Forex Day Trader's Thread

[Pippy5000]

How's a short at 1.4009 sound in Euro to you guys?

 

[N Rothschild]

ES is up against a major daily trend line and tomorrow is meant to be a pivot day..so why not!

 

[Pippy5000]

I've got a date with one of your funny talkin' countrywomen.. from Canberra.. I tried to convince her the capital is Perth and she won't believe me..

 

[Pippy5000]

no, I'm going to play it safe actually and put my order in at 1.4045

 

[Pippy5000]

or actually 1.407 with a stop behind 1.41 would be even better..

 

[cpngtw]

euro may be up around 14030 or so... I usually rely more on H4

 

[Pippy5000]

I like the previous highs with round number resistance for extra protection.. plus I watched Euro during the Japanese session and it was very heavy up there..

 

[cpngtw]

that's true

 

[Pippy5000]

Here's a trading tip for newbie lurkers..

EJ routinely obeys hourly SMA.. Watch it touch the SMA and reverse, even if it is only slightly.. the trading commuity as a whole uses SMA on the 1hr charts to trade EUR/JPY.. Conversely, EU ignores hourly SMA routinely.. don't try to rely on it for entry or exit points when trading Euro.. the support and resistance offered can be considered very minor..


UJ is pretty awesome about hourly SMA as well in fact I'm getting long if touches 93.187

 

[N Rothschild]

what length SMA doofus

 

[Pippy5000]

55,100,200 .. those will be the defaults with just about every broker's charting software and as I am speaking to newbies I didn't think it would be necessary to confuse them further by overcomplicating the explanation.. this why you make sandwiches for me...

thanks for popping out of the woodwork from 1985 and using the word doofus by the way.. goober

 

[N Rothschild]

55? surely 50 is the standard..

 

[Pippy5000]

55,100,200 with Forex.com and FXCM..

ham with baby swiss and rye.. but please spare from that horrific British mustard.. I took one bite 11 years ago and my sinuses are still not right..

 

[cpngtw]

I use 50, but it really doesn't matter much. S/R is really an area where price reacts, so when speaking of S/R I usually have +/- delta. And therefore 50 or 55 should both provide an area of interest where you want to watch the price closely. The thing that matters is how you get used to one or another.

 

[N Rothschild]

 

[Pippy5000]

we're talking a few pips anyway.. if that.. on the hourly charts..

 

[Pippy5000]

now you're posting houses?? impressive.. what are the GPS coordinates?

regardless of the SMA parameters a long entry on UJ at 93.22 is what the cool kids are doing tonight..

 

[N Rothschild]

thats not a house, thats edinburgh castle..you wouldnt know what a castle is seeing your country has no history

 

[N Rothschild]

 

[Pippy5000]

I know.. but the history we do have is good..