Forex Day Trader's Thread

looking at usd /cad now.. this hour we went above previous hour high.. but actually we are below previous hour close.. which could be the start of the short term correction..

however hour is not over yet
 
RidderTrade said:
looking at usd /cad now.. this hour we went above previous hour high.. but actually we are below previous hour close.. which could be the start of the short term correction..

however hour is not over yet
Click to expand...

indeed.. this happened right before our eyes.
 
probably 45 because everyone else will be at 30 and that will make them a stop run target for the big banks who know they'll be there..
 
122.3x usd cad pip.. if 123.00 will be the short term top for cad..

we can count its retracement from 117.69

i would go for the 61.8 retracement.. better not taking the bad trade, then miss the good one

we will see if 123xx is the top for now

see, you can see the REVERSAL in short term working, again what happened.. from 20-21 cad made new higs , but closed below the previous hour

admiddetly, a reversal dip should be a short term dip in an larger uptrending market
 
I'll pick it up again in the 1.21s .. It will have a hard time getting below 1.20

I'm in USD/CHF t.p 1.15 s/l 1.1075
 
market watch today NEWS HEADLINE.. stocks decline because Oil rises..

yeah right.. does the newsmakers the people are stupid..

thats why i ignore 99% of news, actually it only DISRUPTS AND CONFUSES YOU
 
Yes, ignore the news, they're journalists, not traders and sometimes have political motives as well

PLAN YOUR TRADE, TRADE YOUR PLAN..
 
How about sterling, i think its is a very gud level to buy, but there is a risk of quite a significant down move to 1.44 or 1.43, the recent lows. It is perhaps a wise idea to wait to see these levels, as it is not yet oversold on the RSI
 
actually I don't like the 1.30 level in EURO .. I'll buy a strong bounce and sacrifice some of the profit for safety.. Now is not the time to start digging away at profits already made.

We have US retail numbers later this week which will be horrible and that might kill a short.. we also have ECB rate cuts and that could be devastating for longs.. So as far as Euro is concerned I'll try to trade the news events.. Should be pretty obvious.

Euro is really due for a correction in the short-term as well, but I'm not too interested in a counter-trend trade. Might sell another big rally though..
 
Pippy5000 said:
actually I don't like the 1.30 level in EURO .. I'll buy a strong bounce and sacrifice some of the profit for safety.. Now is not the time to start digging away at profits already made.

We have US retail numbers later this week which will be horrible and that might kill a short.. we also have ECB rate cuts and that could be devastating for longs.. So as far as Euro is concerned I'll try to trade the news events.. Should be pretty obvious.

Euro is really due for a correction in the short-term as well, but I'm not too interested in a counter-trend trade. Might sell another big rally though..
Click to expand...

whats your view on the sterling/dollar pippy. I am tempted to go long
 
triple,

I would continue to sell GBP rallies in the short-term .. The flight to safety is beginning again and the UK is not considered a safe-haven.. The US retail numbers might give it a big boost, but I would expect the downtrend to continue afterwards.. In the short-term there might be a correction.. It is due for one, but don't get fooled by it.
 
price action has been awful tonight.. Japanese government is running up EUR/USD and taking everything with it.. USD hammered.. I'm selling Cable at 1.46 .. going to bed now.. good luck in the morning guys..
 
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