Forex Day Trader's Thread

[Pippy5000]

LOOK WHAT IT'S DOING NOW!!

give me a break..

 

[RidderTrade]

yeah very volatile cable

 

[welshandy1]

hey guys,

I was thinking the pound looked oversold at 13560, but I didnt go with it in the end... Its really not been my week, I sold my gold lots at 818... now its at 902!!

where's the value now - anything looking good?

Im still very tempted to buy GBP / USD if it gets down to the 135s again. What do you guys think?

 

[RidderTrade]

saw a bit of short covering in commodity which pressures the usd.. we could see or we are in a bounce of the other currencies.

 

[tripleogstar]

I agree with everyone, been a difficult week as far as cable is concerned. Past 2 days it has been impossible to trade the damn thing. I think next week we could see a rally, but simply based on the fact that the dow jones and the ftse have fallen below key psychological levels but rallied past them again (8000 and 4000 on the FTSE). So on Monday could see a decent rally in the equities market, which should result in some selling of the USD. Got existing home sales figures for the U.S on Monday, so that too could put pressure on USD. I think even technicals are showing bullish signs, GBP/USD has fallen below key support at 1.3630 and rallied back up.

 

[Pippy5000]

I noticed an inverse head and shoulders pattern on the daily charts and decided to go long 1.38 with a t/p at 1.44 and an s/l 1.344 .. When I woke up I was 200 pips down.. Stocks look like they could rally and get me back to even.. I'm pretty close right now.. I'm sick to death of Cable though to tell you the truth.. This is silly trading.. It could go as low as 1.30 or as high as 1.44 so there's a huge chance of getting stopped out BIG.

 

[Pippy5000]

Actually this rally in Cable is USD weakness.. GBP is weak as ever..

 

[Pippy5000]

TRADING PLAN FOR CABLE:

Sell failures at 1.39, 1.40, 1.41, 1.42, 1.43, 1.44 one of these levels will be too hard to break and the sellfest will resume again..

Don't let it pull its bull**** on you.. use a tight stop! I rode a huge loss today and barely made it back to $0.. GBP is screwed so it's only a matter of time before we go low, low, low.. I think we could see a try for 1.30 next week.

Also, there are buyers at 1.35 from the USD, EUR and JPY sides so you might try to buy a bounce off 1.35.. don't play around though, stop it out if the support won't hold..

This week SUCKED! I'm -$200 from where I started Monday.. Next week will be better.

 

[RidderTrade]

cable is wild volatile..

stocks off from lows.. yeah.. next week we will be back in force

 

[RidderTrade]

euro can bounce to 1.3387 - 1.35
although it is not required...

 

[teojh]

sigh. i gave back lots of profits. small profit in the end.

 

[RidderTrade]

i foresee a little weakness in usd.. early in this week.
i am looking tonight at forex open.. i there is a good deal somewhere..

 

[RidderTrade]

remember market has always right.. if market is volatile.. than market has right..

 

[RidderTrade]

pip do we see you today, or did you catched again a ton of heineken

 

[Pippy5000]

no, I'm getting ready for the markets to open..

 

[Pippy5000]

people are pushing Cable down easily in thin liquidity .. I'm going to buy at 1.35

 

[RidderTrade]

bought euro at 1.2880

 

[RidderTrade]

hammer candlestick.. friday

 

[Pippy5000]

Candlesticks haven't been working the last few days. .I don't trust them. I'm just placing entry orders at the ends of recent ranges..

 

[Pippy5000]

actually I've removed my buy order at 1.35 and will just sell Cable only