Forex Day Trader's Thread

[bbc1183]

i trade equities mostly and ill agree with that... the selloff over the past few days has just felt different. but yea, its kind of a wait and see at the moment...could easily reverse and move higher from here but im not convinced yet. volume has been enormous on the sell side...

 

[Alg]

With the exception of yesterday equity weakness over the last month or so is always reversed by the end of the day.. the only reason it wasn't reversed yesterday is because it happened in the last hour or two.. Traders are buying equities on dips in the belief that the rally will continue.. if they do not buy them today then it will be a good sign that the rally is over and the big correction will be underway

Perfect explanation. It works 99%.
Today is little differant.

 

[Alg]

Yep, but just little wait for 1.6027.
It will be Stop hunting now in minute.

We got 1.6032.
I still looking for 5 pips.

 

[Tuky]

We got 1.6032.
I still looking for 5 pips.

Are you sure? I think it's done

 

[Pippy5000]

1.468 is holding up extremely well..

 

[Alg]

Today I do trade USD/CAD 1.0855 break higher. Now Stops near Entry.
And for me key of the day is USD/CAD 1.0891.
It means if it will be broken higher, it's big possibility that EUR will go lower too., because 14685 was broken lower.
It was strong Signal for new Short.
It's just my brainstorm.

 

[Pippy5000]

I'm up pretty nice on Cable and hoping for an equities bounce to kick in some profit taking on Cable shorts..

 

[Pippy5000]

[gulp] S&P testing the lows again

 

[wh92stang]

I'm not sure of anything that would cause dollar strength at this point other than profit taking people who think the moves have gone too far too fast. Fundamentally nothing has changed, and the Fed was about as bullish as it could be about economic recovery yesterday.

That being said I'd be more comfortable buying pullbacks than selling them at this point. You can never be sure though, because once the market starts going down and people start getting scared, moves down can be pretty heavy and occur very fast.

 

[Alg]

If USD/CAD will break 1.092 higher, it will go more.
Also I'll do Sell EUR, NZD, AUD same time.

 

[bbc1183]

euro at CRITICAL point right here

 

[wh92stang]

Short EU 1.4678.

 

[Alg]

If USD/CAD will break 1.0892 higher, it will go more.
Also I'll do Sell EUR, NZD, AUD same time.

Slowly, slowly...but it works. Now some Stops near Entry.

 

[Alg]

We got GBP/USD1.6032.
I still looking for 5 pips.

I'll do not Buy GBP/USD, like we were talking.

 

[bbc1183]

i cant see any reason to be short or long euro right here... im not doing anything

 

[N Rothschild]

long usdchf 100 point stop

 

[wh92stang]

I'm out for +3 pips. Price action scared me. Didn't break lower like I was expecting.

 

[wh92stang]

Here's a question. Euro tested 1.4675 for the fourth time and finally broke through to the downside. Once it got through, it stopped within 5 pips and returned higher. Who's buying at those levels? Maybe I trade the wrong way or something, but who's really saying "it just broke through the daily low. I'm going long."? Apparently a lot of people.

 

[Alg]

If USD/CAD will break 1.092 higher, it will go more.
Also I'll do Sell EUR, NZD, AUD same time.

Holhd all Entries. It's not Scalping.
Now people puting Huge amuonts of money.

 

[bbc1183]

it did break that trend line... and prob goes lower... but theres just really no way to set up that trade, how would u define your risk? the trade of the day was to be short at the top of that rising wedge this morning... once it broke lower from there it was lights out.