Forex Day Trader's Thread

IMO, if we look at the weekly chart of ninja then it's currently bouncing off a major resistance, or look like it wants to bounce off. But if looking that the monthly, the low point is around 81-82 in 1995. So yes, I think there maybe some bounce up, but I wonder if it could reverse or just doing a dead cat bounce before continue downward to 81-82.
 
89.35 is too high for me to safely use a wide parameter trade.. I could get hit hard.. It's very unlikely ninja will drop 220 pips once it reaches 88.1 without a correction upwards no matter how hard the downtrend becomes.. I'll bail out once the trade reaches a more acceptable loss.. I'm just really tired of getting stopped by a matter of a few pips before a reversal for a nice gain. I still have 3 more weeks of library and I can't make precision trades, but I'm not going to jump into anything either.

88.1 will allow me to cover the spread and get a double bottom bounce which should be worth some nice pippage..
 
There is also the issue of BoJ intervention.. there's no way they'll let it go to 81 .. would be devastating for an exporter nation.
 
no, the gold short is at 1150 and only $10,000 ..

You won't have to ask "did the BoJ just intervene" .. you'll know it.. they'll start squawking verbally to screw up shorts, but if that doesn't work they'll drop a HUGE amount of money on the market to say.. no more.

I wonder if they actually make money on the trades..
 
My new Match avatar just got me a new record number of winks today.. I've perfected my overall strategy.
 
yep.. silver too. I don't usually trade it but I figure why not if the leverage is low.. you can trade them into Euros, GBP etc. as well
 
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