Forex Day Trader's Thread

[SSINGH]

think dollar index may hold up around here!

 

[Pippy5000]

it's less than 50/50 but the reward is much greater than the risk so I wouldn't expect it to be 50/50

 

[Pippy5000]

I'll say that this trade is slightly infuriating.. seems to be going in the right direction now though

 

[Pippy5000]

and now it's going in the wrong direction again.. irritating trade.. I'm going to go watch TV and hope I don't hear "your deal is confirmed"

 

[Masquerade]

it's less than 50/50 but the reward is much greater than the risk so I wouldn't expect it to be 50/50

I was kidding about 50/50 It's a pretty unknown odds trade in fairness, the upside is capable of another 300 pips easily, the downside's not that great. But I think it's far more likely to drop 100 pips than move up 300 over the next day or so. Cable's up close to 5% this week, it's ridic. Tomorrow (or today here) is friday, everyone's going to be squaring off their books.

Eur/usd really pissing me off though.

 

[cpngtw]

true that cable is due for a correction. let's see how it goes, the next 1/2 hours is crucial

 

[N Rothschild]

i doubt it will correct this is a HUGE short squeeze in cable from the failed H&S daily and all the dollar bears will be piling into this to

 

[cpngtw]

not sure if my daily chart is correct, but the H & S is still intact. Right now cable is approaching under the neckline (not horizontal though) and if this is true, it's an opportunity to short there...

 

[Masquerade]

you guys are so serious, it's only money.

 

[cpngtw]

give me some of your not-so-serious stuffs please

 

[N Rothschild]

seen this in a few markets now, s['s crude etc..failure a h&s followed by a huge ramp up and new highs

 

[Pippy5000]

I'm in profit now..

 

[Masquerade]

I'm in profit now..

Loss in both of them for me. I trade well clearly

 

[cpngtw]

I'm in profit now..

does look good now on M30, hope it'll follow thru

 

[cpngtw]

the thing may just be a pull back after a break out before going further, but let's see

 

[Masquerade]

There's a lot of "may's" there. You know what happens if you stand in the middle of the road...

 

[cpngtw]

rammed by a bus?

seriously it's true though

 

[Masquerade]

rammed by a bus?

seriously it's true though

Maybe, but you wouldn't usually stand there long if you were smart

 

[Pippy5000]

it either does or it doesn't ... there's no point in second guessing yourself... no one can see the future..

all I can see is a double SMA jumble after a ridiculous move which is massively overbought on the 4hr and daily charts.. so far the Japanese have failed to inspire the market to continue the move in Cable and the hope is that the big players fuelling the move will give up and t/p..

 

[Pippy5000]

ahh.. there we go.. breaking 5m support..