Forex Day Trader's Thread

nice.. get your pre-serial killer training in. I like people who are proactive and concerned about their futures.
 
once again I was unaware of a major data release.. My 2nd Euro trade is profitable though :cheesy:

since German GDP is on the plate I will increase my t/p and keep my stop at 1.479 .. I can still take a big hit and remain up for the week there.
 
BLURB:

The S&P 500 may have put in an abandoned baby top pattern, a powerful reversal signal after a move higher.. the candles are not perfect, and the pattern is very rare, so we could look at the two spinning tops on Tuesday and Wednesday as another bearish reversal signal confirmed by today's sharp move lower. The weekly candle currently looks like a shooting star rejection.
 
I'm thinking about getting long EJ for a scalp.. but I'd like to play the daily SMA. 133.8 or so seems good for a 30 pip quick one. You'd have additional daily SMA support with a 30 pip stop.
 
I am officially out of Euro having banked 1.5 pips.. tired of the choppiness.. will buy closer to the next support at 1.481
 
EURUSD20091112163350.GIF
 
UJ broke support and caused a little broad USD weakness.. I'm feeling good about this little Euro pop (the most interesting thing to happen all night) reversing for a nice little scalp.

I do not like risk tonight
 
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sweet jesus I like this one .. thank you god.. you ****ed me on trade after trade but delivered when I really needed you..

ouch.. I mean.. yummy.. yes lord..
 
I think it's going to be a really slow march higher into the mid 1.50s.. I think my strategy for the next few weeks will be to short around 1.502 - 1.505 with a larger than average stop and hold for 100 pips short each time.. I will buy in the 1.47s - 1.45s and hold to 1.50 as well

I will not buy in the 1.49s or upper 1.48s due to the possibility of a catastrophic loss using a big stop. I think a catastrophic loss shorting in the lower 1.50s is far less likely over the coming weeks.

below 1.445 would be bad, very bad, but anything above that I would view as an opportunity to buy.. another drop down into the 1.46s would be like an early Christmas gift.
 
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