Forex Day Trader's Thread

[Pippy5000]

I see a daily uptrend with strong momentum.. the yen pairs tanked last night as well only to end up higher than they were before. I'm basically flat on the 2nd trade. Stop is tight,, take profit very large.

 

[Tarhini_Trade]

ok, in that case its right around the 23.6% retracement, with the downward push it just made I think it has a higher chance of reaching the 38.2% area, which happens to be right around the 90.8-91.0 strong resistance area. nonetheless, I understand your trade lol

 

[Pippy5000]

and I will be back in down there too.. as long as it goes back up again I win no matter what.. in fact getting stopped out and picking it up much lower would be a blessing.. just as long as my order isn't missed in my sleep.. but currently I'm up so I'll worry about all that when the time comes.. I'm having a supremely huge 24 hours so I won't be too upset no matter what happens

 

[Tarhini_Trade]

sounds good, in the mean time check out that email on the USD or this

http://www.videonewswire.com/event.asp?id=63726

 

[Pippy5000]

that event was 3 weeks ago

 

[Tarhini_Trade]

lol I know...so Im assuming you already listened to the whole thing, and took notes haha

 

[Pippy5000]

I'm selling Euros at 1.4493

 

[Pippy5000]

double top broke with no follow through at all.. hmmmm..

 

[temporarilylight]

Trying a long here at 1.4406

offered me 70 odd pips overnight. luckily never went against me at all.

 

[Tarhini_Trade]

any trades today?

 

[Tarhini_Trade]

short EUR/USD 1.4393, t/p 1.436

 

[Tarhini_Trade]

closed trade for 10 pips, i like the formation but it hasnt truly broken any levels yet.

 

[Pippy5000]

I was 35 pips up on UJ when I woke up.. I got greedy hoping for a good homes report, locked in 5 pips(my version of b/e) and went to jury duty.. I got stopped at 5 pips and missed the opportunity to get back in on the nice deep dip.. now it's back to where it started and I'm not touching it with a ten foot pole.. I will buy it if it comes down lower but won't sell it for much higher.

Still 15 pips down for the day..

My HUGE Euro short missed getting filled by 10 pips and would have been a true beauty..

 

[Tarhini_Trade]

ended up +20 pips shorting euros today

 

[Pippy5000]

Long EJ off the pivot 131.55 -15 +205

 

[Pippy5000]

too tight of a stop.. EUR/USD and EUR/JPY just broke support but the nikkei is surging so it might have been an irritating false break.. otherwise I'll get EJ again at 130.9 .. I think this Yen strength is just a pullback.. a major weekly TL was broken upward last week, but it's soooo overbought on the dailies.. I'd rather take a few small hits than let it slip away from me.

 

[Pippy5000]

UJ is going to 110 within a few months.. I am extremely confident of this. I see a lot of stuff confirming this.

SCENARIO:

I'm presently in at 91.8 (again) with a huge stop

I will continue to add to the position until it reaches $600,000 on a dip to 90.5.. My largest trade since March. Below 90.4 negates bullish bias. Will add to the position above the trend line on the monthly charts.. It looks like it comes in around 93.75-94 and will have a truly magnificent amount of stops above.

 

[JahDave]

The USD/JPY never really hit the long term downtrend line, which btw plays right into the EUR/USD current uptrend, so I am long EUR tonight and short EUR when the USD/JPY hits that line, which I think is about 200 pips away for the eur/usd Pippy.

 

[JahDave]

I think that is a very good call Pippy. I am going to get back in on UJ soon.

 

[Pippy5000]

You're a wave guy so maybe this will be of interest to you..