Forex Day Trader's Thread

Wow.. the S&P profit takers really stepped up in the last 5 minutes and saved my trade.. The triple failure is not a good sign for EUR longs either..
 
Top US investment bank just posted MUCH better than expected earnings after the market closed and once again my trade is in trouble.. I would predict the Japanese market to rally..
 
I think the Japanese will be excited about the bank earnings and their equities will rally thereby pushing up EUR/JPY and taking EUR/USD with it.. If Japanese equities do not rally then I think this Euro strength will collapse..
 
well if equity futures rally, then euro and sterling should follow, theoretically. But the question is, has the euro over done it 2day, when all markets are open tomorrow, traders may just think that the euro and sterling are overbought. There is a strong possiblity that those currencies will continue the rally if nikkei rallies as well, but come tomorrow for european market open, we should see a correction. Have to remember, goldman sachs is the best out there, so good figures reported by them does not necessarily mean good figures for rival banks. Big question obviously is, does the market think other banks will beat analyst estimates.
 
Goldman selling $5bn in stock to raise capital to pay back TARP funds, if they have to do that, imagine how much more rival banks will have to raise, don't think that will go down well with equity investors
 
I expect a retest of the resistance-turned-to-support at 1.333, after that i suspect it'll keep going upwards, so I've got a buy order at 1.3337 sl 1.3315 to add to my existing position.

pippy: sorry bout the bad trade, if you were round here i'd invite ya over for a pint of guinness, drowning your sorrows and all that
 
serious uncharted terroritory at the moment..its anyones guess...im still think euro/cable etc is overbought..but who knows lets see what happens in asia.

eurjpy is consolidating at the 50% retracement of previous highs. an hourly chart looks like it is going to roll over, how ever with this uncertainty with banks profits and what the asian session we will bring it could go either way.

also IMO if goldman are selling that much equity to pay back TARP, perhaps there future profit outlook isnt that healthy. And there was 0 reaction in the currencies or futures
 
EUR/JPY has tried and failed at 134 4 times.. that's not good and yes everyone knows the move up today was only possible due to thin liquidity shenanigans.. My ideal situation would be to bail out of my short with a slight profit and reverse to long because this Goldman thing is a really big deal and I think the Japanese will at the very least try to take out 134 .. which is similar to 1.339 in Euro..
 
Danimal,

The Dutch have a monopoly on harmful substances I abuse, Heineken and Red Bull .. so I'll pass on the Guiness... for now..
 
While GS earnings were great, shareholders do not like the $5bn equity issue planned.

This lays open how Asian markets will react tonight? My guess is positively because the reaction to the equity issue is very specific to GS given their desire to pay off TARP funding.

An hour and a quarter to go and we will know......
 
rahuja said:
While GS earnings were great, shareholders do not like the $5bn equity issue planned.

This lays open how Asian markets will react tonight? My guess is positively because the reaction to the equity issue is very specific to GS given their desire to pay off TARP funding.

An hour and a quarter to go and we will know......
Click to expand...

I reckon other banks are more than likely to follow, or even worse, they will say they will pay back the money afta maybe 6months or longer. Gota remember this is GS, if they beat expectations and they STILL have to raise capital, you can bet good money that the other banks will have the same issue if not worse
 
I'll go ahead and say it now.. If my trade survives and produces a profit, I, Pippy5000, do hereby proclaim that I will eat my own face..
 
lol same. if i get stopped it will cap off a HORRIFIC day for the p/l. If it works, will be not bad!
 
and no women hollad at all today.. damn.. but why would they want to talk to a super busted chump who spits into the wind and shorts on a breakout day in the other direction.. What about you Gene? How are the Scottish women treating you today?

You guys remember the old Boomtown Rats song?

"I don't like Mondays" ..
 
heh.. I'm cheerfully ignoring my p/l column today.. I put some tape on my computer screen and won't take it off until tomorrow.. it's low-tech but makes me feel better..
 
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