Forex trading live calls and set ups

[wackypete2]

scratched this trade @ 3065 for -0-

Peter

 

[jon1971]

short gbpusd 5710 sl at 5730 open target.

 

[spinola]

by my reckoning gbpusd, has just touched the top of the trend channel on the longer tf, however no real selling coming in, then again it is late Friday afternoon this side of the pond...

Hmm just eyeballed cable and if the upwards thrust continues looking ahead next few weeks, then I can see it testing 1.5850 after that (giving way ) 1.6500 ..


See how it pans out... But that should ? drag pound yen beyond 140. hopefully ! 😏

 

[jon1971]

GBPUSD Trend Channel on longer TF, 20 pip bounce so far, but still no evidence of any real selling...

 

[jon1971]

Hmm just eyeballed cable and if the upwards thrust continues looking ahead next few weeks, then I can see it testing 1.5850 after that (giving way ) 1.6500 ..


See how it pans out... But that should ? drag pound yen beyond 140. hopefully ! 😏

agreed, I'm just attempting a short term retrace...

My one reservation is the nature of the price bars, looking on the dailys they still look corrective in nature, not impulsive, struggling up at quite a shallow angle.

Looking at the chart, compare it to the down move from late last year, I'm talking about the distance covered and speed of the move.

(OK, so forget the bit about the angle, but still not what I'd describe as impulsive).

 

[jon1971]

Soft US data fully priced in? Pretty much every indicator pointing to overbought (gbpusd)? Highest level since Feb, 7 days of consecutive gains...

Anyone else thinking this is due a dip? Maybe a retest of the 200 day SMA?

I've held my position into the weekend BTW and will probably close it at any kind of a gap down or gap up fill Sunday night.

 

[wackypete2]

I'm not as brave. Agree with the short term overbought appearance. Better chance of gap down than up IMO. You're probably looking good.

Peter

 

[jon1971]

I'm not as brave. Agree with the short term overbought appearance. Better chance of gap down than up IMO. You're probably looking good.

Peter

Fingers gonna be hovering over the trigger come Sunday night...

Have a good weekend...

 

[spinola]

heap big sell off pound yens anyone ? I have just viewed a video talking about bear flags forming and I can spot one on this pair, so shorts as best you can , at 134.00 at the mo, possible fill higher, but this should collapse ........ 🙂 Ok strong word, but trading downwards bias is NOW ON !

 

[spinola]

ohh and that will likely mean Dollar yens sticking a new 15 lows in !! So look out for the yen punching out 84.70 zone.... well its a theory.... but that recent low doesn't look like a rapid rejection does it? More like I, I, this wants to go lower, so stuff the market long , put rope around their necks, and kick the chair away !!

See how it pans out next few days !

 

[spinola]

Trade idea image- pound yen flag 👍

 

[wackypete2]

Asia buying yen like crazy tonight. Nice to see some movement during asian trading. Last week wasn't much to do.


Peter

 

[maddy26]

Can anyone personally help me to understand forex trading .

 

[jon1971]

UK retail figs. my basterd broker froze my platform on me, so missed the initial 40 pips of the move, they did it on this months NFP as well, starting to get a tad pee'd off with them...

IG for your info. 👎

 

[spinola]

hmm yeah I monitor a couple and I note they OFTEN switch the servers off before news / during key levels .

fxcm are doing ok , mines often running 24/5 with no disconnects..... cant believe these bucket shops do not have the capacity to deal with clients, more like, covering their own arses to shaft holders locked in the wrong side of something.

🙂 Scary .....

 

[jon1971]

hmm yeah I monitor a couple and I note they OFTEN switch the servers off before news / during key levels .

fxcm are doing ok , mines often running 24/5 with no disconnects..... cant believe these bucket shops do not have the capacity to deal with clients, more like, covering their own arses to shaft holders locked in the wrong side of something.

🙂 Scary .....

What's the deal with FXCM FX L2 data? Any good?

Mind you I still made in 5 minutes what it used to take me a day to make in civvy street, would have been a heck of a lot better without the freeze, it was literally just a couple of seconds, in fact they didn't actually freeze it, but put a momentary phone to deal just on GBP, the crafty buggers.

 

[jon1971]

Can anyone personally help me to understand forex trading .

My two cents, put in tons & tons & tons of screen time and learn on a demo account before going live...

The Jacko & James 16 threads on Forex Factory are pretty good.

 

[spinola]

What's the deal with FXCM FX L2 data? Any good?

Mind you I still made in 5 minutes what it used to take me a day to make in civvy street, would have been a heck of a lot better without the freeze, it was literally just a couple of seconds, in fact they didn't actually freeze it, but put a momentary phone to deal just on GBP, the crafty buggers.

hmmm not had a look at that L2 , will do I expect to see what it's all about. Mind you i'm an infrequent flyer on the platform mostly.... click, wait a week or 2 click.....

However I do passively follow all week. So plenty of fiddling time !

Anyone else used the L2 thing ?

 

[jon1971]

Yeah some feedback on how useful & effective it is would be good. I believe I'm right in saying the L2 is derived from Futures, but it would be interesting to find out if any kind of an edge could be obtained.

UK retail numbers, currently looking like an exact replica of the BOE minutes news spike, exactly the same levels.

 

[jon1971]

Anyone else think the markets have been a complete chop fest this week?