Forex trading live calls and set ups

[Mr Flibble]

Lo chaps
Lets have a little play then short USD/CAD 10130

SL: @ 10147
Target @ 10020

Hoping that minor breakout of trend was a fakeout ---usually followed by a lower low. RR too good not to try. Now I'm going to watch your chaps trades for a little.

 

[Mr Flibble]

im looking for a lot from this trade.I have a clear break as posted on Fri and today.
some intervention would be nice

Could be a nice one double bottom with a restest of lows. Gotta like them legs. You're fighting trend but if it works could be spectacular.

Im guessing you're playing the breakout which I just spotted too? Do these work out for you?

 

[Lord Flasheart]

Could be a nice one double bottom with a restest of lows. Gotta like them legs. You're fighting trend but if it works could be spectacular.

Im guessing you're playing the breakout which I just spotted too? Do these work out for you?

thats the plan, and i have a break of trend in my favour
lots of action for a sunday night

 

[Mr Flibble]

thats the plan, and i have a break of trend in my favour
lots of action for a sunday night

Look at USD/CAD your kinda play. Break through of trend but I took a short because I saw some divergence the other way. I may regret this trade but you have to go with the probabilities.

 

[Mr Flibble]

Look at USD/CAD your kinda play. Break through of trend but I took a short because I saw some divergence the other way. I may regret this trade but you have to go with the probabilities.

Stopped out for USD/CAD. Metals moving down = weak CAD and AUD looking like a real breakout.

 

[Lord Flasheart]

got to get some sleep
1st target 81.7,will leave rest for a bumper pay day

good luck

 

[Mr Flibble]

Going long on EUR/USD 13873

No target or sl yet

If this is the bottom then it could be quite a nice run upwards over the next few days.

 

[Mr Flibble]

Heres my rationale for entering this EUR/USD trade.

As you can see from the chart if you draw a trendline from last weeks low and the week before thats low, we have our area of possible support. According to todays Pivot points S1 sits at around 1.3389. To have the perfect orthodox trade you'd probably want to wait to let the price move above that level. We are missing one key ingredient as of writing this Volume. I'm not seeing the volume yet to trigger a reversal and we should surely have it. Volume mounts as the buyers and sellers compete as they may be in equal measure this is why volume proceeds price. Once and if the sellers lose out then volume dips slightly and then moves up again once confirmation of a new up trend is formed. Now I don't trade on pivot levels but I know others may do some I'm looking at traders who trade trend lines and pivot traders. When you have 2 possible signals then the trade is good..if you have 3 - 4 the trade is gold i.e A fib retracement and divergence.

Now lets watch to see this play out..We could get a retest of support or we could move up or we could continue the downward movement.

 

[Mr Flibble]

This is why I love to trade. The suspense. I can pick 10 good reasons either side to go long or short. I know how shorts will be seeing this EUR/USD trade right now. They are looking at an hourly inside bar and just waiting for the price to drop below. Knowing the market and just how unpredictable it can be at times I wouldnt be surprised if some smart trader dips this a little lower than that IB gets everyone in and then looks to exploit their stops. I know if I had that kind of money I'd be doing that but we are talking huge money.

Still waiting to see if we get through that S1 resistance at 1.3889. Let the game of chess begin.

 

[Liquid validity]

REALLY?

(note the dramatic effect)

Just reading through the last couple of pages and noticed this, Black Swans advice was spot on. The borrowed money trap is not one you want to fall into. 2 reasons, its money you can't afford to lose (if it was you wouldn't need to borrow it), and the interest rate on the credit card. Big traders do use borrowed money but there are significant differences, they know the risks, they know what they are doing and their rates are much much better.

Despite breaking sane trading rules, I can also tell you from personal experience its a crap idea, I did the same thing way back in 2003 to swing trade FTSE 350 stocks, £5K borrowed to top up what I already had. I came to my senses after I'd only lost a couple of hundred quid - don't do it. Whether or not you listen is your choice

 

[Mr Flibble]

Going long on EUR/USD 13873

No target or sl yet

If this is the bottom then it could be quite a nice run upwards over the next few days.

Target set to 1.4040
SL...MEH ( I dont encourage others to follow my poor RR my weak point at times ) I only leave small amounts in my account to avoid big losses.

 

[Lord Flasheart]

Just reading through the last couple of pages and noticed this, Black Swans advice was spot on. The borrowed money trap is not one you want to fall into. 2 reasons, its money you can't afford to lose (if it was you wouldn't need to borrow it), and the interest rate on the credit card. Big traders do use borrowed money but there are significant differences, they know the risks, they know what they are doing and their rates are much much better.

Despite breaking sane trading rules, I can also tell you from personal experience its a crap idea, I did the same thing way back in 2003 to swing trade FTSE 350 stocks, £5K borrowed to top up what I already had. I came to my senses after I'd only lost a couple of hundred quid - don't do it. Whether or not you listen is your choice

what if you havent got any money but have studied and believe you have an workable system? :smart:I did the credit card and bank loan thing,oh and the re mortgage? dont do it,as he said just start with a few quid if you have to,if it works you can soon increase

 

[Lord Flasheart]

Need less to say Im -30 for the weel so far following my certain jopy trade

 

[bedsit]

I've finished with my trading for today. Just thinking about the next week EU trading ideas - possible short?

Maybe one more?

 

[Black Swan]

Single Euro small TF trade; this session now over, will possibly look for other opps from circa 1pm. Obviously a bit *odd* Monday using daily pivots + S&R etc..oh btw, that red line is S3 not the pivot...

Stop 25
Pips + 21

 

[AFK]

Good morning everyone! Looks like a dollar is rallying across the board... I've spent the weekend educating myself about the macroeconomic state of the US and listening to a lot of people who have called the current recession and the housing bubble before they happened (Gerald Celente and Peter Schiff) and I'm starting to think that the current down trend in the dollar is just the begging of its long term demise. For that reason I will be only looking to sell the dollar instead of looking for reversals and today looks like the dollar might reach good prices for short entries.

 

[ha0dho]

Bee stopped out of the eurgbp trade but worse than that it looks like black swan is right about oil

 

[AFK]

Limit buy EUR/USD at 1.32 stop 100 tp 300+. if it gets stopped out I will reenter once it finds support.

 

[AFK]

[...] Big traders do use borrowed money but there are significant differences, they know the risks, they know what they are doing and their rates are much much better [...]

I like that one. The big traders at Goldman Sachs and the rest of the big banks certainly know how to handle risk and leverage - when they win, they win big and keep the profits; when they lose, they get the local governments to cover their losses with taxpayer money.

 

[be-positive]

short gbp/usd @ 5882 stp 5895 trg 5869