Forex trading live calls and set ups

I am thinking of closing this thread (Beachtrader voted a No)

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wackypete2 said:
agree with the sell stop. Not playing a long though. If it breaks upward over 82 I'll be attempting to play a false breakout and short it back down into the pattern.

Peter
Click to expand...

Here's the false breakout. I didn't get in because it didn't hit the 82 area like I wanted and so there wasn't enough profit potential. But this is a pic of how it's played. Looks like it breaking upward again. Same rules apply. IMO the downward trend on the 1H charts is just too strong to try an upward breakout right now.

Peter
 

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eurusd is approaching 1.4650 resistance zone again. 4 of the last 8 hourly candles have tapped this area and fell back. Eventually it'll break through. There's bound to be plenty of buy stops and stop losses just above. The initial break will trigger those sending price about 20 pips or so higher very quickly, then likely retrace back under. That's my play, to short the fast pop if it occurs as planned.

Peter
 
wackypete2 said:
eurusd is approaching 1.4650 resistance zone again. 4 of the last 8 hourly candles have tapped this area and fell back. Eventually it'll break through. There's bound to be plenty of buy stops and stop losses just above. The initial break will trigger those sending price about 20 pips or so higher very quickly, then likely retrace back under. That's my play, to short the fast pop if it occurs as planned.

Peter
Click to expand...

Everybody is waiting for Fed announcement on their next QE move. When it does come we are looking at big moves either way I reckon... That's for EurUsd and gold...
 
Atilla said:
Everybody is waiting for Fed announcement on their next QE move. When it does come we are looking at big moves either way I reckon... That's for EurUsd and gold...
Click to expand...

Yes I agree, that's why it's so slow today. Just my personal opinion on this, but I don't think the FED or Bernanke can really say much to derail the downward $ trend right now (rising eurusd). A few keywords can certainly tank eurusd, but I think it would be just temporary and may be a good buying opportunity. Words, announcements, FOMC minutes are great for short term volatility, but until they actually DO something the trend usually ends up staying on track. Changing interest rates would be just that.

My opinion is probably not worth the screen it's typed on, but it' mine!

Peter
 
It's a beautiful day here so I'm going to call it a day and go enjoy the outdoors.
Catch everyone tomorrow!

Peter
 
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