FX Trading: week 8th - 14th July

[Crap Buddist]

yeah depending on his timeframe, cable still a bull market on dailies,if it takes out 1.92 might be a sign to "look" to get short . Thats longer term, holding for months I think, that sort of timescale.... thats what i think about, or pops into my head.

 

[jacinto]

got to catch a flight. stop is now at 167.60, target 169.65. till tomorrow

hi all, i hate flying. stupid airline brought me safely but missed my luggage 😡

just browsing around, no trades till tomorrow (real trades now). the website is behaving strangely.

brutus, you are now a bit less ugly 😆

j

 

[trendie]

I am STILL fixated with shorts.
I had 3-greens on the hourlies (confirmed LONG), and passed on them because I had unconfirmed short on the 4-hrs.

coulda, woulda, shoulda.

 

[Compounding]

notwithstanding his lack of social graces, compounding was bullish on cable, his assessment may yet prove correct.

As far as the EURO and the Pound are concerned, I believe we are poised for an upward movement - sooner than later. Long's should be favored and flavored. So, I hope you chaps are enjoying your breakfast, and I hope most of you don't puke it out 😎. There's money to be made, just make sure your on the right side of the trade. Technicals are pointing up. Once again enjoy your breakfast. I'm famished. Gone. Lol. Have this undeniable taste for cod fish over fried bake with a glass of berry punch on the side.

Indeed my dear trendie, indeed. The market took about 24 hrs from my initial post to get there, but I believe it is there now. The market pretty much went nowhere for the past 24hrs, except for a minimal move to the downside where the bear took its final breath.

I observed you guys do a lot of trading during that period, when In my opinion there was only 1 good trade with a clear cut signal and high probability. That trade was a small move to the down side. Yes, you could have still made money on little trades here and there, but I saw only 1 good one. When you rely on trading as a way of life and when you value it as being your primary and most important source of revenue - you tend to view things very differently I guess 😱.

There is some retracing going on at the moment, but we still have a little bit more to go. After the retracement however; things could get bearish, it is in the cards. The best thing to do at the current moment is to hold your longs. IMO.

 

[jacinto]

I am STILL fixated with shorts.
I had 3-greens on the hourlies (confirmed LONG), and passed on them because I had unconfirmed short on the 4-hrs.

coulda, woulda, shoulda.

you already got your entry at the red dots 😉 for a short now 😉

 

[wasp]

Indeed my dear trendie, indeed. The market took about 24 hrs from my initial post to get there, but I believe it is there now. The market pretty much went nowhere for the past 24hrs, except for a minimal move to the downside where the bear took its final breath.

I observed you guys do a lot of trading during that period, when In my opinion there was only 1 good trade with a clear cut signal and high probability. That trade was a small move to the down side. Yes, you could have still made money on little trades here and there, but I saw only 1 good one. When you rely on trading as a way of life and when you value it as being your primary and most important source of revenue - you tend to view things very differently I guess 😱.

There is some retracing going on at the moment, but we still have a little bit more to go. After the retracement however; things could get bearish, it is in the cards. The best thing to do at the current moment is to hold your longs. IMO.

Nice post compounding... All it takes is a little 'IMO attitude' and everyones happy 😆

Heres my take on the current state of play... if this holds for a while longer I think we will be bearish for a while...

 

[zuke]

notwithstanding his lack of social graces, compounding was bullish on cable, his assessment may yet prove correct.

If I were a cynic of course, I might suggest that he could simply go onto another forum..say, forex tsd and make the opposite call.:cheesy:

Im sure our dear old 7th Signal wouldn't do that of course.

 

[Crap Buddist]

Interesting to see if it sells off from that round number now..... euros nudge 1.37 (near enough) up with events for now ?

 

[zuke]

Short 198
Sl 228
Tp 138

 

[Compounding]

Nice post compounding... All it takes is a little 'IMO attitude' and everyones happy 😆

Heres my take on the current state of play... if this holds for a while longer I think we will be bearish for a while...

Just observed your chart wasp, nice. Do you use any other TA? Although your chart was good to look at it made me cringe a little. Do you use any other methods to analyze price behavior? There are some superior methods out there, but if it works well for you then I'm glad for you 🙂. Just curious....

 

[wasp]

Just observed your chart wasp, nice. Do you use any other TA? Although your chart was good to look at it made me cringe a little. Do you use any other methods to analyze price behavior? There are some superior methods out there, but if it works well for you then I'm glad for you 🙂. Just curious....

I use a number of different things, mostly experience and intuition these days... the chart was just a textbook example.

 

[Compounding]

I use a number of different things, mostly experience and intuition these days... the chart was just a textbook example.

Thanks for the reply. It is good to hear that you do indeed use other methods. The most important tool in TA IMO is the divergence. A lot of traders who use TA miss that importance unfortunately. Price does have structure as one successuful trader pointed out to me so long ago, it was all a matter of seeing it and then exploiting it. One of the most important, if not the most important TA indicator is Momentum. This is from experience. I realized that the mathematical structures of all the other TA indicators weren't as valid to price behavior as the Momentum indicator. It is the cornerstone of all my analysis, and with an array of other TA indicators that complement Momentum, it makes the "job" of figuring out where price will go next that much easier. I ask forgiveness if I have strayed away from the theme of things a litte 😱.

 

[jacinto]

Thanks for the reply. It is good to hear that you do indeed use other methods. The most important tool in TA IMO is the divergence. A lot of traders who use TA miss that importance unfortunately. Price does have structure as one successuful trader pointed out to me so long ago, it was all a matter of seeing it and then exploiting it. One of the most important, if not the most important TA indicator is Momentum. This is from experience. I realized that the mathematical structures of all the other TA indicators weren't as valid to price behavior as the Momentum indicator. It is the cornerstone of all my analysis, and with an array of other TA indicators that complement Momentum, it makes the "job" of figuring out where price will go next that much easier. I ask forgiveness if I have strayed away from the theme of things a litte 😱.

hi compounding,

i am happy to say i have removed you from my ignore list. good post 😀

j

 

[wasp]

Compounding,

Don't take too much notice of him, he's foreign!

 

[Hook Shot]

Thanks for the reply. It is good to hear that you do indeed use other methods. The most important tool in TA IMO is the divergence. A lot of traders who use TA miss that importance unfortunately. Price does have structure as one successuful trader pointed out to me so long ago, it was all a matter of seeing it and then exploiting it. One of the most important, if not the most important TA indicator is Momentum. This is from experience. I realized that the mathematical structures of all the other TA indicators weren't as valid to price behavior as the Momentum indicator. It is the cornerstone of all my analysis, and with an array of other TA indicators that complement Momentum, it makes the "job" of figuring out where price will go next that much easier. I ask forgiveness if I have strayed away from the theme of things a litte 😱.

Thanks for your analysis..... you hit this one out of the park ...... cable, euro$
Cheers😎

 

[Phil Mibbutz]

I go away for an hour or two and look what happens. The FTSE nosedives, Cable breaks another high (pleased I moved stop on my short when I had the chance) and Compounding is being praised. Whatever next?
FWIW, short again from 225.

 

[Offshore Trader]

Out of cable at 267 +100 now that's nice!

 

[wasp]

Out of cable at 267 +100 now that's nice!

Been a while ay!

 

[jacinto]

Compounding,

Don't take too much notice of him, he's foreign!

😆

 

[Hook Shot]

Senor Vodka

😆

Lets see if you're still laughing after the Argentina match 😆 😆 😆