July '04 Forex

yeh it looks like your going the right way imo its all practice pratice practice from her on in.

I'm not too bothered about it going further ive taken a fair whack out of it and slightly more than i had expected for the day. Plus you will go mad trying to catch the tops and bottoms 😉

I'm done for day

Regards
NB
 
well, encouraging anyway. You had a good day and I know what you mean about getting the tops and bottoms... take the money and run.. see you later

MT


Newtron Bomb said:
yeh it looks like your going the right way imo its all practice pratice practice from her on in.

I'm not too bothered about it going further ive taken a fair whack out of it and slightly more than i had expected for the day. Plus you will go mad trying to catch the tops and bottoms 😉

I'm done for day

Regards
NB
Click to expand...
 
morning all, hope you are all still profitable 🙂

been a bit busy lately, not only with the real job, but with a bit of trading reading. amazing what you can find online lol.

anyway, here is an 8 hour (!!!!!) chart of GBP/USD. anyone tempted to take a speculative long before the jobs data today??


yesterday we hit the big red trendline (near enough) and have bounced up considerably.

please also note the Hidden Divergance on the RSI. this tends to confirm the current trend, ie up.

am going to put a speculative (well, sort of) long position trade on now with a wide stop, and see what happens. looks like we could get up to where we were last friday over the next few days. well thats the plan anyway!!! with small stakes, and looking for a 400pt move, we shall see 🙂

good trading all

FC
 

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yep, I think you are right. On the 5 minute chart now there is a confluence of 60,100 and 200MA's. Also, has been trading abover those byt still in a channel.with a general uptrend.

I propose it has bottomed now and there could be a nice big bounce as it hits the MA's. Oversold I think.

MT

FetteredChinos said:
morning all, hope you are all still profitable 🙂

been a bit busy lately, not only with the real job, but with a bit of trading reading. amazing what you can find online lol.

anyway, here is an 8 hour (!!!!!) chart of GBP/USD. anyone tempted to take a speculative long before the jobs data today??


yesterday we hit the big red trendline (near enough) and have bounced up considerably.

please also note the Hidden Divergance on the RSI. this tends to confirm the current trend, ie up.

am going to put a speculative (well, sort of) long position trade on now with a wide stop, and see what happens. looks like we could get up to where we were last friday over the next few days. well thats the plan anyway!!! with small stakes, and looking for a 400pt move, we shall see 🙂

good trading all

FC
Click to expand...
 

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hmm, downside looks limited. plenty of support lines, but i have a nasty feeling this could be one almighty bear trap.

30 min chart doesnt look too promising. BUT it 1.8460-1.8480 goes convincingly, then we could be up , up , up and away.... 🙂



FC
 

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Both on EURUSD & GBPUSD

g'morning all ----- about this time y'day I posted & copy it here now
(.I expect a bounce to the upside either yet today or tomorrow. fwiw
Of course that may be wrong,lol)
Today i'm looking today for the top of the bounce to get short again.
 
Euro's looking bullish to me. 50% retrace from 11 Jun low - recent high.
5 waves down complete with volume climax of 18000 contracts+ on futures.
Now forming what looks like a V bottom with platform. An upside break past the pivot (yellow line) and I'll be looking for 1.2330-1.2340, max target currently 1.2380 where the trendlines intersect. Perhaps we'll see an ABC type move to follow such a pretty 5 waver.

As ever the news may not amuse and my predictions are silly.
 

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hmmm, bulls and bears fighting after the news...

am still bullish. though, long term looking 1.87+

any ideas what the jobs numbers were?

FC
 
cheers Frugi,

only just made a higher low on the 5-min chart (phew)

coupled with divergance on RSI (14) , and it looks like the trend up should continue..

🙂

FC
 
Right, hello everyone, I just thought I would say hi.... i have been watching the charts and postings for a couple of days... I had been watching some other threads, but crows in fields, well I lost the plot.. This thread seems spot on (and thats not nicking a name from someones trading system)..

I have in the past traded index futures, but was looking at currency futures (or perhaps the forex cash market, that seems popular on here.)

Rob
 
welcome sharpstuff 🙂

well done on thinking of making the switch to currencies.. they are so much easier than indices..

although they jump around like a monster, especially gbp/usd, if you have wide enough stops, they are relatively trendy on the longer timescales..and just hopping on for a few points here and there is a lot easier.

unlike the indices which until recently were pretty thin and stagnant, even a "quiet day" on FX can see moves of 70pips..

good luck with it all though 🙂

FC


blade said:
Right, hello everyone, I just thought I would say hi.... i have been watching the charts and postings for a couple of days... I had been watching some other threads, but crows in fields, well I lost the plot.. This thread seems spot on (and thats not nicking a name from someones trading system)..

I have in the past traded index futures, but was looking at currency futures (or perhaps the forex cash market, that seems popular on here.)

Rob
Click to expand...
 
FetteredChinos said:
welcome sharpstuff 🙂

well done on thinking of making the switch to currencies.. they are so much easier than indices..

although they jump around like a monster, especially gbp/usd, if you have wide enough stops, they are relatively trendy on the longer timescales..and just hopping on for a few points here and there is a lot easier.

unlike the indices which until recently were pretty thin and stagnant, even a "quiet day" on FX can see moves of 70pips..

good luck with it all though 🙂

FC
Click to expand...


Thanks.... expect dumb questions 🙂
 
little bit of flak further up FC with trendlines/resist at the next round number....toying with a Fib level on the mid term charts around this juncture, but agree, if it can make it to 8480/8500 we'll see how strong the bears are!!
 
hmm, finally EUR/USD is starting to move north. perhaps the bulls have woken up after 2.5 days on the sidelines.......

come on, lets see. 1.8550 tonight....


🙂
 
Long @ 1.8420
Short conditions didnt look quite right. Then an early long lunch hence not posting :cheesy:
Banging head on a fib but suspect we may see a test of 1.8550 trend line and 50% retrace now that minor hourly trend broken.... giving it a bit more thought 1.85 holding well for now may see that tomorrow if it gets there.

Happy Trading
NB
 

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