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Realities of Forex Investment
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Ceinz
#901 Posted : Thursday, April 07, 2011 11:55:39 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:
Ceinz wrote:
EUR/JPY long position @121.80, SL 121.43


Trade was closed @ 121.89 (Inpatience)Sad

Long on AUD/JPY @ 89.13, SL 88.75.

“small step for man”
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Ceinz
#902 Posted : Thursday, April 07, 2011 12:34:29 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:

Long on AUD/JPY @ 89.13, SL 88.75.


Trade exited @ 89.25.

Will be loooking for long opportunities on this pair, EUR/JPY and GBP/JPY pairs later in the day.
“small step for man”
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  | | Edit by user: Thursday, April 07, 2011 5:06 PM | Reason: Not specified
Ceinz
#903 Posted : Thursday, April 07, 2011 8:31:01 PM
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Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
The Anatomy of a Forex Trader.
“small step for man”
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Ceinz
#904 Posted : Friday, April 08, 2011 9:39:45 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
EUR/JPY is testing the 122.50 mark, which served as resistance earlier this week. A break above this resistance will be bullish for the pair and will trigger my long entry. However I will maintain a tight stop (afraid of yesterdays yen whipsaws after another quake scare).
“small step for man”
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mnandii
#905 Posted : Friday, April 08, 2011 10:59:48 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Thanks 4r ua trade ideas guys. I've been trying my hand on forex for s'time. Cud u guide me as to which indicator(or resource) from where I can get info on real time trade volumes of forex pairs. If, for example, GBPUSD is rising can the volumes sustain the rise. I use oanda.com
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Ceinz
#906 Posted : Tuesday, April 12, 2011 1:15:10 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Long on EUR/USD @1.4446, TP 1.4520 and EUR/JPY @ 121.91, TP 122.45.
“small step for man”
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hisah
#907 Posted : Tuesday, April 12, 2011 4:19:08 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The USD index is not looking good to say the least. A collapse is coming as per the long term chart below if 74.23 support level doesn't hold the selling pressure. Beyond this level, it will sell off towards 71 - 72 and the RSI is not yet oversold?!. MACD too is still bearish. That means all the USD pairs will be pressured lower. AUDUSD could most likely take out 1.07 and EURUSD targets 1.47, the GBPUSD will target 1.66 - 1.67 and USDCHF targets 0.86 - 0.87.

In short Aussie and Swissie to be very strong as gold and silver also support the moves higher.

There's too much going on with the USD this April, while this is extremely bearish, be on the look out for a sharp turn coming weeks as the long term RSI sinks into oversold levels - most likely the rebound should come in June - July as QE2 unwinds. If QE3 is provided (and the mad men at US Fed bank) can do this, that will devalue the USD further at which point it will be senseless to hold USD bills...

Copy this link to your browser http://stockcharts.com/h-sc/ui?c=$USD,uu[h,a]waclyyay[pb40!f][vc60][iue6,12,9!lj[$spx]]
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#908 Posted : Wednesday, April 13, 2011 10:41:52 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:
Long on EUR/USD @1.4446, TP 1.4520 and EUR/JPY @ 121.91, TP 122.45.


EUR/JPY SL was hit (-80 pips),Sad Cant really comprehend why lately there have been whipsaws in JPY crosses esp during early hours of American open. Lesson 'Handle the yen with care'
good news: So far, have scalped back (35 *2) pips on the pair this morning. smile

EUR/USD tarde exited @ 1.4494 (+ 48 pips)
“small step for man”
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hisah
#909 Posted : Wednesday, April 13, 2011 3:36:40 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Ceinz wrote:
Ceinz wrote:
Long on EUR/USD @1.4446, TP 1.4520 and EUR/JPY @ 121.91, TP 122.45.


EUR/JPY SL was hit (-80 pips),Sad Cant really comprehend why lately there have been whipsaws in JPY crosses esp during early hours of American open. Lesson 'Handle the yen with care'
good news: So far, have scalped back (35 *2) pips on the pair this morning. smile

EUR/USD tarde exited @ 1.4494 (+ 48 pips)


As long as the yen is massively intervened, the whipsaw effect will be the order of the day. Anyone who traded EURCHF in 2009 after the global bailout can tell you this story. The whipsaw was a rollercoaster. BoJ won't let go of the Yen easily, but they will in time and I expect USDJPY to hit 70.00 or lower! The yen will appreciate like it or not. The SNB tried the same tricks with EURCHF to devalue the swissie against the euro and failed. The same game is being played on EURJPY by BoJ and co.
The market always makes its price. And this intervention in due time will also fail... Therefore trade the JPY cross with care and tight stops.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#910 Posted : Wednesday, April 13, 2011 5:12:11 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
hisah wrote:


As long as the yen is massively intervened, the whipsaw effect will be the order of the day. Anyone who traded EURCHF in 2009 after the global bailout can tell you this story. The whipsaw was a rollercoaster. BoJ won't let go of the Yen easily, but they will in time and I expect USDJPY to hit 70.00 or lower! The yen will appreciate like it or not. The SNB tried the same tricks with EURCHF to devalue the swissie against the euro and failed. The same game is being played on EURJPY by BoJ and co.
The market always makes its price. And this intervention in due time will also fail... Therefore trade the JPY cross with care and tight stops.


Cant agree more. The trend has been downwards from a high of 123.3 in June 2007, and in light of current happenings the pair is headed to the 70s level.
“small step for man”
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