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Realities of Forex Investment
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hisah
#1841 Posted : Thursday, April 19, 2012 7:20:05 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
hisah wrote:
New trade taken in asia session - short EURGBP @0.8260 lot size 0.2. Weekly objective points to 0.8100 as target. On a larger period (monthly) the objective is 0.7500. On the monthly chart an ugly H&S pattern has developed.

EURGBP is currently testing critical support levels on the week. Closing below 0.8170 this week will open up 0.8080 with more downside targets towards 0.78 and 0.75.

USDCAD momentum test trade is under water, but yet again after testing 0.98s the pair bounces. This trading range (0.98 - 1.00) is such a pain. NKT!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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QW25091985
#1842 Posted : Thursday, April 19, 2012 7:22:59 PM
Rank: User


Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
just took a small short on euro. i agree @ hisah . this week has been poor atleast for me
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Ceinz
#1843 Posted : Thursday, April 19, 2012 7:43:16 PM
Rank: Veteran


Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:
hisah wrote:
Ceinz wrote:
Eur/usd, looks like we about to plunge back to 1.30 support. A break below this our target will be 1.26 levels.

Trading this ugly sisters pair is not only torrid, but has become an unwelcome headache since last year. It's like there is a silent agreement on how the pair should trade. E.g. at 1.3s the euro is bloody expensive vs USD with all the econ fundamentals of eurozone. It would be easier if the ECB comes out like the SNB and says they have pegged EURUSD at 1.30 so that trading this pair makes sense. For now it is just a broken market with zero chances of making anything out of it.


Thanks. Makes a lot of sense.


Qw4545345 wrote:
just took a small short on euro. i agree @ hisah . this week has been poor atleast for me


Trading this pair this week made no sense.d'oh!
“small step for man”
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QW25091985
#1844 Posted : Thursday, April 19, 2012 7:44:48 PM
Rank: User


Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
Ceinz wrote:
Ceinz wrote:
hisah wrote:
Ceinz wrote:
Eur/usd, looks like we about to plunge back to 1.30 support. A break below this our target will be 1.26 levels.

Trading this ugly sisters pair is not only torrid, but has become an unwelcome headache since last year. It's like there is a silent agreement on how the pair should trade. E.g. at 1.3s the euro is bloody expensive vs USD with all the econ fundamentals of eurozone. It would be easier if the ECB comes out like the SNB and says they have pegged EURUSD at 1.30 so that trading this pair makes sense. For now it is just a broken market with zero chances of making anything out of it.


Thanks. Makes a lot of sense.


Qw4545345 wrote:
just took a small short on euro. i agree @ hisah . this week has been poor atleast for me


Trading this pair this week made no sense.d'oh!


i cannot agree more . i think i would have been better just to ignore it this week..its making breakout s then failing
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Ceinz
#1845 Posted : Thursday, April 19, 2012 7:49:46 PM
Rank: Veteran


Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
QW25091985 wrote:
Ceinz wrote:
Ceinz wrote:
hisah wrote:
Ceinz wrote:
Eur/usd, looks like we about to plunge back to 1.30 support. A break below this our target will be 1.26 levels.

Trading this ugly sisters pair is not only torrid, but has become an unwelcome headache since last year. It's like there is a silent agreement on how the pair should trade. E.g. at 1.3s the euro is bloody expensive vs USD with all the econ fundamentals of eurozone. It would be easier if the ECB comes out like the SNB and says they have pegged EURUSD at 1.30 so that trading this pair makes sense. For now it is just a broken market with zero chances of making anything out of it.


Thanks. Makes a lot of sense.


Qw4545345 wrote:
just took a small short on euro. i agree @ hisah . this week has been poor atleast for me




Trading this pair this week made no sense.d'oh!


i cannot agree more . i think i would have been better just to ignore it this week..its making breakout s then failing


Its been a nightmare, i'l avoid it tomorrow and next week, atleast after it pulls out of that ugly range.
“small step for man”
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Ceinz
#1846 Posted : Friday, April 20, 2012 9:19:01 AM
Rank: Veteran


Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
usd/ cad short taken, target 0.9880.
“small step for man”
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QW25091985
#1847 Posted : Friday, April 20, 2012 9:50:32 AM
Rank: User


Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
yep the pair euro$ is very messy . i hate triangle formations . but they are very volatile when they break . best to do with what the market offers you !
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hisah
#1848 Posted : Wednesday, April 25, 2012 8:11:45 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Hmmm... GBP is refusing to comply with the bad econ data that came out today showing that the UK econ is in recession again - double dip. When the selling bout comes, it will be interesting.

Anyone watching the EURCHF 1.2000 floor with hawk eyes like myself? SNB peg defending looms. If undefended first stop is 1.1750 then a bounce back to 1.1960 before the next down side aiming 1.1540. Beyond this point, this cross will unravel badly with sub-parity a possible target!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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fxtech
#1849 Posted : Friday, April 27, 2012 8:21:36 AM
Rank: Member


Joined: 5/31/2010
Posts: 325
Location: NAIROBI
Buying AUDNZD@ 1.2771 TP 1.2971 SL 1.2715
Discipline & sticking to your strategy even when you loosing defines great traders.
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Mitone
#1850 Posted : Monday, April 30, 2012 7:24:59 AM
Rank: New-farer


Joined: 1/27/2011
Posts: 14
Hey,

I wanted to know how I'd get into forex trading - i.e. what company I could use which is a legit company, because I hear a lot of companies collapsing every now and then. Is it possible to use a bank to trade currencies? I am interested in Kenya shilling, US dollar and uganda shilling.
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QW25091985
#1851 Posted : Monday, April 30, 2012 8:45:42 AM
Rank: User


Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
Mitone wrote:
Hey,

I wanted to know how I'd get into forex trading - i.e. what company I could use which is a legit company, because I hear a lot of companies collapsing every now and then. Is it possible to use a bank to trade currencies? I am interested in Kenya shilling, US dollar and uganda shilling.



But since you are just starting out why Not FIRST start with a No deposit forex broker !! what are these . these are broker that have free bonus accounts promotions running !!!! you need to first open an account with them and then give me your a/c details then i will trade for you...
this is how free bonus account works ? first you open an account with them then they credit your a/c with some little money ..this is real money bytheway.When you make a profit you can withdraw the money..and guess what ..you donot have to use your real money ..

here are some of the broker offering such accounts

http://www.100forexbrokers.com/no-deposit-bonus

pick your choice open an account verify it with scan for id and bank statement then when they credit it with the money give me the login details then you can start trading
i would suggest you open one with either (trading point ot forex-metal)
REMEMBER this is real money you are trading with so if you loose it you are doomed. even though not financially since the money isnt yours.
If you dont want to start trading with the bonus accounts then first demo trade then when you are satisfied you can open one of the above accounts
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dave.kim
#1852 Posted : Monday, April 30, 2012 8:20:18 PM
Rank: Member


Joined: 6/25/2010
Posts: 176
People has my chart gone bizark or the canadian made an 800pip move today??!!
Rule No.1 is never lose money. Rule No.2 is never forget rule number one
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abroaduni
#1853 Posted : Wednesday, May 02, 2012 2:39:13 PM
Rank: New-farer


Joined: 8/15/2011
Posts: 20
Location: denver
Great stuff you have shared here,I really appreciate it.It is really very helpful for me...

Thanks for sharing!!!

canada immigration

work in canada
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hisah
#1854 Posted : Wednesday, May 02, 2012 2:49:54 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
hisah wrote:
Hmmm... GBP is refusing to comply with the bad econ data that came out today showing that the UK econ is in recession again - double dip. When the selling bout comes, it will be interesting.

Anyone watching the EURCHF 1.2000 floor with hawk eyes like myself? SNB peg defending looms. If undefended first stop is 1.1750 then a bounce back to 1.1960 before the next down side aiming 1.1540. Beyond this point, this cross will unravel badly with sub-parity a possible target!

Still watching EURCHF with hawk eyes as 1.2000 peg looms large. This one will decide what happens to the euro very soon and especially this month. Will SNB eat losses yet again as they have since 2009 as peg after peg has been killed by Mr. Market...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#1855 Posted : Monday, May 07, 2012 1:14:35 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Ceinz wrote:
Still bearish euro/usd. target 1 : 1.2960.

@Ceinz - This target was eventually hit 3 weeks later.

Having broken down 1.2975 support level, EURUSD cross is now destined to test 1.28 and 1.26 in the coming weeks.
Eurozone is in a boiler room with all the elections coming up and with the wananchi tired and ready to put socialist parties in power. This will lead to an anti-austerity wave. I don't see how bankruptcies will be avoided with such a mood.
I expect two thing very shortly: -

1. The eurozone CDS market rates to go vertical very soon esp for PIIGS. Defaults are coming.
2. Eurobond yields for PIIGS to go vertical very soon. With Italy and Spain getting hit the worst.

Holding euro bank stocks is definitely dangerous business with anti-austerity wave sweeping nations. The political risk meter in euroland is edging higher as elections and referendums continue.

I suggest to keep an eye on the eurozone event risk calender going forward esp on bond auctions and elections.

And most important don't forget to watch out for that EURCHF cross peg...

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#1856 Posted : Monday, May 07, 2012 3:18:03 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Euro calender...

7 May: Germany to debate ESM. Parliamentary public hearing on the ESM Treaty.
13 May: German state election in NRW.
15 May: Flash Estimate EU and euro area GDP. Eurostat to publish preliminary estimates for Q1 2012 GDP.
25 May: German parliament vote on Eurozone ‘Fiscal Compact’.
31 May: Irish referendum on Euro zone ‘Fiscal Compact’.

10 June: French legislative election (first round).
17 June: French legislative election (second round).
18-19 June: G20 Leaders Summit, in Los Cabos, Mexico.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#1857 Posted : Tuesday, May 08, 2012 4:46:33 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Since May 2nd commodos and their related ccys have been taking it in the chin. Oil, gold, silver, platinum, AUD, NZD, CAD etc all being sold hard...

The euro election risk fever...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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QW25091985
#1858 Posted : Tuesday, May 08, 2012 4:54:03 PM
Rank: User


Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
now euro has refused to move ! i didnt know French elections will be this bad !
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hisah
#1859 Posted : Tuesday, May 08, 2012 5:27:07 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
QW25091985 wrote:
now euro has refused to move ! i didnt know French elections will be this bad !

Greece aka sparta is the wedge in the works. They wont be able to form a coalition gubberment with the current austerity parade. The socialist have taken over and a coalition that will be formed will most likely favour anti-austerity. That is putting risk on all those subordinated hellenic bond holders. The coalition could walk out of the austerity agreements and most likely choose the Icelandic default path. That will be the day!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#1860 Posted : Tuesday, May 08, 2012 7:14:37 PM
Rank: Veteran


Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
hisah wrote:
Ceinz wrote:
Still bearish euro/usd. target 1 : 1.2960.

@Ceinz - This target was eventually hit 3 weeks later.

Having broken down 1.2975 support level, EURUSD cross is now destined to test 1.28 and 1.26 in the coming weeks.
Eurozone is in a boiler room with all the elections coming up and with the wananchi tired and ready to put socialist parties in power. This will lead to an anti-austerity wave. I don't see how bankruptcies will be avoided with such a mood.
I expect two thing very shortly: -

1. The eurozone CDS market rates to go vertical very soon esp for PIIGS. Defaults are coming.
2. Eurobond yields for PIIGS to go vertical very soon. With Italy and Spain getting hit the worst.

Holding euro bank stocks is definitely dangerous business with anti-austerity wave sweeping nations. The political risk meter in euroland is edging higher as elections and referendums continue.

I suggest to keep an eye on the eurozone event risk calender going forward esp on bond auctions and elections.

And most important don't forget to watch out for that EURCHF cross peg...



smile

Cant agree more, the prospects are gloomy for this shared currency to say the least. 1.26 levels may be reached faster than soon.
“small step for man”
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