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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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  | | Edit by user: Thursday, April 19, 2012 7:50 PM | Reason: Not specified
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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