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Realities of Forex Investment
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hisah
#1711 Posted : Monday, February 20, 2012 4:37:23 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The worst price gaps always happen in asia session and always point to a selling bout for some few days or weeks.
Looking at the behaviour of Nikkei and HSI today, the morning session had huge price gaps and by the time the markets closed, all the gaps had been filled closing the day with very nasty dark candlesticks. Expect selling for a few days this week across board.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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QW25091985
#1712 Posted : Monday, February 20, 2012 4:41:41 PM
Rank: User

Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
Ceinz wrote:
QW25091985 wrote:
Ceinz wrote:
QW25091985 wrote:
QW25091985 wrote:
am long euro ! waiting to go up coz of 4 hr stochastic divergence . hopes it works out !



lol ! reverse that !


Euro long term bull, might rally t0 1.39, in a few weeks coming.


@ ceinz . you plan is coming into place . lol


Looks like this thing is headed to the moon. We need a lunar lander.Laughing out loudly


but lookn at the macd and rsi and all that they look so nasty and overbought ..i think we will have a big fall to close the gap !
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Ceinz
#1713 Posted : Monday, February 20, 2012 4:57:08 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
QW25091985 wrote:

but lookn at the macd and rsi and all that they look so nasty and overbought ..i think we will have a big fall to close the gap !


time for shorting is now.
“small step for man”
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hisah
#1714 Posted : Monday, February 20, 2012 7:06:26 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Most yen pairs on the daily look like this - evening star doji... bearish reversal setup confirmed. To make it worse the RSI is overbought and the abandoned baby aka dragon fly candle is outside the upper bollinger bands.





http://www.candlesticker.com/Cs73.asp
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Monday, February 20, 2012 7:07 PM | Reason: Not specified
hisah
#1715 Posted : Tuesday, February 21, 2012 12:10:48 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
hisah wrote:
hisah wrote:
I'll be adding more short term yen shorts on CADJPY, AUDJPY and GBPJPY in US session.

CADJPY - 80.00
GBPJPY - 125.50 - 126.00
AUDJPY - 85.50 - 86.00

GBPJPY short @125.65, AUDJPY short 85.51 & USDJPY short @79.30. Lot size 0.2 for the 3 positions, too overbought... Targets open for now.

Will ignore EURUSD for now.

Trade update - NZDJPY short @66.30 got stopped out @67.00 which was the SL after yesterday's ugly gap ups in asia session - 243 pips loss on lot size 0.3. Only AUDJPY is in slight profit of all the short positions.

I still fancy a sizable reversal at this point and will add onto the short GBPJPY, new short @126.50 lot size 0.1 and renewing NZDJPY short @66.80 lot size 0.2. These are risky trades that require steel balls for now, but the technical setups point to profitable reversals of at least 150pips before bullish momentum continues. Also note that these are short term trades for playing the reversal coming soon, but the medium structure on yen crosses has now turned bullish. Once the correction is over I will update the long trades when taken and add them to the long term trades list which includes short AUDCHF, AUDCAD, NZDCHF and NZDCAD. Yep, I'm a kiwi bear as well as a yen bear and soon to add aussie bear.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#1716 Posted : Tuesday, February 21, 2012 3:02:57 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Oil swiftly coming off overbought levels as well as yen crosses - yen shorts all in the money except USDJPY. Tomorrow morning I'll be short Nikkei and HSI at 9420 and 21300 respectively.

@fxtech - are you watching AUDUSD... This thing had better get a grip before the bears get in control.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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fxtech
#1717 Posted : Tuesday, February 21, 2012 6:13:50 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
hisah wrote:
Oil swiftly coming off overbought levels as well as yen crosses - yen shorts all in the money except USDJPY. Tomorrow morning I'll be short Nikkei and HSI at 9420 and 21300 respectively.

@fxtech - are you watching AUDUSD... This thing had better get a grip before the bears get in control.


@Hisah am keeping tabs with AUDUSD, but on EURJPY I still Hold BULL

EURAUD good bull trade, possible 150pips up
Discipline & sticking to your strategy even when you loosing defines great traders.
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fxtech
#1718 Posted : Tuesday, February 21, 2012 10:35:10 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
SHORT GBPJPY @ 125.82, TP 120pips, SL 40 Pips
Discipline & sticking to your strategy even when you loosing defines great traders.
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QW25091985
#1719 Posted : Wednesday, February 22, 2012 6:28:52 AM
Rank: User

Joined: 1/24/2012
Posts: 1,675
Location: In Da Hood
trade on eur$ long lol... target 50 pips
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hisah
#1720 Posted : Wednesday, February 22, 2012 9:56:48 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
hisah wrote:
Oil swiftly coming off overbought levels as well as yen crosses - yen shorts all in the money except USDJPY. Tomorrow morning I'll be short Nikkei and HSI at 9420 and 21300 respectively.

@fxtech - are you watching AUDUSD... This thing had better get a grip before the bears get in control.


Oil moves just mirror 2008 madness! Just defying logic and gravity! I had to cancel the Nikkei and HSI short trades in asia session to stand aside from this madness. Nikkei is extremely overbought on the daily.

@fxtech - I hope you have balls to hold onto the GBPJPY short. The beast usually makes wild moves and standing infront of this train can make one sweat plasma! USDJPY now tests 80 despite all the buy extremes and the reversal hints, overbought is an understatement! Still holding the short. When blow offs finally reverse, it is swift...



$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Wednesday, February 22, 2012 9:58 AM | Reason: Not specified
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