Forex

I am scared

Hey stephen,what do u think later today long or short

Dear All,

Just came back and looked at the market and charts...very interesting!

Wow! What a wild move!! Glad to know that most of you made great trades on the short side...my long from 206 got creamed sometime yesterday at 204.50 (-150 PIPs). Was travelling, so couldn't post much...

Had left a standing long order at 203.50 w hard stop at 201.50, which is filled and currently open. Have already moved stop to b/e..I think, we need a 205 break to upside, but given approaching weekend, anything north of 207 is questionable as of tomorrow...have put the limit of 206 on my long..let's see..

I still like the long side, mainly 'cause there are some nice bullish divergences on 4-hr charts, plus the equity markets are stabilizing (my naked puts for Aug and Jan have gained nicely since last couple of days). Any new shorts that might have entered from 207 levels since yesterday might want to take their profits and call it a weekend, pushing the pair higher. Also, though USDJPY is now determined to crack 100, it might take a week (or even a few months) before that happens...remember how EURUSD turned shy of 1.5000 so many times? On the other hand, if I look at GBPUSD, the monthly chart is very interesting and may suggest limited downside action as of now.

Aah...good to be back!

Welcome back Rahul

Your right Watt, I will not post this until I have seen it in action first hand over a period of time.

So Wall we are your lab rats, eh? LOL

Hey is there any fellow believers out there that believe that 203.50 will hold here and that all those Yen longs are taking profit and seeking after higher yields?

Long 203.25, 203.70.

Dear Watt, I don't have too much of a strong bias either way right now. I've seen the divergence Maratha mentioned, but my indicators are showing downward bias with indecision. I'd like more confirmation of direction.
EurAud +29
AudJpy +30

Nice to know someone else is a night owl. LOL

Me too Watt.

im always here, sometimes im only reading, and learning from u guys..

i have right now an open position, long at 203.5.. with profit.. the next week im going to vacations, i dont know if i leave the position open with stop lose at 202.9, what do u think ?

Well glad your back Rahul.hope your traveling went well! It looks like the charts are slowly working their way into buy mode.

Just wanted to thank all of you and let you know that since joining the forum and cataloging my thoughts and trades I have had one heck of a run. I was totalling up my pips and trades for the time frame of 2/26 to 3/13 and was able to traverse 2,879 profitable pips, a total of 38 entries with only 2 trades for -24. Over 12 trading days, not counting Sunday, I was able to average 239 pips a day. That is right in line with my long term daily goals. Needless to say my performance is a direct result of this resource.

Thank you!