₦airaland Forum

Add a Sell Stop 106.85 on crude, with a 40pip SL. TP at 105.84

@Onlineresource I'd wait for price to breach 1283.xx to short.

Still holding a long position from 1290.71 though (SL 1286.68). I reckon we'll see above 1300.xx but let's see what the US Trade balance numbers would be.

If you're familiar with myfxbook, they've just launched a new feature.

http://www.myfxbook.com/forex-market/liquidity

Provides rough estimates of the trading activity in the forex market using tick data from various brokers.

(Of course, these are just estimations)

rozayx5: yeah cause of over respect for rate related news

Well, better trading opportunities lay ahead.

Wish I had posted this earlier - http://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/trading_news_reports/2013/08/05/Forex_AUDUSD-_Trading_the_Reserve_Bank_of_Australia_RBA_Meeting.html

^^ Very Inspiring. I wish her all the best.

She's definitely bound for great things in future.

rozayx5: ATM don fall hand be dat

You closed out the Eur/Aud trade?

XHTML: A rate cut is very likely, I'll maintain that Eur/Aud short. My sl is in place.

(I have a pending buy order Aud/Usd as well). The AUD/NZD is another interesting pair to watch out for.

All trades in profit. AU with 50+pips, AUD/NZD (bought) with 30+pips and Eur/Aud with 105+pips.

The rates were cut by 25basis points to 2.5percent.

A rate cut is very likely, I'll maintain that Eur/Aud short. My sl is in place.

(I have a pending buy order Aud/Usd as well). The AUD/NZD is another interesting pair to watch out for.

rozayx5: sold EURAUD

@1.4885

Seems we were both looking at this pair. Got in at 1.4868, SL 50pips, TP @ 1.4735.

onlineresource: nice to have you back...

Gold still moving down today till 1297 area before reversing like this evening or 2mao
morning...

Yes, I agree with the bolded. Especially with the US Non-Manufacturing ISM Report beating expectations.

Bought crude, with a 50pip SL and TP at 107.34. It was oversold with the Average range maxed out, so I'm not taking any further shorts today.

Buy USD/JPY with a 30pip SL. TP 99.10.


(On the flip side, Went short on the Aud/USD, My Tp at 0.8856. SL 25pips - but this is a tad risky.

Closed my last crude trade.

Sellstop 1.5361 on GBP/USD, should be good for 60pips (and possibly more). SL 30pips

Watching to see if the 106.xx support would be breached on crude. Then I'll sell to 105.xx

Sellstop 1312.34 on Gold. Target 1295.xx (Sl, likely 400pips when triggered).

Eyeing a short on the USDCAD (from 1.0375), but Bank Holiday in canada, I may as well avoid this pair today.

martog: We missed your input

Good to be back on the FTA thread to benefit from everyone's trading ideas. Little offline engagements here and there took me from the PC. Typing via mobile just doesn't cut it for me.

On crude, Sellstop 107.36 pending. First TP target 106.31. (SL 30pips if triggered)

Good idea to keep an eye on the EU Sentix, EU retail sales, US ISM services numbers today.

A couple of things I'll be watching out for this week. This writer hits a couple of them - http://www.forexcrunch.com/forex-weekly-outlook-august-5-9/

Hope everyone has a successful trading week!

Buystop Eur/usd 1.3208, SL 1.3185, TP 1.3246
SellStop USDCAD 1.0305, SL 1.0328, TP 1.0269,
Buystop Aud/Usd 0.9179, SL 0.9149, TP 0.9228

Got those pending orders waiting. You may want to crosscheck with your trading system before taking them.

OliverPin: ok thats very great. where can i get something like that for mt4? and pls do

Here Attached. The swing points indicator. MT4.

OliverPin: sire Xh welcome bk. i have a Question for you ooo. those arrows on the screen shot you posted. what are they for?

The blue/red arrows? Just swing points (highs/lows).

I've been working on putting some finishing touches on a stochastic based 'overbought/oversold' indicator (the red/blue shaded areas on my chart), will upload it once I complete the backtesting.

Hopefully someone will find it useful - little graphical representation of overbought/oversold levels so a trader can be cautious with regards to taking a trade. (Of course you can still use the stochs or RSI indicators for that, as this takes up a bit of the chart area).

@Kirinwa, Do take it easy and take a break if you need to, trading under pressure most often leads to mistakes and losses. Better days are ahead.

Ranging markets (coupled with low volatility), the past couple of days on several pairs, hence I stayed away from the currency pairs to strictly Gold.

Anyways, Buystop 1323.86 placed on Gold. SL around 1312.xx. Looking to TP at 1340.xx (barring any concrete reasons to leave it on further).

First off, on gold, if you didn't catch that first move, place a sellstop 1313.4x, TP at 1301.xx

What a day it's been.

EU, GU, UsdCad, UJ, AU, UsdChf and Gold.

JAkpayen: I'm seeing gold heading above 1300 likely 1330 for today

1298.xx looks like the ceiling for today. In an hour time when Bernanke starts his Q/A session, Price will rally down.

Just a thought. I could be wrong.

natruetalk: House

am eyeing Aud/usd or Eur/usd buy

what do you think of this?

Hmm, I'd say it's a bit late to buy Aud/Usd, I'm going to exit my long in a moment. Same with Gbp/usd, I exited my long, we'll likely see retracements.

Most of those surges are top shots liquidating their positions. I scalped some, but I'm watching to take the opposite side of those surges (like gold for example, I'm already in on a sell position ~ 1297.xx).

But that's my view anyways.

Back to basics. Scalping.

@onlineresource I exited all my positions on the usd pairs and gold (besides a sell position on the Eur/usd ~ 1.3163).

I've got my head buried into the newsfeeds at the moment, hopefully early indicators can be picked up.

Text of Bernanke's testimony will be released 90 minutes earlier. I would've missed out on that.

USD/CHF is currently oversold, there's a slim chance it will continue downwards (barring any fundamental triggers)

A retracement is likely, from my view.

Funny reaction from the CPI data release. As expected, a lot of sectors will choose to stay on the sidelines and not buy the USD ahead of Bernanke's testimony tomorrow.

Sellstop 1290.20 Gold.

Buy stop 1.04170 USDCAD. SL 25pips.

@onlineresource That's scheduled for tomorrow, 3pm (Nigerian time) .

Sources tell me being under pressure, there's a high chance his speech will undo most of July 10's surges across the USD pairs.

onlineresource: still in this trade with about +100pips
expecting price to break the level above 1298-1300 to pave way for 1316-1320 area

I got in 1284.21. and had my TP at 1293.40. Resistance at 1298.xx is a keen one. We won't likely see 1300.xx levels today however.

I'll be on the sidelines, watching for an entry to short after this trade.

Mr_Nice_Guy: just bought EU and GU.. bon voyage...

Eur/Usd: I've been watching for a rejection of the 1.312x resistance to sell.

IMO, there isn't much room to the upside. There will be a retracement. Just had my sell limit order triggered.

SellStop 106.20 Crude. SL 106.50. TP 104.55

onlineresource: i needed to explain the reason for the trade from my perspective...
Thats what i do mostly on weekends...

And a good analysis it was. I'm expecting a dip to 1280.xx - 1278.xx, where I'll be watching for a good spot to go long if the trendline isn't broken.