What's your view/opinion on today's market movements?

[dkami]

EU ended up giving nice setup on H4 1st limit order hit @ 1.3871 and looking to enter again @ 1.3900 1st targeting 1.3750 with SL above high

1st target hit

 

[dkami]

A trade I'v been waiting for for some time now to give good RR that is what I would call a medium term trade (could take few weeks to couple of months to play out) is finally starting to give the RR I'm looking for

I'll be shorting EURAUD @ 1.5500 and 1.5640 limit orders as I can't watch market 24/5 and another one between 1.5640 and 1.5830(safer way is bearish candle pattern off your resistance level on H4) with SL above 1.5832 with 1st target @ 1.4985 (as I don't use SL if price goes against me I will hold for positive swap and get out on retracement @ break even fingers crossed)

P.S. This goes with out saying but only trade @ your own risk and use proper MM as on MN this retrace is only just above 38.2fib and could go much much higher

1st target hit with over 500pips

P.S. sorry for late response when hit 1st TP but went fishing for a couple of days

 

[RahmanSL]

1st target hit with over 500pips
P.S. sorry for late response when hit 1st TP but went fishing for a couple of days

Woooh that's fantastic my friend! .....yes, indeed, it's much better to enter trades, set TP, close computer, and leave the trades to run their course for TP to be triggered.
...hmmmm...business must be that good to take time off to go fishing ....salt or fresh water fishing??....I use to go salt water fishing a lot (plus spear fishing), but have not done any of that for a very long time .......
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I am stuck on trading the AUD/JPY and AUD/CHF......did okay and managed to increased my total account balance by 2.22% yesterday......will have to watch and continue to trade the two pairs carefully....and I really hate having to pay daily negative swaps

Yesterday I requested second withdrawal (via international bank wire transfer) from my broker ICM and the money is in my bank account within 24 hours

So now my "small trading account" is even "smaller" still as I have withdrawn almost 50% of total account balance....but I am now "playing" with almost all profit money
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I need to add that main reason I traded the AUD/JPY is because the JPY is too weak (Abenomics has backfired and bite him on the ass) and the AUD is too strong for the Aussie comfort as they would prefer the AUD to be just below the 0.90 levels for the AUD/USD

As for the AUD/CHF......well, to be honest.....I am quite baffle as to why the Swiss currency should depreciate that much against the Aussie dollar since the CHF should be relatively stable....but I guess the main reason I traded that pair was because...hmmmm....good idea at that time ....idiotic and quite senseless trade....but that's me!....will have to somehow exorcise that bad habit and cleanse it completely out of my system at the soonest opportunity

 

[RahmanSL]

I have to take the time to post this as I have intercepted “smoke signal” apparently from Mr. Putin in reply to Native Americans' application to join Russia (see post#138 in this thread:
My friends at the NSA just intercepted something that should liven things up a little:
Dear Mr. Putin,
Please accept this application on behalf of the native people's of the United States. We have all just voted that our "reservations" succeed from the USA and join Russia. Please send troops to protect us from our oppressors.)

Grist of smoke signal message:
*Note: Interpretation of smoke signal might be a tiny bitty bit distorted due to presence of slight breeze at time of smoke signal transmission.

“…no can do…you not my children like my son Crimea….son Crimea mistreated by my ex-mistress Ukraine…cry cry all time…want come back to house Russia…I love son and want best for him….you have own room in house USA…plenty fish and deer to eat…stay with your father USA…ache hey”

…and few minutes later, followed by:

“opphhs.…sorry wrong language…that was Hindi....ciao good bye”

 

[dkami]

Yea been some time since I went fishing as it was a bit hard living in the middle of a desert but now I live on the coast so no need to take time off work(day job)just went on roster days off

32 snook and 4 snapper 1st day catch

pic not uploading

 

[RahmanSL]

Yea been some time since I went fishing as it was a bit hard living in the middle of a desert but now I live on the coast so no need to take time off work(day job)just went on roster days off
32 snook and 4 snapper 1st day catch
pic not uploading

By any chance, you anywhere near Queensland??? I have been trying to contact an old buddy for years....tried facebook, google search, etc....with no luck.
Maybe listed in Queensland tel book...


Unable to upload photos??....have you gone on "Go Advance" and then upload photos via "Manage Attachments"....but remember to upload photos in JPG files : )

My abode is surrounded by sea and my house is just over 150m from the sea....yet I cannot "find/make" time to go fishing ....guess it's all boils down to whether we really want to do the things we say we like to do.....or it's all got to do with age ....the only exercise I do these days is in my home gym....and, for interest & hobby, periodic trips to nearby Philippines

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Since you are at "ground zero", what's your take on the AUD??
Somehow, I suspect it will suddenly drop to just below 0.90 levels without much warning so as to get rid of as many preset SL on the longs as possible......then, it will truck on to the 0.94-0.95 levels.
But I don't think your RBA will be very happy with those high levels as they admitted to preferring the AUD to be just below 0.90 levels

 

[dkami]

By any chance, you anywhere near Queensland??? I have been trying to contact an old buddy for years....tried facebook, google search, etc....with no luck.
Maybe listed in Queensland tel book...


Unable to upload photos??....have you gone on "Go Advance" and then upload photos via "Manage Attachments"....but remember to upload photos in JPG files : )

My abode is surrounded by sea and my house is just over 150m from the sea....yet I cannot "find/make" time to go fishing ....guess it's all boils down to whether we really want to do the things we say we like to do.....or it's all got to do with age ....the only exercise I do these days is in my home gym....and, for interest & hobby, periodic trips to nearby Philippines

=================================

Since you are at "ground zero", what's your take on the AUD??
Somehow, I suspect it will suddenly drop to just below 0.90 levels without much warning so as to get rid of as many preset SL on the longs as possible......then, it will truck on to the 0.94-0.95 levels.
But I don't think your RBA will be very happy with those high levels as they admitted to preferring the AUD to be just below 0.90 levels

No I just moved from far north west QLD to down south!

Well AU just about hit .9300 which I have been suspecting for some time now but as I'v said price mist my limit order by about 20pipsso missed out on about 450 odd pips there

Right now I don't have any setup on AU even on smaller time frames but yes I do expect a bit of a pullback on H4 as its in over brought and suspect price to come back and test broken trend line around the .9060 area but are very suspicious as .9303 my D1 resistance was not tested

Maybe a H1 short setup in US session but I will not be taking it as it's Friday with a big green candle on W1 and I hate paying swap and I also think it would be much safer shorting off D1 resistance for initial bounce

Yea think its my slow internet speed why pic won't upload but will send pic threw when I get my speed back next week

 

[RahmanSL]

I don't like paying negative swaps too, BUT like I mentioned earlier on today, I am stuck on some AUD/CHF and AUD/JPY .....and the one thing I dislike more than having to pay negative daily swap is closing out positions in losses which I might have to consider late into the American session today

During my rookie years, I once shorted the AUD/USD at the high level at 1.10 levels and then, maintaining two or three of the shorts at the highest levels, I scalp the hell out of the pair all day & night long and, I think, I made over usd15k profits in that trading session alone until I got tired of making money....Then the very next day, I made some very bad trades and wipe out my entire trading account

Goes to show once we start making money we can get over confident, arrogant, and over traded

Ok, all the best!

 

[RahmanSL]

Weekly updates:

Weekly gain over deposit: 74.30%

Requested and received 2nd withdrawal into my bank account within 24 hours from my broker ICM. Fantastic!...

Next week, my "small trading account will be even smaller still.....but it's better for me coz I tend to trade more carefully with "small account"
So I will be starting with another "new" "small trading account" balance.

Since I am "stuck" with shorts on AUD/CHF and AUD/JPY (and incurring daily negative swaps too), I really don't know how I will trade next week.
So, no trading plans except to try to close out all running positions as they go into some profits .....and possibly take some quick scalp trades as opportunities arises.

 

[RahmanSL]

I noticed that most "Analyst" write/post are based on technical stating if the currency go up or down to certain levels....or if certain key data come in better or worst....then we get a sell or a buy. That is merely stating the OBVIOUS which any trader who have gone through their basic forex education should know.
However, very few "Analyst" give their personal sentiment/opinion of probably market movements (except Sive Morten). This is understandably so, I supposed, because they are afraid of being wrong in stating their personal opinion/view.

At the other end of the spectrum, there are those "fortune teller" type Analyst (at least two here at our FPA site) who will dish out multiple ill conceived "forecast" in the hope that most of them will hit their forecast mark....and discarding & attribute the losing ones to "cannot win them all in forex" and without a thought in the world to those poor suckers who believed in them and lost money taking their "expert analysis".


I am posting this to caution Traders (especially Newbies) not to blindly follow "free" signals but to use the rationals & reasons (if any) given to compliment your own analytical assessment of the forex market. If these rationalities basically reflect, or are in agreement with your own sentiments, you will then have a better chance of winning in the forex market.

Remember that ALL Analyst are human beings too, prone to mistakes and fallible.