Forex Cryptocurrency General Chit Chat Thread 2019

[IceCreamPoop]

not sure about that yet, it did gain support level strongly on 4hr at least but not yet above daily level

i was in and out 60pips EurJpy before it pumped for another 30-40pips
GbpJpy went for 200pips!

most xxx/jpy looking like they just did retracement back down and ready for 3rd pump up...if it fails at the most recent local highs and form M reversal pattern then i might go for shorts

Seems like start of a range to moi

I think i figured out why i lost so much recently. I wasnt tracking the news and when trump happened i **** bricks and started yolo trading. When trump ended i was still shooked and did not go back to my range bound trading that i chose.

Hopefully now if i go back to my initial swing trading range bound pairs and track news **** works out fine.

 

[edwardZ]

Seems like start of a range to moi

I think i figured out why i lost so much recently. I wasnt tracking the news and when trump happened i **** bricks and started yolo trading. When trump ended i was still shooked and did not go back to my range bound trading that i chose.

Hopefully now if i go back to my initial swing trading range bound pairs and track news **** works out fine.

ya stick back to your own basics and rules...if some major move happened suddenly, usually i skip the affected pairs for 1-2hrs instead of fomo/yolo into them...lessons learnt painfully last time

this week and past 2 weeks were quite roller coaster, trump happened for 2 weeks then this week is back to brexit and euro news crap

each country/politician take turns to wack the markets, beginning to think they all backstage all ownself trade ownself before release news

 

[edwardZ]

xxx/jpy pairs mostly look like finished retracements yesterday and bouncing off strong support level today, after their run up on tuesday...looking to see if they will form W shape reversals after potential 'stop hunt' run later today around london time, one-half of the W already formed anyway

if market makers show hand today for uptrend continuation, i think UsdJpy will have home run till 110.9xx and EurJpy to 124.1xx (but bunch of Euro news today to wreck some havoc)

 

[tsipacse]

I share the same view as you. I like NZDJPY at these levels. Which pair are you looking at?

xxx/jpy pairs mostly look like finished retracements yesterday and bouncing off strong support level today, after their run up on tuesday...looking to see if they will form W shape reversals after potential 'stop hunt' run later today around london time, one-half of the W already formed anyway

if market makers show hand today for uptrend continuation, i think UsdJpy will have home run till 110.9xx and EurJpy to 124.1xx (but bunch of Euro news today to wreck some havoc)

 

[IceCreamPoop]

Anyone planning to swing trade gbp pairs all the way to jan lows? Or at least until brexit settles?

 

[edwardZ]

I share the same view as you. I like NZDJPY at these levels. Which pair are you looking at?

i'm looking at UJ and EJ but looks like risk off mode and jpy strengthened during london time, need to let the new structure play out, current one invalidated for now

 

[Mr. Wood]

 

[Mr. Wood]

https://www.nytimes.com/2019/05/24/world/europe/theresa-may-resignation.html

 

[Mr. Wood]

Mon May 27
11:00am JPY BOJ Gov Kuroda due to speak at the Think20 Summit

Tue May 28
Tentative GBP Inflation Report Hearings

Wed May 29
5:00am NZD RBNZ Financial Stability Report
8:00am JPY BOJ Gov Kuroda due to deliver opening remarks at the BOJ-Institute for Monetary and Economic Studies Conference, in Tokyo
9:00am NZD ANZ Business Confidence
NZD RBNZ Gov Orr ue to testify about the Financial Stability Report before the Parliament Select Committee
10:00pm CAD BOC Rate Statement
CAD Overnight Rate

Thu May 30
9:30am AUD Building Approvals m/m
AUD Private Capital Expenditure q/q
10:00am NZD Annual Budget Release
8:30pm USD Prelim GDP q/q

Fri May 31
2:15am CAD Gov Council Member Wilkins Speaks about Canadian and global economic developments and how they impacted the recent interest rate decision
8:30pm CAD GDP m/m

 

[IceCreamPoop]

Isit the ema ma cross over?

My newb opinion is that at best consolidation as there is still no actual win all plan for brexit. Even if auntie may zao the shitstorm stays at the same place.

Thoughts?

 

[Mr. Wood]

Isit the ema ma cross over?

My newb opinion is that at best consolidation as there is still no actual win all plan for brexit. Even if auntie may zao the shitstorm stays at the same place.

Thoughts?

not cross over.
is use 200sma and 200ema and it converges. strong resistance.
look at stochastic is ranging for now.

 

[edwardZ]

new trading week! GLHF everyone!

back to watching xxx/jpy pairs, i believe they are bottoming out but need to wait for London and NY to show hand later...maybe only tomorrow then can tell if will go lower or not, earliest tonight but its bank holiday in US hmm

now UsdJpy doing its classic pump before possible dump later to wick down and take out stops and fake the breakout traders...lets see

 

[tsipacse]

Looking for an exhaustion candle/ending diagonal later?

new trading week! GLHF everyone!

back to watching xxx/jpy pairs, i believe they are bottoming out but need to wait for London and NY to show hand later...maybe only tomorrow then can tell if will go lower or not, earliest tonight but its bank holiday in US hmm

now UsdJpy doing its classic pump before possible dump later to wick down and take out stops and fake the breakout traders...lets see

 

[IceCreamPoop]

Coin flip us china trade deal lol

Gbp consolidating for now ~

 

[edwardZ]

Looking for an exhaustion candle/ending diagonal later?

not sure what are those

i generally look for market maker patterns...for example, today on the jpy pairs, the big boys did a minor pump up and dump after that to the bottom and complete multi-day W reversal...i took short scalps down to 50 ema but it went further, which was where i wanted it go, hit bottom and form a secondary W and re-pump

not sure how strong the bounce will be so i closed off after grabbing my pips...wait till another trade, nowadays not safe to hold too long and my previous swing strategy has been not efficient

 

[blurinvestor]

GBPJPY

2 targets -
138.952
137.576

both attainable BUT top first or bottom first?

 

[edwardZ]

GBPJPY

2 targets -
138.952
137.576

both attainable BUT top first or bottom first?

this is retail volume? on which broker platform?

looks like the big boys will short and aim to eat the Longs since the total Long volume is juicy

my bias is that it will go up for xxx/jpy tonight but not sure how much, also depends on whats the pattern of the candles and structure like nearer to end london and pre-NY

 

[blurinvestor]

GBPJPY

2 targets -
138.952
137.576

both attainable BUT top first or bottom first?

Another day - same story, building support to increase buyers then a sudden spike up and bring price down lower than yesterday.

if you see a sudden spike up with extreme M1, M5, M15 bull candles - SELL.

Or set a sell limit and sleep.

I could be wrong so STOP LOSS is my friend. I prefer to give market KFC or DTF money then sitting in **** amount of unrealized lost.

 

[blurinvestor]

closed GPBJPY now

 

[blurinvestor]

Never ever BUY GBP , let it goes up all the way it wants, only look for place to fake. Unless, you need a holiday in London but not forex trading. Even Theresa May bowed down under pressure.

Never LONG YEN pairs for a reason which is too simple that I'm embarrass to state.