Forex/Cryptocurrency General Chit Chat Thread

[havetheveryfun]

you everyday trade so much got declare tax or not? lol

his monthly earnings is like a normal salaried worker, not really a lot but not that little either. Some ppl teach tuition earn over 10k a month also do not declare tax.

Whether forex trading gains should be declared or taxed is still a pretty grey area for individuals. At the start you can probably act blur until they chase after you then decide what to do. But I doubt they would unless you are making millions a year. Based on the rule about stocks, capital gains and dividends from stocks are not taxable. So forex should be the same, but some argues it is not the same.

Furthermore, most of the forex brokers are overseas. What this means is that so what if you earning lots of money in your account. Just be smart and withdraw only what you need and keep the rest inside (until the time when die die need to withdraw all) then nobody will know how much you are really earning except the broker themselves.

 

[Mr.Canberra]

Troll spotted!

 

[Mr.Canberra]

The Trading Floor (东方华尔街)

Wow another classic drama serial like The Greed Of Man (大时代)!

 

[Takodoro]

My indicator is when the trade becomes overcrowded. It is time to bail.

I suggest you monitor the weekly CFTC's futures contracts if you want to understand what I am talking about.

My contracts balance sheet is currently US$520,000 in total. Unrealised loss -US$16,000. I know I will have attain the next level of 'Forex manipulation' once balance sheet reaches US$1 Million!

Ai zai lah! Mai chua sai like chua sai boy!

I learn from the best.

FED: 'QE' to get free credit at almost zero cost out of thin air. Rollover perpetually or increase/reduce balance sheet according to circumstances.
MAS: Maintaining a basket of major currencies to preserve purchasing power parity.

Can spoonfeed some more?

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 25-29, 2018)

EURUSD:

Technical Outlook: The EURUSD currency pair fell back to the 1.1607 level of support as noted from last week. The declines came after the curency pair briefly tested the highs near the resistance level of 1.1848. The declines however look to be consolidating for the moment. A recovery around the 1.1607 is likely as the EURUSD could be seen retesting the resistance level near 1.1848. This is evidenced by the fact that the 4-hour Stochastics oscillator is posting a hidden bullish divergence.

Fundamental Outlook: After a rather busy week last week that saw the ECB’s meeting, the Euro markets head into a quiet period ahead. The economic calendar for the week ahead is mostly dominated by the flash services and manfuacturing PMI numbers. The data forecasts the economic performance for the month of June. With the second quarter of the year almost coming to an end, investors will be closely watching the flash PMI numbers as it could signal the potential GDP growth in the economic bloc. The Eurozone consumer confidence numbers will also be coming out to reflect the consumer sentiment in the region.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 25-29, 2018)

GBPUSD:

The GBPUSD has managed to get back inside the previous trading range after a false breakout down to the support level 1.3100. Last week low, now remains critical for the bulls and as long as we stay above it we can see more consolidation. However a break below 1.3100 will expose the big psychological number 1.3000 from where the bulls can have another chance to take control over the GBPUSD. The stochastic indicator is already in overbought territory, so we need more time until a reset happens in order for the bullish momentum to appear again.

On the upside, we have the 1.3450 top of the range followed by the big psychological number 1.3500. Only a daily break and close above the big round number 1.3500 can suggest that a major swing low is put in place otherwise we should expect more consolidation. The UK economic calendar will bring BOE Governor speechon Tuesday which is due to hold a press conference about the Financial Stability Report and Bank Stress Test results, in London. Friday, traders need to keep an eye on the final UK GDP figures for the first quarter of 2018.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 25-29, 2018)

USDCHF:

Technical Outlook: The USDCHF currency pair broke out from the sideways range established within 0.9894 and 0.9821. The upside breakout in prices pushed the currency pair to test the 0.9957 resistance. The upside momentum could keep the gains intact as USDCHF could be seen rallying to the next resistance level of 1.0042. This would mark a strong recovery in the USDCHF currency pair which was previously seen drifting back to form a bottom at 0.9821.

Fundamental Outlook: The week ahead will be dominated by the Swiss National Bank’s monetary policy meeting. According to sources, the SNB is expected to leave the 3 month LIBOR rate unchanged at -0.75%. The monetary policy decision due on Thursday will be followed up by a press conference. No changes are expected at this week’s meeting. Data from the U.S. will also influence the currency pair. Most of the economic reports from the U.S. this week will cover the housing market sector.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 25-29, 2018)

USDJPY:

Technical Outlook: The USDJPY currency pair was seen lifting off the support level at 109.97 to test the previously established resistance level at 110.91 – 110.66 region. The rally to this level looks to be a bit overstretched as we expect some short term correction. The declines are likely to send USDJPY back to testing the support at 109.97 and a break out from the rising price channel could signal a further decline back to 109.14. Alternately, to the upside, in the event of a breakout above 109.97, USDJPY could be seen targeting the 111.00 level.

Technical Outlook: The USDJPY currency pair was seen lifting off the support level at 109.97 to test the previously established resistance level at 110.91 – 110.66 region. The rally to this level looks to be a bit overstretched as we expect some short term correction. The declines are likely to send USDJPY back to testing the support at 109.97 and a break out from the rising price channel could signal a further decline back to 109.14. Alternately, to the upside, in the event of a breakout above 109.97, USDJPY could be seen targeting the 111.00 level.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 25-29, 2018)

USDCAD:

The USDCAD rally continued to extend breaking above multiple key resistance levels. In the short-term, we can see last week high being challenged again so a break above 1.3382 can’t be ruled out. We expect the breakout to fail around the 1.3400 level and we can even possibly see last week’s price range to be filled in if the broad based dollar weakness hit the markets. A daily break and close below Friday’s low 1.3259 can put in motion that bearish scenario. The stochastic indicator already had a reset and now it’s in neutral territory, so we still need to see it reaching again overbought levels before the downside momentum can be seen.

On the downside, below support level 1.3250 we have last week low 1.3157 but more importantly, we have the 1.3065 followed by support level 1.3000 as the line in the sand between the bulls and the bears. The Canadian economic calendar doesn’t have many risk events scheduled other than the BOC Governor speech which is due to deliver a speech titled “Let Me Be Clear: From Transparency to Trust and Understanding” at the Greater Victoria Chamber of Commerce, in British Columbia.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 25-29, 2018)

AUDUSD:

The Aussie broke to new 2018 lows, but the fact that we couldn’t post a weekly close below previous swing low indicates that the bulls are already trying to step in. As long as we stay above last week low 0.7346 we should expect the upside momentum to prevail. However, a daily close below 0.7346 can open the door for a retest of the next important support level 0.7265.

The stochastic indicator has reached overbought territory, so we need to wait for a reset before the bulls can show up. On the upside, the fist major resistance level comes at 0.7470 but the line in the sand remains the big psychological number 0.7500. There are no major risk events scheduled on the Australian economic calendar that can disrupt the market volatility. We should expect the AUDUSD to be more technical driven and more sensitive to the major technical levels.

 

[Mr. Wood]

G want to tax on forex gains? let them tax banks, temasek, fund house first then we talk.
make money want to tax then lose money they pay iszit?

 

[Mr. Wood]

Basics of forex

feel free to download

 

[Mr.Canberra]

TRY

TRY flip liao hahahaha.

NO STOP LOSS. I love Forex because the adrenalin is very addictive especially with half a million USD at stake!

 

[Mr.Canberra]

Brexit’s Big Short: How Pollsters Helped Hedge Funds Beat the Crash

Every now and then you will read scandalous news such as traders or big boys rigging the markets. Still do not believe the market is not rigged?

If investment/trading is so easy to make money then nobody will need to rig the markets!

https://www.bloomberg.com/news/feat...w-pollsters-helped-hedge-funds-beat-the-crash

See Bloomberg TV on the low down on how the insider info got exposed.

How big boys make money is because they have the resources and connections to front run the market.

 

[Mr.Canberra]

USD/JPY

I have a limit buy order camping at 108.90 for almost 2 weeks already. Intraday low for today is 109.378.

How many of you guys have a limit buy order below 109.00?

 

[Mr. Wood]

Fibonacci

feel free to *view*
cannot anyhow say d******d later kena sue for copyright.

 

[Mr. Wood]

if u guys find the readings useful, gib me more likes
I share more readings

 

[Mr.Canberra]

Mr. Canberra suan u not i suan u what.. why u angry with me

My friend you have to earn your lifetime right to humiliate chua sai boy.

He eat back his own words after breaking his promise not to ever post in a thread that I started. This happened when he pissed me off and insulted my intelligence on the first Forex thread that he started. He spoke arrograntly with the likes of Jamie (Daimon) with over the top troll comments. Pun intended!

So I started a new Forex thread (the current active one) and all the regular posters migrated over and boycotted his thread (die a natural death). As you can see he pissed off quite a few people.

Then after tio chak he can still post saying he don't hold grudges to justify his actions. Until now he still post nonsense comments on my thread.

So much for 'principle' by ExtremeWays aka Daimon hahaha! As you can see he refer me as a ******. I am already very kind to just call him chua sai boy.

Thanks.... My principle is not to post even a single post in that ****** thread.

 

[Mr.Canberra]

New York

New York session is opening. Let's trade.

 

[Mr.Canberra]

EURO-DOLLAR: MNI KEY LEVELS

EURO-DOLLAR: MNI KEY LEVELS

*$1.1995 200-dma
*$1.1909 38.2% $1.2555-1.1509
*$1.1851/52 Jun14 high/50-dma
*$1.1757/70 1% vol band/76.4% $1.1851-1.1509
*$1.1730/44 1.618% swing $1.1645-1.1508/Hourly resistance Jun14 <-Expect profit taking here
*$1.1720/26 61.8% $1.1851-1.1509/Jun13 low
*$1.1702 Intraday high
*$1.1684 ***Current market price 1251GMT MONDAY***
*$1.1629 Intraday low
*$1.1601 Jun22 low
*$1.1592/75 Hly low Jun21/50% $1.1509-1.1675
*$1.1572/48 61.8%/76.4% $1.1509-1.1675
*$1.1509 Jun21 low(YTD low)
*$1.1500 Option linked support
*$1.1480/79 1.618% Swing $1.1543-1.1627/Jul20 2017 low