Forex/Cryptocurrency General Chit Chat Thread

[cowftw123]

Sorry to say this but precious metals/commodities are bearish bias near term.

I see gold heading to 1200 (physcological level) which is very strong support level here. Unless USD is super bullish then can break below 1200.

USD/JPY breaking above 113.0 and USD Dollar Index back to 95.0 is a clear sign of USD bullishness.

2 more Fed rate hikes for the rest of 2018 is a 90% done deal and priced in now.

By end Dec 2018 the Fed Funds target rate will be 2.5%. I wonder the mortgage loan defaults will explode even more loudly?

Thanks a lot for the advice! Probably cut my loss and try to gain back from elsewhere Need to learn more so can jiak hong like uncle already

 

[Mr.Canberra]

Gold

Thanks a lot for the advice! Probably cut my loss and try to gain back from elsewhere Need to learn more so can jiak hong like uncle already

Do not take my word for it. Use your own independent analysis.

All the best.

 

[Mr.Canberra]

EURO-DOLLAR: Recovery efforts held shallow at the...

EURO-DOLLAR: Recovery efforts held shallow at the NY crossover with slippage extending to fresh daily lows of $1.1602. A break of the $1.1600 level opens support from the Jul2 low at $1.1591, ahead of $1.1576/51 (76.4%$1.1509-1.1791/Bollinger band base). EURUSD is currently generating a near clean sweep of bearish signals, according to the MNI FX Technical Signal Monitor.

 

[Mr.Canberra]

EUR

Wow flip liao!

My EUR/JPY and EUR/USD short positions recovering. $$$ come come come!

 

[Mr.Canberra]

DOLLAR-YEN: Price action picking up in USD/JPY as...

DOLLAR-YEN: Price action picking up in USD/JPY as US traders enter the fray -CME Yen futures now registering their best volumes of the session so far with over 6,000 contracts changing hands on the most recent downtick (equivalent to circa $680mln). Next support kicks in at Y112.64/57, marking the hourly highs and lows from Jul17.

 

[dexboi]

Gold on the daily chart is very obvious downtrend. By longing Gold, you are trading against the trend which is VERY DANGEROUS.

Keep it really tight and quick, Gold has always been very 'trend following'.

And perhaps Oanda recent Gold trading promo encourages more ppl to trade Gold/Silver, I hope you are not gaming too much for the gold bar. It's tough to hit those volumes without sufficient capital.

 

[cowftw123]

Gold on the daily chart is very obvious downtrend. By longing Gold, you are trading against the trend which is VERY DANGEROUS.

Keep it really tight and quick, Gold has always been very 'trend following'.

And perhaps Oanda recent Gold trading promo encourages more ppl to trade Gold/Silver, I hope you are not gaming too much for the gold bar. It's tough to hit those volumes without sufficient capital.

yea, it was a emotional trade. Already cut my losses at 1224.

Thanks bro!

 

[Mr.Canberra]

If have USD cash to burn (pun intended) you may be able to jiak hong in space in the coming future.

 

[revhappy]

Yuan fell again.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[Mr.Canberra]

CNY

Yuan fell again.

Yes the depreciation continues. More so for USD than SGD.

Hope my August batch of conversion from CNY to SGD will have favourable rates than now.

 

[Mr. Wood]

prata jin ho jiak



4:30pm GBP Retail Sales m/m

8:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claims

9:00pm USD FOMC Member Quarles Speaks

 

[Mr.Canberra]

EUR

EUR dipping!

 

[revhappy]

USDSGD hit 1.37, unbelievable

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[Mr.Canberra]

USD/SGD

USDSGD hit 1.37, unbelievable

Not surprising as last year USD/SGD highest 1.4X.

You cannot bet against the USD this year until all 4 Fed rate hikes are done for 2018. Then USD strength will pause and subside. Hedge funds and investors are piling into USD cash because it has been 10 years that cash actually generates risk free 2% returns!

 

[rider83]

suddenly USD gain strength this afternoon

 

[Mr.Canberra]

USD

suddenly USD gain strength this afternoon

I am not surprise actually.

US Dollar Index's 52 week range 88.15 - 95.25. Today's intraday high 95.21. I believe will break out. The momentum lai liao just like when it lao sai during Q1 2018.

Near term wise the top side more or less has arrived. Those looking for tactical play can short USD for corrections at the end of the month. Fast in fast out because USD is still bullish near and mid term.

If you have the following assets you are well hedged. Ai zai. These 3 stooges will take turns to devalue their currencies.

EUR
JPY
USD

 

[rider83]

I am not surprise actually.

US Dollar Index's 52 week range 88.15 - 95.25. Today's intraday high 95.21. I believe will break out. The momentum lai liao just like when it lao sai during Q1 2018.

Near term wise the top side more or less has arrived. Those looking for tactical play can short USD for corrections at the end of the month. Fast in fast out because USD is still bullish near and mid term.

If you have the following assets you are well hedged. Ai zai. These 3 stooges will take turns to devalue their currencies.

EUR
JPY
USD

Huh.... if i take opposite direction how leh?

 

[awful999]

I am not surprise actually.

US Dollar Index's 52 week range 88.15 - 95.25. Today's intraday high 95.21. I believe will break out. The momentum lai liao just like when it lao sai during Q1 2018.

Near term wise the top side more or less has arrived. Those looking for tactical play can short USD for corrections at the end of the month. Fast in fast out because USD is still bullish near and mid term.

If you have the following assets you are well hedged. Ai zai. These 3 stooges will take turns to devalue their currencies.

EUR
JPY
USD

NZDUSD down down down

 

[Jedihan]

Sorry to say this but precious metals/commodities are bearish bias near term.

I see gold heading to 1200 (physcological level) which is very strong support level here. Unless USD is super bullish then can break below 1200.

USD/JPY breaking above 113.0 and USD Dollar Index back to 95.0 is a clear sign of USD bullishness.

2 more Fed rate hikes for the rest of 2018 is a 90% done deal and priced in now.

By end Dec 2018 the Fed Funds target rate will be 2.5%. I wonder the mortgage loan defaults will explode even more loudly?

I suggest not to take on new positions now because the prataing by big boys should be coming soon to take out all the stops. My guess is after Uncle Powell's second day of testimony today. And by end Friday we should know what is the trend for next week.

I am sitting on a 16K loss on gold. 500 Oz. ENtered 1257, 1253, 1250, 1241, 1223.

 

[Mr.Canberra]

USD

Once again the market is rigged so depending on your risk appetite the time to test your conviction is here again as USD is on steroids, just like USD lao sai during Q1 2018.

Huh.... if i take opposite direction how leh?

It is King Dollar now. Do not go against the trend unless your positions are already stucked from few months ago and holding it out like me.

Unless you play NO STOP LOSS with ample margin if not the USD short position stops will get taken out until the big boys U-Turn. Earliest end Q3 2018. Latest beginning Jan 2019.

NZDUSD down down down

Yeah AUD and NZD getting hammered.

I am sitting on a 16K loss on gold. 500 Oz. Entered 1257, 1253, 1250, 1241, 1223.

Wow how many lots in total? 5 lots?

My call is coming true. Heading towards 1200. I believe lots of panic long covering going on now.

No point averaging down because your margin will be under stress. Either you cut loss or NO STOP LOSS and top up with ample margin (if low) to withstand the fall. Take note long gold need to pay swap.

I do not touch precious metals because NO STOP LOSS strategy cannot be applied to it as it does not have the PPP factor between currencies. It can go at one direction for a long period of time.