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Trading Excellence
- Thread starter FXAnalyst
- Start date
Quote from FXAnalyst:
Friday exiting seems to have happened after busy trading earlier.
U/J bouncing of 102.50 area but could a bit drop more today despite significant selloff from peak. A bounce on U/J crosses is worth watching for later today or early next week I think.
If the U/J continues it's descent I have a target of 102.10 and it should bounce up fro that area even if it descends further. I'll need the weekend to find time to re-evaluate the larger picture and study fundamentals for more clarity on what it's most likely to do next week in terms of large swings.
USD/CAD
Got stopped out! Quite a bad trade because i didn't anticipate, or worst was not aware of central bank decision. And right there they cut half a point. Fundamentally i would be much more cautious about this one since it's economy is truly to US downturn.
Eur/Usd
Looking for some kind of a correction as the weekly charts show prices of bollinger bands range. Even though it looks good. We'll have to see what traders make of this delve into uncharted territory.
Got stopped out! Quite a bad trade because i didn't anticipate, or worst was not aware of central bank decision. And right there they cut half a point. Fundamentally i would be much more cautious about this one since it's economy is truly to US downturn.
Eur/Usd
Looking for some kind of a correction as the weekly charts show prices of bollinger bands range. Even though it looks good. We'll have to see what traders make of this delve into uncharted territory.
I see a pattern on AUD/U that leads down after a corrective bounce up from about 9150-60... Selling down from the top of bounce with large trend makes the most sense I believe. top of bounce shouldn't exceed 9225-30 by much and target down is conservatively 100 pips lower.
Pattern seems basically the same on EUR/U and GBP/U and appears as temporarily an Elliot Wave ABC corrective down seen well as it unfolds on 15 minute charts. How long it lasts will likely depend on fundamental sentiment over the next few days and the largescale uptrend is likely to resume later this week.
Pattern seems basically the same on EUR/U and GBP/U and appears as temporarily an Elliot Wave ABC corrective down seen well as it unfolds on 15 minute charts. How long it lasts will likely depend on fundamental sentiment over the next few days and the largescale uptrend is likely to resume later this week.
Quote from Galactisol:
USD/CAD
Got stopped out! Quite a bad trade because i didn't anticipate, or worst was not aware of central bank decision. And right there they cut half a point. Fundamentally i would be much more cautious about this one since it's economy is truly to US downturn.
Eur/Usd
Looking for some kind of a correction as the weekly charts show prices of bollinger bands range. Even though it looks good. We'll have to see what traders make of this delve into uncharted territory.
Note however that Canadian news was somewhat CAD bullish and the Canadian dropped against the USD... In other words the U/CAD went up to perform technicals despite the calendar news, an ABC or 123 up finishing it's climb this morning... I missed an ideal entry overnight between 9850-60 for an upswing after ABC down happened. One has to sleep sometime it seems. I could have used an entry order buy I suppose but prefer to watch for the ideal entry as some pairs are a bit volitile and can hit small stops easily.
Quote from FXAnalyst:
Note however that Canadian news was somewhat CAD bullish and the Canadian dropped against the USD... In other words the U/CAD went up to perform technicals despite the calendar news, an ABC or 123 up finishing it's climb this morning... I missed an ideal entry overnight between 9850-60 for an upswing after ABC down happened. One has to sleep sometime it seems. I could have used an entry order buy I suppose but prefer to watch for the ideal entry as some pairs are a bit volitile and can hit small stops easily.
USD/CAD now apears to be on it's way to complete 12345 up this morning reaching 9978 at this time for possible double top or better... soon to stall at least temporarily.
USD/CAD Appears to be headed down in larger trend and has bounced up to 9885 from recent low of 9836 so selling down from 9900 or slightly below with small stop with target of 9800 provideas a good risk reward ratio.
G/U has dropped from 2.0210 nad could regain hights in short term from 2.0140-45, target a double top at least using small stop.
EUR has risesn as well overnight but appears to be unfinished its upward wavecount at 5460, target 5495.
Once again I missed ideal bouncepoints on these and others so catching them in trend on corrective bounces seems the best bet.
U/J has shown downward direction again after what appears to be a large ABC up from last Fridays low and could retest the low again. an Ideal sell attempt area was the 103.50 mark as the pair showed signs of stalling there and clearly broke out down after that. price is currently 102.50 and immediate bouncepoint is probably 102.25
EUR/USD has just climbed more while typing and going into news time I'm taking some profit at 5480, stops at 0 for the rest.
News doesn't appear heavy this morning so will need to review other markets for sentiment.
G/U has dropped from 2.0210 nad could regain hights in short term from 2.0140-45, target a double top at least using small stop.
EUR has risesn as well overnight but appears to be unfinished its upward wavecount at 5460, target 5495.
Once again I missed ideal bouncepoints on these and others so catching them in trend on corrective bounces seems the best bet.
U/J has shown downward direction again after what appears to be a large ABC up from last Fridays low and could retest the low again. an Ideal sell attempt area was the 103.50 mark as the pair showed signs of stalling there and clearly broke out down after that. price is currently 102.50 and immediate bouncepoint is probably 102.25
EUR/USD has just climbed more while typing and going into news time I'm taking some profit at 5480, stops at 0 for the rest.
News doesn't appear heavy this morning so will need to review other markets for sentiment.
CAD/JPY may be a good buy at just above 103.50 using a small stop. Target 104.50 conservatively.
G/J was a good bet at 206.50 but I see that I just missed that. I lean toward this pair descending more today after bounce even though it appears to have done an ABC down from 208.00 because larger pattern indicates that instead of ABC down it could be 123 of a larger 5 wave set. Either way a buy up will catch either a bounce up or new hights. Keeping ones stops a 0 or positive is key to not missing a good swing. I'll trade this one eithe way today at what i suspect are good bouncepoints, using small stop and taking some off the table after a few pips possible, leaving the rest for large speculative gains.
G/J was a good bet at 206.50 but I see that I just missed that. I lean toward this pair descending more today after bounce even though it appears to have done an ABC down from 208.00 because larger pattern indicates that instead of ABC down it could be 123 of a larger 5 wave set. Either way a buy up will catch either a bounce up or new hights. Keeping ones stops a 0 or positive is key to not missing a good swing. I'll trade this one eithe way today at what i suspect are good bouncepoints, using small stop and taking some off the table after a few pips possible, leaving the rest for large speculative gains.
USD/CAD has broken up with force, and although a sell price will be watched for it has exceeded 9900 just now to hit a bouncepoint but the unfloding pattern shows a bit more appreciateion is likely before larger retracement down.
CAD/JPY has bounced off 103.45-50 up a couple of times, first time good for 25 but at the moment I wouldn't trade until clearer confirmation of direction back up or down. Lack of news may be a culprit for current nontrending pairs during early NY session.
G/J actually is doing o.k. after erratic start up. Target now at 207.25 up from the 206.40-50 area.
CAD/JPY has bounced off 103.45-50 up a couple of times, first time good for 25 but at the moment I wouldn't trade until clearer confirmation of direction back up or down. Lack of news may be a culprit for current nontrending pairs during early NY session.
G/J actually is doing o.k. after erratic start up. Target now at 207.25 up from the 206.40-50 area.
'the bounce down on EUR/U from 5500 worked 1/2 out with stops at 0 for a target of 5410 ATM.
The re-entry on CAD/JPY was a stopout as it dropped due to U/CAD's higher than expected rise.
U/CHF provided a good bounce up this morning twice but I missed it for watching other pairs while multitasking.
The re-entry on CAD/JPY was a stopout as it dropped due to U/CAD's higher than expected rise.
U/CHF provided a good bounce up this morning twice but I missed it for watching other pairs while multitasking.