Forex intraday T/A
- Thread starter caribean
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Correlation is not looking so good...especially the JPY ...have to be cautious,
also the EUR seems to be finding support at the junction of the T/L with the 38.2% retracement...
depending on how this hourly candle ends, it may be a reversal to the long side...
There's very nice support at around 1.3418 going back a long way.. so it will be interesting.
also the EUR seems to be finding support at the junction of the T/L with the 38.2% retracement...
depending on how this hourly candle ends, it may be a reversal to the long side...
There's very nice support at around 1.3418 going back a long way.. so it will be interesting.
heh heh - yep it happens to me on SPI thread & the international index thread sometimes. never mind, no arguments that way!!
am keeping an eye on what you are up to Caribean, but a bit busy to participate during the day at the moment unfortunately
I'm not entirely sure but you just have to look at a chart of XAO over the last 5 years to see that Aus has been relentlessly rising. Most of the action here seems to be around resources - & banks - fair enough too, in hindsight the buy-n-hold-n-add strategy would've worked out very well thank you very much!
Absolutely...you get no argument from me, if you got reasonable funds it's been easy money....though the "easy" bit may come to an end.
I've got a friend who has done very well out of some junior mining stocks, and i do buy the occasional put or call, as for the XJO or the XAO i do daily T/A on them for my option trading.
But even though this is primarily a stock forum there's got to be forex traders
around here somewhere, you do see a lot of Aussies in US forums so why not
here..maybe we'll have to throw a few pips on the ground and they'll fly in from all over the place...even if we do get a few droppings on our head...
Anyway that's my lot for tonight = -7points, goodnight and good luck.
I've got a friend who has done very well out of some junior mining stocks, and i do buy the occasional put or call, as for the XJO or the XAO i do daily T/A on them for my option trading.
But even though this is primarily a stock forum there's got to be forex traders
around here somewhere, you do see a lot of Aussies in US forums so why not
here..maybe we'll have to throw a few pips on the ground and they'll fly in from all over the place...even if we do get a few droppings on our head...
Anyway that's my lot for tonight = -7points, goodnight and good luck.
>Apocalypto<
20.03.2012
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- 2 February 2007
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I feel u man I got sick of talking to myself as well in trading the xjo with CFD's
I am a very keen, but slow paced FX trader I trade the Aussie on daily not the intraday.
Problem is caribean most fellas in here like what edwood said stock buy and holders.
I have made a couple of EURo GBP CHF / us$ trades but i mainly follow the indexes, oil gold and couple asx shares.
I would like to trade fx on 5-30 min but no time, keep it up I am following.
Do u use much fundamental analysis in your trading Caribean?
>Apocalypto<
20.03.2012
- Joined
- 2 February 2007
- Posts
- 2,233
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- 2
Absolutely...you get no argument from me, if you got reasonable funds it's been easy money....though the "easy" bit may come to an end.
I've got a friend who has done very well out of some junior mining stocks, and i do buy the occasional put or call, as for the XJO or the XAO i do daily T/A on them for my option trading.
But even though this is primarily a stock forum there's got to be forex traders
around here somewhere, you do see a lot of Aussies in US forums so why not
here..maybe we'll have to throw a few pips on the ground and they'll fly in from all over the place...even if we do get a few droppings on our head...
Anyway that's my lot for tonight = -7points, goodnight and good luck.
Are you trading options over the xjo?
Hi Tradeit, i'm not a big time options trader, a just buy a bit here and there....
i did all right when gold was skyrocketing with LHG.
My XJO analysis is a work in progress as my funds are limited i'm restricted to forex and the few options,
Fundamentals are of course important..everything is IMHO, but i do stay out of the market when announcements come out.
i did all right when gold was skyrocketing with LHG.
My XJO analysis is a work in progress as my funds are limited i'm restricted to forex and the few options,
Fundamentals are of course important..everything is IMHO, but i do stay out of the market when announcements come out.
That EUR short would have been a good one....you could have the best T/A
skills but if your psychology is wrong you will not make money...lol
it was just too choppy for my liking...trading intra day like i do requires a lot of concentration and i'm sometimes distracted by my own family,i wouldn't have ended in minus points if i wasn't...however distractions by your family should always be welcomed, especially if you got young children.....
Back on the options, they are a beautifull instrument to use, aren't they?
i've read some of WayneL 's comments about options...impresive.
skills but if your psychology is wrong you will not make money...lol
it was just too choppy for my liking...trading intra day like i do requires a lot of concentration and i'm sometimes distracted by my own family,i wouldn't have ended in minus points if i wasn't...however distractions by your family should always be welcomed, especially if you got young children.....
Back on the options, they are a beautifull instrument to use, aren't they?
i've read some of WayneL 's comments about options...impresive.
Hi everyone. Just wanted to introduce myself to your forum. I’ve been an ASF member a while now and occasionally contribute to discussions on ASX stocks. I’m a long-term investor – I would classify myself as risk tolerant. I am a f-t student of economics which can be a huge bonus but can impair my judgement as well. So I enjoy F/A on my long-term holdings and get a kick out of reading the company’s accounts.
When I decided to trade FX during my winter break I decided to abandon everything I know about exchange rates from uni (because half of it doesn’t hold empirically anyway, and I know it is unwise to try and be ‘smarter’ than the market). So I’ve been getting interested in T/A – and have started off just looking at basic support/resistance and some simple patterns.
Today I had my first trade. Yesterday I had trouble pulling the trigger and I think it’s because I was looking at AUD/USD. I have too many predisposed (F/A) notions about where the AUD/USD should be trading and couldn’t make a clear interpretation of the chart. I’m looking at doing intra-day and grabbing small moves. (High volume, low risk, low return trades). Plus I have a bias with the AUD/USD – a lot of my long-term holdings have a lot of US earnings so a higher Aussie hurts my portfolio. On the other hand, a high Aussie is doing a remarkable job at keeping the CPI low (has anyone looked at the breakdown of the CPI? – imported goods are the main cause of our current lack of inflation) and keeping interest rates from rising. So I don’t think I can objectively look at the pair; had a look at the EUR/USD chart this morning and saw a shorting opportunity.
I was so surprised at the ease I had in shorting – since a lot of long-term investor such as myself seem to have a predisposition to long trades and find short trades even just a little discomforting. And no qualms pulling the trigger for the first time either. Here is what I saw:
-sustained downward trend from 13:57 GMT 20/June
-the chart showed support around 13396 (from 21:06 and 21:39 GMT 20 June)
-Hence I saw a triangle forming that suggested a down-ward breakout, plus I knew the overall trend for the last 24 hours was down.
-I entered at 13395 short.
-Watched an up-ward breakout from a minor down-trend but it failed to push upwards a lot and didn’t reach GSL which was 10 pips from open.
-Around 01:26 GMT (21 June) it broke the blue support line where I entered and quickly reached my target: 13385 which was an old support from 10:28 GMT (19/June): so I just targeted 10 pips and achieved the target and closed.
So I’m really happy with my first trade. I was open for about 2 hours and glued to the screen the whole time! It was such a fun experience (of course it is when you make a profit). I was scared to leave to computer though … one of the pitfalls of a 1 minute chart. I think trading during the UK/US night-time reduced the volatility because there was no major news and the currencies were drifting/trending nicely.
I’m interested in hearing about others trades too and I’m pleased to meet you all. Ps – I am open to discussion on AUD/USD lol. Is this forum all pairs?
Pps - I hope you can see the graph! It is from IG who is my provider - there is a 2 pip spread on the majors and a 3 pip GSL. I think that's pretty good - I want to see if I can make pips (gross) first, then increase position size and determine if other providers are better. Who do you guys use?
When I decided to trade FX during my winter break I decided to abandon everything I know about exchange rates from uni (because half of it doesn’t hold empirically anyway, and I know it is unwise to try and be ‘smarter’ than the market). So I’ve been getting interested in T/A – and have started off just looking at basic support/resistance and some simple patterns.
Today I had my first trade. Yesterday I had trouble pulling the trigger and I think it’s because I was looking at AUD/USD. I have too many predisposed (F/A) notions about where the AUD/USD should be trading and couldn’t make a clear interpretation of the chart. I’m looking at doing intra-day and grabbing small moves. (High volume, low risk, low return trades). Plus I have a bias with the AUD/USD – a lot of my long-term holdings have a lot of US earnings so a higher Aussie hurts my portfolio. On the other hand, a high Aussie is doing a remarkable job at keeping the CPI low (has anyone looked at the breakdown of the CPI? – imported goods are the main cause of our current lack of inflation) and keeping interest rates from rising. So I don’t think I can objectively look at the pair; had a look at the EUR/USD chart this morning and saw a shorting opportunity.
I was so surprised at the ease I had in shorting – since a lot of long-term investor such as myself seem to have a predisposition to long trades and find short trades even just a little discomforting. And no qualms pulling the trigger for the first time either. Here is what I saw:
-sustained downward trend from 13:57 GMT 20/June
-the chart showed support around 13396 (from 21:06 and 21:39 GMT 20 June)
-Hence I saw a triangle forming that suggested a down-ward breakout, plus I knew the overall trend for the last 24 hours was down.
-I entered at 13395 short.
-Watched an up-ward breakout from a minor down-trend but it failed to push upwards a lot and didn’t reach GSL which was 10 pips from open.
-Around 01:26 GMT (21 June) it broke the blue support line where I entered and quickly reached my target: 13385 which was an old support from 10:28 GMT (19/June): so I just targeted 10 pips and achieved the target and closed.
So I’m really happy with my first trade. I was open for about 2 hours and glued to the screen the whole time! It was such a fun experience (of course it is when you make a profit). I was scared to leave to computer though … one of the pitfalls of a 1 minute chart. I think trading during the UK/US night-time reduced the volatility because there was no major news and the currencies were drifting/trending nicely.
I’m interested in hearing about others trades too and I’m pleased to meet you all. Ps – I am open to discussion on AUD/USD lol. Is this forum all pairs?
Pps - I hope you can see the graph! It is from IG who is my provider - there is a 2 pip spread on the majors and a 3 pip GSL. I think that's pretty good - I want to see if I can make pips (gross) first, then increase position size and determine if other providers are better. Who do you guys use?
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Hi Brendan87,welcome!
As a student of economics i think there's a lot you can tell us about the fundamental side of things...
Congratulations on your first trade, well done!
You will find T/A if applied correctly is the best way to trade intra day IMO.
For tonight, i'm waiting for an opportunity to short either EUR/USD or AUD/USD or both...on the long side the JPY/USD has allready given the long signal, early in the morning and is out of my range unless it retraces a bit, which doesn't look very likely at the moment.
Getting ready to short AUD at the completion of the current candle as i've got a signal on the 30 min chart.
.......signal not quite right for now, will wait....
As a student of economics i think there's a lot you can tell us about the fundamental side of things...
Congratulations on your first trade, well done!
You will find T/A if applied correctly is the best way to trade intra day IMO.
For tonight, i'm waiting for an opportunity to short either EUR/USD or AUD/USD or both...on the long side the JPY/USD has allready given the long signal, early in the morning and is out of my range unless it retraces a bit, which doesn't look very likely at the moment.
Getting ready to short AUD at the completion of the current candle as i've got a signal on the 30 min chart.
.......signal not quite right for now, will wait....
Both the EUR and AUD failed to follow up, the JPY did retrace and now is against the major resistance of 123.70, i'm looking at a longer term trade on this one with a convincing break of the resistance but i may enter now without confirmation on a tighter S/L....
The GBP also gave me a long signal last night, mid european session, but the US session failed to deliver (with the exemption of a scalp), i'm scratching my head as to why things are so quiet,is it lack of news releases, or am i missing something?
The AUD short ended up being a flop, i watched my profit come back to break even and then exit....there was a long signal at the end of the US session yesterday which i dismissed in favor of the short reaction to the back of the T/L ....the Aussie looks strong again.
I may be confusing at times, but if you are a relatively short term trader you will have to trade what you see ,not what you think will happen the day before...
The GBP also gave me a long signal last night, mid european session, but the US session failed to deliver (with the exemption of a scalp), i'm scratching my head as to why things are so quiet,is it lack of news releases, or am i missing something?
The AUD short ended up being a flop, i watched my profit come back to break even and then exit....there was a long signal at the end of the US session yesterday which i dismissed in favor of the short reaction to the back of the T/L ....the Aussie looks strong again.
I may be confusing at times, but if you are a relatively short term trader you will have to trade what you see ,not what you think will happen the day before...
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