I have two Eu.AU long, not looking too bad averaged at 1.4812 so about 25 pips out..not bad.
I had no idea until the other day that the CD is near par again..that is just crazy. They were mentioning in news that if the Fed raised the discount rate again it might really start a ramp on the USD, which makes perfect sense.
When the FED starts raising rates the USD will hit 100 plus Yen, probably back to par vs the EU, 1.30s or lower for the LB, the AUD will go back to the high .70 area..it will be a huge opportunity.
0
buck,
What do you have in total positions?
I have two Eu.AU long, not looking too bad averaged at 1.4812 so about 25 pips out..not bad.
I had no idea until the other day that the CD is near par again..that is just crazy. They were mentioning in news that if the Fed raised the discount rate again it might really start a ramp on the USD, which makes perfect sense.
When the FED starts raising rates the USD will hit 100 plus Yen, probably back to par vs the EU, 1.30s or lower for the LB, the AUD will go back to the high .70 area..it will be a huge opportunity.
yes indeed was hoping for something this week even if it was just a change in language but got shit...
i got 4 EU and 2 AU...dollar index looks good so id say my EU trade is looking bleak again...may be something i just end up letting go and loading up on shrts if things get worse....i would like to load up on AU and JPY b4 a hike cause that will be easy $$$$$$$$....
0
yes indeed was hoping for something this week even if it was just a change in language but got shit...
i got 4 EU and 2 AU...dollar index looks good so id say my EU trade is looking bleak again...may be something i just end up letting go and loading up on shrts if things get worse....i would like to load up on AU and JPY b4 a hike cause that will be easy $$$$$$$$....
I have to sort of agree with you, which means the tide will turn and the EU will sky rocket.
It looks tired..it sells of easily, takes forever to bounce..lots of negative scenarios facing the EU and the LB..especially how historically we lead the way in and out of cycles..so the EU is probably in a worse spot and will take longer to break free from the mess.
Ive been in some bleak positions though and never got caught with my pants down as long as I had that powder to move around..
0
buck,
I have to sort of agree with you, which means the tide will turn and the EU will sky rocket.
It looks tired..it sells of easily, takes forever to bounce..lots of negative scenarios facing the EU and the LB..especially how historically we lead the way in and out of cycles..so the EU is probably in a worse spot and will take longer to break free from the mess.
Ive been in some bleak positions though and never got caught with my pants down as long as I had that powder to move around..
I'm a newbie, I have been watching from afar your trades/activities in order to gain some insight on the Forex arena and I thank you for what you have offered to the forum!
I have a question for you please regarding what appears to me to be a "predictable" pairing.
The play:
I am thinking I would like to consider playing the USD/JPY pair on a "conservative" level--meaning to buy the pair and be willing to hold it as long as necessary. Would it be too risky to BUY the pair when the following criteria at met: a.) Relative Strength falls to 30 or below b.) Stochastics falls to the area of 20 and c.) when the price crosses the bottom Bollinger band. I would then sell when the opposite comes through: a.) RSI hits 70+ b.) Stochastics hits 80 and c.) price crosses the top Bollinger band.
The specific question would be the following: knowing the strategy above, would it be too risky to have stop/limits in place knowing we are in for the long run and that would just interfere with our opportunity to get to the final destination?
Any insight you have to offer would be greatly appreciated!
0
Gentlemen,
Wall, Buck, Rick...
I'm a newbie, I have been watching from afar your trades/activities in order to gain some insight on the Forex arena and I thank you for what you have offered to the forum!
I have a question for you please regarding what appears to me to be a "predictable" pairing.
The play:
I am thinking I would like to consider playing the USD/JPY pair on a "conservative" level--meaning to buy the pair and be willing to hold it as long as necessary. Would it be too risky to BUY the pair when the following criteria at met: a.) Relative Strength falls to 30 or below b.) Stochastics falls to the area of 20 and c.) when the price crosses the bottom Bollinger band. I would then sell when the opposite comes through: a.) RSI hits 70+ b.) Stochastics hits 80 and c.) price crosses the top Bollinger band.
The specific question would be the following: knowing the strategy above, would it be too risky to have stop/limits in place knowing we are in for the long run and that would just interfere with our opportunity to get to the final destination?
Any insight you have to offer would be greatly appreciated!
Coondog, what time frame on a chart are you considering doing this?
What you might want to do is study charts to see how often these technical indicators fail or continue at high or low levels before reversing?
Ive seen pairs and stocks trade at high stoch levels for weeks/months and the levels only go so high and then stop being of much use, all the while the price of the instrument continues to go up (or down) and the technical indicator does not properly reflect such.
On the subject of stops, they can be an account killer..its a tough concept but the way the Forex market swings, it knocks out stops on both sides and the initial reason for entering a trade could be correct, but you get stopped out before realizing the potential gain.
0
SS Lb.Yen at 136.25
Looking for 50
Coondog, what time frame on a chart are you considering doing this?
What you might want to do is study charts to see how often these technical indicators fail or continue at high or low levels before reversing?
Ive seen pairs and stocks trade at high stoch levels for weeks/months and the levels only go so high and then stop being of much use, all the while the price of the instrument continues to go up (or down) and the technical indicator does not properly reflect such.
On the subject of stops, they can be an account killer..its a tough concept but the way the Forex market swings, it knocks out stops on both sides and the initial reason for entering a trade could be correct, but you get stopped out before realizing the potential gain.
Yeah I would go off 4 hour or 1 day chart time frames.
Trace back on the US.Yen chart and see how long the pair traded at extreme RSI and Stoch levels and what that meant on a pips basis..so when it first traded at a high or low stoch level and when it finally reversed direct, and how much higher or lower the pair went before it moved in your favor.
0
Yeah I would go off 4 hour or 1 day chart time frames.
Trace back on the US.Yen chart and see how long the pair traded at extreme RSI and Stoch levels and what that meant on a pips basis..so when it first traded at a high or low stoch level and when it finally reversed direct, and how much higher or lower the pair went before it moved in your favor.
The USD/JPY pairing volatility seems to meet the criteria in a range from as little as 1-2 weeks to 2 months, that is acceptable to me....I just wonder what the probability of bumps in the road a.k.a. stopped out prevent this from even being a possibility.
0
The USD/JPY pairing volatility seems to meet the criteria in a range from as little as 1-2 weeks to 2 months, that is acceptable to me....I just wonder what the probability of bumps in the road a.k.a. stopped out prevent this from even being a possibility.
I mean how it performs once it meets your parameters..so say it trades at a 20 RSI, try and track the point when it first entered that level and how far down it went until it reversed..
I think your stops if you are going to use them need to be very wide and your liquidity deep.
It would be a good idea to get a practice account for a while and test the theory to see how it works out..
0
I mean how it performs once it meets your parameters..so say it trades at a 20 RSI, try and track the point when it first entered that level and how far down it went until it reversed..
I think your stops if you are going to use them need to be very wide and your liquidity deep.
It would be a good idea to get a practice account for a while and test the theory to see how it works out..
This pair hits the bottom and springs back rather quickly and reverses direction within 1-2 days (offering what I think would be a considerable amount of buying opportunity) and the momentum pushes it up to the selling goal criteria (with another considerable time frame for selling opportunity) without much hesitation. And the opposite holds true too, once it is "oversold/overpriced". I have seen what you are referring to in other pairs, just sitting in a holding pattern at a high or a low for quite an extended time period, or even worse: RSI and Stochs hit lows but the pricing of the pair falls even deeper; but the USD/JPY would be my specific concentration for the very reason that it seems to avoid performing this type of indifference. Once the criteria are met, the pair price reacts in our favor. At least this is my neophyte comprehension of what is taking place.
What do you consider "very wide" stops and just how deep do my pockets need to be to go this route???
I definitely will be starting with a practice then a mini-account, would the FXCM be a good place to practice the theory or do you think there is a better platform?
0
This pair hits the bottom and springs back rather quickly and reverses direction within 1-2 days (offering what I think would be a considerable amount of buying opportunity) and the momentum pushes it up to the selling goal criteria (with another considerable time frame for selling opportunity) without much hesitation. And the opposite holds true too, once it is "oversold/overpriced". I have seen what you are referring to in other pairs, just sitting in a holding pattern at a high or a low for quite an extended time period, or even worse: RSI and Stochs hit lows but the pricing of the pair falls even deeper; but the USD/JPY would be my specific concentration for the very reason that it seems to avoid performing this type of indifference. Once the criteria are met, the pair price reacts in our favor. At least this is my neophyte comprehension of what is taking place.
What do you consider "very wide" stops and just how deep do my pockets need to be to go this route???
I definitely will be starting with a practice then a mini-account, would the FXCM be a good place to practice the theory or do you think there is a better platform?
If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on
this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide
any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in
your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner
of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.