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March/April FOREX

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Posted: #1
events considered high importance this week.  all from dailyfx:
 
monday:
23:30 GMT - JPY household spending
 
tuesday:
6:00 GMT - CHF UBS consumption indicator
14:00 GMT - USD consumer confidence
23:50 GMT - JPY Tankan Large Manufacturers and non-manufacturing index/outlook.  Large all industries capex
 
wednesday:
0:30 GMT - AUD retail sales
14:00 GMT - USD ISM manufacturing, prices paid
 
thursday:
0:30 GMT - AUD trade balance
2:00 GMT - NZD commondity price
11:45 GMT - EUR central bank rate decision
 
friday:
7:45 GMT - CHF consmer price index
12:30 GMT - USD chnage in non-farm payrolls, unemployment rate, change in manufacturing payrolls, average hourly earnings, weekly earnings,
 
16:00 GMT - Bernanke speaks at Fed-Credit Markets conference
 
Covers Linesmen
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Posted: #2
I think we need to make note of the currencies which are moving higher and figure out WHY and those which are going lower and figure out why.

Ive found that if you can find a group of pairs that have an anchor currency and trade inside those it can multiply profits IF the anchor currency is just near a top or bottom of its trading range.

Staying away from the crowd pairs has also worked for me, I dont go near the 1-2 pip spread pairs since that is what 90% of people trade, I want no part of that.

I think Ive decided to deposit with FXDD, I considered FXCM but the difference in spread isnt THAT much and Ive seen many complaints about outages and slippage and issues. I think FXDD is a larger and more stable company and platform. I really liked the micro FXCM angle, those spreads are awesome but there is no support for problems outside of email and it is another case of not wanting to go where the crowd is.

I also like the fast bankwire option that FXDD has and with no cost it sealed the deal..now if anyone has a huge reason to consider another firm let me know..I do think that the news feature with FXDD is semi lacking, which I think Forex.com was very good at if I recall from their platform..
 
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Posted: #3
And they are off and running.

So far I dont see any explosions or implosions..
 
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Posted: #4
good stuff wall... i have no reason to consider any other firm... FXDD seems fine.  Forex does have the news updates which is nice, but other than that no real reason not to go with FXDD if you like it.
 
i agree about figuring out which currency is strong or weak at the time.  i just came across this site: www.fx360.com which gives some good analysis of various currencies (for examples they explain why USD went on a tear end of last week and how it looks for this week)
 
not sure what you mean in the second paragraph... do you mean if say a bunch of XXX/USD pairs are all at the top of their respective ranges, you like to short them all?
 
not much i see right now that i like.  sundays usually start off fairly slow!
 
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Posted: #5
anyone think we could se eur/usd
sub  1.3000?????
 
Covers Linesmen
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Posted: #6
pop,

The EU pairs are moving, I am out of my EU.AUD 2 sets at my price point for the 120 pips I wanted..but it is strange, my faux balance is lower than I thought..something isnt right.

Time to stop playing and start going for real dough..
 
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Posted: #7
I change my comment..the EU and LB pairs are DOWN today..most are getting near lower RSI levels and are now becoming interesting..but the charts are trending down so it isnt as dramatic and I will be more patient entering a trade even though the RSI is low.

It is tempting to start a position in nearly every single LB pair though..
 
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Posted: #8
see what you mean with gbp/jpy and gbp/usd.  rsi and dmi+ really low on both those
 
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Posted: #9
rick, i think we could definitely, not sure what timeframe though.  really having a tough time getting a hold on longterm direction of it right now
 
Covers Linesmen
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Posted: #10
Id like the LB.Yen down to 137 for an entry..check that chart..last bottom put in more than 100 pips from here, I will keep my eye on it.
 
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Posted: #11
been watching that one also... stochastics looking to turn up and cci way oversold also
 
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Posted: #12
looks like we would have been in pretty good shape with that GBP/JPY, wall.   did you get in that?  i went to bed, and didnt pu tin a pending order.  it went down a bit more down to the 135's but now back up around 138
 
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Posted: #13
pop,

I didnt get that, but I did get LB.USD at 1.4140 last night too.

I only went one lot so I am only up 60 or so now..
 
Covers Linesmen
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Posted: #14
Threw a line out on Eu.US at 1.3115
 
Covers Linesmen
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Posted: #15
Another note..

If the US.CD hits 1.27 I will open a short position.
 
Covers Linesmen
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Posted: #16
Out of Lb.usd at 1.4215 for 75 pips.

Not glamorous but not bad for less than a day.
 
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Posted: #17
not bad at all...
 
eur/usd trading withing nice bearish channel right now.  it is currently at the top and i am going to short it, with a tight SL.  if or when it comes back down i will try to go long again which is about your entry point at 1.3115
 
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Posted: #18
limit hit on that EUR short...35 pips X 2 ltos for 70 pips.  i wanted to trail the stop with 20pips on that but it shot down and took out my limit.  i set them pretty modest when not at home since i dont have easy access to mess around and no point and click ability from remote access
 
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Posted: #19
if it continues to move within this channel, 1.30 looks not too far off
 
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Posted: #20
if it can break the 1.3120 level.... it has tried 3 times already on the hourly charts
 
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Posted: #21
I have a long order in on the EU.US at 1.3115

This 4 hr RSI at 26 is enough for me to think it has value to go long.

Its kinda freaky thinking long these charts but when it looks the worst is when they start to reverse them.
 
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Posted: #22
just shorted EUR/USD from 1.3315 to 1.3270 for 90 pips total.  looks like its trying to break upwards trendline on the hourly.  contemplating going short again
 
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Posted: #23
think it will drop some more but im gonna stay out for now and be happy with my 90
 
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Posted: #24
Nice job pop..90 pips to start the week is awesome!

I had a line in the water on Eu.AUD at 1.9145 and it hit and dropped more, so i added one at 1.9055.
 
 
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Posted: #25

90 plus 70 from yesterday... my goal right now is to try and average at least 50 pips per day

 

that eur/aud looks like its about to lose steam and seems to me like it should turn up.  rsi and cci show oversold for a while now

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