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Author Topic: TA Forex Trading  (Read 16097 times)

Pennies2007

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Re: TA Forex Trading
« Reply #1005 on: March 13, 2017, 04:52:10 am »
Make that 2 Acad flipper positions. TP set for 1.0120 on both flippers. Still holding one other position long term for .93.

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ForexTrader

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Re: TA Forex Trading
« Reply #1006 on: March 13, 2017, 09:03:31 am »
Make that 2 Acad flipper positions. TP set for 1.0120 on both flippers. Still holding one other position long term for .93.

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We are seeing different things. I'm long from 1.0178

Pennies2007

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Re: TA Forex Trading
« Reply #1007 on: March 13, 2017, 09:05:41 am »
Could be Forex Trader. Theres definitely wiggle room either way. But I'm sticking with the long term charts on this one even if it does pop a bit more.

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quanticopious15

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Re: TA Forex Trading
« Reply #1008 on: March 13, 2017, 09:45:22 am »
kermit.........I can't tell you how to set your risk percentage order entry settings in other forex platforms but I can tell you that in the Oanda platform, I go to the toolbar in my account page and go: "Tools/User Preferences/Trading tab and then in the "Default Order Size window, I type in "2" in that window for %Leveraged NAV.    At least I believe that was what I did to make an auto 2% risk size trade come up in a window to allow me to click on the order as is or round it off, or double the number of units to double down when I do or enter how ever many units I want, but it allows me to start with 2% risk on the initial trade at least.     That 2% won't give me the 3% gains each week I am looking for but for the initial position entry it will allow me to be on the wrong side of the trade for a couple thousand pips I think before I can be margined out, then I add to my position by doubling down every logical point 100 to 200 pips against me and that allows me all that wiggle room that pennies refers to so I can cost average a much better entry before the price action turns my way.   

I hate taking losses of any kind so I love and sometimes go with a stop loss placed in some window of profit above my entry once I've become profitable.   

kermit42

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Re: TA Forex Trading
« Reply #1009 on: March 13, 2017, 12:23:22 pm »
Pennies, you've been looking for a long entry on GU for a while. Adam Button at Forexlive has an essay on how to play the Article 50 trigger expected next week--he's thinking short squeeze.

http://news.forexlive.com/!/the-bad-news-is-already-priced-into-gbp-20170313

Pennies2007

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Re: TA Forex Trading
« Reply #1010 on: March 13, 2017, 12:27:19 pm »
Very possible Kermit. I haven't seen a long trigger on GU yet but it could be pending soon.

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Pennies2007

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Re: TA Forex Trading
« Reply #1011 on: March 13, 2017, 04:34:36 pm »
Closed the flippers for about 22 pips profit. No volume so it could be a corrective move or the market is simply going to stall before the Fed wednesday. Eithet way its best to take da money and run and see what develops next. With my luck, acad will tank now...lol! Still have my long term short in play.

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ForexTrader

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Re: TA Forex Trading
« Reply #1012 on: March 13, 2017, 05:41:02 pm »
Closed the flippers for about 22 pips profit. No volume so it could be a corrective move or the market is simply going to stall before the Fed wednesday. Eithet way its best to take da money and run and see what develops next. With my luck, acad will tank now...lol! Still have my long term short in play.

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yes, very indecisive and stagnant.  got stopped out twice trying to short nzdjpy. 

Pennies2007

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Re: TA Forex Trading
« Reply #1013 on: March 13, 2017, 05:56:32 pm »
I've been watching NJ myself. It appears to be in a TDI wave 3 sell off. The best short opp will come when it retraces back near the highs in a TDI wave 4 movement. I'm just waiting on the pop to nail it.

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ForexTrader

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Re: TA Forex Trading
« Reply #1014 on: March 13, 2017, 06:10:20 pm »
Societe Generale FX Strategy still likes longs in AUD/JPY and USD/JPY.

"The combination of oil prices falling and industrial metals bouncing will help AUD, against the yen and against the New Zealand dollar and Canadian dollar for that matter. A slow grind higher in US real yields is consistent with a slow grind higher in USD/JPY," SocGen argues.

In Europe, SocGen remains bearish GBP in particular.

"EUR/GBP can move higher as French opinion polls settle down with Le Pen and Macron at 26% and Fillon stabilising at 20%," SocGen adds,

Pennies2007

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Re: TA Forex Trading
« Reply #1015 on: March 13, 2017, 06:19:56 pm »
Opened a 2nd long term short on Acad at 1.0180. Let it do its worst...lol!

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Pennies2007

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Re: TA Forex Trading
« Reply #1016 on: March 13, 2017, 06:36:48 pm »
Societe Generale FX Strategy still likes longs in AUD/JPY and USD/JPY.

"The combination of oil prices falling and industrial metals bouncing will help AUD, against the yen and against the New Zealand dollar and Canadian dollar for that matter. A slow grind higher in US real yields is consistent with a slow grind higher in USD/JPY," SocGen argues.

In Europe, SocGen remains bearish GBP in particular.

"EUR/GBP can move higher as French opinion polls settle down with Le Pen and Macron at 26% and Fillon stabilising at 20%," SocGen adds,

If there's one thing I've learned in my years of trading Forex Trader, it's that analysts have one fundamental problem...fundamentals...LOL! They have very little in the way of technical analysis in their calls and they look primarily at fundamentals to base their analysis. I can tell you this much...when oil does explode to the topside and their analysis goes out the window, fundamentals will have little if anything to do with the move. When that move happens, UCAD will drop like a rock and take ACAD down with it, especially with the combination of AU having moved into bear territory along with UCAD. That combination is deadly from a TA standpoint.

Of course, I've been wrong before...LOL! But between fundamentals and TA, I'll take TA any day.   ;D

Pennies2007

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Re: TA Forex Trading
« Reply #1017 on: March 13, 2017, 06:40:43 pm »
ACAD Weekly Chart

No change. The only thing that could change is if ACAD makes a slight new high. That would only alter the FE 61.8 and the FE 100 targets slightly. But right now, the first target is still 0.9616 followed by the likely target of 0.9223.

Keep in mind this is a weekly chart. It can grind around for several weeks before it makes its move. Patience is required.




ForexTrader

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Re: TA Forex Trading
« Reply #1018 on: March 13, 2017, 06:42:18 pm »
Yeah, i'm TA first 100% but its always nice if/when fundamentals line up with a TA thesis.  And I take these fundamental ideas with a grain of salt.  i just enjoy reading them. 
« Last Edit: March 13, 2017, 06:43:53 pm by ForexTrader »

Pennies2007

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Re: TA Forex Trading
« Reply #1019 on: March 13, 2017, 06:43:59 pm »
UCAD Weekly Chart

The shallow retrace suggests that the next sell off will be pretty severe. First target is 1.2220, which is why I have my initial TP set to 1.2250. Again, this is a weekly chart and it can take time to get moving so patience is a must.


 

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