Chart of the Day - Page 34 - DailyFX Forex Forum

Thomas Long · #**496** (**permalink**) 10-13-2009, 08:30 AM

Quote:

Originally Posted by lissyking

Hey Tom
The GBY/CHF reached my limit. Luckily there wasnt no bank intervention.
Thanks

Kingsley

Very good....I think the main reason is that the EUR/CHF has remained strong. That is the pair that the Swiss National Bank seems to be watching and since that pair has been strong, there has been no reason for them to intervene. Nicely done.

lissyking · #**497** (**permalink**) 10-13-2009, 08:33 AM

Quote:

Originally Posted by Thomas Long

Very good....I think the main reason is that the EUR/CHF has remained strong. That is the pair that the Swiss National Bank seems to be watching and since that pair has been strong, there has been no reason for them to intervene. Nicely done.

I learned from the best!
Thanks to you though!

Kingsley

lissyking · #**498** (**permalink**) 10-14-2009, 06:56 AM

Quote:

Originally Posted by Thomas Long

Very good....I think the main reason is that the EUR/CHF has remained strong. That is the pair that the Swiss National Bank seems to be watching and since that pair has been strong, there has been no reason for them to intervene. Nicely done.

Hey Tom
Seems like usd/jpy is going up north. Any thought on this pair?

Kingsley

Thomas Long · #**499** (**permalink**) 10-14-2009, 08:08 AM

Quote:

Originally Posted by lissyking

Hey Tom
Seems like usd/jpy is going up north. Any thought on this pair?

Kingsley

I think that the patience part trading is not very fun. I like my trades to offer about 60 seconds of not knowing what will happen to be followed by a consistent move in my direction where I profit handsomely. Unfortunately, the market has different ideas. A look at the recent EUR/GBP trade shows that patience does pay though, so I will stick with this sell on the USD/JPY until I am either stopped out or limited out with twice in profit as I was willing to risk. I have the trend on my side and that is a powerful force.

lissyking · #**500** (**permalink**) 10-14-2009, 08:48 AM

Quote:

Originally Posted by Thomas Long

I think that the patience part trading is not very fun. I like my trades to offer about 60 seconds of not knowing what will happen to be followed by a consistent move in my direction where I profit handsomely. Unfortunately, the market has different ideas. A look at the recent EUR/GBP trade shows that patience does pay though, so I will stick with this sell on the USD/JPY until I am either stopped out or limited out with twice in profit as I was willing to risk. I have the trend on my side and that is a powerful force.

Hey Tom
Well said......I am well patient about this trade. It was because a sudden move up forcefully got me alerted but in no way I was going to close my trade. I was just wondering why the sudden move.

In regards to the eur.gbp pair, it seems like we soon get another opportunity to go long in a couple of days. Let's see!

Thanks
Kingsley

Thomas Long · #**501** (**permalink**) 10-14-2009, 09:23 AM

Quote:

Originally Posted by lissyking

Hey Tom
Well said......I am well patient about this trade. It was because a sudden move up forcefully got me alerted but in no way I was going to close my trade. I was just wondering why the sudden move.

In regards to the eur.gbp pair, it seems like we soon get another opportunity to go long in a couple of days. Let's see!

Thanks
Kingsley

The JPY always seems to have a mind of its own and these spikes can be common...and quite annoying too. Also keeping my eye on the EUR/GBP and the GBP/AUD as both trends remain strong.

lissyking · #**502** (**permalink**) 10-15-2009, 08:57 AM

Quote:

Originally Posted by Thomas Long

The JPY always seems to have a mind of its own and these spikes can be common...and quite annoying too. Also keeping my eye on the EUR/GBP and the GBP/AUD as both trends remain strong.

Hi Tom
Well I guess the usd/yen made up its mind to stop me out. If another sell signal occurs on this pair Tom, would you take it? Or you think the usd is getting some strength in its value so therefore the yen will get weaker?

Thanks

Kingsley

Thomas Long · #**503** (**permalink**) 10-15-2009, 09:06 AM

Quote:

Originally Posted by lissyking

Hi Tom
Well I guess the usd/yen made up its mind to stop me out. If another sell signal occurs on this pair Tom, would you take it? Or you think the usd is getting some strength in its value so therefore the yen will get weaker?

Thanks

Kingsley

I too practiced my ability to take a loss...but that is what trading is all about. I am inclined to stay away after a loss as I treat that as a signal that something may have changed. For now, I am following the AUD strength while judging which currency is showing weakness. The AUD remains strong and should for awhile.

lissyking · #**504** (**permalink**) 10-15-2009, 09:10 AM

Quote:

Originally Posted by Thomas Long

I too practiced my ability to take a loss...but that is what trading is all about. I am inclined to stay away after a loss as I treat that as a signal that something may have changed. For now, I am following the AUD strength while judging which currency is showing weakness. The AUD remains strong and should for awhile.

Hey
I am too staying away from this pair for awhile.....I am watching the gbp/aud...very strong indeed! Look out for the eur/gbp....long set up is coming soon.

Do you the nzd is also strong too?

Kingsley

Thomas Long · #**505** (**permalink**) 10-15-2009, 10:13 AM

Quote:

Originally Posted by lissyking

Hey
I am too staying away from this pair for awhile.....I am watching the gbp/aud...very strong indeed! Look out for the eur/gbp....long set up is coming soon.

Do you the nzd is also strong too?

Kingsley

The NZD has been strong, but I think the AUD has been a little stronger, but certainly both are good choices. My next step is trying to figure out which of the other pairs are weak. We can see some turns this morning which does cloud the picture, but soon the right choices will show themselves. We just have to keep watching.

afo · #**506** (**permalink**) 10-15-2009, 02:34 PM

Quote:

Originally Posted by lissyking

Hey
I am too staying away from this pair for awhile.....I am watching the gbp/aud...very strong indeed! Look out for the eur/gbp....long set up is coming soon.

Do you the nzd is also strong too?

Kingsley

Hi lissyking. Was not able to post for sometime now cos my systems had falt. Am stopped out on dolar/yen to but @ BE cos i entered quit early and is a good thing to stay away from it now. You might want to check gbp/cad too it looks promissing.
Happy trading

lissyking · #**507** (**permalink**) 10-16-2009, 06:52 AM

Quote:

Originally Posted by afo

Hi lissyking. Was not able to post for sometime now cos my systems had falt. Am stopped out on dolar/yen to but @ BE cos i entered quit early and is a good thing to stay away from it now. You might want to check gbp/cad too it looks promissing.
Happy trading

hey afo
thanks for the heads up on gbp/cad, i will look forward to it......

kingsley

lissyking · #**508** (**permalink**) 10-16-2009, 07:15 AM

Quote:

Originally Posted by Thomas Long

The NZD has been strong, but I think the AUD has been a little stronger, but certainly both are good choices. My next step is trying to figure out which of the other pairs are weak. We can see some turns this morning which does cloud the picture, but soon the right choices will show themselves. We just have to keep watching.

Hey Tom
Any idea of weak currencies to pair up with?

Kingsley

lissyking · #**509** (**permalink**) 10-18-2009, 10:26 AM

Quote:

Originally Posted by Thomas Long

The NZD has been strong, but I think the AUD has been a little stronger, but certainly both are good choices. My next step is trying to figure out which of the other pairs are weak. We can see some turns this morning which does cloud the picture, but soon the right choices will show themselves. We just have to keep watching.

Hey Tom
I was looking at the pair USD/DKK

It has a strong downtrend both on the daily and the 4hr timeframes. It is approaching its resistance which will give me the opportunity to sell. The pip value for this pair is a bit low which is 0.02.
Whats your thought onthis pair?

Thanks

Kingsley

Thomas Long · #**510** (**permalink**) 10-19-2009, 06:49 AM

Quote:

Originally Posted by lissyking

Hey Tom
I was looking at the pair USD/DKK

It has a strong downtrend both on the daily and the 4hr timeframes. It is approaching its resistance which will give me the opportunity to sell. The pip value for this pair is a bit low which is 0.02.
Whats your thought onthis pair?

Thanks

Kingsley

I have a habit of just following the main currencies as that is where most of the volume is traded which can lead to better technical analysis. The pair looks fine as far as what we normally look for in a trading opportunity, but frankly I am not as well versed in the fundamentals of some of these pairs to feel comfortable enough to trade them.