Thread: Trend of the Day

Thank you my brother...

Originally Posted by Gregory McLeod

I would give a trade room to breath to give me a swing low in an uptrend. I may move stop to break even or allow trade room to breath until I get a swing low. If price moves rapidly up from entry then I would want to lock in a break even scenario. However, lately these trades are going very close to the stop so I let them breath.

I like that "In the money", but then again who doesn't. Looking good so far!!!

Originally Posted by Gregory McLeod

AUD/JPY long and USD/CHF short should both be in the money?

Originally Posted by Kimaki

Thank you my brother...

You are very welcome.

Originally Posted by Gregory McLeod

Hello CB. I am glad my material is beneficial. The GBP/USD could run a little bit before a longer drop. I would just draw a trend line on a 4-hour or 2hour chart and when price closes below that line, we would know that this counter-trend rally has exhausted itself. SSI has flipped the other way so I would be careful about shorting this pair too soon. However, I would take the word "Long" out of my vocabulary when I am speaking about GBP/USD. I heard that the futures traders in Chicago use 14,3,3 and I never changed. I believe I read it in Alexander Elder's book "Trading for a Living"

Thanks Greg, the SSI is still stuck on friday the 16th so I have no access for the moment, I have been looking at historic data with the 14,3,3 it really is spot on most of the time. I am beginning to think that the GBP might be the most fairly priced pair out there, it is not particularly strong which reflects thier economy and it is not particularly week which reflects the euro economy, it has in the past spent long periods around the 160 level so it may just be satisfied at or around this level. Perhaps markets find an equelibrium occosionally. CB.

Originally Posted by CB.

Thanks Greg, the SSI is still stuck on friday the 16th so I have no access for the moment, I have been looking at historic data with the 14,3,3 it really is spot on most of the time. I am beginning to think that the GBP might be the most fairly priced pair out there, it is not particularly strong which reflects thier economy and it is not particularly week which reflects the euro economy, it has in the past spent long periods around the 160 level so it may just be satisfied at or around this level. Perhaps markets find an equelibrium occosionally. CB.

Cable is challenging the daily down trend line from 2009. If it gets above it and the last high, the uptrend may be back.

Hay Greg, good day, what is it you think caused that jump long UsdCad this morning?

Originally Posted by Kimaki

Hay Greg, good day, what is it you think caused that jump long UsdCad this morning?

CAD - Bank of Canada Interest Rate Decision - Oct 20.

October 20, 2009 13:00 GMT Actual
0.25%Forecast
0.25%Previous
0.25%Source:
Bank of Canada (BOC)
Measures (What does it measure?):
The decision of the BOC Governing Council to change or maintain the overnight interest rate.
Frequency:
Eight times a year.
Purpose (Why should traders care?):
The overnight interest rate is the percentage that the Bank of Canada (BOC) charges other banks on borrowed money. The BOC sets this rate at one of the eight monetary policy meetings they hold each year. Generally, the rate decision is one of the most market-moving events on the economic calendar for the Canadian dollar. Traders are interested in how the overnight rate will affect inflation and other borrowing rates. In general, a raise in the rate has a positive impact on the Canadian dollar while cuts have a negative effect. The BOC statement that summarizes their rationale behind their decision is also of interest to traders.
Also Known As:
Interest Rates

Elle, Nice to see you, you dropped off the radar for a while. Thanks for the response. "Smoking!!!" answer.

Originally Posted by Elle

CAD - Bank of Canada Interest Rate Decision - Oct 20.

October 20, 2009 13:00 GMT Actual
0.25%Forecast
0.25%Previous
0.25%Source:
Bank of Canada (BOC)
Measures (What does it measure?):
The decision of the BOC Governing Council to change or maintain the overnight interest rate.
Frequency:
Eight times a year.
Purpose (Why should traders care?):
The overnight interest rate is the percentage that the Bank of Canada (BOC) charges other banks on borrowed money. The BOC sets this rate at one of the eight monetary policy meetings they hold each year. Generally, the rate decision is one of the most market-moving events on the economic calendar for the Canadian dollar. Traders are interested in how the overnight rate will affect inflation and other borrowing rates. In general, a raise in the rate has a positive impact on the Canadian dollar while cuts have a negative effect. The BOC statement that summarizes their rationale behind their decision is also of interest to traders.
Also Known As:
Interest Rates

Originally Posted by Kimaki

Elle, Nice to see you, you dropped off the radar for a while. Thanks for the response. "Smoking!!!" answer.

You're welcome Robert.
Doing a lot of scalping these last 3 weeks.
Hard to be on forums at same time.
I sent you an email.
Best,
Elle

Good morning Greg, Looking at AudJpy, I have been nursing this trade for over a week now. She is up over 160 pips hitting resistance at 85.150 just some 24pips below my limit. Money management again. I have taken half my profit and stop is up to last swing low some 106 pips. Some time ago you said that she could possibly go to 90.00, I am only interested in my limit. A week has passed and this is Friday, 24pips away from my target. Do traders normally close out here once so close or risk weather she comes back down. to the stop 60 pips away? Isn't that like risking 60 pips for 24pips. whats the norm here?

Hey
What are the trend of the day guys......greg, kimaki etc?

Lissyking, I am just hanging in there like you.

Originally Posted by lissyking

Hey
What are the trend of the day guys......greg, kimaki etc?

I have been looking at EurUsd & AudUsd to go long, and UsdCad & UsdChf to go short. However with the exception of UsdChf the SSI report does not agree with me.

Originally Posted by lissyking

Hey
What are the trend of the day guys......greg, kimaki etc?

Originally Posted by Kimaki

I have been looking at EurUsd & AudUsd to go long, and UsdCad & UsdChf to go short. However with the exception of UsdChf the SSI report does not agree with me.

Good morning guys,
I've been stung a few times now by this $ rally..on USDCAD and USDJPY.
EURUSD maybe be setting up for a long, its sat on the 50ma on the daily chart and also flirting with a TL drawn from 03/03..but i will wait and see how todays candle closes. USDJPY seems to have rolled over now and has clearly broken the TL on 2H...im looking for a rally to short.may happen may not.
Comments welcome.
M$M

Hi M$M, Yesterday I was looking to go short on UsdJpy. I was looking for a break below 91.000, but when that occurred the indicators seem to be moving a lot more than the price and I felt she would not get far. As we can see, she didn't and retraced up to the 91.22 area. Not sure what next. SSI has 2.71 traders long to 1 short, indicating more losses.

Originally Posted by Million$Man

Good morning guys,
I've been stung a few times now by this $ rally..on USDCAD and USDJPY.
EURUSD maybe be setting up for a long, its sat on the 50ma on the daily chart and also flirting with a TL drawn from 03/03..but i will wait and see how todays candle closes. USDJPY seems to have rolled over now and has clearly broken the TL on 2H...im looking for a rally to short.may happen may not.
Comments welcome.
M$M