Thread: GBP and JPY Pairs H1 2013

Originally Posted by Gregory McLeod

Welcome turmaz! I have made 3 short videos on using the DailyFX Forums: http://forexforums.dailyfx.com/how-u...ow-videos.html (Daily FX Forum How-To Videos)

thank you very much sir i appreciate that

Originally Posted by turmaz

thank you very much sir i appreciate that

You are very welcome! Glad to have you join us in the DailyFX Forum community!

here is why i think this is going up and might break 1.32xx as u can see on my chat there is beautiful down channel which was broken yesterday and today it retested the upper line successfully to me on hourly time frame the down trend has finished we are in good uptrend now atleast on hourly time frame, look on the golden circle how beautifully it retested successfully!

hi new in forum
new in forex
i sell(short) euro /usd at 1.3080 and lossing 5 $ . what to do now ? euro is above 1.3115 now

Is time for bears to taking the control....

Currently, there is a Doji formation developing around 1.3122. The market is starting to settle after a week since its ~330 pip drop from 4/3-4/5. I put in a Buy order @ 1.3140 and am projecting for a moderate climb with a little more volatility than it has been the last week.

Originally Posted by fxloser

hi new in forum
new in forex
i sell(short) euro /usd at 1.3080 and lossing 5 $ . what to do now ? euro is above 1.3115 now

If you are confused and losing money, it is best to cut your losses quickly. Then yell or scream, whatever to release the stress. Then start over after figuring out what you did wrong.

The best of us will still suffer losses at times. The better you get at dealing with it, the better off you will be in the long run.

The CCI crossover on the 15min chart could goose the action to the upside.

Originally Posted by fxloser

hi new in forum
new in forex
i sell(short) euro /usd at 1.3080 and lossing 5 $ . what to do now ? euro is above 1.3115 now

If i say it is going up, someone with BIG money may decide to bring price to you and then I am wrong.
That's the reason we use stops. No matter how confident I am on a single trade setup or how much experience I have, I still use stops just because of what I just said. We never know who may step in the FX Market and BUY or SELL BIG.

i just want to know euro usd will come to 1.3080 or not ? today or tomorrow

Originally Posted by fxloser

i just want to know euro usd will come to 1.3080 or not ? today or tomorrow

You might want to change that handle of your's - not very Positive Mental Attitude now is it? Welcome to the forum and I hope you enjoy the ride. I think Stryker put it very well last week to another new member in that sitting and watching without pulling the trigger may be more easier on the soul until you are ready. If you read here long enough, you will come to realise that we make up a pretty inconclusive bunch at times notwithstanding our sincerest bestest efforts at analysis. We are all in the same boat, it is just that some do not sweat the odd leak or even flood on occasions.

Consensus and apparent analysis suggests up is a coming but a fall could come instead - I know already!!

Good luck sir.

Originally Posted by fxloser

i just want to know euro usd will come to 1.3080 or not ? today or tomorrow

The problem with trying to stay with a losing position is the mental pain and opportunity lost in while waiting for something to happen. Even if the price came back down to your desired level, it will likely do so from much higher levels than the current level. Exit ASAP. You can always reenter your short at a better level is that is what you want to do.

I am sure what rcopadilla was trying to say is that is what he would do as many others probably too. However, as far as I know, this is not a licenced site to give advice per se, especially to any individual over and above general advice. I am certainly not licenced to give anyone any advice whatsoever and all posts that I put up are for sharing my journey with others and hopefully vice vercer.

Please make sure that on all occasions, you feel comfortable with your own counsel or you will surely live to regret any other action in time.

Originally Posted by fxloser

i just want to know euro usd will come to 1.3080 or not ? today or tomorrow

No-one can tell for sure, especially in such a small timeframe. That's why like AV said, you really need to decide for yourself your pain threshold: how much pain you can take and how long you can take it. I've been there, and done that, and even on nearly £50 per pip. All traders have gone through that learning curve. You're the only one who can give yourself the answer. Good luck. And do come back to fight another day if this is not just an occasional odd bet of yours.

I like what Clive said that some didn't sweat over the odd leak or even flood on occasions.... that really brought a smile to my face )

Originally Posted by fxloser

hi new in forum
new in forex
i sell(short) euro /usd at 1.3080 and lossing 5 $ . what to do now ? euro is above 1.3115 now

I would put a stop above 1.3152 and wait. Latest action looks like a triangle. Above 1.3152 - we`re up to 1.3260-3300 - below 1.3069 - fasten your seatbelts. Here`s 4h chart - PW-Trend divergence (blue vert. lines) makes me favour bearish bias - 80sma still pushes the price down. From EW perspective this would be a WXY correction with a triangle as a wave Y.

Good luck

edit: and for a Christ sake! - change your signature - fxnovice?

Patryk