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05-29-2009, 03:34 PM
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Join Date: May 2009
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Question about the "trading signals" with FXCM...
Can anyone give me any information on the trading signals? I'm going to open up a micro account just for the use of the "trading signals". Is there any credence to using those signals along with your own trading style? Can anyone tell me, on a scale of 1 to 10, 10 being the highest, where they rate? Thanks!
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05-29-2009, 05:42 PM
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Quote:
Originally Posted by enap66
Can anyone give me any information on the trading signals? I'm going to open up a micro account just for the use of the "trading signals". Is there any credence to using those signals along with your own trading style? Can anyone tell me, on a scale of 1 to 10, 10 being the highest, where they rate? Thanks!
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Hello enap66.... Um the signals..... The signals are iffy just as normal trading. Sometimes they are right on and sometimes they are way way off, I do know that the dailyfx people spend a lot of time and effort trying to narrow down the best signals possible and IMO they do a great job, but just as forex is unpredictable so are the signals. Ill tell you one way that you can really benefit from there signals. 1. Have your own strategy and when you get a signal from your own strategy AND dailyFX then you should feel more confident in your trade. 2. I reallly liked to trade when the Breakout 1 and breakout 2 signal was on. It was almost always good for at least a heavy 50 pip scalp! Hope this helps
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05-31-2009, 03:05 PM
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Posts: 146
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CHARTING
Quote:
Originally Posted by coffee
does anyone know the EW count????? i cant make head/tails of it
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Hi Coffee:
What Charting Software are you using?
Regards. |
06-01-2009, 10:54 AM
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Posts: 1,495
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Quote:
Originally Posted by FOREX Analyst
I know if I post this, may against many other traders in this forum. But this is an insight information. I received a private email that I subscribe, saying that CHINA is ALREADY discussing with Japanese that they will sell the USD dollar and buying Japanese Yen.
China currently have almost 1/3 money in the world and they are heavily invested in the US treasury and others. If they start to sell, it would be like September 11, when everything drop more than 40% to 50% in a day.
Now, Im looking to SHORT USD/JPY, AUD/JPY, EUR/JPY, GBP/JPY and others.
BEWARE OF THIS, YOU MAY AGAINST ME NOW, I refer to be safe than sorry.
Best to you all
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So.. how is your short AUD JPY, EUR JPY, GBP JPY, and others doing?
Do you still earn 2100% in 8 months?
Hope you have a new super sleuth insightful email again about China and Japan. |
06-01-2009, 10:58 AM
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Posts: 1,227
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Quote:
Originally Posted by cmellon
So.. how is your short AUD JPY, EUR JPY, GBP JPY, and others doing?
Do you still earn 2100% in 8 months?
Hope you have a new super sleuth insightful email again about China and Japan.
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I think on those shorts SHE (msforex) lost a lot of that 2100% but her subscribers are good, its still free right now  |
06-01-2009, 03:57 PM
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Retail traders increased their short interest sharply over the past 24 hours. Looks like they are entrusting their positions to 97 as a potential range support. Not unreasonable considering what the dollar has done everywhere else and that we are generally within a broad congestion. Still, it is something to keep in mind...
__________________
John Kicklighter is the author of Dynamic Carry Trade Basket, Watch What The Fed Watches, and Forex Trading Weekly Forecast on DailyFX.com
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06-02-2009, 01:43 AM
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Yen = 92
Think the yen is hedding to 92....
on the daily chart it looks just like that.
good luck to all
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06-02-2009, 09:15 AM
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USDJPY looks like it has a symmetrical triangle pattern forming on the weekly charts. I guess the thought would be that it's more likely to break in the direction from which it came, but I am confused at this point. The long term direction has been down, but with the enihilation of the dollar lately, it has been going up since early this year...any thoughts where this pair is headed? Especially is an FX Moderator has an opinion, that would be awesome. I am still learning these markets and really would like to keep trading, but lately I am getting killed along with the dollar. Thanks in advance.
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06-02-2009, 11:03 AM
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Quote:
Originally Posted by daytradingdiva
USDJPY looks like it has a symmetrical triangle pattern forming on the weekly charts. I guess the thought would be that it's more likely to break in the direction from which it came, but I am confused at this point. The long term direction has been down, but with the enihilation of the dollar lately, it has been going up since early this year...any thoughts where this pair is headed? Especially is an FX Moderator has an opinion, that would be awesome. I am still learning these markets and really would like to keep trading, but lately I am getting killed along with the dollar. Thanks in advance.
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I don't see the triangle formation you are talking about on the weekly chart. Have a picture?
I'm waiting for a breakout too. Direction is difficult to discern; but it won't be so easy to pick back up with the long-term bear trend. At this point, both currencies have their safe haven aspects (I would argue the US is the more appealing harbor for capital) and carry unwinding is running thin. Fundamentally, the US economy is in a stronger position - the government has acted more aggressively at correcting its troubles and domestic sources of growth are far more influential than they are in Japan.
In reality, I wouldn't be surprised to see a break below 93.00/2.50 again (it is a very prominent head-and-shoulders formation); but the decline will be short-lived. Right now, I'm waiting for a short-term move should we see a break above 97. The real action begins with a push above 101.50.
__________________
John Kicklighter is the author of Dynamic Carry Trade Basket, Watch What The Fed Watches, and Forex Trading Weekly Forecast on DailyFX.com
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06-02-2009, 11:10 AM
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Join Date: Jan 2009
Posts: 38
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Quote:
Originally Posted by John Kicklighter
I don't see the triangle formation you are talking about on the weekly chart. Have a picture?
I'm waiting for a breakout too. Direction is difficult to discern; but it won't be so easy to pick back up with the long-term bear trend. At this point, both currencies have their safe haven aspects (I would argue the US is the more appealing harbor for capital) and carry unwinding is running thin. Fundamentally, the US economy is in a stronger position - the government has acted more aggressively at correcting its troubles and domestic sources of growth are far more influential than they are in Japan.
In reality, I wouldn't be surprised to see a break below 93.00/2.50 again (it is a very prominent head-and-shoulders formation); but the decline will be short-lived. Right now, I'm waiting for a short-term move should we see a break above 97. The real action begins with a push above 101.50.
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John K., I'm attaching the photo I'm looking at. Maybe you can tell me if I'm interpreting it wrong or something. Thanks John.
Last edited by daytradingdiva; 06-02-2009 at 12:44 PM..
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06-03-2009, 06:10 AM
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Join Date: Oct 2003
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Sell CAD/JPY @88.35
All of the Yen crosses look like they might want to consider rolling over following some impressive moves over the past several weeks. However, we like selling this cross the most given the relative Canadian Dollar weakness of the past few days. The recent rally has broken above rising trend-line resistance and appears to be uncomfortable outside of this line and we look for Tuesday’s doji close along with today’s failure to materially extend gains beyond 89.10 to signal the start of a more significant corrective retracement back towards previous resistance turned support in the 86.00 area. A break below 87.70 will help to confirm bias and accelerate declines. Strategy: SELL @88.35 FOR AN 86.00 OBJECTIVE, STOP @90.35. Recommendation to be removed if not triggered by NY close on Monday.
All my best,
Joel
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06-03-2009, 11:34 AM
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Join Date: Jan 2007
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Quote:
Originally Posted by daytradingdiva
John K., I'm attaching the photo I'm looking at. Maybe you can tell me if I'm interpreting it wrong or something. Thanks John.
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It's a reasonable technical formation; but it is very 'loosely' based. Clear your oscillators and look at the consistency of the trendlines you have here. What you really have to consider is how you would place a trade around these technicals. Since the trendlines are kind of blurry, you have to set stops wide; and considering you are on a weekly time frame, the stops (or breakout entry if that is what you are going for) is going to be far away.
There is a good wedge formation on the lower-time frame charts (60-min). Looking at the daily charts, we still have a heads-and-shoulders formation. These I can play with a little greater accuracy in terms of entry, stops and targets.
__________________
John Kicklighter is the author of Dynamic Carry Trade Basket, Watch What The Fed Watches, and Forex Trading Weekly Forecast on DailyFX.com
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06-03-2009, 11:41 AM
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Join Date: Jan 2007
Posts: 1,768
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Quote:
Originally Posted by Joel Kruger
All of the Yen crosses look like they might want to consider rolling over following some impressive moves over the past several weeks. However, we like selling this cross the most given the relative Canadian Dollar weakness of the past few days. The recent rally has broken above rising trend-line resistance and appears to be uncomfortable outside of this line and we look for Tuesday’s doji close along with today’s failure to materially extend gains beyond 89.10 to signal the start of a more significant corrective retracement back towards previous resistance turned support in the 86.00 area. A break below 87.70 will help to confirm bias and accelerate declines. Strategy: SELL @88.35 FOR AN 86.00 OBJECTIVE, STOP @90.35. Recommendation to be removed if not triggered by NY close on Monday.
All my best,
Joel
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I was looking at the same pair.
The blue line is where I tried to short it last time. It was technically relevant at the time; but risk appetite would have its way.
Also, my confidence in this pair is waning as I have to keep adjusting my trenlines to fit swings. Not a good sign...
__________________
John Kicklighter is the author of Dynamic Carry Trade Basket, Watch What The Fed Watches, and Forex Trading Weekly Forecast on DailyFX.com
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06-03-2009, 08:34 PM
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I am shorting the Yen based on a major market structure on a daily chart, low, lower low, higher low and a close above the 13 ma. My entry was 95.95, stop at 93.5, target at 99.55
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06-03-2009, 08:42 PM
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Quote:
Originally Posted by coveredcalls
I am shorting the Yen based on a major market structure on a daily chart, low, lower low, higher low and a close above the 13 ma. My entry was 95.95, stop at 93.5, target at 99.55
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Do you have a chart for this? I would agree the Yen is a bit soft. |
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