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| Author: | fx800 [ Sat Apr 13, 2013 8:37 am ] |
| Post subject: | Re: Gday Mark 2 |
The market is anything but predictable. So, the sensible thing to do is trade small lots. On daily charts, all the yen pairs were very overbought. Anyone running GDAY MK2 H4 would have done quite well yesterday. I seem to remember Cuz did have the ea on H4, but was it set on buy only ? As I had the pre-conceived idea that we should go long on all yen pairs, the result is many false signals using lower time frame stochs and resulting loss trades. I am holding on to my yen pairs longs over the weekend. Let's hope there is not another sharp gap down when the market re-opens on Sunday night. Bob says the yen pairs may be establishing a new low, let's hope he is right. Those traders at FF who were selling xxxjpy pairs were not dumb afterall. They saw that xxxjpy pairs were overbought and we didn't. We were overtaken by the euphoria from last week. Always remember who Bob said years ago at FF, what goes up must come down. I knew at some stage this will happen, but didn't expect it was so soon. No point dwelling on the past, on to next week and better luck maybe. You win some, and you lose some. |
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| Author: | fx800 [ Sun Apr 14, 2013 11:03 am ] |
| Post subject: | Re: Gday Mark 2 |
Many yen pairs are oversold on the H4 stochs. Will try to catch the retrace using GDAY MK2. H4 tf are less prone to false signals. GO BACK TO BASICS AND WATCH THE H4 AND D1 STOCHS. Good luck to everyone this coming week. |
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| Author: | fx800 [ Sun Apr 14, 2013 1:15 pm ] |
| Post subject: | Re: Gday Mark 2 |
Brace yourself. The yen pairs may have further to fall, probably to 38.2 fib. level this week before resuming its upward journey. If we are lucky and the trend is still strong, we may have a bounce from 38.2 fib level, otherwise we may have further drop to 50 fib level. |
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| Author: | cuzgeorge [ Sun Apr 14, 2013 1:27 pm ] |
| Post subject: | Re: Gday Mark 2 |
Peter, Thanks for update and thoughts. im back to normal with a trading daily TF, buying and selling. only one buy on AUDUSD open at moment, and using only option 2 for now. WIll replace accordingly if we see market going against us. regards cuz |
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| Author: | fx800 [ Sun Apr 14, 2013 1:40 pm ] |
| Post subject: | Re: Gday Mark 2 |
Here is Bob's post today in his 10.4 thread Until the big boys enter their second level trades and then it will shoot back up again. I am going to guess that Monday prices will gap down, the banks will run all their JPY buys first and then the big boys will start jumping in with their 2nd entrances. May not happen right away but they will reenter when they think this sell off ends. |
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| Author: | fx800 [ Sun Apr 14, 2013 1:49 pm ] |
| Post subject: | Re: Gday Mark 2 |
Hi Cuz, You lucky boy, I think there are many in this forum who are in DD from carrying the yen short trades over the weekend, me included. More turbulence ahead when the market opens. I think H4 GDAY trades should be relatively safe, less prone to market noise. Would likely catch the uptrend when it resumes. The AUDUSD is still on uptrend, support at 1.0500, likely to go up to 1.0600 before turning down again. Good luck to you this coming week. peter |
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| Author: | fx800 [ Sun Apr 14, 2013 10:11 pm ] |
| Post subject: | Re: Gday Mark 2 |
A small gap down for the yen pairs at open and a bounce from 23.8 fib level. H4 stochs still not break 20 level. |
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| Author: | fx800 [ Mon Apr 15, 2013 4:15 am ] |
| Post subject: | Re: Gday Mark 2 |
Bad economic news from China, causing commodity currencies the Aussie and Kiwi to tumble. Yen pairs broke through the 23.8 fib. level, following the fall in the Dow and Nikkei, flight to safety of the yen. |
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| Author: | fx800 [ Mon Apr 15, 2013 1:52 pm ] |
| Post subject: | Re: Gday Mark 2 |
I hope many of you survive the blood bath today to trade another day. Go back to basics. Look at weekly charts, daily charts and H4 charts and the signals are there, yet we ignore them. Everyone was buying yen and we are the only ones selling, not only that, we were selling at multiple levels which compound the loss. Lesson learned. |
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| Author: | fx800 [ Mon Apr 15, 2013 8:20 pm ] |
| Post subject: | Re: Gday Mark 2 |
The DOW plunging. Closed all yen trades. What a day ! |
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