SL @ 1.6457ish?
I’m going to wait until the 15min middle bollinger has been crossed but I’m definitely looking for a short not a long at the moment.
[B]SanMiguel[/B]
Pretty close! 1.6455.
I shorted 1.6433
That was a scary ride But I held out for at least BE closed for +5 pip
No way I should have taken that trade I just thought (HOPED) it was time to head South. Shame on me
Oh well another lesson learned (I hope remembered.:o)
John
You mean before the news report?
I’m still short at the moment but doesn’t look like it’s going far. We have the FOMC statement at 1815GMT coming up.
EU is still heading down and has some good reversal candles on the 4hr, GU looks like it might be forming one.
I’m staying out of this. I don’t like what I see…there are some really weird things going on with USD pairs.
Perhaps FOMC is the reason. But I don’t take my chances. One “lucky” ride with GU today is more than enough luck for me.
Tomorrow is another day. 
I have to agree - one of those news days today.
Anyway, I took my +5 on the EURUSD and +27 on the GBPUSD so good enough for today.
No the news is still a ways off.
The BB’s are going up as are the MA’s the reason I took it was the 5Min Mid-band was slightly down and it looked like it was bouncing off a Resistance line I had drawn.Plus I wanted it to go down.
John
Well I’m still in as SL wasn’t hit.
15m still looks like a goer to me and 1h is shaping up.
I agree. It’s bizarre to see USD going down as a cross currency and, yet, also going down as a base during the same two trades.
Thank God for that Swissy rocket ship over the last two hours, I got out the casino dice and had some fun with it. 
It still looks good, I’m just scared of news reports. Still…looks like you have about 50pips in the bag by now so no harm in seeing what happens.
I may enter on a 15min retrace if things look okay after 1915 (1815GMT). 
[B]SanMiguel[/B]
May I venture so bold as to suggest from the posts, some might have been trading candles and not ma in this last trade?
If your looking for a ‘longer’ term trade then a set up on the 15m with a view to where the one hours at is the key. But expect PA to play silly buggers whilst still following 15 ma.
If a little light on risk, then perhaps the 5m would be a better bet. Say look to the 1h for a good set up, then 15m and enter/ exit on 5m ma.
My TP1 got hit at +50 pips. TP2 is way down at 1.6365. Ever the optimist.
Well, I try to look at everything, it’s the same as saying you’re trading S/R but in fact what we do is trade the MAs at the S/R point and in this case there were also some reversal candles at that point
I took a SELL based on the 1hr MAs but with a big news report coming out I just closed it early, that’s all. Not so bad is it 
[B]SanMiguel[/B]
Was not pointing a finger at anyone… just got the feeling from all the posts that ma had taken a back seat to candles. :D:D:D
R Carter
You can point your finger at me I am guilty. 
Today I am confused but I did get 2 out of 3 correct for +15 pip profit on the day so I’m not complaining.
Now to wait till things settle down after the news.
But it is time to trade smart for a change.
BTW sense I started following this Thread I have only two loosing trades so I am a happy puppy.
John
[B]JCGIBSON[/B]
As long as at the end of the day, week or month you come away with a bigger account than you started with. You can count yourself a successful trader right. 15 pips… is 15 pips!
R Carter
You got that right.
But it is only Wednesday so far the only day I make any real pip’s is Friday, so I have a shot at get back some of the 59 pips I’m down for the month.
It sure would fell good to be up at least 1 pip at the end.
John
Nice news spike there on GU and EU.
Well, give it 30mins or so and I’ll be looking for shorts again…assuming that’s what the MAs say. The last spike tunneled straight through the resistance lines though so not sure where we’re going next.
do any of you trade the news or do you stay out right before ?
If I have a trade open from hours before or possibly the previous day and I think the news will go in my favour then I might leave it open but I would move my stop accordingly to protect the existing trade.
Best not to trade 1 hour either side of news.
The fact is you can’t really know what is going to happen. At one of the recent interest rate mettings in GB, the rate stayed the same and the � dropped by 100 odd pips. As you have seen today, the interest rate stayed the same, yet the � went up 100 or so pips. The large institutions use these reports to orientate their long term trades and just dump or buy massive amounts of currency. That’s not to mention the fact that brokers increase their spreads during major news reports and some I know, their entire system crashes at every major news report.
Ones I know to keep out of are:
- US NFP reports 1st Fri of every month (I don’t even open up my broker on these days)
- in fact you’ll often find very little PA the day before an NFP report but this depends
- BoE interest rate announcements
- MPC
- FOMC
- ECB press conferences
- Any 3rd Friday quarterly (Mar, Jun, Sep, Dec) - not news but can sometimes be a bit more volatile - quadruple witching days.
There are others but these are the major ones I think - sure the others can add other major ones to this.