Ok guys, i want to know your thoughts. This is a trade that not many people talk about…and to be honest, i just stumbled accross it while i was looking for a different currency pair to trade. This one jumped off the screen! Just look at this chart
It NEVER breaks below the Yellow dotted line i drew…EVER! And look where it is headed now…right back towards the line. This might be a HUGE opportunity for us to jump in, and get in at the ground level of a major upswing. I have my stop in VERY tight, right under the yellow line. If it breaks below…then all bets are off.
My Trade: LONG USD/HKD
Rate: 7.75250
Stop: 7.74622
Limit: 7.83000 (but i will be closely monitoring this on the way up - probably will add a trailing stop)
I can say NEVER, because i was talking in the past tense. It has NEVER gone below that line. The purpose if have a tight stop right under the line, is to get myself out of the trade in the case where this pairing, for the first time EVER, breaks below this previously impenetrable line. Open up the chart on your machine…it hits a wall and bounces off every time. You must admit…this is a heck of a strong support level :7:
PLACE YOUR TRADE BUDDY! Lets make some money together
Are you and I the only ones who like exotics here?
My analysis is bullish on this one as well. Stuck in PR with spotty internet. Will give this a better look when I’m back home. I think you’ll be happy going long here though. Market flow is very bearish on this one however, so take profits when you can.
Everyone can listen to an “expert” on the majors…but i feel like finding a good gen in the exotics is much more challenging. Much less crowded…and moves are wild
Any info you can provide on this pairing is appreciated. I cannot fund much out there…
My analysis is purely technical here. Like I said, I do think it’s going bullish this week, but won’t stay there terribly long, so just have that in your mind.
I’m thinking of opening up at GFT account, just so I can have access to more of them. Most of the exotics seem to fit my technical analysis even better than majors do. Hard to explain, but I’ve had so much more success with them.
Just recently I’ve read about a broker (not Saxo) who offers 150+ currency pairs … that should cover even the most exotic pairs.
If only I could remember which one it was.
It went below that line in 2003. Quite a long way below it. And going back further it spent most of the 1990s below that impenetrable line. But to look at the more recent price action what you’re seeing on the charts is a managed currency in action. HKD is pegged to USD at 7.8 but it’s allowed to fluctuate in a band roughly between 7.75 and 7.85 depending on various economic fluctuations and developments in mainland China. I think there’s a currency board there so might be worthwhile checking up on any developments there which would suggest a change to this trading band. If there isn’t then buying at around 7.75 is a pretty low risk trade though you’ll probably have to hold for a number of months to reach your TP. Think there’ll be a higher margin requirement also to trade USD/HKD.
Hi, I am wery interested in this trade, and wondered about taking a gamble(since Im still loosing on the demo ) and just put down some money…
but does someone know how the rollover charge would be on this one?
(And does someone know of a broker that deal with this pair and I can deposit with mastercard and open an account with 200$? I feel lucky and ofcourse high leverage, Im going to bet 100$ on a 30pip SL and see what happens )
PS, and please dont kick me out for beeing a gambler
Richard, Open an FXCM Micro account (50$ min) and yes…you can upload funds via Visa/Mastercard
Hey…if you want to “GAMBLE”…the by all means, go right ahead. Its your money to win/lose. Some people get all uptight on these forums and will tell you that you dont know what your doing, etc…But hey, you are saying that you want to GAMBLE…so, clearly, you accept the risk! Nothing wrong with that. Gamble away! But…it is more fun to get into forex trading and use indicators to find better entry/exit points. Of course, there is still an element of luck, but its a more calculated risk.
Hi, yeah, thats my goal, but my skill at trading today, it is more of a gamle than a calculated risk, so I would never deposit money for real trading, just because Im not ready yet
But I do love gambling(at least since a vacation to vegas a year ago ), so on this bet, Im guessing the odds are in my favor. But this is still a trading forum, so Ill stopp talking about gambling from here on
I think HKD will devalue, or repeg to RMB. Soon.
Elites are fleeing the country. HKMA lost 80% of reserves in last 12 months. Banking sector is 850% of GDP. Of that, 250% invested in HK / China R-E. I think it’s why Trump trade policy is so hard line.(JMO)
) and just put down some money…
and ofcourse high leverage, Im going to bet 100$ on a 30pip SL and see what happens