Anna-Maria

He was only having a (caustic) humorous dig at me torero! It's a standing joke that I unearth all sorts of clutter out there in cyber land. But I agree with you, if a newcomer to FX wants to dip their toe, that site ships some decent material. Sure, you need to carry a flame thrower to raze a lot of weed & clear a path thru the crap, but there are one or two items certainly worthy of a second glance in there. The fee's reference is Krantzy maintaining there's a whole pile of dough waiting to be had from charging the new kids for their Babypips School tuition. They're all heart huh? :o

Yes, they're a real treat on any timeframe torero. Especially of late where the "put the risk on/take the risk off" crew are flagging well lit levels both north & south. Take a chart timeframe of your choice & play your game! At least there are clear boundaries to draw your line if you're seeking to roll positions over. Glad you're filling your pockets

Ohhhhh they're in there all right....you just can't see em :o :o Too busy massaging 108.0/109.0 Hoodies waiting to mug them at 110.50/111.0

Well, my views on this instrument might not sit in harmony with yours, we all trade from different landscapes & angles etc. I'm short this pair on one account/strategy & flip to 2 way (long & short) on another a/c dependant on the short term flows. I & my buddies here are firm believers in keeping the fundamentals & technicals in real close company when trading currencies, which doesn't suit a lot of retail traders outlook. I guess it depends on how you view trading? Some fella's rely exclusively on technicals, others place a large emphasis on mech system triggers etc. I guess whatever gets the job done. Again, it might help you some if you bed yourself into a simple educational course similar to the one I mentioned above? Get a basic grasp of what turns these instruments on & tickles their bellies? If you then wish to major on one particular sector (fundaments/technicals), then move up a gear & hit the gas. Technically, 109 to 111.50 places this pair in strong range territory. This zone (109.0) is the 2006 low, therefore likely to extract a little nervous energy from both camps. It will certainly be a very strong radar for Yen Bulls (short) if it begins to stutter around here. Yen Bears need to start building a sturdy base between current lows (107.20-50) & 109.0 in the form of higher lows/ + a range structure to encourage accumulation & demand on trips back. This type of activity (base building) can be a decent intraday play as both camps attempt to assert their authority. The big money is then made once prices have a guage in which to bounce from. Once these floors/ceilings gain substance, you can use them as barometers from which to compound into positions from your slightly larger (big hourly) timeframes. But they require testing first. Until they justify building a core position - they can be traded from the short-term strategy play as aggressively as you wish!

1 full pip short from 108.58 would take price to 108.57, the 3rd number after the decimal is the 1/10th. A standard (100,000) lot on this pair stands at $9.17. Your risk is down to how you wish to play your strategy. If you’re computing it via your account balance, then what % of $1k does that represent?? Easy option would be to maybe determine what % of your capital base you wish to delegate to your trade first, & then maybe wrap everything else around that axis point? You can then calculate your trade expectations/stop value etc & manage the trade accordingly? Your entry, stops & trade exit/management will revolve wholly around your strategy play. You’ll obviously employ different parameters based on the instruments current conditions (range/trend/volatility/momentum etc). The conditions influence your game plan. Therefore the trade tools/management structures on trends will differ from those utilized for ranges etc. Sounds like you need to run yourself thru some sort of basic FX education module or something? Piling in unprepared or even a little unsure of your bearings, will get you beat up real bad in this arena. Why not pop along to a newbie hang out like Babypips for instance? http://www.babypips.com/school/ They got themselves a Forex beginner education section in there, which might offer you some background/structure to assist in familiarizing yourself along the road? Just a suggestion.

This pair has blunted the sharp Tokyo kickback & forced price back inside this developing 2nd tier range tunnel. Certainly hasn't alarmed the Yen Bulls any, & Friday's lows are back in focus. Action across the board has been wishy washy this morning in London trade, with no real meaty triggers, including this pair. A case of managing the shorts & sitting tight until a decent compound opp presents itself, or trailing stops come under pressure.

Short term eyes focusing this monthly 50% line, which kisses a natural price s&r zone. Maintaining higher lows (just) thru the Nov fall-out, but it's breathing heavy underneath this zone & requires a determined kick thru .0750-70 to raise the tempo. 3rd quarter longs are ok for the time being, but the shorters won't require too much tempting (neither will I) to step in & whack it if it continues to dither & dawdle at current levels.

160.5 remains your range defense on EURJPY Andre Key Jap data hits the tape tomorrow/Thursday. BoJ clearing their throats if ($-yen) 109.0 turns out to be a ceiling. View from the cheap seats? Same 109.0 influences GBPJPY 225.5/EURJPY 162.5 upside. Thoughts people??

Rip you off as in what? how? They're not deal desks. They earn their fee's (from your account anyway) via the comms, therefore they route you directly into the flow. To my knowledge, they don't shade or fade you. Get on the phones, speak to them & tell them what you want/need. They won't hold your hand, but talk out there is positive for both firms. I have no view/comments on Forex.com, sorry. Pitfalls? The web, specific sites-threads, 2nd & 3rd hand contacts etc, are awash with varying degree's of inefficiency and/or bad karma regards the deal desk outfits. Most of it can be attributed to inexperienced, ineffective & ill prepared traders. Majority are under-capped, over leveraged gamblers who blow up then cry wolf & urinate on the brokers. However, it's (unregulated) a free for all out there, especially amongst the low tier shops. Worst offenders will fade, shade & skew prices when they get the slightest opportunity, in both hectic & quiet periods. Outside of the majors, spreads are criminal, particularly on Yen crosses. Dangerous territory if you're a greenhorn. + why trade with a shop who controls the price (fixed spreads/high hidden costs) when you can leg in via a straight thru (ECN) operator?? Again, engage brain & use common sense. Ask (the IB's & EFX's) searching questions...fee's/spreads/costs/liquidity blah blah. Beware of greeks bearing gifts (fixed spreads - low or otherwise), no slippage, guaranteed fills & other such garbage. Markets are markets whatever the instrument!!

Ditto. Always wise to give a wide berth to the spin & churn merchants. Even the larger, popular retail shops have absolutetly nothing serious to offer. Budget retail spot is ok if you leg in via the likes of Interactive Brokers, Hotspot & EFX. Choose your partner according to your pocket, aims & expectations. If you're competant, manage to avoid the usual pitfalls & stay the course, alternative avenues will open up for you if you really want them to. Usual advice applies: Due diligence, engage brain & double check!!

1st skittle knocked over. Next one in the sights. That 224.0 hourly candle rejection into today's very thin Tokyo trade maintained the (Yen) bullish stranglehold. Hope Jimmy Choo's got plenty of stock in the store room!!

Can't really go wrong as long as you're paddling with the Yen flows this week torero. As you say, if you're unsure due to the thin conditions, simply reduce the size & play your stops to the s&r safety nets. Nice trade if you took it

Naaahh, quiet day really. No more Euro purchases today here. Just lightened up into Frankfurt & left the stops loose. Happy to watch it loll around up here. Yeah, another fine 162.5 to 160.5 ladder run. Wasn’t on it unfortunately, but agree, those 2 pairs off their respective levels, are home runs this week. Nice fast money in the bank. Art won’t hold anything beginning with a Y since 111.50. BoJ officials are hitting the mic (again) & beginning to jawbone in droves this week as Yen pops thru 110. They’re ok as intraday bets, but he’ll let the bravehearts hold the size at these levels. Reckon they’ll try spook some of these lazy, nervy European longs into the w/end maybe? A long overdue shakeout?

And whilst the Cable snipers were being hustled & scurrying for cover, the Geppy crew had pared off a little profit & were well placed to advantage themselves of any continued momentum via the news, off the upper s&r line & Tokyo low breach. Horses for courses!

Choppy, nervy action ahead of & into the MPC minutes. Great example of the elevated risk thus far this a.m This popular strat (Tokyo range play) shaking them out this morning. GBPJPY & EURJPY offering better risk plays via the intradays off this type of activity.

Concur those Bull defenses Bull-Bear fulcrums.

He didn't buy more (EU) y'day Andre, merely traded thru the b/o. We've taken advantage of y'days strong bullish day however to lighten (book more profit) up a little on both of them into this mornings European trade. The savvy players will no doubt use this strength to pare off & hand the risk across to the intradayers. It's maybe worth waiting to see how the week plays out into the Stateside holidays at current levels. Let the stops do their job if conditions get windy. As you quite rightly point out, let the charts speak. Good trading all.

EURJPY zones of interest. Getting to grips with & striking in off the premium entries/exits will really involve unsocial hours for you European fella's, but they do allow appropriate (pullback) entries etc during Frankfurt/London/NY business hours.

Good luck with your CAD punt t. Strong pound today. If you didn't/couldn't spot an in via the Cable, keep the eyes primed on Pound-Yen. That pair carry a positive intraday range around with it, & Andre (milliard) posted up these s&r lines last week: 225.50-228.20. Worth keeping on your watch log as & when it circles these interest zones. Similar on EURJPY. They virtually always offer clear leg in's thru the lines/zones, as well as nailed on exits & pares off the next level up/down such as this mornings action. Obviously depends on your small frame triggers etc, but I'm sure you'll have something in your tool-kit to pick the lock

I think you got the main nickname offenders torero. Apart from those two & maybe loonie (CAD) the rest are self explanatory. Agree re; Cable. Art bought it Friday via the fast frames off this support-demand zone & I believe he's still holding some of it, but it's flagging & really needs to bust the lower high level at 2.0600 before I'll get excited. Sure, buy & holding it inside this previous 2.0250-2.0450 demand tunnel isn't going to hurt you, especially if you believe the greenback is in for more pain. There are better opportunities out there for stressless profits than hunting Cable around these tricky levels in my book, but each to their own. As ever, good luck & good trading.

I think you'll find their recent buying to the line is on the back of Friday's Daily & 60m hammer (pinocchio?) combination. Clearance thru 2970 & that 60pip tunnel up to 2.3030 on your short timeframe chart will rubber stamp the hammers. I still think I'd rather do battle with the Ozzzie, especially .8770-9070 AUDUSD & above/below the 100.0 AUDJPY. Much more gentlemanly & polite behaviour across there. Leave the black eye thumping & shirt pulling to the Cable ruffians.

Ha ha, yeah ok I hear (& concede) your claxon horns re: the 4 hour lower tops. But this 0450, high line of the previous range tunnel will still dictate play on this one for now. It's still a decent demand zone. Granted, they're making a bit of a song & dance of it, but we'll buy it & you can sell it further up just don't think we'll buy it this morning I will admit though - Geppy 228.20 dances to your tune! ps: Hi torero, nice to see you're still walking the board.

:o Barks worst than the bite. Isn't it?? Nice trade to carry over into next week though. All it needs is a cursory glance back toward 2.0450 into early Tokyo trade Sunday, & it's up up & away. Continued dour news still hanging over the buck, ought to be enough to kick these 2 European heavyweights higher from here I would have thought. I concur with FXTraders comments: 2.0400-50 are pretty neat purchase order tickets on the Pound. Euro buy orders back to the premier 240m higher low s&r step (1.4525 thru 4580) have paid, & will continue to pay dividends too. Thoughts anyone?

Hey Torero, I see you're maintaining the good work, nice to see. The site sure has gained some ground huh? some real fine content on here since I last visited. Ya, attempting to keep things nice & simple isn't rocket science the difficult part is just that - keeping it simple LOL. I assume you're still flirting with the FX? Time oughta be a little kinder this month with the vacations and all, see if we can't whip up a breeze along with Walter & Don here! Thank you for your welcome, appreciate the words

Yes, providing he gets a valid candle print (or reversal combo) at the RSI extreme & it matches with previous rejection behaviour, then he'll take it on. Quite often the vicinity of these set-ups, teamed with his small timeframe execution, allows a close proximity stop-loss to be engaged - offering very good r/r ratio's. He'll play the breaks only if price re-tests the s&r b/o point. Never on a blind break.