Give it time. In the long run, the euro has no where to go but down. And on that note, MY 1.1630 short weathered the spike. Then again, ti does have a massive SL. Will reload shorts again at/near 1.170

EURUSD

Out of curiosity, why do people have less than a SL of 100 pips whenever we have a central bank conference? Do they not know how volatile it can be before, during, and after the news?

EURUSD

Price volatility. People are reacting; this is the norm. Most likely seeing a flood of eurozone bonds/stocks being bought that's causing this rise. A QE is better than no QE for europe as a collective whole. Stocks, of course ,affect forex prices. ...

EURUSD

Thanks. It's been hectic for me as well, and just recently, I've blown nearly 9 days of hard work because I was asleep and didn't look at my charts when I had a large SL. With this, I've made back my losses and added a bid on top, but it still makes ...

Dragon Riders GBP/JPY

Long story short, the Swiss National Bank (SNB) kept promising to keep the price floor for the EUR/CHF supported at 1.20. Two days prior to their surprise announcement, they reassured people they would do so, only to turn out completely in an ...

EUR/CHF

Oh dear. The recent move up to 180 seems to have been a bull trap. I had the impression that the institutions and market makers seemed to be raising the gbp/jpy too quickly just prior to the BoJ news, so I expected a decent drop (100-200 pips) but I ...

Dragon Riders GBP/JPY

Testing the 178.00 zone; we've had a initial breach of 178.30/40. Let's see where it goes. It does worry me, however, that this happens right during the BOJ conference. Depending on the outcome, we may even see an immediate bounce back up. I ...

Dragon Riders GBP/JPY

BOJ conference will tell all. That'll be the decision maker as to whether we resume the immediate move up, or continue down for the time being. And then we'll get the mother of all bombs with the ECB. I just hope they don't pull another stunt like ...

Dragon Riders GBP/JPY

Could be. We'll have to breach 178.40/30 first; that's the initial block holding the move downwards. If 178 is gone though, it's back to 177.10/00 and 176.00 after that. How are my decision points holding up to yours? Do you have similar supports?

Dragon Riders GBP/JPY

Nice; more power to you, man. I just didn't have the courage to short the euro with the ECB conference looming overhead.

Dragon Riders GBP/JPY

Agreed. An even better spot would be in the 175s (doesn't matter where; I'll take any long and just leave it there for the next 2-3 weeks and watch the profit roll in). Sadly, with the recent bounce up, there's a good chance it won't happen. I've ...

Dragon Riders GBP/JPY

179 failed to put any form of significant resistance, as expected. BE When there was a slight move down, and my short at 180.100 was triggered. Current short SL is at BE. let's see how far this pair goes down from its daily peak.

Geppy's Geppy Thread (GBP/JPY)

Let's just wait for the dust to settle after the breakout. Missed the opportunity to buy at the test of the new support 178.40/30, but whatever. We can always count on the market to give us another opportunity later. Waiting for a place to reload at ...

Dragon Riders GBP/JPY

For the geppy, a SL of a few hundred pips is good if you want medium-short term trading. For intraday traders & scalpers, however, you can still consistently profit with a SL of 40~60 pips. But I agree that a 20-30 pip SL is a bit too thin unless ...

Geppy's Geppy Thread (GBP/JPY)

Price around 178.70 is the edge of the trendline on the hourly chart. If we do punch through the trendline, 179 will likely give way quickly as well. That area doesn't seem to provide a resistance/support, but more so a stimulus for further ...

Dragon Riders GBP/JPY

Well, this is fun. We're seeing a retest of 178.40/30. At least I managed to lock in profits on the previous short. Who knows. It just might breach the decision point and continue upwards. Still taking another short at around 178.40/20 with tight ...

Dragon Riders GBP/JPY

Same. Locked in a couple dozen pips. I'm still leaning towards a final downward spurt before going to 180 and beyond. The only thing I'd advise newcomers to forex is to take note that a dovish BOJ may in fact lead to a fall in gpy/jpy. In fact, the ...

Dragon Riders GBP/JPY

Don't look only at the 15min; try looking at the 1hr and daily as well for more accuracy.You have to keep in mind that the US bank is on holiday. This means that the USD/JPY is in essence stuck in limbo for this day, and will not move beyond ...

Dragon Riders GBP/JPY