Jan
29
Am I the only one here who cannot find any decent trading setup as of lately? Everywhere I look all the charts look muddy, range-bound and pretty much ugly. My guess is that the market is tight in fear of the more-than-likely 0.50% interest rate cut we will see tomorrow. If the FED finally confirms such move, it’ll be a total of 1.25% cut within a week after last week’s surprise, and that’s probably just too much to handle. Scary stuff, uh?
Quite frankly guys, I have no idea what to expect from the following days…
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30 January, 2:59 am
I can assure you. You are not the only one. I have been scanning my charts twice lately, and heck, still can’t find anything decent to trade.
30 January, 2:36 pm
I dont know Hector, yeatrday’s usdcad break down would nicely fit into your style. The hourly is pointing down, not as nicely as one would wish, but we dont live in perfect world.
Ler me (us) know, what you think of it.
Best regards,
30 January, 2:49 pm
Ok, after watching the video, it is clear now that you were aware of it, just did not take it.
30 January, 2:49 pm
Yes FXPanther, it does look like a worthy setup doesn’t it. I didn’t take cause I was just not liking the overall picture on all the other currency pairs, but I guess perhaps I was paralyzed by over-analysis.
Oh well, we don’t trade in hindsight and at that time I was not confident enough to pull the trigger.
-HECTOR-
30 January, 2:51 pm
Oh yes I was indeed aware of it and saw it unfold in real time - I was just too chicken to hop onboard :)
Sometimes I am overly-conservative in my trading. I am aware of this fact and while I am trying to work on it, it’s difficult to overcome your instincts.
-HECTOR-
30 January, 7:09 pm
Is it normal that the USD/CAD and the EUR/CAD are almost in perfect harmony to each other ? I rarely see two crosses with the exact pullback, etc etc; so I netted a few pips on both pairs simultaneously
31 January, 12:11 am
Euro/usd looked like a breakout candidate with the interest rate cut coming up. 1/2 point was a no brainer, good for over 100 pips, even a 1/4 point cut would have been good for 40-50 pips. Its a shame playing the forex isn’t always this easy.
31 January, 12:55 am
No.. you are not the only one.. it’s been a crazy month… Perhaps Feb will be the beginning of good times again..
david
31 January, 5:54 am
I hope some of you took advantage of that EUR/GBP breakout of the flag formation on the Daily charts.
Would the GBP/NZD on the daily charts quality for the 3 SMA’s?
31 January, 11:37 am
Tom - EURGBP Daily is forming a range between 0.7400 and 0.7500. Perhaps a breakout of the range to the upside might give some good long opportunities, but for the time being this pair has been moving pretty much sideways for two weeks already.
GBPNZD I don’t quite see any setup on it. Please send me your chart mate, perhaps you’ve seen something that I cant?
Norm - The problem with interest rates trading is that you never know how the market might react to it. It’s in my opinion the most difficult news item to trade because you never know what’s been already priced in by the market and what hasn’t. That’s why I just don’t trade when there’s a rate announcement scheduled for the day.
Daniel - becareful entering trades on two crosses related to the same currency at the same time. If the CAD had weakened all of a sudden for whatever reason, you would have scored a double loss. I always recommend to not double-exposed yourself twice to the same currency at any given time.
-HECTOR-