May version 2.0 FOREX

buck,

Looks like a falling knive as does most of the USD charts, but the RSI and CCI is so seriously oversold it is worth a gamble down here.

You see the 4 hr chart on the Lb.USD? CCI is 183, RSI is 76, thats on a 4 hr chart. It hasnt been this high in a very long time, the move today was just amazing, man I wish i were on the other side of it.

I would choose the Yen or the CDN or the EU versus the LB or AUD for sure.

I was reading tons of USD bashing all day long, talk about new long term trends developing blah blah.

To me if after the holiday that the market starts selling off, the USD will come back just fine.

Its amazing how terrible the USD is doing, just brutal.

Man I should have put in a limit buy on that LB.USD, I didnt know it would fall 300 pips last night, I would have been pleased to get out for a nice gain.

Now back up on the trade, but 1.55 would have made about 800 pips.

Back down on the trade again.

My break even is 1.562 or so..it sure is a bottle rocket.

If the US markets get smacked I will get a nice move I am sure, if it bounces on these employment numbers, the reverse will happen and that LB pair will move over 1.57 again and quick.

So much for the LB weakness, right back over 1.57.

I read that their debt outlook was moved to negative and all it did was knock the currency 2 cents off year highs, what a joke.

And of course the US markets didnt sell off much, I should have taken a break even and ditched the trade. Now it has move 100 pips in the last hour.

Now back to 1.58

So much for a down US market and the credit rating of your country being put to junk to stall your currency.

USD retreating against everything yet again.

Sounds like the comments from the Treasury Secretary caused the USD to get hammered this afternoon and for me to get my butt kicked.

Strangest thing today, I turn on my FXDD Meta application and it was gone off my computer, then I try to get it back and my AV system says there was a virus.

So I had to reinstall the program and hope the virus isnt in the file folder.

buck,

Did you get out of that CD trade? The USD keeps falling and falling and falling.

Regarding that short it has two resistance points which is good.

134.30 is first resistance, it is a quasi triple top going back to March, then there was the breakout 137.40 as another resistance point.

RSI on a 4 hr is a little early, CCI is 212 on a 4 hr which is good, but who the crap knows, it doesnt stop the LB or any counter US pair having it be even 500..lol

The +DMI isnt that high on a 4 hr, not really overbought, the -DMI is very low at 5.45, nowhere near to cross the +DMI or the ADX.

Man you got out luckily, US.CD down to 1.12 today, I wonder if the USD will ever bounce, it has been tanking for a month straight, just a spiral down down down, and against the LB it has been getting killed for THREE months with little breather.

My account is in serious jeopardy already, and to think I missed profiting on this trade by 2 pips..

buck, sorry for not replying back sooner. I tried to average once, but of couse, the minute I did, it started right back up and I bailed after losing 80 pips. I've got to really figure out reading and understanding the DMI lines. Also looking at longer time periods on the charts. I think when I got in that one, I was looking at 15 minutes, and thought I could get in and out with a few pips. I sat here and watched for about an hour, and that's what I meant when I said it never went down. I would usually just get out, but this time (of course), I decided to let it ride, and hoped I would wake up and it had hit my limit. I fucked up by not setting a stop. Like I said, I really need to learn the charts better, and go from there. You guys are all a great help, and I appreciate the time you spend. Guess it's gonna have to be like golf. I'm going to have to get rid of my bad habits, and re-learn my thinking on forex. Now, just where to start?

Hey Wall i see the thread had been bumped up....WHYT come back or something?