Ifuga's Blog

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Volatility Roller Coaster!


I am wondering whether I should be in this market at all at this point in time! It is ooh so difficult for me to hold on to the reins when things are this volatile! Chopping and changing, tossing and turning.
EUR/USD looked to be moving decently the day before but got back onto the volatility train in mid-morning trade. I have shed most of my capital already but the technicals seem to show it will climb up in the US trading session. So I am buying it at 1.1235 with TP at 1.1305 and hope to hold…
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Volatility, volatility!


What a roller coaster ride! The market was so volatile towards the end of the contest it was all one could do to hang on to the reins. And the news said China was the cause. But one got the feeling that in addition to what might have been happening with the Chinese markets, there were some other many moving parts contributing to the volatility. One is conflicted in calling the volatility experienced towards the end of the contest "good" or "bad." It was good if one had a working system and it w…
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One more time


And off we go again. And I seem to make the same mistakes over and over again! Always behind the front pack. Cant even see the others for dust now. Anyway, the race is on.
USD showed an early weakening but the technical indicators seem to predict a recovery in the afternoon session. So waiting to sell.
See you in the mix
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EUR/USD

The EUR/USD continues to excite, having added another 100 pips in the morning session. However it looks set to shed some of those gains as the market self-corrects again. Could slide down up to 70pips in afternoon trade. Its the volumes that continue to excite as playing in the 100s per move means there are some rich pickings to be made. It wont be surprising to see the winner of this month's competition surpassing a million in profits, compared to the 'measly' 700 thousand or so last month. Let…
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Volume

Excellent volumes continue. The EUR/USD did well yesterday against the background of large volumes which fed a 200 pip move. I cant say that this was a move I could have foreseen. Actually I fell a sucker to the false move down, which knocked off a big chunk of my earlier profits. By the time I realised what was happening, price was galloping away. The market is in the process of correction now, but looks to continue the climb back up around 1900hrs, with huge volumes still pushing price.
See yo…
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And away we go!


And away we go for another month's race! As I pick myself up from the dust for another attempt (dont know what attempt number this is!) at the prize, I noticed quite interesting volumes on the EUR/USD and GBP/AUD pairs. Rather unusual but refreshing on a Monday and on the first day of the month. So I love June!
Congratulations are in order to last month's winners, and good luck to you all this month.
Lets run! Its a marathon
See you around
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Market, oh market!


Here I was, ambling along in the first week of the competition, hunting for pips, aggressing noone, when suddenly in the second week the market has sprung up against me and is now just about to devour me! I know mourning about your loses and how your strategy is not working comes across as boring to others, but I am just stating a fact here; I am being eaten alive. Make no mistake, one is on their own in this game; just you and your charts and whatever strategy it is that is getting you into tr…
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These bulls!


The US NFP came and went last Friday and took all my early profits with it. And some of my capital too as the bulls took the day. I got thrown clean off the EUR/USD pair as I gambled (despite the rule against gambling in forex trade!) that the bears would carry the day after early predictions on US job numbers. Well, the predictions were wrong and I failed on the hills of those predictions. But today is another day!
The EUR/USD pair is currently capped by 1.0965 and 1.1017 but looks likley to d…
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New Competition, hoping for different results


A new competition month and I am looking at whats in my box of strategies to see if there is something different in there that I could use this time around and scale the dizzy heights to stardom. Tired of being in these dungeons. I am concentrating strictly on the dollar this month, but the USD is looking rather choppy in all pairs today.
My technicals are telling me to stay out of the market until the dollar embarks on some definite path, but my fingers seem to have a mind of their own. They …
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Rumbling Rubble

The RUB continues to be under pressure though it posted some recovery in afternoon trade yesterday, with the USD/RUB pair ending the day at around 51. But that recovery seems temporary and as the news suggested, might have been due to the Russian government's intervention. So I see the USD/RUB pair heading for 55 in earnest today. I intend to be riding that wave. Currency support by governments always seems to incense the market to attack the currency, as if to see just how strong the support is…
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