No. of Recommendations: 0
With the FCM brokers MFG and now PFG imploding on fraud with customer accounts, I thought I'd check one of my brokers that is near the bottom of a ranking list. FXCM, a listed company, is in a coiling (triangle) pattern since its IPO. Bust the top is good, break the bottom....not so good.

I have a chart worked up suggesting a continued decline till about $10.25 or so then taking off. Long at the target with stop under the lower swing and is a fairly good R/R with 7% vs. 100%

Moving chart:
http://www.tafool.com/Charts/FXCM071212animate.gif

TAfool
Print the post Back To Top
No. of Recommendations: 0
FXCM Update. Almost to the lower target point. Still looks good!
http://www.tafool.com/Charts/FXCM0720124h.png
Print the post Back To Top
No. of Recommendations: 0
Lower turn target hit for full cash gain of about 8%, or 16% on full margin, so now it's a long to either the upper target of about $20 or the lower stop-out at $9.46.

Big line chart:
http://www.tafool.com/Charts/FXCM0723124h.png

And small bar chart:
http://www.tafool.com/Charts/FXCM0723124hsmall.png
Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0
Hey Ray. I put the latest SPX chart under the SP500 post ( http://boards.fool.com/Message.aspx?mid=30172592 ). Time is here. Maybe just a little pop on Monday but it hit 1385 which was in my range of 1390±6

Short is the place to be and stops can be very reasonably placed
Print the post Back To Top
Advertisement