FX Trading: week 8th - 14th July

Priceman · Jul 8, 2007

Hope you don't mind me starting this week chaps...

http://www.dailyfx.com/story/topheadline/Strong_Non_Farm_Payrolls_Will_Help1183738853717.html
http://www.dailyfx.com/story/bio1/Non_Farm_Payrolls_Was_Strong__But_1183756509781.html
http://www.forexfactory.com/calendar.php
http://www.bloomberg.com/apps/news?pid=20602081&sid=aNspY2Z5R0UU&refer=benchmark_currency_rates

As I mainly trade cable that's what I'll show and pen my thoughts. Don't mind where it goes as long as it's not complicated and trends smoothly! I don't call direction nowadays and so I'll just post my chart with key levels (well I think they're key)

If the downside continues then the 161% extension of last weeks move (2.0206-2.0058) will be around 1.9970. The rebound after the NFP upwards though went back upto the 50% level at 132, will it continue up on Monday? UK PPI will show us the way. The extention also coincides with a bigger fib number too... the 1.9621 - 2.0206 move at 1.9980.

Good trading one and all

jacinto · Jul 8, 2007

Priceman said:
As I mainly trade cable that's what I'll show and pen my thoughts.

Good trading one and all

hi priceman, hope the sprog allows you to sleep :cheesy:, otherwise, start trading the yen.

a view on euryen. IMO there is a move north still to meet its target @ 169.65. will be interesting to watch pullbacks to 167.50ish for entries. I am still away, and wont be returning to my platform until Tuesday afternoon, so any entries in my case will still be paper.

good trading all

j

Atilla · Jul 8, 2007

jacinto said:
hi priceman, hope the sprog allows you to sleep :cheesy:, otherwise, start trading the yen.

a view on euryen. IMO there is a move north still to meet its target @ 169.65. will be interesting to watch pullbacks to 167.50ish for entries. I am still away, and wont be returning to my platform until Tuesday afternoon, so any entries in my case will still be paper.

good trading all

j

Good evening everyone,

Having looked at the weekly, daily and the 4 hourly charts, my sentiments are that we will have an upward movement this week.

Last week retreat seems to have found support higher than I was expecting. I'm not sure if we still may have a test of $2.00 or not. Pretty confident it will test $2.00 but not this week.

I think we are going to have more of this shuffle between $2.00 - 2.02 first. In summary I'm a little mixed up with an upward bias to 2.02 again.

Good luck y'all...

Phil Mibbutz · Jul 8, 2007

Evenin' all. My money (what's left of it) is on a morning retrace towards $2 before any more upwards movement.

fibonelli · Jul 8, 2007

a newbie view on GBP/USD

+ive: ranging with upward bias pattern

-ive: "puppies" on the stochs
very bullish reading in the CME futures
US$ index close to historical supp @80.

expectation: ranging between 1.992 and 2.02.

Naturally the market will validate or invalidate this theory

PKFFW · Jul 9, 2007

Ok, I'll give this a go.......

Weekly is in a steady uptrend....making highs not seen since Feb '92
Daily has retraced to my perceived support line of around 2.0064 which coincides with fibo 23.6 producing a spinning top.
4hr shows a clear bounce off that support and fibo combo with price producing a hammer.
1hr price is struggling to break through current downtrend line.

So, I'm going to say a possible test of support at around 2.0064 again before another upward move to test 2.0200 by mid week.

I'm not completely kosher on fundamental news yet so my analysis doesn't take any pending news announcements into account. Having said that, I'm going out on a limb and saying new highs will be made by end of the week or possibly early next week.

Cheers,
PKFFW

jacinto · Jul 9, 2007

ok, short euryen 168.17, target 40 pips and stop and reverse long at that level.

Hook Shot · Jul 9, 2007

jacinto said:
ok, short euryen 168.17, target 40 pips and stop and reverse long at that level.

http://www.dailyfx.com/charts/Chart.html?symbol=EUR/JPY

jacinto · Jul 9, 2007

Hook Shot said:
http://www.dailyfx.com/charts/Chart.html?symbol=EUR/JPY

im looking at the chart, but dont understand your point
my dear HS

edit: unless i did not explain proper. i am short 168.17, exit and reverse long at 167.77

zuke · Jul 9, 2007

Morning all.

On cable, I have a short signal and am just looking for an entry at the moment. On Euro/Yen, I am :

SHORT (7 lots) - 168.32
SL - 168.55
TP1 (2 lots) - 167.52
TP2 (3 lots) - 167.32
TP3 (2 lots) - 167.02

Good trading all!

EDIT..now got entry on Cable: SHORT (3 lots) - 2.0118, SL 2.0148, TP 2.0068

trendie · Jul 9, 2007

EURJPY tumbling!
doesnt look like its gonna bounce either.

zuke · Jul 9, 2007

zuke said:
Morning all.

On cable, I have a short signal and am just looking for an entry at the moment. On Euro/Yen, I am :

SHORT (7 lots) - 168.32
SL - 168.55
TP1 (2 lots) - 167.52
TP2 (3 lots) - 167.32
TP3 (2 lots) - 167.02

Good trading all!

EDIT..now got entry on Cable: SHORT (3 lots) - 2.0118, SL 2.0148, TP 2.0068

Stopped out on my Cable short for -30! Even though PPI was so bad!! Go and figure that one out Fundies!!

Moved my stop on the EUR/JPY trade to breakeven.

Crap Buddist · Jul 9, 2007

By the power of Grey Skull..... Gone Short

gone short cable 2.0155, managed to bagged + 32 on the run up, so o.k. start to week.

stop on this short at 2.0178

Crap Buddist · Jul 9, 2007

Weird.

Something weirds happening, when i post in this forum none of the posts show, unless i go out then back in , anyone else getting that ?

Edit although to make a liar of me that one (this) was o.k.

a_gnome · Jul 9, 2007

Crap Buddist said:
Something weirds happening, when i post in this forum none of the posts show, unless i go out then back in , anyone else getting that ?

Edit although to make a liar of me that one (this) was o.k.

Hi CB,
I'm getting strange behaviour on T2W this morning - often not getting the page that I click on or having to refresh in order to see any posts so it's not just you.

Crap Buddist · Jul 9, 2007

a_gnome said:
Hi CB,
I'm getting strange behaviour on T2W this morning - often not getting the page that I click on or having to refresh in order to see any posts so it's not just you.

Cheers, ag. ive swapped to basic i.e browser, see if that helps...

trendie · Jul 9, 2007

Crap Buddist said:
gone short cable 2.0155, managed to bagged + 32 on the run up, so o.k. start to week.

stop on this short at 2.0178

good move, CB. I saw the upmove on Hulls, but passed cos I see the main move as down, so looking to short at 2.0170! (lovely red dots as per jacintos NRTR_WATR)

I seem to be missing out on some good counter-trend moves, but hey, that would make me a counter-trendie.

2be · Jul 9, 2007

trendie said:
good move, CB. I saw the upmove on Hulls, but passed cos I see the main move as down, so looking to short at 2.0170! (lovely red dots as per jacintos NRTR_WATR)

I seem to be missing out on some good counter-trend moves, but hey, that would make me a counter-trendie.

Got short at 20157 when it tsted the second time SL177, I got an indication of todays H being 20170, lets see whether it will be so

Hook Shot · Jul 9, 2007

jacinto said:
im looking at the chart, but dont understand your point
my dear HS

edit: unless i did not explain proper. i am short 168.17, exit and reverse long at 167.77

OK, I confess, I was being a little bit naughty
I thought you might have been a wee bit quick on pulling the trigger ...poosibly drawn in by dip to 810. The chart and stuff was a childish prank..
Apologies
HS

Offshore Trader · Jul 9, 2007

Morning all. Long cable and short EUR/JPY. Cable is constrained by the double top around 20160 although I think that it may well break this to move considerably higher. If wrong I have a reasonably tight stop at got a goodish entry this morning at 25.

The EUR/JPY is supported by the weekend gap and an hour close below 16812 is required to open up the downside.

FX Trading: week 8th - 14th July

1. Where's cable going? 2. How many pips do you want this week?

More up for cable

Down for cable

Don't care about anything

10-50

50-100

100+

Don't care as long as it's positive

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