Bund trading

[SanMiguel]

Order in at 127.46 for a quick scalp short
Edit: Bring stops down to 127.50 as it's not reacting quickly enough
Edit: out for 4bps loss.
P/L 18

This may move my way afterwards but I'm looking for quick reactions at these levels (stop should have been 1 higher, heheh). There weren't enough sellers there reacting quickly enough so that's an indication for me to get out.

 

[spy74]

Order in at 127.46 for a quick scalp short
Edit: Bring stops down to 127.50 as it's not reacting quickly enough
Edit: out for 4bps loss.
P/L 18

This may move my way afterwards but I'm looking for quick reactions at these levels (stop should have been 1 higher, heheh). There weren't enough sellers there reacting quickly enough so that's an indication for me to get out.

useful thread SM

how long have you been trading Bunds for?

 

[SanMiguel]

useful thread SM

how long have you been trading Bunds for?

Not as long as some on the forum - I'm doing this more for my self control
This is purely TA based - could apply to ES as well, which I trade in the afternoon.
Usually do FX swing trades, Bund scalping in the morning, ES scalping in the afternoon. A scalp for me is usually around 10bps on the bunds and 2pts on the ES.

If anyone wants to add anything to the thread...feel free.

 

[SanMiguel]

Next level I'm watching is the 127.62 200MA level on the 10min charts and then the 127.75 level.

http://yfrog.com/mk56251179g

 

[pboyles]

Missed it myself as I was out but 127.14 held very well (support from June). Do you look at these longer term S&Rs?

 

[SanMiguel]

Missed it myself as I was out but 127.14 held very well (support from June). Do you look at these longer term S&Rs?

I would but I have support on my daily chart at 126.50-126.20 area.
I actually thought about that long just from looking at the price action but decided it had moved too far for the trade...pity as it was the best one of the day so far.

Oh...one other note, if something moves 3,4,5 ticks in my favour, I try not to take a loss on the trade after that - wish I had been a bit quicker with shorting the high of the day trade.

 

[SanMiguel]

Watching the 127.60 level for a short don;t try this on SB firms BTW unless you have zero spread.
...getting into overbought levels here.

Edit: no sellers coming in yet, looks to be setting up for a bullish move to the 127.75 level, have to wait another 30mins or so to see...

 

[SanMiguel]

Right, I am done for the morning (chart attached).
I shorted the 200MA and bailed for -7 then got back +7 on the long - not really the way I like to trade but managed +18bps for the morning. Had I got filled and also got the long marked then it would have been a total of around 38bps but thems the breaks.
See you tomorrow if anyone wants to chip in to this thread
http://yfrog.com/6fd3ig

Edit: just as we speak I got a short in from the 127.75 level, took 5bps and left the rest to run a bit, hoping for a move back down to 127.60 but we'll see.

 

[JP905]

Good thread. Thanks for your points!

 

[SanMiguel]

Bund does not seem to heavily affected by the NKorea S Korea news so far, be careful though as the US treauries moved up a lot; I had expected a higher gap up.
Level to watch: 128.35 minor and 128.50s 60s
Current range highs: 128.90.
Lows: 127.75

@BundTrader

 

[SanMiguel]

Now check the 128.10 level for possible support (yesterday's close).

 

[SanMiguel]

Trade this one quickly if you're long from 128.10...a quick 7-10 ticks and leave some running if you want:
http://yfrog.com/n4p3ug

128.27 is the most traded area of the day, so can trail any remaining to that target area.

 

[SanMiguel]

128.27 done for the morning as volume is lightening off. Enjoy.

 

[SanMiguel]

chart attached

 

[SanMiguel]

Hit the top of predicted range yesterday 128.90.
Expecting a fairly flat open after yesterday's FX moves.
128.50 and 128.90 only levels to look at so far.

 

[SanMiguel]

128.53 taken for a buy: av. +7.5bps profit.

 

[SanMiguel]

128.90 short taken. av 6.5bps profit.
Move against me by 4bps before selling off. Levels done for the day unless 128.90 breaks to upside, which may happen with EURUSD falling as per yesterday.

http://yfrog.com/3vnolg
Range for today likely 129.20-128.40 but with euro dropping could go higher...

 

[SanMiguel]

Hit top of range yesterday and reversed but what a drop!
Opened up in a really muddy area today with lots of volume from yesterday, unlikely to be much happening today unless news sparks it.

 

[SanMiguel]

Daily chart attached, maybe some downside to the 126.50-20 level - any other opinions?
Will post some intraday levels during the week...

Target 126.50, 20, 00 on the swing trade.
Took a couple of scalps at the 127 level but staying out for now until the Ireland stuff settles, too late to get short intraday.

 

[SanMiguel]

126.50 hit on swing trade, best to take some profits today ahead of US news.