Currency Trading Dec 11th-15th
- Thread starter Offshore Trader
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City Bound
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Bang goes that setup. short now at 593.
Offshore Trader
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This continued weakness of EUR/GBP is wrecking the short Cable positions. There should be some support around here. Let's hope there is another leg down without EUR/GBP following it
...i'm seeing a new bullish pattern on the hrly now - down to 560 and then up towards tgt line around 650 - usual disclaimers apply!!...will be watching price action closely around 560 (should we get there) to take some vebo profit, if the pattern pauses around that level.
...snap J, was typing that up as you postedjacinto said:
...it's a cleaner setup than the last one. Theoretically greater chance of reaching the target area, but you never know and need to be scanning lower TFs for counter waves, just in case.
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a_gnome
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Morning all,
At last some follow through! Still holding my "VEBO variant" short from 9670 odd from yesterday. About 100 pips on-side as we speak.
Also took another short on a different strategy at 9617, covered half at +30 and trailing a stop on the rest.
For what it's worth (and I'm not trading it personally) my end of year projection on cable is still intact at the moment:
Post 189
At last some follow through! Still holding my "VEBO variant" short from 9670 odd from yesterday. About 100 pips on-side as we speak.
Also took another short on a different strategy at 9617, covered half at +30 and trailing a stop on the rest.
For what it's worth (and I'm not trading it personally) my end of year projection on cable is still intact at the moment:
Post 189
ChowClown said:...the brave wolves will be long about now.....although there is entry tolerance down to 525, which would suit our breakouts nicely!
well, i am just a Coyote, so will wait for around 50
Offshore Trader
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I wish you had been wrong Chow, what has happened to these one directional days on cable??
jacinto said:
guess a brave wolf would have taken it where you mention chow. I wont take the first coyote trade like that, and probably missed the entry altogether. now to look for a price action dictated long.
forgot to add....call me Willy
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City Bound
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My stop is at b/e so I think I'll just let it run, I can't help but feel that the US CPI will be the watershed we have been looking for. The Fed and the bond market are pretty out of sync on the likely direction of rates and this could be the deciding piece of data. One of them has to be wrong, if it's the Fed that's a pretty big admission! It's entirely possible that we could see CPI dispell the remnants of the "one more hike club" in which case we will (hopefully) zoom upwards.
