Currency Trading Dec 18th-22nd

[Offshore Trader]

That little move higher might be the last hurrah...............

 

[Marwan2010]

USD/CHF is still pressurizing the base, so I would not discount any more upside for cable

interesting observation - 4h chf has broken the 200 ema, and you have a bearish RSI and CCI divergence,

never ever looked at it from this angle! - thanks offshore

 

[ChowClown]

Daily chart, how about resistance around 670 to set up the next leg south?

Daily WW chart update, in case we've seen the top for the next leg down. Very clean pattern so far.

 

[Marwan2010]

Hi Chow - thanks for the input, first target is 30 pips, taking incremental profits, than targeting 200 ema on 30 min chart, with a trailing stop each 25 pip move

banked 30 pips
waiting for the final one run, moved stops to entry, than trailing

 

[Marwan2010]

JPY waiting for a 123 on 30 min chart or a break of the lower trendline for a short entry.
4h u have a macd div and triple top - any views?

taking an aggressive view
short jpy at 118.25, stop 60 pips
swing trade

 

[Offshore Trader]

It's a shame there was no follow through from that sell off. We might have seen the action for today but a break of 9570 could yield a lot of points.

It's been very messy since the figures. Think I'm going to call it a day

 

[neil]

It's a shame there was no follow through from that sell off. We might have seen the action for today but a break of 9570 could yield a lot of points.

It's been very messy since the figures. Think I'm going to call it a day

Sometimes it is a good idea to stop and just observe for a while. The market will always be there.

 

[coolTrader]

taking an aggressive view
short jpy at 118.25, stop 60 pips
swing trade

nice one

 

[jacinto]

morning all

bull flag apparently broken. expect pullback to 9665 for a continuation of move up.

will consider price action dictated longs from that area.

good luck today.

edit: there are 2 aspects to this break......the positive, is a daily close above the flag.....the negative, the daily close is below the swing high of NFP.

 

[Marwan2010]

taking an aggressive view
short jpy at 118.25, stop 60 pips
swing trade

closed jpy trade for 17 pip gain, not happy with the rising bottoms
may reenter on a break, at the mo 2 risky to stay in the trade as it could go either way.

 

[coolTrader]

morning all. lots of data this am. otherwise we would have been at 9789 by now. but... BOE mins and all the others will wait then. I wonder what prompted the sharp buying yester of Eur and GBP.

 

[a_gnome]

Morning all,
Still holding long from yesterday at 19540 with stop at now at 19666.

My end of year prediction has now been invalidated by yesterday's move and can safely be ignored. Let's hope we see a continuation of yesterday's trending behaviour.

 

[trendie]

what happened yesterday? 8-10am
was it a news event or sumfink for the morning?

got home last night, to see a massive move up, and a nasty loss for me.
( was in down-mode looking for cheap shorts, and got skewered when taking a short)

 

[Marwan2010]

what happened yesterday? 8-10am
was it a news event or sumfink for the morning?

got home last night, to see a massive move up, and a nasty loss for me.
( was in down-mode looking for cheap shorts, and got skewered when taking a short)

I think it may be related to the Vodafone deal,
this resulted into a huge volume on GBPCHF - than i belive lot of swiss buying of gbp
guess with thin holiday volume, some big orders will move the market

 

[Offshore Trader]

Not a very promising start to the day. Just drifting around but enough to stop me in and out of a long position. Looks like cable may have look lower...

 

[wiseass]

dont you just hate it when you move a stop loss down a bit and miss out on a move
*grrrr!!*

 

[Offshore Trader]

The difference between the Christmas period and Bank Holidays is that banks are at least officially open and therefore will have customer orders to execute. Whilst there is obviously considerably less volume at Christmas time the fx market is still enormous and so gaps are unlikely, except as normal after figures or other major news.

The stock market and associated derivatives are completely different as they tend to be dominated by real orders, as opposed to speculators (a fine difference I know!) and as such tend to be very quiet over the Christmas period.

 

[neil]

Former wannabee Trader ?

dont you just hate it when you move a stop loss down a bit and miss out on a move
*grrrr!!*

Have a coffee break -

http://www.allfunnystuff.com/content.php?choice=prev&iid=402&cid=32

 

[JTrader]

Thanks OST

I whipped my post away and stuck it on my economic news release thread!

 

[City Bound]

Ok, now I'm getting more convinced. This could well become a range, between the 460 - 730 areas, in which we could remain for quite a while. I doubt we will see a move significantly higher or lower without a good deal of consolidation first.