Currency trading (Oct 16th > 20th)

[Offshore Trader]

Short at 704

 

[Uphios]

Uphios,

the retraces to the up-moves have been very weak, so that may be a good sign.

would prefer the retrace to happen this morning, and the us session to recommence the up-move.

I hope so. Shot myself in the foot yesterday. 1.8635 was looking like a good short entry on Monday night. Yesterday morning I had to go out and came back just in time for 9.30 news. Saw .8642 and jumped in short. I then re-worked my chart to take account of the overnight and it was now indicating long. Then, rather pig headily I stuck to my position and hoped it would fail, it didn't. Still short cable and can't find a reason to be.

 

[DAVIDB75]

i exited my early long at small profit, but reentered long at 699, the pips for the risk calculation favours long
and my system is long anyway. 74% cahnce of hitting 755, 58% chance of hitting 678 , ie more pips for the risk (according to my framework )

 

[trendie]

I hope so. Shot myself in the foot yesterday. 1.8635 was looking like a good short entry on Monday night. Yesterday morning I had to go out and came back just in time for 9.30 news. Saw .8642 and jumped in short. I then re-worked my chart to take account of the overnight and it was now indicating long. Then, rather pig headily I stuck to my position and hoped it would fail, it didn't. Still short cable and can't find a reason to be.

know exactly what you mean.
I no longer accept signals against the broader trend - have stopped trying to finesse the markets.

now have more time to spam other threads and wind them up - meantime on the sidelines!

 

[ChowClown]

Still short cable and can't find a reason to be.

...cable on the 240 looks interesting for shorts. Solid resistance around 735 with 200ema at 750 - stochs rolling over too.

 

[DAVIDB75]

i exited my early long at small profit, but reentered long at 699, the pips for the risk calculation favours long
and my system is long anyway. 74% cahnce of hitting 755, 58% chance of hitting 678 , ie more pips for the risk (according to my framework )

ps if 693 is breached i would be uncomfortable with long

 

[KTD]

Hi everyone, I'm new to this, favorite cross is the GBPUSD.

I'm short from 1,8700, expecting the CPI from the US to be at the consensus, or even better, boosting the dollar further, - aiming at a non greedy profit of 30 pips if possible.

 

[Uphios]

...cable on the 240 looks interesting for shorts. Solid resistance around 735 with 200ema at 750 - stochs rolling over too.

Nothing on the 240 for me. It has to get to to around 1.8575 before it it even gives me a short signal at the moment.

 

[Uphios]

Hmmm. Posted that chart and then found a line I had missed. A little better than before. A break to the downside that breaches around 1.8632 targets about 1.8517. To be confirmed if and when it breaks the highlighted line.

 

[ChowClown]

Nothing on the 240 for me. It has to get to to around 1.8575 before it it even gives me a short signal at the moment.

Interesting chart. So the fractal low on the 15th hasn't over-ridden your next short target level....is that because the angle of the line when connected from there to the next fractal, would be too steep? I'm assuming there will be another fractal printed on the close of the latest 4hr bar, if price doesn't get aby lower than the last swing low, a few bars back...

 

[wasp]

different views

Still got this on my screen and looking for some more downside it we break 700 properly...

 

[dc2000]

will be looking for a better price later to jump back on long 619 would be nice but 584 better on the overnight

 

[Uphios]

Interesting chart. So the fractal low on the 15th hasn't over-ridden your next short target level....is that because the angle of the line when connected from there to the next fractal, would be too steep? I'm assuming there will be another fractal printed on the close of the latest 4hr bar, if price doesn't get aby lower than the last swing low, a few bars back...

Wow, Chow! You can speak a language I don't understand!

I am only using the fractal's to highlight relevent highs and lows. Then join the highs to give a downward sloping line and the lows to give an upward sloping line. If the line is breached and confirmed by the next bar opening above/below the line then a trend change is confirmed. Latest 4 hr bar should only print a fractal if the following 4 hr bar doesn't get any lower.

 

[ChowClown]

i know, clear as mud, as usual! I know where you're coming from.

 

[Uphios]

will be looking for a better price later to jump back on long 619 would be nice but 584 better on the overnight

I don't know where you get your targets from DC, the astonishing thing is I can often get the same general target area as you, only 8 to 12 hours later!!

 

[neil]

pick your time frame

just to pass the time

Some views of the GBP on different time frames and how one might trade.
The 5min. overnight breakout if viewed between midnight and 7am would whip you about albeit the first pin bar would keep you in. Another view I saw elsewhere on tis board was that the Asian overnight should extend its' closing range from 7am to 8am? The hourly and daily charts may give fewer but more productive trades depending upon ones' approach.
So - are you a 5 minute person or do you prefer trading longer time frames. Even if you trade both is their one time frame you favour overall?
Back to the marking.
:|

 

[KTD]

Hi everyone, I'm new to this, favorite cross is the GBPUSD.

I'm short from 1,8700, expecting the CPI from the US to be at the consensus, or even better, boosting the dollar further, - aiming at a non greedy profit of 30 pips if possible.

Added a short @ 1,8710 - target 1,8680 = 30 pips, total with prior = 40+30=70

correction to prior short position, 40 pip gain target.


Motivation is still the CPI numbers from the US. Short Range trading.

 

[wasp]

Last edited by neil : Today at 11:35 AM. Reason: spellin'

What do you teach by the way Neil? :cheesy:

 

[ChowClown]

hi Neil, when not trading the 5-8am BO, i look for set ups on the 60s and 240s. Prefer a more leisurely pace.

 

[neil]

'kinell waspie

Last edited by neil : Today at 11:35 AM. Reason: spellin'

What do you teach by the way Neil? :cheesy:

I teech EENgleash, loosing at tradink, mattermatics and lore

spellin' (notice the apostrophe which indicates a missing letter) :cheesy: