Diary of a swing spread better

[Slapshot]

Well that was amazing to watch! 100 points in 6 mins!!

 

[chindl]

quarter point with possibly more on the cards in Aug if CNBC is owt to go by! Anyone get any? I got a measly 11 points, referred to dealer, which I am not going to knock on such a major news announcement!

 

[Slapshot]

Anyone fancy a quick short?

 

[chindl]

Got Fins news is crap, about as realtime as Big Charts. Not even put the announcement through yet!

 

[Slapshot]

Anyone follow Cable? 120 point hike in the last 15mins!! That thing is wilder than the Dow when it gets going

 

[chindl]

Not half mate, cable goes crazy on this and the NFP, as it is actively traded on NFP whereas the Dow is not as such. NFP next Friday.

 

[chindl]

BTW - I will now probably buy either €, £ or CHF at some point once it's settled, as I do believe a strong day today will make it a good intermediate term trade.

 

[chindl]

Right - after the carnage, where do we go from here, should be volatile enough into the close now to pick up some trades, the right ones of course... BTW Slaps, I took that quick short to the hammers, got out at the second hammer as I thought it would prove the support level. We eventually moved down to a DOJI before the reversal.
Good luck all.
Chris

 

[Slapshot]

BTW - I will now probably buy either €, £ or CHF at some point once it's settled, as I do believe a strong day today will make it a good intermediate term trade.

I learnt my lesson the hard way on announcement days which is why I sit back and just watch what happens. It really is quite unbelieveable sometimes.

With regard to FX, I've been looking at a couple of strategies but nothing to write home about yet.

 

[Slapshot]

Triple top on the Dow?

 

[chindl]

The volume is quite telling on each of the recent tops, quick jump in bearish vol to pull it back. On each occasion. Ther's a couple of inverted hammers that are holding as mini support at the moment and than a large hammer with the tail sat right on 50. Needs to break that I think. Theres also a nice DOJI on the reversal that came after the big move north on the minutes. If we take 50 then that is a potential target.
I'd post charts but can't do it quickly enough..
Chris

 

[chindl]

Off the other way. ha ha....

 

[Slapshot]

Well the quick short off the triple top failed, proving I suppose that chart patterns don't always work

 

[hungvir]

Hi guys,

I came back too late and miss the action. But even if I had stayed home I am not sure if I would have caught that 100 point move in just 10 minutes. Don't bother to trade now as if I am wrong there's no time to put it right.

Hope you're doing well!

Pboi,

Welcome back! I look forward to hearing about your strategy development.

Slaps,

Where do you get data for the DAX from?! And how is it different from the FTSE in terms of volatility?!

Thanks a lot,

Hung

 

[hungvir]

Well the quick short off the triple top failed, proving I suppose that chart patterns don't always work

Slaps,

I did not see a nice and clear tripple top there. And we kept seeing higher high (sort of) and higher low. It's still the case of the trend is your friend.

Cheers,

Hung

 

[chindl]

There's a nice supporting trendline holding it all together at the moment, comes right off that first large candle after the minutes.

 

[hungvir]

On a longer time frame, my inside day strategy would have worked wonder today. The rule is placing stop buy and stop sell at the high and low of the inside day with 10 point stop loss and 30 point profit taking limit order.

 

[hungvir]

And we're just about 100 points away from the border of bulls and bears. I think the bears got a big squeeze today and I doubt that they will be there 100 points from now to drive the market down significantly.

 

[hungvir]

Chris,

Looking back at the daily chart, it looks like there had been something that Nison would call 'pregnant bars' or something. I know the move today has been news driven mostly but what would the pregnant woman pattern would tell us?!

Thanks a lot,

Hung

 

[hungvir]

I'm out now, stopped out for a loss of 26 pts, the loss is not what bothering me though, the reason i placed the trade is still have to work on that trigger finger of mine.

the good news is

If i dont trade again this week i'll still end the month on a decent % increase.

Also i've noticed that i'm taking about 50 -60 pts out of my winning trades using a trailing stop when i could have had plenty more so for next month i'm gonna be placing orders to close half my position at 100 pts profit, this should increase returns further

at the moment i'm 21.5% up on april.

if your trading tommorow good luck all.

Eleft,

You should be glad that you took the loss as planned. It's been a whopping 215 point jump today. Did you go long at all?!

Cheers,

Hung