Euro/$---GBP/$ Where now?

[User]

Last few 'two good till cancelled orders' that I sometimes use have been giving flat results.

I'am thinking of putting on two today before the US Payroll figures, no doubt they will definately provide todays moves on the forex.

Lets wait and see

Which way is your T.A pointing today Buk?

 

[Buk]

I'm short both these pairs, (position) and aint seen nothing to adjust my stance just yet....cranking the stops down a tad to lock in more pips & waiting for the sparks......I'm not playing pre - news today, plenty of time to climb on board if the moves are genuine imo.

 

[Buk]

strong numbers (above consensus) and I guess they'll interpret it as a sign of "recovery" ...but will undoubtedly raise fears of rate hikes in the shorter term.....still a lot of soggy washing Stateside imo, but what do I know!!

 

[jonnyy40]

Can I ask how long your position trades last on average?And do you ever pair trade with commodities?

 

[Buk]

these were executed Monday (euro) & early Tues (cable) Jonnyy....I simply focus on these two only & no, don't pair them. I play contra moves intraday (according to tech levels/signals), but my main focus is playing the 'moves' with tight entry stops & trails......stops today are set at the hourly trendlines (maybe a little close for comfort with euro), but we'll see.....

I normally would have traded a break of the channels today, but any analysis I looked at seemed pointless (personally speaking) with the hoo haa these numbers generate, so decided to take a watching brief till 1.30ish!

 

[Buk]

hmmm, houses still intact so far!!.....see how strong the bulls are for the scrap huh?.......

 

[Buk]

8375....2360, and I'll concede ground to them on this run!!!.....

 

[Buk]

........give em that one!!.....good scrap tho........

 

[jonnyy40]

I 'guessed' the direction but got stooped out on a suicide stop!It'll take me a month to make back what I lost.

 

[Buk]

sorry to hear that Jonnyy......

 

[jonnyy40]

It's poised again but I'm too shell shocked to join in.

 

[Buk]

euro flirting with resistance here....a pop to 475, could see it re - test that level if it has legs.....the bears will be sniffing tho if it doesn't crank here.

 

[Buk]

335/355 offering good short term supp, see how it reacts on a pop back here....signals are certainly showing positive.

 

[Buk]

hmmmm, thru the 2400 number & the 240 trend line....shame it's a late Fri pop....don't think I'm gonna play this one, needs a breather me finks!!....leave this little dance to the braver souls.

 

[nefariousbaffler]

At 425 right now.....it doesn't seem to be slowing down

 

[Taz]

Cable losing steam or will it hit $1.85 today ?

 

[Buk]

looks like it's taking a breather Taz....ema's are cuddling it (on the 1min) & slightly positive signals, (5 & 15) still a little short of the hourly line.....see how the channel pans out...at least there's a 'tradeable' each way trench forming.

 

[Taz]

I am currently long at 8443, Buk; 1.85 looking as if it will be a struggle at the moment............

 

[User]

Did go into euro on the 'two good till canceled order' as I was suggesting to all you guys.

Just seconds before 1.30 UK time:

Long level: 12200
Short level:12170

Long got filled, shocking spike!

After 1.30 UK time:

Opened Long euro June at 12280
Opened Long Sterling June at 18174

Closed spot value minutes ago at 12409 (209points+)
June contracts planned to hold till next week but the winnings were hard to resist, so took them of the table too.

Closed Euro June at 12382 (102points+)
Closed Sterling June at 18308 (116points+)

'Buk' I was saying to you yesterday how I haven't traded much forex this week. For trading forex on only 1day of the week this must be one of the biggest daily gains! Oh I don't even regard myself as a 'day trader'

But what a end to a quite personal trading week on forex!

Feel like jumping around the house--------427points in 2hours!!!

Can't control my excitement!!!!!!!!

 

[Buk]

just keep your stops tight mate!!.....a bit of a lull usually at this time of the day, plus it's had a sharp sprint this afternoon!....good luck with it......that's me lot till the crack of dawn Monday....see where the land lies then.........