Forex Day Trader's Thread

[N Rothschild]

the what

 

[tripleogstar]

fed speaks about the state of the economy and inflationary pressures etc. gives an indication of interest rates. market places a lot of importance on this actually

 

[Pippy5000]

Have been short Cable since 1.501 hoping for a major tank when the beige comes.. stopped at $0 because it could go the other way pretty hard too..

 

[N Rothschild]

2pm ET coming out..im just ready to short EJ tbh

 

[Pippy5000]

EUR/JPY has given 2 major false breakouts of fib resistance and support in the last 24 hours.. I'm sick of it.. I just want these Cable longs to jump ship and I'll be in the money..

 

[N Rothschild]

yeh i got ***ED by it over night. just broke support caught my sell sotp right on the ****ing money before it turned went up stopped me out and then tanked..talk about unlucky

 

[N Rothschild]

either way if the book comes out negatively will be flight to dollar and yen

 

[Pippy5000]

I banked 40 pips on Cable and am long on the EUR/JPY dip..

 

[Pippy5000]

no, negative is already baked in.. it could cause a tremendous rally if the data is good.. only HORRIBLE data will send Yen crosses down.. this could be the beginning of a move back to 134

 

[Pippy5000]

S&P totally flat in anticipation.. I'm excited.. should be some fireworks..

 

[N Rothschild]

yalk about a non event

 

[Pippy5000]

let it sink in a bit.. it's a big report.. market is figuring out what to do but so far it seems be positive for stocks and EUR/JPY.. I'm up 25

 

[Pippy5000]

aaaaaaand stopped out at $0 .. yes that was really lame..

 

[Pippy5000]

At least currencies and equities are moving together again.. at least I know what the hell is going on..

 

[Pippy5000]

Watch out Gene.. Look at the candle about to be posted in EUR/JPY

 

[N Rothschild]

time scale? tbh im sitting out for a bit markets are all over the place with earnings

 

[N Rothschild]

is usdjpy can get up to 9970 relativly soon could be a potential long in there i think..altho my head is up my **** 2day , wot u think pippy

 

[Pippy5000]

Look at the EUR/JPY dailies.. notice the failure to the downside which turned into a higher high than the previous day..

Also, note the above 850 close for S&P 500 .. 1% up.. Japanese might not follow but I think they will.. Buy EUR/JPY on a dip..

 

[tripleogstar]

assuming JP Morgan report good figures tomorrow, i think it is a good time to buy eur against jpy or usd. I am considering going long on eur/usd. I think short sellers will start covering in anticipation of a better risk environment triggered by a stockmarket rally (if JP numbers are good/better than expectations). However, we do have Eurozone CPI and industrial production figures at 10:00 GMT tomorrow, and traders may be expecting weak numbers, similar to that reported in the u.s yday. Also have U.S housing starts and initial jobless claims at 13:30 GMT. So i think the best way to play this is to wait for CPI and industrial production figures and see how good or bad they are. I personally think that the market has priced in weak CPI figures and so a number which is in line with expections or better will cause a pretty decent rally on the euro, particularly against GBP. I just think that there will be very little action on EUR/USD overnight so I will not be putting anything on at the moment, pretty difficult pair to judge at the moment.

 

[Pippy5000]

EUR/USD is boring as hell..

I feel long EUR/JPY .. I'd like to grab it at 130.6 again.. but I'll grab a buy stop at 131.6 too..