FX-2007: Feb19th > Feb 23th

[29Investments]

are there any means of identifying where these stops are?
is there an equivalent of Level-2 for FX?

Not any kind of complete picture, you can only get L2 on the Brokers own book.

As FX is not exchange based the only complete tool is EBS but I think this is still just interbank.

FXCM have an Order Board page where they post orders they have heard about

 

[jacinto]

a lot can happen in 6 minutes, but...

cable: on the latest 30-mins bar to close at 8am, a decent pin-bar-doji is forming rejecting the upside??

(have taken day off so I can real-time this pin-bar stuff)

hi trendie,

the good: me played the pinbar :cheesy: 2 entries....81, and 85 with an amazing 10 pip stop
the bad: exit prior to the news for -1

reason for taking....will post a chart
reason for exit
1)chart will explain
2) conflicting evidence for a long arising
3) trader in doubt, trader prefers to miss a profit than take a loss

Think from a trading perspective is a good decision
In hindsight, profitwise, a mistake, left profit on the table, and the stop was never challenged.

will post quick and dirty chart to explain when I edit.

j

Edit: chart posted. comments are welcome, both on the analysis, but more so on the psychological side of it........as long as you dont CYOF me :cheesy:

 

[wasp]

Oooh! The 15min has my favorite setup on it... The Battersea! Look out for the pig!

 

[trendie]

saw the doubley-boubly too, but didnt post it earlier!

EDIT: just in case anyone asks:
Stochs: Jimmer slingshot. (variant of LBR Holy-Grail)
Hull-MAs: 15 (as per wasp, except he uses 12!), and 55-HMA.
and Bolly-bands, at 21,2 and 21,3.

 

[City Bound]

Wow. This is turning into a real stinker. If it goes tits up today i'll have the full set for the week!

 

[trendie]

seems like a reverse doji, ie; rejection of the downside as well, only stronger.
broke overnight support line at approx 9555, but got rejected sharpish.

 

[leovirgo]

Has anybody used VWAP on fx futures? I was just stopped out of my swing short from 580 yest. For an agressive scalper, a short can be covered when it went past lower band at 1.9737. You can see level II for BP futures.

 

[trendie]

looks intersting leovirgo;

is vwap a formula that can be loaded into MT-4, for example?
however, there are some threads that question the use of volume on FX, due to there being no single exchange, as per wasp and 29Invetments posts today.

keep posting your perspectives.
( we do like to have a varied set of views here )

 

[City Bound]

seems like a reverse doji, ie; rejection of the downside as well, only stronger.
broke overnight support line at approx 9555, but got rejected sharpish.

Having said that, the last three hours makes a HUGE pin bar.

 

[trendie]

Having said that, the last three hours makes a HUGE pin bar.

certainly does! (checked on 4-hours)
is convincing close below 9555 a short then?

 

[29Investments]

Has anybody used VWAP on fx futures? I was just stopped out of my swing short from 580 yest. For an agressive scalper, a short can be covered when it went past lower band at 1.9737. You can see level II for BP futures.

I used to trade BP futures on Tradestation - I loved the platform and found the L2 useful.
I did well on it during quiet markets, taking advantage of the tiny spread but found that it was just too scary during busy times, the future spiking far more than the cash.

 

[City Bound]

certainly does! (checked on 4-hours)
is convincing close below 9555 a short then?

Quite possibly, espetially when combined with the double top. I'm already short because of my BO so any extra help to the downside is willingly accepted.

 

[ashoksagar]

Quite possibly, espetially when combined with the double top. I'm already short because of my BO so any extra help to the downside is willingly accepted.

I am long for the low 9700s, till we hit resistance there.

 

[leovirgo]

looks intersting leovirgo;

is vwap a formula that can be loaded into MT-4, for example?
however, there are some threads that question the use of volume on FX, due to there being no single exchange, as per wasp and 29Invetments posts today.

keep posting your perspectives.
( we do like to have a varied set of views here )

Hi trendie, it should be. It's a very simple formula. What you said about volume in fx is also true. However, BP is a CME futs so it comes with volume. What I normally like about vwap is the market's tendency to pull back to the mean(vwap). I think it gives you second entry point if you missed the first one. thanks for your comments.

 

[dc2000]

654 would take care of those stops IMO

would I go long from here No I would want a better price first

 

[leovirgo]

it was just too scary during busy times, the future spiking far more than the cash.

exactly. when i gave orders for bp futs based on cash prices, slippage can be huge. otherwise, there is no need for a 3pip spread unlike sb and cfds.

 

[Offshore Trader]

I agree City. I've actually had a steady week but it has been very rangebound. I could really do with a move below 1.9540 or else I will probably end up giving back most of what I've made. Could do with EUR/USD challengeing the 1.3100 level

 

[trendie]

opportunity for a cheap short, or attempt to break the double top?

 

[jacinto]

repeat setup, but for long now. I pass until high or low are broken.

edit: same chart, with closing prices

 

[29Investments]

opportunity for a cheap short, or attempt to break the double top?

Good question.....

I'm telling myself that since pm yesterday it has been in a range from 9550 to 9600. During this time i has constantly been banging against the bottom but hs ony had 2 stabs at the top. Therefore it must want to go down