FX-2007: Jan 22nd > Jan 26th

[coolTrader]

Yes the problem with days like this is that when you now go long you get to the previous hight you really don't want to know because of the knee jerking experience you have had all day, you close your position. Sigh!
Came back saw the market at 33/36 thought just go long went long and came out at 59. Now it breaks out.

But... Will there be a follow through in the breakout? Iwant to follow it all the way to 2.0000 if it is going there whenever.. maybe not today.

 

[zuke]

Im short from 41, with a stop at 96...not looking good after that spike. One last hurrah before the fall??

 

[Phil Mibbutz]

Given up for today on cable (v pleased not to have gone long at 780!) and now short on USD/JPY in an attempt to find exciting new ways of losing money.

 

[coolTrader]

Anything can happen I guess but I am long. I am looking for it to get to at lease 1.98 today.. Hmmm....

 

[jacinto]

Im short from 41, with a stop at 96...not looking good after that spike. One last hurrah before the fall??

you never know, it might end up being a nice 60 min pin bar for the short. good luck.

j

 

[geldmeister]

Trading roller coaster, from negative to small profits to stopped out, had thought about reversing long over 75 but the spike closed back below my level, thinking short again on the false breakout, but price has stalled at the level, am calling it a day.

 

[Crap Buddist]

Ok I took a loss on my short ,first attempt long, 71, valid trade so taken it. see if it makes a nudge towards 800 between now and 8 pm try & get back in sync with this market.

 

[trendie]

overall, it was nasty day for all of us.
I am off work due to toothache, and pending appointment.
ironically, getting pips today was like pulling teeth.

we can console ourselves it wasnt just us, it was the market, and it hit us all equally.
but thats Mondays for you.
just gear up for tomorrow.

 

[coolTrader]

stopped out for +0.1

 

[jacinto]

trendie,

have a look at this one. potential WW, with apparent 60 min inside bar, and potential 240 min pin bar.

 

[trendie]

thanks jacinto for heads-up, and earlier explanation.

I have ONLY JUST realised how WW really work!

I thought the 1-3-5 and 2-4 lines merely had to converge.
But now I see they must essentially be pointing in the SAME direction.
( 1-3-5 falling, and 2-4 also falling, but less so, and vice-versa )

Its a sort of rising/falling wedge.
Thats why my ealier snapshot was wrong, the 1-3-5 was falling, and the 2-4 was rising. ( a triangle. or, as my 5-year-old niece calls it, a tria-hangle. )

DOH

http://www.wolfewave.com/an_illustration_along_with_the_rules.htm

 

[jacinto]

thanks jacinto for heads-up, and earlier explanation.

I have ONLY JUST realised how WW really work!

I thought the 1-3-5 and 2-4 lines merely had to converge.
But now I see they must essentially be pointing in the SAME direction.
( 1-2-3 falling, and 2-4 also falling, but less so, and vice-versa )

Its a sort of rising/falling wedge.
Thats why my ealier snapshot was wrong, the 1-3-5 was falling, and the 2-4 was rising. ( a triangle. or, as my 5-year-old niece calls it, a tria-hangle. )

DOH

http://www.wolfewave.com/an_illustration_along_with_the_rules.htm

bingo, edit.....they DO have to converge too!.

i love trading tria-hangles too :cheesy:

j
dont know if this one will be valid or not. just saw it, and with the price action could make sense, however, due to the time of the day, i have to pass.

 

[Priceman]

My thoughts for cable tomorrow...

I think until I see some real downside move I am going to jump on when the price gets low. Eg, today we could have been ok getting on twice today from 15 and 30 as it's not hitting new lows. Sounds obvious but when you're there live it's less so.

House price index up again, BoE King speaking tomorrow. All up up up if you ask me for GBP. Not showing signs of weakness yet, I suspect the big hitters are stacking up their positions.

Any thoughts out there?

 

[jacinto]

My thoughts for cable tomorrow...

I think until I see some real downside move I am going to jump on when the price gets low. Eg, today we could have been ok getting on twice today from 15 and 30 as it's not hitting new lows. Sounds obvious but when you're there live it's less so.

House price index up again, BoE King speaking tomorrow. All up up up if you ask me for GBP. Not showing signs of weakness yet, I suspect the big hitters are stacking up their positions.

Any thoughts out there?

hi PM,

i dont necessarily disagree, yet, i will take caution. Eurgbp can bounce off support and then cable goes down. otherwise, it can go through, and cable goes up (at resistance...could explode or could be very choppy, dont know).

My position is caution, with a clear bias north, but with caution.

j

 

[Crap Buddist]

hmm getting shorts flagged now short 62, ive taken it as i assume that markup on the 3 hourlies may well be a significant high point to which we will not return for some time. Funny time of night maybe but, maybe thats the plan to run over night ,huh ?

 

[jacinto]

im taking a swing short at 9760, 45 pip stop. im looking for 300 pips.

edit...the stop could be tighter, but well, got to give it breathing space.

 

[jacinto]

im taking a swing short at 9760, 45 pip stop. im looking for 300 pips.

edit...the stop could be tighter, but well, got to give it breathing space.

out for -45

 

[Offshore Trader]

Long at 9790 on breakout stop now at breakeven. Will add to it on breakhigher after 8 a.m. if I'm still in it

 

[City Bound]

BO long at 795. Stop at BE.

 

[Marwan2010]

reversed to long at 45

closed the position @ 1.9827
banked 82 pips

Reversed the position - short @ 1.9827, tight stops