FX 2007 > Week 19 -23 Mar

Your favoured pair and timeframes used


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Priceman

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After getting permission from Trendie to do the thread :cheesy: I thought I'd get an idea of what pairs you guys trade and on what timeframes...I know it's all been done before but there are different faces on here now.

From briefing.com (although not very comprehensive)

Week of 19 - 23 March

Date ET Release Consensus Prior
Mar 20 08:30 Housing starts 1440k 1408k
Mar 20 08:30 Building permits 1560k 1571k
Mar 21 10:30 Crude inventories 1180k
Mar 21 14:15 FOMC policy statement
Mar 22 08:30 Initial claims 325k 318k
Mar 22 10:00 Leading indicators -0.3% 0.1%
Mar 23 10:00 Existing home sales 6.35M 6.46M

Better calendars with more detail:
http://www.forexfactory.com/calendar.php?c=2&week=1174176000&do=displayweek&month=3&year=2007
http://www.dailyfx.com/story/calendar/weekly_focus/DailyFX_Weekly_Calendar_for_3_18_2007_1174066294370.html

Busy busy newsweek so should be some spikes I reckon. For me I just can't devote too much time nowadays with full-time job and baby (seems to be a few of us in the same boat :rolleyes: ) so 10-20 a day will do me. Hopefully more down Monday then lots of up without and retracing (don't ask a lot I know)

From tradingeducation.com
Weekly Currency Wrap-up

By Darrell Jobman

Risk aversion levels remained a very important factor during the week and the yen’s movements were correlated strongly with global stock prices.



The latest capital account data recorded a second successive weekly withdrawal of funds from the Japanese market while Japanese investors were more willing to invest overseas despite pressure for year-end capital repatriation.



The yen strengthened to highs around 115.80 against the dollar and, after the US currency strengthened back to 117.75 on a Wall Street recovery, there were renewed yen gains as dollar sentiment deteriorated.



Sterling was volatile during the week and the currency was strongly influenced by the developments in carry trades. The UK currency was subjected to further sharp selling pressure against the yen which pushed Sterling down generally before the currency secured an equally strong recovery.



The latest data recorded a further small decline in unemployment with the claimant count dropping by a further 3,800 in February. The headline earnings growth rose to 4.2% from 4.0%, but the underlying increase was held to 3.6% from 3.8% previously.



The UK trade deficit was lower than expected with a decline in the January deficit to GBP6.2bn from GBP7.0bn the previous month as there was a decline in imports.

Sterling weakened to lows near 0.6870 against the Euro and also dipped to near 1.92 against the dollar before recovering strongly back to highs near 1.95 as the US currency stumbled late in the week.

Swiss currency moves were correlated strongly with global stock price moves with the franc strengthening significantly when equity markets were subjected to selling pressure.


The National Bank increased interest rates to 0.25% to 2.25% following the latest policy meeting, the fifth successive increase. The bank stated that it would continue with policy normalization and markets took this to mean that the bank would increase rates again in June.



The Swiss currency gained support in mid week from a renewed sharp decline in global stock prices. There was a corrective retreat, but the franc strengthened again on Friday and broke dollar support near the 1.21 level with highs near 1.2030.

The Australian dollar was damaged briefly by global stock market declines, but the currency proved to be generally resilient as investor sentiment held firm and there was a firm 22,000 February employment increase.

The Australian dollar found support close to 0.78 against the US currency and recovered back to above 0.7950 on Friday, matching the levels seen in late February.


Good luck all, may the pips be with you.
 
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Another Week..............
What can we expect, I agree with price man Travel upto 445 and then take a nose dive to 300....
I will complete my charting analysis and post it later today or tommorow...
Target for this week is definately 150 pips for me.......so let the pip making begin on monday..

Best of luck
Happy Trading
Rav
 
Strictly one at a time (like my women)

Anything thats calm at times, predictable at times, at times you hold on for the ride of your life but nothing too hairy

As for cable remember that 378 figure heres another 671 not all in one day mind
did anyone else do pricemans chart??
 
I have just been studying the swissy and I am thinking of opening a long term position on this one as I think there is a huge possiblity that this could turn out to be a profitable trade....The swissy is only 621 pips from its strongest level ever.....
Also I see a beautiful inverted Head and shoulders my charts ie H4's and monthly's

The Dollar has to rebound at some point but that comment is too vague to trade on ....But Technically I think the rebound is just around the corner...........

What is the trade idea well.....I am still thinking of going long at the present level with a stop just below 1851........I will have to do a bit more research though....
 
rav700 said:
Another Week..............
What can we expect, I agree with price man Travel upto 445 and then take a nose dive to 300....
I will complete my charting analysis and post it later today or tommorow...
Target for this week is definately 150 pips for me.......so let the pip making begin on monday..

Best of luck
Happy Trading
Rav
Cable seems to be range bound, I think, so daily pivots shall be of some use with MACD & Stochastiks. I find BB bands useful too with MACD Histogram and a quick look & CCI, By the way I have seen somewhere CCI with histogram, it looked a good poss as histogram with candles patterns give early signals of changing momentum. Momentum in FX is paramount.
 
dc2000 said:
Anything thats calm at times, predictable at times, at times you hold on for the ride of your life but nothing too hairy

As for cable remember that 378 figure heres another 671 not all in one day mind
did anyone else do pricemans chart??
Wow, 8671. I don't see that for some time yet but you could well be right, we would have to see 8888 go first though and I think that will provide quite a bit of resistance.
 
Uphios said:
Wow, 8671. I don't see that for some time yet but you could well be right, we would have to see 8888 go first though and I think that will provide quite a bit of resistance.

you been on the secret sauce again

to aid confusion de confusiones 1.9671
 
dc2000 said:
you been on the secret sauce again

to aid confusion de confusiones 1.9671
Hee hee! I kinda knew what you meant but I feel a visit to the 9170 area is on the cards so currently have a short bias. Guess I had better stand aside when 380 area is met.
 
dc2000 said:
I want to open 7am at that price
Have to say I hope you are wrong. GBPUSD OK, but I have some long Swissie positions that wouldn't reach b/e at that level, unless EUR does a contra move to cable.
 
I have been away for a week or so

looking at Monday
looking at the charts usd /swiss looking for a long
asd / usd looking for a short

cable , I have given up on cable last few weeks ,
as I have been unable to make any money out of it lately
 
I coloured my chart in :cheesy:
 

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If anybody is still here - how about celebrating your profits last week with ebay item 330096639098
before 16:37 Sunday.
 
Thanks DC for your chart, anyone else going to have a go? Colour by numbers ;)

Some of my thoughts; I still think there's more upside on cable but not sure it's cable strength or dollar weakness. Would like to see it go down further, possibly until 9350 then upwards to 9650.

I'll try to post thoughts each day if I have anything that could be seen as useful.
 

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Crap Buddist said:
hmmm, is this how it is ?

I understand the fxcm call but the fxb******ds conspiracy theory...hmmm
 
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I think after all my studies ,research and Trading plans have been amended I am going to probably sit on
the sidelines and try and pip the aussie as it is nearing a top and seem pretty safe and also put my swissy trade in ...till I get some kind of confirmation on cable......

so here goes my order on the other pairs:
Both are medium term trades -----5-10 Days
Short on AUD\USD @ 0.7958 with a stop @ 0.8000 My Target on this trade is 0.7858
Long on USD\[email protected] with a stop @ 1.1975 My Target on this trade is 1.2173

My Targets are based on a minimum of 100 pips to be achieved and then adjustment of stop loss according to positions.....

Happy Trading

Rav
 
Priceman said:
Thanks DC for your chart, anyone else going to have a go? Colour by numbers ;)

Some of my thoughts; I still think there's more upside on cable but not sure it's cable strength or dollar weakness. Would like to see it go down further, possibly until 9350 then upwards to 9650.

I'll try to post thoughts each day if I have anything that could be seen as useful.
Your correct priceman, I am not looking for 9170 yet, 9310 my current target from Friday but the down started sooner than expected so I am short 9440 with a stop now (after DC's post) of 9440 and still hoping for 9310 area. For my near term 9170 we need to get down to ??? don't know but when it turns up it must not exceed 9500 again.
 
hornblower said:
I have been away for a week or so

looking at Monday
looking at the charts usd /swiss looking for a long
asd / usd looking for a short

cable , I have given up on cable last few weeks ,
as I have been unable to make any money out of it lately

I have got my Longs in for the swiss June contract @ 11971 Stop @11671 as I said I am looking for a nice smooth 150 pips from this trade in the next 5 days....Lets see what happens

Happy Trading Rav
 
rav700 said:
I have got my Longs in for the swiss June contract @ 11971 Stop @11671 as I said I am looking for a nice smooth 150 pips from this trade in the next 5 days....Lets see what happens

Happy Trading Rav
I hope your right Rav, I'm a bit under water on the Swissie having seen a turn last week and piled in at 1.2120 looking for 1.2250. Married the position after subsequent further drop.
 
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