Fx 2008

[trendie]

I suggest Trendie looks at the trend

First target taken +27, stop moved to B/E next target 166.30

As for me being in the sun too long there's a pressie for you attached

Daily?! Don't have the patience. I barely look back more than 3-5 days; even then its in context of sessions.

I am still none the wiser of what would need to happen for you to change your perspective to the Short side? A small breach, followed by a LwrH, and second break?

Too much thinking; no afternoon trades. off till tomorrow.

(good long-side trade ; I was busy looking for shorts)

 

[rols]

Daily?! Don't have the patience. I barely look back more than 3-5 days; even then its in context of sessions.

I am still none the wiser of what would need to happen for you to change your perspective to the Short side? A small breach, followed by a LwrH, and second break?

Too much thinking; no afternoon trades. off till tomorrow.

(good long-side trade ; I was busy looking for shorts)

Second position stopped out B/E

Even with day trading IMO it pays to work from the top down, though I see your perspective on the above trade. EUR/JPY is IMO one of the trickier crosses to read but in some ways that's an advantage because it rarely conforms to conventional logic.

There are always going to be fuzzy zones and that's where feel and experience come into I suppose.

The other possible influence was that I had been trading the break out on the USDJPY earlier in the morning session and I knew there was some strength short term in the JPY which retraced to 61.8 from it's move and took the others with it.

Perhaps this is all rubbish but it seems to be working for me as of late so I'll stick with it.

BTW I always have a tube of factor 25 to hand....

 

[Crap Buddist]

CB;

I am long on an 8Hr timeframe; it may well retrace down to 208.50 ish, but I am playing the Ascending wedge.

Spot on, there MrG. I positioned long after that prod 209.05 for the rest of that session .

gone long 209.80 this am on that reaction, (must of been some news out?) see if it busts higher today..

 

[Gumping]

Eur/usd

Very bizarre price action today.... looks like the price is drifting upwards atm. Came out of UK and US open flat in each case. Very rarely seen it like that nline2lo

Still no trade

 

[Crap Buddist]

Hope the markets gonna return the favour and work that price 30 points higher than todays high!

Had the retracement bus on that GBPJPY with some hommies hanging out swinging bats down to 209.40

see what happens 210.40 again. my setup still long at the mo.

 

[Crap Buddist]

well tight ol range .. but I'm sure ive read that a 2 day close above R is bullish and 209.50 is that mark ? on gbpjpy so maybe the TA books will give a power assist to the upside today!!!

 

[trendie]

Hi Trendie

I see a strong weekly support at 165.75 and a fib 61.8% on the H4.

If this is confirmed....

I would take a long at 165.75 stop 165.55ish

First target 166.05 then 166.30

Whaddya think?

you certainly got that 165.75 support line nailed on the EURJPY.

 

[MrGecko]

CB; due to my own incompetance, I brought up the wrong trade ticket that set a top too low, and have been stopped out - trade still looks good to me though, I will look to re-enter on the breakout.

 

[rols]

you certainly got that 165.75 support line nailed on the EURJPY.

Ta. If only these things were a certainty - death and taxes I suppose.

On EURJPY H4 nice wedge forming with the downside break having to break strong support
at 165.50 area so my money will be on the prevailing trend with an upside break of 166.35 area.

Currently sitting on last weeks high 166.15.

Looking for break of 166.35 with target 1 166.75 and target 2 167.00 with possible option of 25 TS at T2.

 

[trendie]

who's superstitious enough NOT to trade tomorrow?

or is this like asking whether you use astrology to trade?

 

[BostonFXtrader]

who's superstitious enough NOT to trade tomorrow?

or is this like asking whether you use astrology to trade?

Superstitiuos... NO WAY.. It's should be interesting tomorrow morning, the U.S. is releasing their latest Consumer Price Index at 8:30 AM EST. I believe that CPI could beat the estimates of 0.5% and Core CPI should be in line or come in slightly higher of 0.2%. After this week's recent run up in the US Dollar, the market should spike on the the initial news and break new ground against all of the majors. I am going to have TP's in place before the release of the CPI because there could be Profit Taking sending the US Dollar back down. By 1 pm EST or so, the market should be dead, and a pull back could occur. For the Take Profit, use roughly a big figure above where the currency is traded right before the number and a 40 pip SL. Best of Luck.

 

[rols]

Ta. If only these things were a certainty - death and taxes I suppose.

On EURJPY H4 nice wedge forming with the downside break having to break strong support
at 165.50 area so my money will be on the prevailing trend with an upside break of 166.35 area.

Currently sitting on last weeks high 166.15.

Looking for break of 166.35 with target 1 166.75 and target 2 167.00 with possible option of 25 TS at T2.

Target 1 taken + 40

Stop moved to B/E

 

[Crap Buddist]

CB; due to my own incompetance, I brought up the wrong trade ticket that set a top too low, and have been stopped out - trade still looks good to me though, I will look to re-enter on the breakout.

well dare say a few of us have even committed the i'm going long but my open ticket ive just opened says i'm short !! WTF.... not made any of those errors in ,well none in the last year or so fortunately.. hmm wonder if there are any traders suffering dementia, not funny unless one see's the funny side of it.

Ive sat here and watched it most of the time, on and off, -8 points for my efforts last 24 hours, still in for any break, only 2 trades in that time that attempt to hold for a break either way so not doing much.

waiting for the break seems sensible I can see why some people have the sense to use stop orders, only i'm not that sensible....

see what happens today.

 

[Crap Buddist]

Well, well, well, Ive had a prod of a 1 nut flush off the open, is this the trade that just gonna keep on giving today or will it fizzle out? surely must have the balls to prod the recent range highs... not holding my breath but, no harm cheering for the side

also i was thinking yesterday to get a lift we could do with some yen negative news, and i'm sure bloomberg this morning mentioned something about a japenese bank and profits off? something like that. wasn't really listening..

 

[Gumping]

The thread has been pretty silent this past week.

Sorry chaps, been a bit busy. Made a right pig's ear of a trade last week and would have been decently in profit if I'd followed the plan through
EUR/USD seems to have found a bit of support at 1.5500 :idea: maybe I'll trade a pull-back :idea:

 

[trendie]

Is the psychological ups and downs that affect me most these days.

Yesterdays 75 pips on the GBPUSD was a good start.
Now, I blow 22 of those pips, so I am now 53 pips up after 2 days.
Effectively, back to my 20 pips or so per day average, whereas I was up over 3 times my normal daily take.

Aaaaaaaarrrrrrggggghhhhhh!
Seriously need a break from all this rollercoaster stuff.

 

[Gumping]

Fun ain't it?

Well this one's done good: bought EUR/USD at 1.5487 yesterday, a nice 135~ish pips so far.

 

[Crap Buddist]

Well done merv.....

writing letters . What a knob, merv is quite right when he said he like writing letters. Its not mervs fault about global commods whacking in short term is it? How come the panel members don't see the sense ,Instead they bang on about merv,merv your failing you ****, whack up rates. Cool merv says **** you **** for brains, its a blip, rates on hold until next year you muppets, I raise rates now which will do **** all to stem global commod inflation, but will accelerate this country into a ****storm of recession, now **** off..... you *****..... you know **** all...

well, thats what i got from it.... anyone else see it any different ?

i think mervs turned it around again...... Well done merv.

No rate rises this year ? seems like it... let the economy slow(as is), wait for commod bubbles to pop, then we should be on track with the inflation next summer ? Hoorrahh.!:cheesy:

I like merv.

 

[Gumping]

writing letters . What a knob, merv is quite right when he said he like writing letters. Its not mervs fault about global commods whacking in short term is it? How come the panel members don't see the sense ,Instead they bang on about merv,merv your failing you ****, whack up rates. Cool merv says **** you **** for brains, its a blip, rates on hold until next year you muppets, I raise rates now which will do **** all to stem global commod inflation, but will accelerate this country into a ****storm of recession, now **** off..... you *****..... you know **** all...

well, thats what i got from it.... anyone else see it any different ?

i think mervs turned it around again...... Well done merv.

No rate rises this year ? seems like it... let the economy slow(as is), wait for commod bubbles to pop, then we should be on track with the inflation next summer ? Hoorrahh.!:cheesy:

I like merv.

CB It's amazing! All those Japanese characters you write with.... after years trying to decipher them, they all still look like stars to me

 

[trendie]

Oscar "Stops are In, Emotions are Out" Carboni reckons that the markets get choppy this week, due to Friday being Independence Day (in US, at least), and the reduced liquidity that goes with it.
He reckons its not worth trading as TA may lose some of its effectiveness.

Are you trading this week normally, or will be wary in the latter part of week?