FX Trading Dec 03-07

[dc2000]

with no 135 hit yet for me any longs have to be scalps for 30 to 40 pips and take a positional later today or early tomorrow

 

[Crap Buddist]

Looking to see GBPJPY come off here (trade lower) . Currently 225.02/08 finfers crossed

 

[Crap Buddist]

yeah and fingers too buddy........

 

[Crap Buddist]

see what happens from here on,red bars dropped in 225.41 stops ,60 odd but pretty much on par.. might be good for a few pips..

 

[Crap Buddist]

Entry detail flagged

 

[Mr.Black]

I am long on EUR/USD

 

[bbmac]

Are you not bothering with your trend indicator now Mr. Black??

So, no doubting where near term resistance in cable is then!! 0300-0325 area, that said be looking for higher lows under it for a greeater probability of a break to the upside threough it, if recovery extends off the 0171 intraday lows.

138hi-lo pip range today so far, 318 yesterday.

Have a good evening all.

 

[trendie]

nasty day for me today.
choppy GBPUSD.
EURJPY, EURUSD were gently sliding for shorts, but then shot upwards, overtaking my MA-X, leaving me reeling.
USDJPY triggered short, but thankfully was slow moving, so the short was exited, as it ultimately went upwards.
a GGGRRRR day.

bbmac: I noted the ~296 Res marker. GBPUSD seemed to make a small inverted H&S pattern as well over course of today.

EDIT: you got there 1 min before me. ok, 300 or so it is, then.

 

[Crap Buddist]

roll........

setup's rollin with it. Fickle time but this spits out trades 24/6 always in. And it usually makes better decision's than I do..... anyway see what happens.....

 

[DDI]

nasty day for me today.
choppy GBPUSD.
EURJPY, EURUSD were gently sliding for shorts, but then shot upwards, overtaking my MA-X, leaving me reeling.

I had the same experience..same with gold.

horrible day. lost 2%

 

[dc2000]

is it me or are things looking deceidedly weak this morning cable needs another low but not the Eu/$ so could be interesting

 

[hornblower]

is it me or are things looking deceidedly weak this morning cable needs another low but not the Eu/$ so could be interesting

Hi dc
nice to see you around again your input has been missed
kind regards
Hornblower

 

[bbmac]

So cable finally breaks through that 0300-20 resistance zone. Will it act as Support now as it represented the ast lower swing high area in the downtrend....we'll see no doubt.

screenshot is the 4hr, showing the potential chart resistance areas, cable now getting resistance at that November low swing x 2 hits, above that ana minor swing low at 0450/60 area ahead of that 0516-30 area x 5 hits as support.

MNi talking of offers littered from this 0345/55 right through to 0400 ...most liklely minor round 0380, stronger around the 0400 number. Certainly 4 potentially significant fibs reside between 0384-0409

 

[Crap Buddist]

update

One minor whip whop overnight

 

[bbmac]

Screenshot shows the situation re the fib tunnels (extreme = red solid line) upper donchian channel (pink) and Resistance Channel (red dorred) on the 1 5 and 15min time frames at that 0345/55 resistance area...this added to the connfluence of technical reasons to short, stochs too were in extreme o/b to 15min and o/b 30min.

Note how the fib channels (yellow and aqua) came down to intersect on 5min.
(I only run these on 5min)

 

[bbmac]

'........Dollars remains firm against Sterling, Swissy and Yen ahead of the highly anticipated Non-Farm Payroll report today. Economists expect 90k job growths in Nov's NFP, down from prior month's 166k with unemployment rate edging higher from 4.7% to 4.8%. Most leading indicators support a weak figure today......'

ADP saying +189k !! last months strong way above forecasts +166k the figure to aim at I guess. 70k seams to be the median forecast in a wide range

Sub 70k, fed cut by 0.50%, 120k+ fed cut 0.25% the scenario being talked up ??

So conventional wisdom says sell $ if +70k or less, any comments?? As always previous months revisions and the forecast rise in un-emp rate could make it a volatile market.

 

[bbmac]

cable found support at that broken resistance area to make marginally higher highs at 0350 area resistance. The support at the broken 0300/20 resistance area coinciding with the then 23.6% fib of the move up from yesterdays lows at 0174 area.

The screenshot shows the hidden divergence set-up for the Reentry and the Reversal set-up at the slightly higher highs. I didn't get the 2nd set-up as was busy elsewhere, but note the double regular immediate seperate peak osma (lead oscillator) divergence.

(5min Reentry type 4, 5min Reversal type C.)

Just under 1hr to go till NFP.

 

[DDI]

i bought cable 2.0277 came out 2.0340, although it penetrated 2.03 and IMO should stay there as all intra day charts & my indicators are bullish I came out as.

1. recover a fraction of my losses. I had a terrible week.
2. 2.0350 was a swing low on 16th Nov (daily chart). It is also high of today
3. NFP. didnt want to take the risk.

 

[bbmac]

re the above, reversal set-up this was the 5min situation re the other channels etc...see screenshot

 

[bbmac]

Wd DDi.

This 0345/55 area that Daily swing low from Nocvember as well as a Daily Swing high from 12th and 13th Sepember...see screenshot.

Mni saying offers reside now 0350-0400, and in this area lies Dly R2 at 0380-87 50% of 0595-0174 at 0384 also , as well as 38.2% oof 0832-0174 at 0364, and the breeched 61.8 of the 9879-1162 at 0368.