FX Trading July 2nd > July 6th

[Crap Buddist]

Well I got my short near the top not quite the very top though. It's now broken 170 let's see where it goes down to. If this hour doesn't close below 170 then I fear more upside, possibly upto 250! That maybe tomorrow's target with NFP. Stop is tight as I'm going off to a meeting. It seems to like 160 so I suppose that's the nearest resistance for the day...

Any other thoughts out there?

Its broken its recent trendline, hours or 3 hourlies,(yesterday) classic, loft up towards highs, load up for shorts. whilst its sub 2.0220 , shorts look good.

 

[fibonelli]

GBP/USD on the hourly looks very toppy. Also looks like rolling over to the downside. eg 21EMA and 50EMA now pointing down.

 

[wasp]

If we can break the 14 year high and that trendline we should be heading South nicely but that probably won't really happen till NFP tomorrow I should imagine...

 

[jacinto]

If we can break the 14 year high and that trendline we should be heading South nicely but that probably won't really happen till NFP tomorrow I should imagine...

think you could be very right indeed.

 

[Crap Buddist]

lower line goes, $2.00 for a start ?

. as i was typing its kicking in..... taking out the lower line see whats happend ?

 

[wasp]

think you could be very right indeed.

It amazing how you can come to the same conclusion but draw completely different lines in the chart!

 

[wasp]

Maybe we'll get the break now, the pullback overnight/early UK sess and then drop tomorrow at NFP?

 

[jacinto]

It amazing how you can come to the same conclusion but draw completely different lines in the chart!

not just a pretty face

 

[wasp]

not just a pretty face

Lose the 'just' and you could be onto something

 

[jacinto]

Lose the 'just' and you could be onto something

you cheeky kiwi, go on, learn a language :cheesy:

 

[wasp]

or......... all the way to $1

EDIT:: meant drop to 2.0100 not $2... yet...

 

[xx_joray_xx]

wasp.....

its been like 2 monthes sincei have checked in...but can you help me to remmeber the older dude that had trades just based on price....i have seen any of his post

 

[Crap Buddist]

got a long flagged from 2.0111, interesting to see if it retakes 2.0125/35 recaptures it.

taken the long.

 

[trendie]

have a think about what you guys would like as poll questions for start of next week!

PS: I scalped 60 pips today. felt terrible, all that waiting...

 

[jacinto]

ready for a short 2.0123

 

[Crap Buddist]

mmm good old tussle line on that short, looking on my earlier lowerline, the 4 hourly has prodded through it yet closed back obove circa 123 odd.... next few hours might be interesting, attempt back up or continuation down.... maybe they drive it north back into range until NFP's ? must be some tasty session buy stops ,130 up,up,up...... ?

 

[jacinto]

mmm good old tussle line on that short, looking on my earlier lowerline, the 4 hourly has prodded through it yet closed back obove circa 123 odd.... next few hours might be interesting, attempt back up or continuation down.... maybe they drive it north back into range until NFP's ? must be some tasty session buy stops ,130 up,up,up...... ?

let see CB, could simply fail.

i´m too hungover from yesterday (extra long lunch with too many vodkas.....) (we have a bet with the waiter that if he brings the next vodka after we have finished the current drink, then he pays for it otherwise, if the new drink is there before the old is finished, then we pay for it so you can imagine one just doesnt stop drinking :cheesy

today it will be seafood...and rum and Fifa U20

j

 

[Phil Mibbutz]

Oh what joy... had to leave short running with a tight stop when I went out at 1.30. Arrived home to find it hit by about 3 pips, turning what would have been +50 into -11. Could have been a lot worse, of course, but meanwhile my paper trade on a slightly different strategy made the profit. There may be a lesson to be learnt here. Give up on FX, perhaps?

 

[Atilla]

Oh what joy... had to leave short running with a tight stop when I went out at 1.30. Arrived home to find it hit by about 3 pips, turning what would have been +50 into -11. Could have been a lot worse, of course, but meanwhile my paper trade on a slightly different strategy made the profit. There may be a lesson to be learnt here. Give up on FX, perhaps?

I got the FA totally wrong and interest rates rose. However, the TA was good and I'm in positive territory.

I'm now in the opinion rises in interest rates in the UK and Europe soon will be very bad for the US coupled with the sub-prime market problems. The down turn in the US markets will mean reduced dollars in circulation and so the pound I think will continue to ease off to test the $2 mark.

I will maintain my short position. Although 4 hour charts looks bullish the daily charts lools like it has some more give to the down side.

I really would like to see $2 tested before another surge forward. Just wishful thinking... :cheesy:

 

[Trader333]

Oh what joy... had to leave short running with a tight stop when I went out at 1.30. Arrived home to find it hit by about 3 pips, turning what would have been +50 into -11. Could have been a lot worse, of course, but meanwhile my paper trade on a slightly different strategy made the profit. There may be a lesson to be learnt here. Give up on FX, perhaps?

What time did you come back ?


Paul