FX Trading June 18 to 22

[oiltanker]

stopped out for +20 and closed swiss for +8

 

[oiltanker]

cot report

"As of the close of trading last Tuesday aggregate USD shorts were scaled back sharply on the back of a reduction in EUR and GBP net longs as well an expansion in CHF shorts. EUR net longs reached the lowest level since February 2007 and CHF net shorts surged to a new historical high."

http://www.actionforex.com/forex_an...ositioning_in_cad,_nzd_and_chf_2007061823413/

 

[Crap Buddist]

Ive gone long 1.9810... see what happens from here.

 

[smbtnt]

General consensus of 9840 swing and major daily Fib level acting out this morning. 9790 acting as an add-in level for the swing longs. Very interesting week coming up for GBP.

 

[jacinto]

well, shorted from 28, stop above the high. lets see.

have severe computer problems, platform down, and managed to bring stop to be over the phone. bu99er,

edit 2: at least i can see prices on my other charting package.

ok, back to normal. well, that was a lucky dip. lol.

 

[zuke]

I am pleased with my 9837 entry, but this really is dull stuff!! Tempted to do some large CAd trades just for some excitement!

 

[jacinto]

right, got to go out. keeping stop at BE, and see where it goes. I simply wont tempt destiny by moving my stop to its original place.

being supersticious can hurt trading.

again, brilliant entry zuke. still very jealous of it. it came back to visit that level, but i didnt have a setup, so couldnt trade it. really regret it. but well, now from a lower level. good luck all
j

 

[trendie]

I am pleased with my 9837 entry, but this really is dull stuff!! Tempted to do some large CAd trades just for some excitement!

glad I'm not the only one thinking this is tedious.
never mind, maybe the Dow will be better.

by the way, thanks for all the supportive posts (and PMs) last week.

 

[jacinto]

half covered for +20, and catch you guys tomorrow.

 

[Atilla]

half covered for +20, and catch you guys tomorrow.

Hi guys,

Very busy day and so a late start. Glad to see cable surging. I see support at 1.98 and 1.9770.

I think this is going up to 1.99 very soon. I'll be looking to go long on weakness really.

We may retrace to 1.9790 which is Fib 23%. Really can't see it breaching 1.9770 which is 38%.

Good luck everyone.

 

[2be]

cot report

"As of the close of trading last Tuesday aggregate USD shorts were scaled back sharply on the back of a reduction in EUR and GBP net longs as well an expansion in CHF shorts. EUR net longs reached the lowest level since February 2007 and CHF net shorts surged to a new historical high."

http://www.actionforex.com/forex_an...ositioning_in_cad,_nzd_and_chf_2007061823413/

That makes an interesting reading, though COT is helpfull on a longer timeframe perspective. I wish on the provided link there was an indication of commercial interest too. It appears to me that on cable the short positions have been coverred as the volume has decreased within the last accounting perods.If in the next week the number of shorts increases together with the volume, I would interpret it as non-commercials are hoping for a substancial move south, otherwise the cable might stay within the established range, which I hope is not the scenario.

 

[jacinto]

well, been stopped out on remainder. need to upgrade my PC, platform problems were not related to the platform but my memory. not a risk i want to run again. got lucky this time, could have been after placing a trade without placing the stop.

what an awful day for those that didnt enter long early. hopefully a better day tomorrow.

evening.

j

 

[Crap Buddist]

well, been stopped out on remainder. need to upgrade my PC, platform problems were not related to the platform but my memory. not a risk i want to run again. got lucky this time, could have been after placing a trade without placing the stop.

what an awful day for those that didnt enter long early. hopefully a better day tomorrow.

evening.

j

mmm, still holding long here. Looking at things still showing bullish at the mo, whats likely to make me stop this trade is a time cut I'll hold for now but going past 8 pm will be a ball ache, ive already nodded off to sleep to the hum of the processor fan twice.

If they bust the stops to the upside I'll likely cut into that, call it a day and get some kip.

 

[jacinto]

yea mate, talk about lucky dips

 

[Crap Buddist]

yea mate, talk about lucky dips

Your entry was pin sharp. you managed the trade well , and bagged some good points considering the range from your entry to support ,the market had a fair look circa 1.9800 . good trade.

 

[jacinto]

thanks CB, was sniping a bit. feel a bit like a scavenger, but well

actually have been eying closing prices using lines only.
rather interesting setup. kind of got into it last week, on 4hr charts, and used it today on 15 min charts (even if Wasp discriminates against retail traders and 15 min charts :cheesy: )

its basically identifying either support or resistance, closes of 4 hr bars at resistance, and dig into either 15 or 60 min charts, if price fails to continue, then look for higher lows or lower highs, and on the pullbacks pull the trigger. key level today was 26-28 (close of 9AM bar), but the pc played a trick. guess i have to stop going to non-family friendly websites :cheesy:

you are not doing bad either.

j

see the chart

 

[Crap Buddist]

thanks CB, was sniping a bit. feel a bit like a scavenger, but well

actually have been eying closing prices using lines only.
rather interesting setup. kind of got into it last week, on 4hr charts, and used it today on 15 min charts (even if Wasp discriminates against retail traders and 15 min charts :cheesy: )

its basically identifying either support or resistance, closes of 4 hr bars at resistance, and dig into either 15 or 60 min charts, if price fails to continue, then look for higher lows or lower highs, and on the pullbacks pull the trigger. key level today was 26-28 (close of 9AM bar), but the pc played a trick. guess i have to stop going to non-family friendly websites :cheesy:

you are not doing bad either.

j

With the closes , mmm, yes makes sense I always wait for the close of the bar to come in, although ive got bar or a candle on display, not interested in the opens of a bar just the close but with the bars being displayed it gives me the spread of the bars so I do not think i could settle on a line only. I like to see the whip .

But yes interesting if you use a line only also around S & R look at the closes things do seem a lot clearer.

 

[Crap Buddist]

+21 exit long 1.9831 , exit based on time cut and wife saying, "I'm not nagging but its gone 8.25 and we need some milk and the shop shuts at 9."

er, now that exactly is a nag, lol dont they get it?

never mind...

 

[Trader333]

glad I'm not the only one thinking this is tedious.
never mind, maybe the Dow will be better.

by the way, thanks for all the supportive posts (and PMs) last week.

Zuke and Trendie, Do you trade to make profit or for excitement ? The reason I ask is that the motivation between the two is very different in my view.


Paul

 

[oiltanker]

how bootcamp saw the cable day