FX Trading June 25th > 29th

[oiltanker]

still a tight range so have some orders to cover if breakout on the upside.

 

[JillyB]

Took +2 pips off my overnight trade - I went long from 22.20 last night.

According to my charts we've just missed the 2.0000 by 1 pip - looks like it's fighting shy of the target. I'm all for favouring shorts this week - however I'm going to miss most of the week as I'm off to Spain on business tomorrow night.

 

[Crap Buddist]

Latest research just in.........

good trading all. its raining here, so a good time to be working from the comfort of home.

mmm, now then this got me thinking. As London is the Forex capital of the world. Is there any correlation between the weather and its influence on a traders positional bias for that day ?

Studies have shown that if it is raining then it is proven that traders are more likely to sell the £ , and if sunny then they are more likely to buy the £.

For daily insight into what the markets gonna do, look out your window .

Hence why we oft see on days with part sun, cloud, light rain, a doji bar. Indecision.

Whats the weather in London today ?

 

[Phil Mibbutz]

its a clock in London

QUOTE]

A Pedant Esq would like to point out that it's actually a bell. However, anyone who remembers the Battersea or Battenberg strategies might be able to use the bell, or inverted bell, pattern to make huge profits. Or they might not.
Meanwhile, back in the real world, I'm hoping for a bounce off 2 down to 1.994.

 

[oiltanker]

moved euro stop to b/e

 

[oiltanker]

took +14 off the euro. might sell again if it goes higher

 

[Crap Buddist]

First trade . Long 1.9990. See how this one goes..

 

[2be]

First trade . Long 1.9990. See how this one goes..

Cable on daily posted 5 highier highs closely gruped, with the exeption of last Thursday, with the Medium term(10 days MA) and Short Term(5 days MA) up. Long Term (20 MA) also turned up. Looks bullish, though the 20000 level might be defended. Shorts have to be based on a very solid bounce down from the 20000 level and well supported by at least 4hr chart price patterns. My sentiment for cable is long though with caution.
Happy trading to all.

 

[jacinto]

Lokks bullish, though the 20000 level might be defended. Shorts have to be based on a very solid bounce down from the 20000 level and well supported by at least 4hr chart price patterns.

absolutely agree, however, the issue now is

at cable's new speed, what is a rejection

a) 10 pips
b) 15 pips
c) 20
d) 25 ? )

guess cable now should be traded off the daily chart.

 

[jacinto]

in case anyone is interested

25 Jun 2007 08:29 GMT


BULLET: MNI CABLE TECH: Key Resistance Level Is At $2.0015...
MNI CABLE TECH: Key Resistance Level Is At $2.0015 Fibonacci
RES 4: $2.0095 Daily high 18 Apr
RES 3: $2.0074 Daily high 1 May
RES 2: $2.0030 Top of daily Bollinger band
RES 1: $2.0015 76.4% retracement of $1.9620/$2.0133
CURRENT LEVEL: $2.0001
SUP 1: $1.9975 Hourly support line from 15 June
SUP 2: $1.9950 5-day moving average
SUP 3: $1.9870 Daily low 20 June
SUP 4: $1.9830 21-day moving average
COMMENTARY: Break above $2.0000 level is encouraging, but the key level
is $2.0015 -- 76.4% retracement of $1.9620/$2.0133 move. The daily
slow-stochastics confirm the latest upmove along with momentum and RSI,
which imply an upside break. Gains to the top of the daily Bollinger
band eyed at $2.0030. Steep hourly support line at $1.9975 underpins.

Provided by: Market News International

 

[oiltanker]

swiss stopped out.

 

[wasp]

guess cable now should be traded off the daily chart.

Depressingly, that is what I am looking at now

 

[oiltanker]

cable beginning to look like last thurs. so have set a 10pt target.

 

[jacinto]

first trade of the week. long euryen 166.00

edit: considering scrapping for a BE trade or small win-loss.
reason: too early. need the 60 min to close above the round number. 30 minutes to go

edit 2: made up my mind, will hold, and the risk is now -10

 

[Crap Buddist]

+ 3, prudent ,just closed that long there 93 , just gonna wait to see what direction it goes from here. open to long or shorts at the mo.

 

[trendie]

if the cable drops below 9980, and then makes a lower-high, then I am committing to short side.

 

[hornblower]

Hi guys
jut popped in to say hello
given up on trading cable the last few weeks
trading dax, s & p, euro / usd, gold ( not all at the same time )
they don`t call me wasp
just waiting to close euro/usd, its still powering up the 45 degree gann angle

 

[wasp]

Hi guys
jut popped in to say hello
given up on trading cable the last few weeks
trading dax, s & p, euro / usd, gold ( not all at the same time )
they don`t call me wasp
just waiting to close euro/usd, its still powering up the 45 degree gann angle

Nice to see ya hornblower, hope all is going well. Don't blame you regards cable, its getting tougher by the day!

What do you mean like wasp??? I never trade the S&P (just the rest at once!!!) :cheesy:

 

[hornblower]

hi wasp

just like to say thanks for all your imput the last year or so

you gave me lots of things to think about

and you are still doing it 12,000 miles way
kind regards
hornblower

 

[jacinto]

first trade of the week. long euryen 166.00

edit: considering scrapping for a BE trade or small win-loss.
reason: too early. need the 60 min to close above the round number. 30 minutes to go

edit 2: made up my mind, will hold, and the risk is now -10

ok, taking +10 on half, which are funding the -10 on the rest. so free trade.

dont fancy catching a stronger pullback on the 4hr chart, and potentially allready in for the move up to make a new high if it is to happen, otherwise, i only lost my time.

edit: should read +9 and not +10

j