FX Trading June 25th > 29th

[2be]

Delta, shmelta!

is this an (sustained) up-move, driven by the psychology of the $2 level?
or forming the spike that indicates the turning point?
I have today as a "red day" on the daily-delta, and looking for a plummet.

am I thinking too much?

t
The 20000 level has proven to be a BIG number for cable

 

[jacinto]

that was me long 165.65 euryen

lets see if this works.

move to breakeven on break of 80, close on failure of 95

target, 6645 at least.

this is now at breakeven, and will assess later what to do.

need to go for a walk to clear my mind. at least the setup is working. still can fail, but its a free trade.

good luck all

 

[jacinto]

for those that like eurodollar

26 Jun 2007 13:48 GMT


BULLET: EURO-DOLLAR: Sources note that CitiFX Technicals a...
EURO-DOLLAR: Sources note that CitiFX Technicals just recently issued a
euro-dollar "long" trade recommendation with a buy at $1.3470 looking
for " at least $1.3850 and possibly above $1.4000." Euro-dollar is
"ready to go again," they say.

Provided by: Market News International

 

[jacinto]

well, got to pick up my kid, not very happy its not breaking higher. will leave open and stop at breakeven. have had the option of taking +20, or wait. i guess i will wait. 4hr setup looking OK, but taking its time. and the 15 min still making higher highs and higher lows, so no reason to exit.

hope i dont end up with a frustrating breakeven trade.

edit: that ended up as a frustrating breakeven trade.

 

[Crap Buddist]

taken a loss -18 on that short....

Now attempting a long 1.9990.9

 

[Crap Buddist]

Ive noticed since i upgraded the broadband to 8 megs today, that all my positions went against me a lot faster.

 

[oiltanker]

that +20 option is looking good on cable. i had +15 this morning vanish to b/e.
so at what point does one know you have to twist or stick? do you go for the 20 and perhaps miss out the 80? Do you go for the steak and chips or settle for the salad? or do you have to play keep moving the stop up 20pts until it gets hit?

or do you go eur/yen?

edit

more cot report
http://www.actionforex.com/forex_an...ositions-_suggests_usdchf_top_2007062523833/

i see cable made P-R1 [1.9977-2.0001] and close to coming back to P.

 

[Offshore Trader]

that +20 option is looking good on cable. i had +15 this morning vanish to b/e.
so at what point does one know you have to twist or stick? do you go for the 20 and perhaps miss out the 80? Do you go for the steak and chips or settle for the salad? or do you have to play keep moving the stop up 20pts until it gets hit?

or do you go eur/yen?

Personally, I don't like trailing stops because they are either too tight in which case they get hit even if the trend hasn't really changed, or else, they are so loose that they don't provide much protection. That is why personally, I like timed or amount (number of pips) exits. It doesn't stop the pain of a reversal (EUR/JPY last two days) but does give you the satisfaction of taking yourself out rather than the market doing it for you. If I had enough skill and/or confidence, I'd create more targets based on support/resistance but every time I base them on that, the supposedly good levels cave in instantly...

 

[fibonelli]

there's nothing like extreme COT readings in the funding currencies, CHF and YEN, to help trigger sharp counter trend rallies.

equity markets quite weak at the mo', hmmm..................:idea:

 

[jacinto]

that +20 option is looking good on cable. i had +15 this morning vanish to b/e.
so at what point does one know you have to twist or stick? do you go for the 20 and perhaps miss out the 80? Do you go for the steak and chips or settle for the salad? or do you have to play keep moving the stop up 20pts until it gets hit?

or do you go eur/yen?

you too, rubbing salt on the new wound

edit: how about this. you dont take the 20, move your stop to breakeven, get stopped out, come back, and see you were right, and the steak was there waiting for you, just that the cook was being a bit slow.
j

 

[a_gnome]

you too, rubbing salt on the new wound

j

Sorry to hear that you got stopped out, Jacinto. My remaining half short CHFJPY was stopped out at b/e. My one consolation was that at least someone would be making money on the long side of EURJPY and now I learn that even that isn't true.

Ho humm... at least I took 30 odd pips on half the trade.

 

[jacinto]

Sorry to hear that you got stopped out, Jacinto. My remaining half short CHFJPY was stopped out at b/e. My one consolation was that at least someone would be making money on the long side of EURJPY and now I learn that even that isn't true.

Ho humm... at least I took 30 odd pips on half the trade.

thaks AG, no worries, guess its my fault for needing the emotional insurance of not taking a loss after missing a profit.
definitely annyoing, to hold my horses, dont chase a missed profit, spot a setup, take a trade that goes directly to profit, and get an unexpected pullback when i have to go fetch my child in which case, as a rule, i lower my risk if the trade is not in significant profit, come back, and out, bang.

same to you, sorry for the missed profit. i was actually eying that pair too, and gave it a miss.

j

 

[Crap Buddist]

well **** me, if i closed this trade out now it would net zero..


How do we feel about cable looking ahead this week ?

Ive eyeballed the 3 hourlies , dailies and hourlies and looking at it I think its gonna ramp higher, looking on the hourlies its had plenty of time to take advantage of the weakness displayed . BUT. 1.9960 pumping up from there, to me anyways, looks like demand is strong still.....

whats everyone else think ?

 

[jacinto]

1.9960 pumping up from there, to me anyways, looks like demand is strong still.....

whats everyone else think ?

sorry, im affraid the patient is lost.

 

[oiltanker]

j

no salt just me drinking in the same bar called Stop Out Cantina.

b/e for me is a frustrating trade but its a free trade.

cb

looking at dailys we have two 'evening stars' at the end of a run to the upside and stochs looking like a poss turn so anticipating a down [using 'the Force' ] i have taken a sell with stop at r1 ish. i'd much prefer to be trading dailys but i need more practice.

 

[oiltanker]

Brown takes PM job effect?

i suppose if he springs a few surprises on taking over then we might be in for some action?

http://www.actionforex.com/forex_an...k_for_a_top_or_a_26_year_high?_2007062623909/

 

[Crap Buddist]

sorry, im affraid the patient is lost.

Cheers J.. interesting to see how this plays out, although staring at the charts and see ing 1.9960 (sub) rejected just says higher......

maybe the markets just waiting for confirmation that US rates will be on hold for the next leg.

I dunno... bullish at the mo whilst 9960 holds. Also back of my mind is monthly range from junes low, suggest 2.0100/2.0200zone ,assuming months low is in.

cheers.

 

[Phil Mibbutz]

Flatlining, indeed. Amazing that even with tightish limit/stop a cable trade can still be open after a couple of days. Down to 940 then up 100 again tomorrow, please.

 

[Crap Buddist]

mmm, ive got a feeling this might be an outside bar day ?

 

[Crap Buddist]

Gone short 1.9951, just in case it aint and we do get continuation..... stop 73