FX Trading May 21-25

[2be]

Gone with the trend and shorted cable@925

 

[Atilla]

Morning all,

I'm now out at 1.9715.

There may be some pull back to but still the 4 & 1 hr charts sill look like picking up from their lower SAR line.

Also on the long term charts I can't help thinking 1.97 has become the new 1.93 level with continued dollar weakness.

Will be looking to go long again when support kicks in. I'm guessing 1.97 will hold.

Good luck everyone.

 

[rav700]

Everyone short on cable at 25....
This is generally a sign that the reverse is going to happen...

Dont worry I am short @ 23....
So I will join you in celebrating the losses

 

[jacinto]

still flat on this end. took the kid to school. still see no short setup and only longs (which I wont take)

 

[trendie]

Everyone short on cable at 25....
This is generally a sign that the reverse is going to happen...

Dont worry I am short @ 23....
So I will join you in celebrating the losses

I think I know what you mean!
I am thinking too much (in between to listening to Radcliffe and Maconie on BBC listen-again), and although I am thinking of down, and thus looking for shorting pull-backs, I can see the possibility of taking pips on the pull-back itself, since you cant tell which one is going to form the reversal! (as per JillyB)
I am trying as much as possible to simplify, and not to over-think, with mixed results.

(still keeping to the short)

 

[Crap Buddist]

reading pretty much a mixed bag again, long signal at 1.9113/15 but showing weakness. Im not long as I wasnt here to take it. But no confirmed sell yet either.

I'll have to wait ,may consider long if it dips, if it dips too much , I'll look for a short. I'll likely be waiting for another hour I think either way.

 

[jacinto]

fyi

BULLET: MNI CABLE: Fundamental levels (orders, options,......
MNI CABLE: Fundamental levels (orders, options, technicals),
$1.9930/40 Strong offers
$1.9900/10 Minor offers
$1.9870/80 Medium offers
$1.9840/50 Medium offers
$1.9790/800 Medium offers/stops above $1.9810
$1.9775 Technical
$1.9750/55 Strong offers/stops above
$1.9730/40 Medium offers/$1.9731 intraday high (Asia)
$1.9724 *****Current mkt rate 0925BST Tues
$1.9700 Medium demand/intraday low $1.9702 (Asia)
$1.9680/70 Medium demand/Monday low $1.9677
$1.9650 Strong demand/stops below
$1.9625/20 Minor demand

Provided by: Market News International

 

[Crap Buddist]

Ok now short 1.9729

 

[Offshore Trader]

The weakness of EUR/GBP must be a concern for cable shorts.

 

[trendie]

fyi

BULLET: MNI CABLE: Fundamental levels (orders, options,......
MNI CABLE: Fundamental levels (orders, options, technicals),
$1.9930/40 Strong offers
$1.9900/10 Minor offers
$1.9870/80 Medium offers
$1.9840/50 Medium offers
$1.9790/800 Medium offers/stops above $1.9810
$1.9775 Technical
$1.9750/55 Strong offers/stops above
$1.9730/40 Medium offers/$1.9731 intraday high (Asia)
$1.9724 *****Current mkt rate 0925BST Tues
$1.9700 Medium demand/intraday low $1.9702 (Asia)
$1.9680/70 Medium demand/Monday low $1.9677
$1.9650 Strong demand/stops below
$1.9625/20 Minor demand

Provided by: Market News International

thanks for that, j, thats something I have been looking around for a long time.
I have subscribed.
Do you find the insight of "stops above" or "stops below" to be a good advance knowledge of reversal points?

are there any other sites that provide this kind of market data?

 

[jacinto]

thanks for that, j, thats something I have been looking around for a long time.
I have subscribed.
Do you find the insight of "stops above" or "stops below" to be a good advance knowledge of reversal points?

are there any other sites that provide this kind of market data?

think its a mixed bag really. what these guys supposedly do is that they chat around the different desks to get info. what i always thought they meant as "stops above" are buy stops, and thus stop hunting to get a move going faster, rather than a reversal.

get a demo with etrade or saxobank. they have this for free (at least they had)

j

I will wait for a short. still only see higher highs and higher lows, but weakening. 9745 looks like an ideal place to short.

 

[smbtnt]

Intraday Long @ 9720 close above 34 ema on the 15 min @ 8.15AM

 

[The Pearl Fisher]

Cable has been able to regain the 1.9700 level and continued to trade above overnight. This has confirmed yesterday's outlook that Cable will take on a more positive note and a move higher will be the way forward. I took this view early this morning and have adjusted my positions accordingly (at around 6 am) Overall I will be looking for a move to the 1.9820 level. Though not necessarily in a single move.


My thoughts only…

 

[smbtnt]

Stops for original Long at 9690 and Target 9780.

 

[rav700]

I came out at +2 pips...Just dont like cable when it behave like this.......
I will wait for a bit of direction

 

[a_gnome]

Morning all,
Interesting that there are so many short biases around at the moment. For my 2p's worth we are STILL in the downward sloping trend though we only just touched the upper line (depending on where you draw it) and are now spending more time scraping along the lower line. While this does point to a downward bias it does make it harder to take a short at this location within the band as the downside is limited by the lower line.

In terms of market action it's been in a narrow band of congestion for the last few hours that have set my trend indicators (various EMA's) to neutral so it could break-out in either direction.

Conclusion: I'm standing aside for now until I see something worth trading.

 

[2be]

got out of short on cable with 8pps , agree with Rav sentiments

 

[Crap Buddist]

Confirmed shorts im reading, look to sell 1.9725/35 , should give another entry for those who fancy shorts, but still holding short 1.9729.

Unless it just runs down from here.

 

[trendie]

Confirmed shorts im reading, look to sell 1.9725/35 , should give another entry for those who fancy shorts, but still holding short 1.9729.

Unless it just runs down from here.

hope its finally turned.
Stochs (21,10,20) turned down on 30-mins.
ideally, a pull-back on the (5,3,3,) to OB and fall, to form the Jimmer pattern.
(but I am already in, but it would be good to see the pattern)

EDIT: I like a_gnomes channel viewpoint.

 

[jacinto]

took a long at 13. brain connected quickly with hand and closed for zero.

guess im bored. time for a break.