FX Trading May 28 - June 1

[zuke]

Morning all. Nice work Jilly! Another positive day for you. I am biased long, but on the sidelines until I get a better entry.

 

[oiltanker]

thinking about jilly's excellent overnight system [ i have been watching other currencies with it] logically as long as the actual is trending and the price cascading like water down [or up!] the daily steps then most of the time it should work? the time you get unstuck is at the turn of the trend and ranging periods. Fridays seem to be 'profit' day and so can end the day perverse in terms of the thurs pattern of high lows.

One can trade it daily but for me perhaps an extension of the power of the system is to start the trade in the direction of the highs lows and as long as at the end of the day you have the same high low signal [or low high] then the trend is in and one could leave the trade in day after day [with trailing stop] till you get a reversal pattern? ie turn of trend or ranging period. where's that demo account...and oh, thanks jilly

 

[trendie]

post 9-am: looking more like a break-out strat more appropriate for today.
will stick to the break-out levels as per Boll-band ranges.
(didnt notice until I took the short, that the 9740-ish levels were lows of y'day, so support.
but if they break, whooopppeee).
maybe a bit more bouncing around. need to monitor lower-highs to re-confirm short.
on the 4-hrs, there are 6 4-hr bars congesting, supporting zukes idea of a possible move up.

 

[Crap Buddist]

-1, triggered long, 19757, not waiting for entry 50 ish or better, Just got long. see if this one gets any further, or more whipp

 

[hornblower]

I have a buy signal on my 15 min chart
but I am going to wait and if we have a break out above 19772
before I trade it

 

[trendie]

okely-dokely: short 1 lot at 1.9743 (boll-band squeeze thingy)
seemed a bit expensive. optimal price around 58 or 63. (where CB went in!)

out for -25.

EDIT: actually, -26. exit price 9769.

 

[trendie]

with 10-mins to go to close of hour, is there forming a small-bar indicating reversal at the boll-band?
(i is becoming increasing apparent to me that:
a: I seem to seek out reversals more than trend-continuations!! (may have to change my nick)
b: I still have a fixation for shorting over going long)

or is too close to news time, and thus TA is over-ruled by news-volatility?

 

[JillyB]

We have GDP announcement at 1.30pm today, but I don't really expect this to change the overall direction much. I think we will continue this slow downtrend until tomorrow where we will see the overall low of this trend hit and then the start of the new uptrend formed when we get the NFP data in.

I'm revising what I said earlier - silly girl got her dates mixed up and thought it was Wednesday (one day holiday on Monday and I get all confused!) The low of the current trend should be formed today - and not tomorrow - the uptrend should start from today and continue into tomorrow with the NFP.

 

[trendie]

I'm revising what I said earlier - silly girl got her dates mixed up and thought it was Wednesday (one day holiday on Monday and I get all confused!) The low of the current trend should be formed today - and not tomorrow - the uptrend should start from today and continue into tomorrow with the NFP.

[I must learn to read properly]

I just read "news" and thought you were referring to: (source: FF calendar; these are "red"=important announcements)
12:30 USD GDP Annualized q/q (r)
13:45 USD Chicago PMI

are you are follower of Taylors 3-day method or something?

 

[smbtnt]

with 10-mins to go to close of hour, is there forming a small-bar indicating reversal at the boll-band?
(i is becoming increasing apparent to me that:
a: I seem to seek out reversals more than trend-continuations!! (may have to change my nick)
b: I still have a fixation for shorting over going long)

or is too close to news time, and thus TA is over-ruled by news-volatility?

I use to suffer from point a + b syndrome, I found trading indices and equities along with forex helped me correct this. Otherwise making any money on the dow past few months would have been an impossibilty.

 

[zuke]

OK, just taken a short from 9795 (stop 9825, target 9735) based on my thought that price would boounce of the "Vegas" tunnel on the 1Hr.

Here's hoping!

 

[trendie]

I use to suffer from point a + b syndrome, I found trading indices and equities along with forex helped me correct this. Otherwise making any money on the dow past few months would have been an impossibilty.

maybe thats where I am going wrong - I trade cable predominantly, actually, exclusively.
(if you only have one trade running on cable, you tend to over-play its importance to the account)
trading signals off a whole range of markets will help to take away the perceived specialness, and thus reduce over-analysis of moves and second-guessing.

 

[JillyB]

[I must learn to read properly]

I just read "news" and thought you were referring to: (source: FF calendar; these are "red"=important announcements)
12:30 USD GDP Annualized q/q (r)
13:45 USD Chicago PMI

are you are follower of Taylors 3-day method or something?

No, I'm trying the market matrix and IF (and that's a big IF) I've calculated it correctly, then we should have a turn point today.

 

[smbtnt]

OK, just taken a short from 9795 (stop 9825, target 9735) based on my thought that price would boounce of the "Vegas" tunnel on the 1Hr.

Here's hoping!

I was eyeing the 9820 zone to take profit on the long triggered off support this morning, might tighten the trailers....

 

[trendie]

No, I'm trying the market matrix and IF (and that's a big IF) I've calculated it correctly, then we should have a turn point today.

you are my hero!

I can only make the Delta points work in retrospect, and only by giving a lot of leeway to the analysis, which I would not do if I had money on the line.

hope you can give a review of it at some point. your opinions will carry much weight. (hope that doesnt worry you)

 

[smbtnt]

maybe thats where I am going wrong - I trade cable predominantly, actually, exclusively.
(if you only have one trade running on cable, you tend to over-play its importance to the account)
trading signals off a whole range of markets will help to take away the perceived specialness, and thus reduce over-analysis of moves and second-guessing.

I opened an IG Index account and also downloaded Windor Direct's demo version of metatrader to give me extended coverage of what was going on in the commodity/stocks/indices and forex markets. This has enabled me to concentrate on my grail setups over a wider audience as opposed to 'over-analysing' GU/EU as you so aptly put it.

 

[smbtnt]

OK, just taken a short from 9795 (stop 9825, target 9735) based on my thought that price would boounce of the "Vegas" tunnel on the 1Hr.

Here's hoping!

Does the Vegas incorporate the 365ma Zuke? We bounced off the 365 on the 4hr this morning giving weight to longs.

 

[Offshore Trader]

Came to close my long cable just in advance of the figures to find they had been leaked. Not happy....

 

[oiltanker]

if cable is still in downtrend [based on the previous day H/L] then the 7998 [r2 on my chart] would be the high for the day.

 

[oiltanker]

but it will need to take out the morning low. otherwise looks like trend turn?