FX trading Nov05 - Nov09

[Crap Buddist]

Here comes the market Forecast from the BBC

Cheers bb, handy info, I must admit since boarding to ampro Ive started to glance at BBC charts. Big Boys Charts. So i'll be able to put those levels on.

Cheers mate.

 

[ampro]

bullish from 237.50/60, see if we get a kick back up.... from here on... testin that ol 37.60, again ? will it close below it? my setup suggests not likely..... early days mind..

I'll leave all this hootin & hollerin to you CB. These levels are now well bedded, & I'm done adding & cashing (& chasing) it back up inside this range.

Remaining stops being hauled up to (my) fair value at 236.55, which if compromized tells me I'm done on this leg for now.

Similar on EURJPY at 164.80.

Ensure you're wearing good grips on your shoes This thing is slippin & slidin all over the shop this week!

 

[Crap Buddist]

I'll leave all this hootin & hollerin to you CB. These levels are now well bedded, & I'm done adding & cashing (& chasing) it back up inside this range.

Remaining stops being hauled up to (my) fair value at 236.55, which if compromized tells me I'm done on this leg for now.

Similar on EURJPY at 164.80.

Ensure you're wearing good grips on your shoes This thing is slippin & slidin all over the shop this week!

hmm wise move....

Ive trying reversing short 236.91, taking a hit on the 3755 long. looks like a lot of sell orders have been triggered , hope theres a few more coming though and the asians feel patriotic or something for a few hours

mind you its 237.10/20 at the mo, good recovery, see if it sells off again ,else i might not be able to sit down for a week....

cheers ampro..

 

[Mr.Black]

I am short on EUR/USD on signal from My Trend INdicator

 

[hornblower]

I am short on EUR/USD on signal from My Trend INdicator

Hi Mr B
you start early in the morning
nice to see you around again
and good luck with your trend indicator

 

[Mark R]

GBPUSD-todays opening

Hi,I'M pretty new to forex and for the last few weeks have been trading breakouts of the asian highs/lows with some good results- today on London's opening the movement on cable seems to be really eratic- anyone any ideas as to why?
rgds,
Mark

 

[ampro]

Hi Mark,

Keep a regular eye on your events calendar. It'll forewarn you of any key economic releases & items of interest printing during the trading week.

Today we got the BoE & ECB interest rate gig + Bernanke is talking later on in Washington to Congress during the New York shift.

These ongoing events will be closely watched by the players (well, the smart ones anyhow) & can often cause erratic or skittish behaviour as they come into focus.

 

[Crap Buddist]

GBP JPY hmm just booked another loss 3754, missed the roll over long 2630 as I rolled over asleep .... my setups still bullish from 236.30. but I'll be sidelined for a wee while I think. Until the next one rolls along, but looks like it could spring higher from 3760 though.....

 

[bbmac]

Mark; Ampro's answer is spot on, but the other reason is 'cause it did.' This is sometimes the only reason, ie the market was undecided about it's next movement, which can happen ahead or even after fundamental data/releases or indeed at any time.

 

[MSP Trader]

CAble all the fun of the fair

Hi everyone,

Well first i hope you are all fairing well in the market? as a position trader i have followed the market long for the last 35 days, but things are getting dire for the $ now, and personally i think the $ is about to give the pairs a taste of their own medicine and a correction is well in order.

After looking whats around in the news the UK housing market not looking at all strong and the goverment playing with numbers to make us all think that ya we are not that bad really (NOT) i wouldn't be surprised to see the $ correct and catch everyone with their pants down.

But is this a £ story or a $ story?????? who knows. for me i am now looking for my short entry. And with the current state of things who knows? even the BIG players have thrown in the towel and have become sheep, (but we all know sheep get KILLED)

Anyway be safe out there and may the force be with you..........

 

[Crap Buddist]

need to get long, need to get long.....

 

[Crap Buddist]

hmmm, 2.10 cable did come to mind a few weeks back, new high taking out 650 odd and UK rates to ease, maybe fed not cutting as hard? so maybe its up with events, and i did here dollar crisis mentioned, but the US dont mind weak dollar$ ?

hmmm trades back through 650 odd close below it, might be a positional short ? interesting to hear people talking about Could the euro be a global currency reserve, maybe the times, they are a changin ?

 

[bbmac]

All but a done deal that £ will be n/c today re MPc rate decision staying at 5.75% ?, and it's likley € will stay with n/c also at 4.00%. here's the link for the live webcast of trichet's press conference scheduled for 13.30pm gmt. http://www.ecb.int/home/html/index.en.html for those who should get out more often!!

MNI 'bigging up' 2.1134 as 'near term' tech target for the long side being the 1.618% fib extension of 1072-0971, a projected channel top from Jun 2006 at 1140 just above that.

They go on '...offers remain at 1035-50 1070/80 then likely 1100-10 in protection of an option barrier thereabouts.'

Asian/overnight range of 1032-0971 with a false break to the upside repelled at that 1035/50 area back inside, trading at 1022ask as i write this.

Certainly a 0.25% cut shoud see it sell off for now as a knee jerk at least, from these lofty levels.

 

[Crap Buddist]

I have a theory therefore I'm long ?

hmmm just had a look at cable daily, wouldnt like to short it looks like a monster, that 650 short idea doesnt look right ? if anything back to it and up ? but I guess if you go with the flow, then I cant see a reason to sell , what if the market trades it up and up and up ? trading can be tough, I mean do we over think these things ?

That thought was inspired by an oil analyst from the other day. expert in knowing oil and the analyst was in the headlights of "I dont know, it could do anything" you can see why trading your analysis of the market or a market doesnt or isnt always helpful, big heavy chains.

nice to natter about these things though...

 

[MSP Trader]

the times, they are changing.

the only way to find out is wait and see...... for the euro to become the reserve it would have to be alot stronger than it is now, plus the euro is still an infant, my friend the euro zone is not as strong as we are lead to believe it is.

it a waiting game and after all if i may quote.....

"What goes up must come down" Isaac Newton.

but hey thats what makes a market "difference of opinion"

 

[bbmac]

30min chart tells the story of this Gbpusd consolidation off the highs best at the moment. 1071-0971 100 pip channel congestion with most price action occuring inbetween the inner lines.

 

[MSP Trader]

30min chart tells the story of this Gbpusd consolidation off the highs best at the moment. 1071-0971 100 pip channel congestion with most price action occuring inbetween the inner lines.

yep break out or stay in range..........

one way or the other it has to do something lol what WHO KNOWS!!!! as am GOD DAME SURE I DONT

but i can hope a brave man to short...... (and i am holding on to my socks)

 

[ampro]

hmmm just had a look at cable daily, wouldnt like to short it looks like a monster, that 650 short idea doesnt look right ? if anything back to it and up ? but I guess if you go with the flow, then I cant see a reason to sell , what if the market trades it up and up and up ? trading can be tough, I mean do we over think these things ?

Maybe take a look around at the alternatives CB, if/when one or two of the more popular pairs aren't playing ball or muddying the waters?

Aussie is another big muscle out there v/s Yen. It kicks off it's relative s&r zones pretty neatly when price hots up.

I realize you prefer to execute off the fast frames, but striking off the signals from the leader frames will still get you placed with good risk & value if you want to bounce them back & forth, rather than wait until they move in tandem with the larger flows.

Peak-trough behaviour on this kiddie is a real beaut to chase on the lower timeframes

It's just sometimes nice to turn your back on all the ballyhoo & breath the fresh air

 

[Crap Buddist]

the only way to find out is wait and see......

it a waiting game and after all if i may quote.....

"What goes up must come down" Isaac Newton.

but hey thats what makes a market "difference of opinion"

yeah, why not do that with our trades? back to the analyst mindset , and has cable started coming down yet ? thats the interesting thing are we trading our mind,somebody elses or the markets?

Good post...

 

[bbmac]

Credit Suisse revising 3mth targets as follows, sees:

eurusd at 1.51, gbpusd at 2.0970, and usdjpy at 111 with usdchf at 1.09

says the 'apparently accelerating slump in usd deserves a fresh view.'