FX Trading October 1 - 5

[Mr.Black]

I am short on EUR/USD....:cheesy:

 

[JillyB]

I am short on EUR/USD....:cheesy:

Good call there. Where do you intend to take profit - at the lower channel? Do you lock in some profit once the price has moved down or just let it go?

I went short on the Cable overnight with an entry at 2.0436, I exited a little early this morning (ususal thing got to the computer and saw I had a healthy profit so wanted to take it). Glad I did though, because by the time it got to the system exit it had reversed.

I netted +58 pips last night, but the system recorded +26 pips. :cheesy:

Both the EurJpy and UsdJpy both resistance in the early hours of the morning and there doesn't appear to be any potential trades for the start of the morning, but I will update after 8.00am if any materialise.

 

[TheBramble]

Cable Short Term Analysis

Inner Band 0407-0420.

Outer Band 0375-0452

Currently (08:29 BST) bouncing between the inner and outer lower bands at 0385.

Lower inner has provided two areas of Resistance, Lower Outer two of Support. A confirmed third touch on either might suggest a range day.

Certainly signs of shorter term weakness so I wont be buying the dips right now. I’ll either short the next touch of the Lower Inner band (0407) or any breakthrough the Lower Outer (0375) with retest and confirmed as new Resistance.

I’ll set stops and target on entry.

 

[JillyB]

EurJpy broke a rising trend line earlier in the morning and came back up to touch the underside of it. Unless you were at the pc at 6.00am this morning you would, like myself, have missed this one.

It has now just broken and closed below another low set at 5.00am yesterday morning and below this there is space for it to fall into. Currently looking for an entry point for a sell trade on this.

 

[shadowninja]

Made 50 pts overnight. Thanks, JillyB.

I am short on EUR/USD....:cheesy:

Have you changed country?? Your calls used to be around late morning. Now they are just after I've gone to bed! Looks like it was a good one for you anyway.

 

[jacinto]

EurJpy broke a rising trend line earlier in the morning and came back up to touch the underside of it. Unless you were at the pc at 6.00am this morning you would, like myself, have missed this one.

It has now just broken and closed below another low set at 5.00am yesterday morning and below this there is space for it to fall into. Currently looking for an entry point for a sell trade on this.

hi jilly,

i have missed 2 trades there, first one short during child-feeding, second a long just now as i was away on the schoolrun and just came back 5 mins ago.

in anycase, guess today is one of those days where overnight price action across different pairs make me be very wary of direction. euryen has taken a pitchfork, yet has bounced off resistance turned support.

for the time being, my best guess is consolidation, and as such i will have to sit on my hands until i see something worth trading. probably i already missed a very good entry long at the support base, but well,

i prefer to have a saying that goes "you win some, you miss some"
rather than
"you win some, you lose some"

 

[JillyB]

EurJpy broke a rising trend line earlier in the morning and came back up to touch the underside of it. Unless you were at the pc at 6.00am this morning you would, like myself, have missed this one.

It has now just broken and closed below another low set at 5.00am yesterday morning and below this there is space for it to fall into. Currently looking for an entry point for a sell trade on this.

Well so much for good intentions - stopped out of the trade at -30 pips.
Setup looked ok, traded the plan - it just didn't work out this time. That's life (and trading) I guess.

 

[Mr.Black]

Made 50 pts overnight. Thanks, JillyB.



Have you changed country?? Your calls used to be around late morning. Now they are just after I've gone to bed! Looks like it was a good one for you anyway.

I am trading from Bulgaria....:cheesy:

 

[Mr.Black]

I am covering My short for 24 pips profit....:cheesy:

 

[Mr.Black]

Good call there. Where do you intend to take profit - at the lower channel? Do you lock in some profit once the price has moved down or just let it go?

I went short on the Cable overnight with an entry at 2.0436, I exited a little early this morning (ususal thing got to the computer and saw I had a healthy profit so wanted to take it). Glad I did though, because by the time it got to the system exit it had reversed.

I netted +58 pips last night, but the system recorded +26 pips. :cheesy:

Both the EurJpy and UsdJpy both resistance in the early hours of the morning and there doesn't appear to be any potential trades for the start of the morning, but I will update after 8.00am if any materialise.

My profit target was .....1.4180...something like measured move 1.4170 + 10 pips ....:cheesy:

 

[shadowninja]

I am trading from Bulgaria....:cheesy:

Oh, ok, I guess you trading early in the morning then!

 

[TheBramble]

Inner Band 0407-0420.

Outer Band 0375-0452

Currently (08:29 BST) bouncing between the inner and outer lower bands at 0385.

Lower inner has provided two areas of Resistance, Lower Outer two of Support. A confirmed third touch on either might suggest a range day.

Certainly signs of shorter term weakness so I wont be buying the dips right now. I’ll either short the next touch of the Lower Inner band (0407) or any breakthrough the Lower Outer (0375) with retest and confirmed as new Resistance.

I’ll set stops and target on entry.

Currently below the lower inner band. Still not convinced the worm has quite turned just yet (even with that move above the upper iner band). Would be more convinced of a fall back through 0407 (which it just has) and a re-test and confirmation as Resistance than any other development at the moment, but lets see what it wants to do. Will take a Short if 0407 proves to be new local Resistance.

On the other hand, a another move and close above 0420 with re-test (proven Support) and I’ll see no reason not to go Long. This is less likely in my view at the moment. But again, lets see.

NB. In my earlier post when I suggested a potential short at the ‘next touch of the inner lower band’, let me explain what a touch is and what a touch isn’t.

A touch is the gentle, delicate, almost but not quite just touching and playful prodding that you might enjoy on and around a particularly erogenous part of your body with an object that you find quite appropriate to be there, doing that to you. That’s a touch.

See that 5 min bar (11:00-11:05). Well, imagine that lower inner level is that same tender part of your anatomy and that 11:00 bar is a large rusty nail and the close is a barb. That’s not a touch. Anyone still having problems comprehending these nuances, just contact me and I’ll arrange a demonstration that will leave an indelible imprint on your mind, as well as your body.

 

[TheBramble]

Closed my Short just above the lower outer band.

Highly speculative Long with a very tight stop on an expectation of another go toward the top of the range.

 

[jacinto]

today is a day in which i am not liking what the charts tell me in the different crosses, probably i am simply not understanding them.

i am reading conflicting signals, support levels are being tested and respected on the pairs i like to trade (except for EURUSD perhaps), and overnight action has signalled tops on the making. I dont know.

It is smelling similar to the carry trade scare of a couple of months ago. I cant see bond yields, but wonder how 10 years are behaving. And, on the other hand, have been reading in several places about central bank intervention. I dont know which.

Therefore, i have decided to give trading a miss today. As Clint Eastwood says, " A man has got to know his limitations" and today, i know i am limited (things may always change later on, but dont think i will change my mind ).

I hope you all have a profitable day

 

[tightstops]

long euro for a couple of hundred stop 4130 looks pretty good to me im in at 45

 

[jacinto]

Which CBs? Haven't heard anything myself either on the wires or direct from other mates in the market. Bit of reserve diversification but that's not really the same thing as intervention (and i) occurs far more frequently, ii) is used as something to blame when someone wants to tell customers what's causing movement but doesn't know - hard to deny).

Chin up mate - there will be other days. My advice though is if you're going to leave it alone do so properly - don't just sit there watching all day - get some fresh air etc.

GJ

hi gamma,

the CB part, if you dont know it, then i dont know who can know it. there was chat (cant remember which news provider, so sorry there) for the Aussie (i know they have interest rate decision today, but this was mentioned), and was reading also a rumour for Eurozone officials seeking a tougher stance on weak dollar on the next G7 (clearly it is not the same Eurozone official than BCE, but still).

anyway, probably just looking for an explanation for price action i cant understand (time frame for this statement is 4hr in my case).

You are right. platform is closed now. tomorrow will be a new day.

hope the market doesnt give you a headache

j

 

[TheBramble]

Closed my Short just above the lower outer band.

Highly speculative Long with a very tight stop on an expectation of another go toward the top of the range.

And out again. As I said first thing this morning, had all the makings of a range day.

Still, we have another 3 hours or so for a breakout, but I'm happy to grab +30 back and forth a few times.

Short again at 0415.

 

[TheBramble]

Closed 0407 for +8.

The 0407 level is the lower inner band. Price is dying there a the moment and I don't like idle funds.

Take a look round the other FX majors and see what's on offer and get ready for PM trading the US.

I'll come back and have a look later and see what's on offer.

Adieu.

 

[_coda]

Hi there

As a total neophyte, I want to thank you all for threads like this. I am learning so much that it's like a master class.

I'm trading EURJPY and USDJPY and managed to catch the break that Jilly refers to this am.

EurJpy broke a rising trend line earlier in the morning and came back up to touch the underside of it. Unless you were at the pc at 6.00am this morning you would, like myself, have missed this one.

I wish I could say it was skill or something like that, but it was dumb luck. I was trying do something, I can't remember what, and suddenly found my self on the wrong side of the trade. As it looked really sluggish I decided to ride it out, and early this morning I found myself on the right of +60. +60 which I messed up and dropped 20 of due to finger trouble.

I've been sitting on EURJPY and USDJPY long since this morning, determined to turn it into something. I thought that there was a close correspondence between the two, but they have been doing slightly different things. I find myself on the right side of the USDJPY trend (should rather be called a crawl) and on the wrong side of the EURJPY, although both were entered almost simultaneously.

According to my trading plan, I suppose I should have dumped the EURJPY several times, but I keep on thinking that the USDJPY is working, so it'll come back. Most of the time It's just shaving the underside of my entry, so I'm keeping it for now.

Once again, thanks to you all, I've got a long way to go, but you're helping immensely, specially with the annotated trades.

rgds

 

[Crap Buddist]

Colonel Coin , EURJPY BULL MODE

Despatch From Colonel Coin. As the Colonel says, "Charlie dont surf"