FX Trading: week 16th - 20th July

[Priceman]

Long EUR/JPY and short cable on breakout trades. Some movement on EUR/JPY is a little overdue....

Sorry OT my 4 hour strat gave me an ideal entry long at 93 so I'm long. Stop was yesterday's low of 460. Bit nervous about the long so will watch closely each hour!

Here's the latest from actionforex...
http://www.actionforex.com/forex_an...ke_testimony_ii_&_fomc_minutes_2007071925196/

 

[jacinto]

Sorry OT my 4 hour strat gave me an ideal entry long at 93 so I'm long. Stop was yesterday's low of 460. Bit nervous about the long so will watch closely each hour!

Here's the latest from actionforex...
http://www.actionforex.com/forex_an...ke_testimony_ii_&_fomc_minutes_2007071925196/

i just took a long from 97. small trade

 

[Offshore Trader]

Stop loss at breakeven on cable and EUR/JPY.

 

[2be]

i just took a long from 97. small trade

I have indication for todays L as 472, and H 591, so I shall wait to enter the long a bit lower with a SL a few pps below 461 wit a poss spike to 566 as my target ( a few pps below this target) A very tight SL is required as we might be very close to the top of the cable range.

 

[2be]

I have indication for todays L as 472, and H 591, so I shall wait to enter the short a bit lower with a SL a few pps below 461 wit a poss spike to 566 as my target ( a few pps below this target) A very tight SL is required as we might be very close to the top of the cable range.

Long @ 489 SL 457 Target 560

 

[jacinto]

I have indication for todays L as 472, and H 591, so I shall wait to enter the long a bit lower with a SL a few pps below 461 wit a poss spike to 566 as my target ( a few pps below this target) A very tight SL is required as we might be very close to the top of the cable range.

mmm, think you are right and were wise of waiting.

i already closed it for -8 when price failed to continue higher.

good luck.

 

[oiltanker]

small short triggered at 89

against the trend so close limit

update
jumped out for +10pts.

i prefer to go long so will see what us open does.

s1 pivot is at 2.0474 and yesterday low around 460ish so it'll need some umph to get through them?

 

[2be]

mmm, think you are right and were wise of waiting.

i already closed it for -8 when price failed to continue higher.

good luck.

I have set a Sell Limit@ 562 with SL@575 Target 480
Still nursing the longs as I have bought the second lot @472 with SL@457 Target 560

 

[2be]

I have set a Sell Limit@ 562 with SL@575 Target 480
Still nursing the longs as I have bought the second lot @472 with SL@457 Target 560

Closed both longs with a moderate gains due to time laps and no much move.
The projected Low for the day has been satisfied with not much upward challenge within the London session which is my main trading time,though I have left the order to sell the limit @562, just in case.
Happy trading to all.

 

[oiltanker]

i need break of 500 to go long [pivot, psychological round number and 50% retrace all around there]. I guess gdp news at 9.30 will decide momentum?

 

[Offshore Trader]

Breakout levels for me 522 and 478. Also long EUR/JPY hoping that we see a break of 169

 

[jacinto]

morning.

trend is up, so only looking for longs. but.....got a feeling it will go down.

 

[Offshore Trader]

Breakout levels for me 522 and 478. Also long EUR/JPY hoping that we see a break of 169

Long cable but out of EUR/JPY. Very frustrating pair last few sessions.

 

[oiltanker]

been triggered long at 512
1st target r1 527
2nd target 540ish

update

1st lot out at first target for 14pts
stop b/e on 2nd lot

unlucky on eur/jpy. its supposed to have over 90% correlation with cable [more than the euro!]

 

[jacinto]

unlucky on eur/jpy. its supposed to have over 90% correlation with cable [more than the euro!]

really??? didnt know that. guess i need to look for another pair with low correlation such that when cable or euryen do nothing, i still can have some fun somewhere else.

nice trade by the way.

j

 

[oiltanker]

hi J

the daily correlation chart is the second one
its been a strange week as the usual 4 , eur, cable, swiss and yen have not been in sinc or rather cable has been doing its own thing.

http://www.mataf.net/en/forex/trading/correlation/table/

i think its been a really tough week. its hard to go long at all time highs and when pull backs have been small leaving, according to my trend system, these scalp type trades?

 

[jacinto]

thanks for the link oiltanker,

know what you mean with it being a tough week. im starting to think of a short here, but will pass. for some reason, think the congestion we have 470-540 will stand unscathed till next week.

j

 

[oiltanker]

yes a short above 530 'looks' an easy trade back to 490 but i don't like shorting against the higher time frames

missed my target by 2pts and looks like its going down to stop me out on second lot. lowered target to 535.

edit
out at b/e

 

[jacinto]

yes a short above 530 'looks' an easy trade back to 490 but i don't like shorting against the higher time frames

same here, intuition said short, 15 min bars said short, 4hr chart said long. and the 4hr now has the same control over me as my wife so couldnt go against a direct order for my sake

sorry for your last lot.

 

[2be]

same here, intuition said short, 15 min bars said short, 4hr chart said long. and the 4hr now has the same control over me as my wife so couldnt go against a direct order for my sake

sorry for your last lot.

Short @532 SL572 Target 1st 503 2nd 462