FX Trading Week Sept 10 -14

[TheBramble]

BoE flushed £1bn through the banks to help dampen short-term interbank lending rates (and nerves) last week.

They have another £4.4bn ready to follow this week if necessary.

None of which is going to make any material difference to Cable specifically of FX generally.

I'd be surprised in 9/11 has had any influence at all.

 

[hornblower]

BoE flushed £1bn through the banks to help dampen short-term interbank lending rates (and nerves) last week.

They have another £4.4bn ready to follow this week if necessary.

None of which is going to make any material difference to Cable specifically of FX generally.

I'd be surprised in 9/11 has had any influence at all.

If the boe had not flushed 1bn through the system , the the market would have gone down , is that not support ?
looking a the charts some markets are just going up and down by 10 or 15 pts I call that manipulation

 

[rnl16616]

I would like to see cable going up from here ~20310, to continue on its long term uptrend. Long term trend is clearly up if you look at the two year [or longer] chart and last trough 19624 [Jun07] to peak 20655 [Jul07] is still in tact despite drop from 20655 to 19654 [Aug07].

As always, time will tell...

 

[TheBramble]

Frankfurt and London 'Open'

A 36 pip wide inner band from 2.0321 to 2.0357 giving us a reasonably wide 2.0289 to 2.0389 (100 pips) outer band to bounce around in for intraday work. Hardly scalps with that width of play.

I'm still short for the longer term (see posts above) and probably a little tight on my stop if I'm honest, but not going to do anything just yet. (Takes a while to get back 'into' the flow....and I'm only using seed corn funding, so no sweat.)

I'll be happier to see it find resistance at the inner lower band (2.0321) [which is also my entry} and what it delightfully meander on down through the lower outer band - and stay that side! Let’s see.

 

[TheBramble]

If the boe had not flushed 1bn through the system , the the market would have gone down , is that not support ?
looking a the charts some markets are just going up and down by 10 or 15 pts I call that manipulation

What markets are you looking at - FX?

Governments and banks do not have anywhere enough money to make even a small blip by themselves. They need to manipulate sentiment to make that happen. They flushed the money through the UK banks so the banks could sleep a little eaiser short-term lending to each other and not be overly concerned about getting it all back - not the markets.

You can choose to call it what you like, but the skill is in trading it, not naming it or finding rationale for it.

 

[brutusdog]

There we go + 10 pips without any stress at all........
I hope you enjoyed this trade...
What was special about this trade...
Confidence...
Right timing and
Minimal risk value....
Goodnight all
Happy Trading...
10 pips a day is enough for me to live happily ever after......lol

Hope this helps....

10 pips per day, great mentality.

its a marathon not a sprint....

 

[rav700]

Good Morning all,
So what have we hear today...markets with noise....rumours...where are the technicals in all this...
I have a theory...If you go into the city with your windows shut and some decent music to listen to it make your journey easier...similarly in forex I think that if you stop paying attention to the 1000 sources of who is saying what and I thinks.....then you can definately make some decent pips....
I will try and post a bit regularly to help the newbies who read these post refrain from the mistakes that I made earlier in my trading days....
What are my views for today....
Target 10 pips.....
When....let me after my forex brain wakes up...
Good day to all
Priceman....you have got me posting again....

Best of luck
Happy Trading
Rav

 

[rav700]

Hi Priceman,
Anyway just FYI...
I went long on gold @ the beggining of the month is suppose to be the best month for gold and so far so good have locked in some good profit Will close my trade

I have just shorted the EUR\[email protected] with a stop at 158.18...Why a 100 points so I dont have to keep looking at my screen...haha lol as if..... target 157.75

Rav

Well I closed my trade @ 157.88 as I dont really find the need to stress about this trade..I made my 30 pips on this trade....

So my pip basket has a total of +40 for a nights work in it....

Happy Trading
Rav

 

[rav700]

Hi Bramble,
Good to see you on the boards again to...
Happy to see you posting on the boards again
Best of luck Rav

 

[rav700]

I do agree with you hornblower...The idea is when you are scalping well this is my technique.....
New Range....
First touch 30 short 2nd touch 30 short.....and First touch 45 long 2nd touch 45 long....
First touch 85 short 2nd touch 85 short......and First touch 10 long 2nd touch 10 long....

Happy Trading

Rav

According to Rav's theory I shoud have gone long at 45...missed out damn...
No Problems...

 

[rav700]

I am pretty sure we will see 85 but...am I taking an entry now NO not at all because I have missed my entry point...as I dont want to stress about my trade...
I shalll see you all at NY session now....Good day

 

[shadowninja]

Hi all,

"First touch 30 short 2nd touch 30 short.....and First touch 45 long 2nd touch 45 long....
First touch 85 short 2nd touch 85 short......and First touch 10 long 2nd touch 10 long...."

Can you explain what you mean by this?

Thanks.

-Darren

 

[rav700]

Hi Darren,

I am a scalper and my target pips per trade vary from 5-10 pips...
So when cable jumps into a new range
ie a new 00
When it touches for example 2.0030 then short it with a target of 10 pips------
When it touches for example 2.0045 then long it with a target of 10 pips------

And so on I hope this helps......
See according to this theory you would have made 20 pips already since last night....
You should always look at you technicals while trading as well..but it generally works...dont jump into any trade blindly do what what the chart tells you not your heart...

Happy Trading
Rav
Hope this helps....

 

[shadowninja]

Thanks. So you're basically, taking advantage of the price bouncing between a high and low?

 

[rav700]

I do look at 4 other indicators.....my friend....so Ican confirm opening trades as well...stops are based on 3 and 4 Hour candles....but yes that is the jist of it ..no point over complicating your trading....

 

[rav700]

Long at 45 stop at 30 target 55.......................

 

[TheBramble]

I would like to see cable going up from here ~20310, to continue on its long term uptrend. Long term trend is clearly up if you look at the two year [or longer] chart and last trough 19624 [Jun07] to peak 20655 [Jul07] is still in tact despite drop from 20655 to 19654 [Aug07].

As always, time will tell...

You may well be right. Or the last major low (17/08 at 1.96510) could be the first sign of a reversal. We'll not know for sure until either 2.0655 gets breached to the high side or 1.96510 to the low side.

What do I know? I'm out for another -19.

I would go back to the drawing board, but I had to sell it to pay the rent....

 

[TheBramble]

10 pips per day, great mentality.

its a marathon not a sprint....

Horses for courses. If Rav is making +10 per day and has a position size to make it worthwhile for him, who's to say.

I'm currently in for the long haul on Cable so am with you in terms of timeframe, but that's just a personal preference for me at this time. I've also traded intraday Cable in the past for +20 targets before now and been more than happy with a few of them each day.

I'd rather be making one lot at +10 than 2 lots of -19.....

 

[rav700]

Okay update on my trade.........came out at +2 on the other trade where I was long at 45...not much...mom for me....

If you have any other questions shadowninja please feel free to pm me...
Priceman where are you hiding....

 

[Priceman]

It's the Rav show at the moment and I'm loving it! Welcome back matey. :cheesy:

Ok my take on cable...
Clearly got higher highs and higher lows and we are now and crunch time for either the break up or down. I favour down but not before getting some more suckers in on the long side. If I had to pick a figure for the upside I'd go with 450. But I don't do that anymore I just hop on and off and take my little bit! That's a bit more longterm than you probably want.

All the best, now where are all those others that used to post? Get on here and tell us what's on ya mind! Tradin of course I've not gone agony aunt on you!