Currency Trading May 7 - 11

[thecurrencydealer]

what is pinbar ?

guys .... anyoen can shed some ligth ?

 

[jacinto]

guys .... anyoen can shed some ligth ?

pinoccio bar........it really is a hammer or an inverted hammer, a very large spike, open and close almost the same, the low-high of spike happens at relevant levels (i.e. fib, Round number, trendline, etc.) and it signals a rejection......pinoccio bar....long nose tells a lie.

j

 

[a_gnome]

I caught the long move up from 19936, taken half off now and stop to b/e on the rest. I expect it to come back towards the top of the channel at around 50 or 60 and then we'll see how convinced the bulls are or whether this is a fake-out to entice new longs and to get weak shorts to cover before a new move down a la Mr. Marcus.

 

[a_gnome]

I caught the long move up from 19936, taken half off now and stop to b/e on the rest. I expect it to come back towards the top of the channel at around 50 or 60 and then we'll see how convinced the bulls are or whether this is a fake-out to entice new longs and to get weak shorts to cover before a new move down a la Mr. Marcus.

OK, we've had a bounce off the 50-60 area so I'm going to trail my stop quite aggressively on my remaining half position. Stop currently at 53.

 

[jacinto]

me thinks we get the same statement, probably a mild change talking about inflation, dollar strenghtens some 50 pips and ranges.

tomorrow, we get 25 basis points increase, cable tanks.

lets see.

 

[a_gnome]

OK, we've had a bounce off the 50-60 area so I'm going to trail my stop quite aggressively on my remaining half position. Stop currently at 53.

Stopped out at 61 on the rest.

 

[Phil Mibbutz]

Remarkable how cable bounced off 2 Dollars today. Will it do a repeat performance tomorrow? Ideas, anyone?

 

[JohnG FX]

Remarkable how cable bounced off 2 Dollars today. Will it do a repeat performance tomorrow? Ideas, anyone?

I'm still holding shorts, quite a few people seem to be holding longs exepecting a .50 tomorrow. No way in my opinion. For the 10 years that the BOE have been "independant" they have neither raised nor lowered more than .25bps at a time

I'm still looking for a low into Tuesday of next week and then longs after that. the 2.0 test this afternoon was just spec longs looking for a more dovish FOMC statement, they have now covered and we will probably range 9890-9980 going into MPC decision.

Trichet probably signalling hikes further out which will give some support on EURGBP and help push GBP pairs down relatively

Overview for me... cable down hard tomorrow and into the weekend

 

[trendie]

to whomever is interested:

I was surfing FF, and found that the Vegas "tunnel trading" may be a scam!
Turns out the subscription side of things, with signals etc, has taken money, and no signals, or ability of subscribers to access site.

interesting that the system itself was freely given. and lauded. until now..
but now, it appears, it didnt work! (I dont understand that. Implies the back-testing results were taken at face-value, abd nobody double-checked.)

weird.

 

[oiltanker]

i don't understand the concept of buying systems. doesn't everyone develop their own? shouldn't everyone develop their own?

 

[fibonelli]

Remarkable how cable bounced off 2 Dollars today. Will it do a repeat performance tomorrow? Ideas, anyone?

Fib 23.6%

 

[JillyB]

Got out on the Cable this morning from a Buy trade placed last night for +24. My reason for the buy trade was that the high had formed second and it had bounced off the 61.8% fib of the days range.

I'm off to work now, so I won't be able to see the day's movement on the market until I get back tonight - Iike I said, these overnight trades suit me and I think that's what it's all about really - finding a trading style that suits your personality/lifestyle.

See you all later

 

[dc2000]

Rate hike ? Not for me Selling hard very hard @ 2.0017 later this morning

 

[Offshore Trader]

DC you expect it above 2.00 before the announcement??

 

[Phil Mibbutz]

Doesn't seem to want to go back up at the moment.

 

[fibonelli]

Cable testing Fib 50%

 

[dc2000]

will Blairs departure or the BOE be the news of the day

with the move confirmed do we care. Big bag o cash before the news

 

[ChowClown]

Rate hike ? Not for me Selling hard very hard @ 2.0017 later this morning

Interesting view, DC. Aren't the big lads loading up now for the announcement? Personally hope not, as i'm short (vebo), but seems a screaming buy again from the 50% retrace (daily).

 

[dc2000]

short now 897 large posish

 

[dc2000]

typo should read 887