Currency trading (Sept. 18th > 22nd)

[dc2000]

tea, biscuits, lunch, dinner and supper DC, its a very long way when its going to go down first!

Always wiv da negative waves

 

[wasp]

Always wiv da negative waves

Nah, its just that I'm short...

 

[City Bound]

1. Monday, September 18th, 2006 (8:30 am New York Time) USA
We have U.S. current account balance coming out. This report comes out only 4 times per year, once per quarter, and I've never really seen it move the market that much because it didn't really deviate that much. Of course, in my opinion, if it really deviates A LOT, it will move the dollar related pairs, but since there is no history of how much is enough to move it, this report is riskier to trade than most others. But I am going to set very logical pairs, which I think would really affect the dollars. The chances of these triggers being hit are slim to none, but if it happens, I really believe this could potentially be a good trade. Current account is expected at -214 billion, with prior number at -208.7 billion. Logically speaking, I think if it comes out at -180 billion or less negative, that would mean that U.S. significantly decreased debt since last quarter, and it will probably be good for the dollar. Or if it comes out at -250 billion or more negative, it would be bad for the dollar, because they would've gained A LOT of debt within last quarter..

The bit in bold is wrong. It would only mean they hadn't increased their debt by as much. Cutting a deficit is not the same as cutting debt.

Just being a pedant.

 

[wasp]

Oooh! 6 more posts and I'm a legend!!! (make that 5!)

 

[wasp]

Right, both stops to +1 and relax whilst it makes its merry way to my targets....

 

[trendie]

anybody else in FXIgors paltalk?

 

[wasp]

anybody else in FXIgors paltalk?

Nope. Are you? Any good?

 

[zuke]

Morning all. Just scanned my 19 pairs, Gold and Crude and not one set up yet! Grrr! Oh well, patience is a virtue they tell me.

Wasp, good trade on the NOK, I am looking to long it, but havent seen the right set up yet and also conflicting info on the SEK so on the sidelines for now.

 

[trendie]

Nope. Are you? Any good?

so-so. just going over set-ups and describing trades.
although room described as "live calls", none as yet.
looking at 15-mins. (I prefer waiting for the better 60-mins, anyway)

 

[wasp]

Hi Zuke, not been watching SEK much. Which do you pair it with EUR or USD or...?

NOK was a bit of a gamble this morning as I am trying this whole price action malarky today so only have a blank chart with just bars to guide my way.... interesting stuff, certainly hurts the brain a bit more!

 

[dc2000]

Nah, its just that I'm short

Sorry to hear that but you know there are a lot of happy people with stunted growth

 

[wasp]

Sorry to hear that but you know there are a lot of happy people with stunted groath

Too much smoking as a young reckless teen I guess!

 

[Priceman]

Too much smoking as a young reckless teen I guess!

Goo on wasp what ya gonna say for yor 1000th... make it poignant (is that how you spell it ?)

 

[dc2000]

one more post for a leg end and as per tradition youve got top make it meaning full

as for my trading dont want to see below 770

 

[rav700]

Ok, gone long on NOK from 5150 and short cable at 8830... lets see how my PA works out!!!

looking for circa 700 on cable and 5450 on NOK with a 25 and 75 pip stop respectively


EDIT : I 'think' going by the daily chart we will see a return to the up trend line and form a double bootm around 700 and then head for new highs.

As for NOK its more a stab in the dark at a possible channel forming and the support holding.


EDIT2: Moved NOK stop to +1 and target back to 400 (no need to be greedy now!)

Good Call mate

 

[wasp]

I think closing my 2 open trades for a good healthy profit, before lunch, using only price alone, on a Monday, will do the job for my 1000th....

Cable + 55
NOK + 200

I think I'll be off for the day now, good trading all...

 

[ChowClown]

Morning all, in the wings waiting for a bo entry and forward testing an hrly swinger, currently long from the 7am bar at 8816. Stop 8795. Fib target exits.

-21 on the long and now short 806 with stop at BE. Paulson's strong dollar stance this morning helping the thrust down p'raps.

 

[trendie]

info:

CMC have added many new FX pairs.
examples:
USDNOK; 40 pip spread.
USDSEK: 50 pips spread.

 

[zuke]

Hi Zuke, not been watching SEK much. Which do you pair it with EUR or USD or...?

NOK was a bit of a gamble this morning as I am trying this whole price action malarky today so only have a blank chart with just bars to guide my way.... interesting stuff, certainly hurts the brain a bit more!

Big SEK strength against the EUR and to a lesser extent the USD, so was reluctant to go long USD/NOK. Still waiting on a set up so will wait and see.

I ONLY trade PA for my main set up these days which is off the 4H. I use a 1HR Vegas variant to capture smaller moves but that's it. At the end of the day, price is the best (and least lagging) indicator.

 

[rav700]

Aha Rav, I know where you stole these from.... you forexB******

Just trying to help the board mate and you are right it is from felix the great but I guess it will just help people with some extra info.....

Happy Trading....... :cheesy:
Best of luck for today