The Pearl Fisher
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pipper said:
Hi pipper,
Is this company "progressivefx.com" your company?
TPF
Hi pipper,
Is this company "progressivefx.com" your company?
TPF
Atilla
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rav700 said:
Hi guys,
The Euro seems to have exceeded my expectations and dropped bleow 1.3350. Shame I didn't short it. I just hate losing money more than making it.
Buying opportunity and so I've gone long on the EURUSD @1.3334.
Target 1.3350 again for starters. Won't grumble if it touches 1.3370. SL @1.3315
Cable seems to have taken a tumble too. $ is quite spritely and well oiled today... :cheesy:
Atilla
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pipper said:
Cheers pipper and good work. I always wish I could leave them over night but over the weekend with a hostage crises. He who dares takes all the biscuits eh? Definately well earnt.
Rav, just watching CSI mate. Did look at GBPJPY and I'm 50/50 on it at the mo. I'll knock up a 4 hour chart and reflect on it around 11:15 if it's ok with you.
It's just that the oscillator indicators were topped out between 16th - 25th with price still booming so not sure if they are good in strong markets. Also on pivot points for the 4 hr charts price has broken through 2nd resistance and now acting probably as support arount 234.36.
I never like calling tops especially when price is so high above mi MAs.
C'ya laters
The Pearl Fisher
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rav700 said:
Hi rav.
Have you still got that last short GBP/JPY trade open.
TPF
The Pearl Fisher
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The Pearl Fisher said:
Sorry ignore that. Just seen the quotes.
TPF
Nothing for me tonight, I am trying to stay light until Thursday is out of the way so just maintaining my cable short.rav700 said:
Apart from that I have a minimum long on EURGBP that I had to do just to remind me of the margin requirement and now the bloody thing is 10 pips underwater! So my fun for the next day or 2 will be to nurse that tiny one into profit, buggered if I am going to give the market 10 pips just to find out the margin requirement!
For what it's worth on the yen I see dollar firming today across the board but still pound remains strong against all other currencies. I suspect this is to do with Thursdays interest rate call. Yen is surprising me a little with it's weakness, I think carry trade is back in fashion. So if I were playing yen tonight I would feel safer long and with USDJPY rather than GBP.
Atilla
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Uphios said:
I think you have a point there Uphios. I can't seem to get my head round working out the GBP v EUR or JPY. More familiar with currencies against the USD. I did look at EURGBP this morning and thought it was going down I think and quickly moved on.
One point where I used to lose money is getting in too quickly. Still happens now and then again. Looking at the markets for the first time around 9:30-10ish gives an instinctive feeling which usually lingers on in through the day.
Not sure about getting up at dawn to swat up for the market opening.
Anyway so far I'm 2 pips down on the EurUsd but watching it.
Atilla
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Hi night owls,
Here is my take on the GBPJPY on the 4 hr, 1 hr & 10 min charts...
=======
On the 4 hr charts 235.50 like you say Rav will be major resistance as it has been in the last two months.
Also as the 4 dashed lines show price has broken through 234.35 2nd resistance levels on the pivot points.
I think it's consolidating it's gains here. It may well trace down but I don't see it to the levels mentioned on past posts. Because there is a supporting trend line too and so I guess it might retrace to 232.50 regions but not below imo. I think this is looking to break through 235 level.
Oscillators show OB conditions but that just shows you the strength of the move I'd say with the GBP. If rates don't rise this month it's pencilled in for May / June imo. Rate rises in Japan are pretty much ruled out for some time now.
=======
On the 1 hr charts looks like a sell as price has crossed MA9 but you can see the 2nd Res Pivot point (red solid line). I can't help feeling it's going to bounce off this or 234.5 area.
Once again I can't see it going much below 232.5 regions which is the pivot point.
( I should add I'm new to pivot points and using them to compliment my SAR lines)
However, I would wait for BB to narrow and my MA9 to cross MA18 coupled with price to move for a short. As I say calling tops can be premature and it can carry on.
=======
On the 10 min looks like a sell too with a possible H&S forming. You can see the solid red line Pivot R2 at 234.36. I can't see it falling much below 233.80 or 233 levels here.
=======
In summary, I think long term there is more upside I would go long.
In short term a short looks more likely on the 10min charts but the hourly charts have not confirmed this with MA crossover yet.
Will I trade. No would like to wait for my MAs to cross over on the hourly before shorting.
fwiw If I was a riskaye kinda guy I'd go short.
Good luck guys...
Here is my take on the GBPJPY on the 4 hr, 1 hr & 10 min charts...
=======
On the 4 hr charts 235.50 like you say Rav will be major resistance as it has been in the last two months.
Also as the 4 dashed lines show price has broken through 234.35 2nd resistance levels on the pivot points.
I think it's consolidating it's gains here. It may well trace down but I don't see it to the levels mentioned on past posts. Because there is a supporting trend line too and so I guess it might retrace to 232.50 regions but not below imo. I think this is looking to break through 235 level.
Oscillators show OB conditions but that just shows you the strength of the move I'd say with the GBP. If rates don't rise this month it's pencilled in for May / June imo. Rate rises in Japan are pretty much ruled out for some time now.
=======
On the 1 hr charts looks like a sell as price has crossed MA9 but you can see the 2nd Res Pivot point (red solid line). I can't help feeling it's going to bounce off this or 234.5 area.
Once again I can't see it going much below 232.5 regions which is the pivot point.
( I should add I'm new to pivot points and using them to compliment my SAR lines)
However, I would wait for BB to narrow and my MA9 to cross MA18 coupled with price to move for a short. As I say calling tops can be premature and it can carry on.
=======
On the 10 min looks like a sell too with a possible H&S forming. You can see the solid red line Pivot R2 at 234.36. I can't see it falling much below 233.80 or 233 levels here.
=======
In summary, I think long term there is more upside I would go long.
In short term a short looks more likely on the 10min charts but the hourly charts have not confirmed this with MA crossover yet.
Will I trade. No would like to wait for my MAs to cross over on the hourly before shorting.
fwiw If I was a riskaye kinda guy I'd go short.
Good luck guys...
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rav700
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I have had my power nap and am ready to pip.............
First of all My comments about tommorow............
A very slow day.........should be a 60 point range on cable and a 40 pip range on the euro and as for gbp\jpy I am still awaiting the 235.50 dont ask why but I am sure it will attempt it......
Dont forget aud intrest statment is out at 12:30........other than that no jpy news really
So range bound trading till 12:00 tommorow........night..
Also I agree atilla and uphios we shoudl may be take a day off tommorow and be fresh for Thursday and Friday.....
The one question that has just come to mind is that NFP Friday easter friday how do the brokers deal with this one????
Happy Trading
Rav
First of all My comments about tommorow............
A very slow day.........should be a 60 point range on cable and a 40 pip range on the euro and as for gbp\jpy I am still awaiting the 235.50 dont ask why but I am sure it will attempt it......
Dont forget aud intrest statment is out at 12:30........other than that no jpy news really
So range bound trading till 12:00 tommorow........night..
Also I agree atilla and uphios we shoudl may be take a day off tommorow and be fresh for Thursday and Friday.....
The one question that has just come to mind is that NFP Friday easter friday how do the brokers deal with this one????
Happy Trading
Rav
Atilla
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rav700 said:
BH trading CMC is closed for Friday and Monday. Now that's when I'll be topping up on my power naps.
I think 235.50 likely to be reached too. As on the 4 hr charts that area was a point of support and resistance no less than 4 times over a 2 month period. That's significant SAR imo. Charts still bullish too. So it depends on your trading period.
Having been burnt last night I'm a little stand offish today. I'm down 13 pips on the day. EURUSD taking 8 of those so far.
xx_joray_xx
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hey did any just see what the aud decision was on the rate change
