FX 2007 > Week 19 -23 Mar

[mercury7]

DC....does that mean you will enter a long at 671.....and short when price reaches 524...or have i got it wrong??? maybe the long is an exit at 671, and the short exits at at 524 ummm. Maybe . Guess its the phrase "turn" that doing my brain in lol

 

[rav700]

DC....does that mean you will enter a long at 671.....and short when price reaches 524...or have i got it wrong??? maybe the long is an exit at 671, and the short exits at at 524 ummm. Maybe . Guess its the phrase "turn" that doing my brain in lol

This my understanding of DC2000's Position he has a third position from the 400 region which he will run till 671if it gets there and then he will short from that point onwards.....

Happy Trading
Rav

 

[Atilla]

Too much resistance at 590.

I've closed my position. +4 pips. Better than a poke in the eye :cheesy:

 

[mercury7]

thx Rav...much appreciated

 

[rav700]

How Do you position yourself in a market like the above.........................
Okay let look at the facts......
Why is the market doing what it is doing ....the traders are all waiting for fomc...obviously....
What is the Technical status...Overbought ....So why dont we take a short....Due to the statement that is just about to be released also......There has to be one more final run up....to kick out all the stops for most short term scalpers\ traders....

What are the 2 trades you could consider ......
Risky: Long @ 07 target the 27 zone for 20 pips stop @ 89
Short @ 75 target the 55 zone for 20 pips stop @ 95
Less Risky Trade: Short @ 515 target 400
L Long @690 target 800....( I doubt this would happen unless the fed mention the rate cut)


Any comments.....

 

[dc2000]

Hi Mercury7
The one third trade that Rav mentioned was taken off yesterday at 621

My current position is I have a short 614 target 534 this will take profit on short and go long
I also have a long 586 target 671 this will take profit on long and go short

Once one target is hit all positions will be closed on the next target hit, No turn, ie if we hit 524 first all positions will close at 671 this is due to time constraints of taking three weeks off from tomorrow

 

[rav700]

CAD News out

 

[dc2000]

How Do you position yourself in a market like the above.........................
Okay let look at the facts......
Why is the market doing what it is doing ....the traders are all waiting for fomc...obviously....
What is the Technical status...Overbought ....So why dont we take a short....Due to the statement that is just about to be released also......There has to be one more final run up....to kick out all the stops for most short term scalpers\ traders....

What are the 2 trades you could consider ......
Risky: Long @ 07 target the 27 zone for 20 pips stop @ 89
Short @ 75 target the 55 zone for 20 pips stop @ 95
Less Risky Trade: Short @ 515 target 400
L Long @690 target 800....( I doubt this would happen unless the fed mention the rate cut)


Any comments.....

when do we short? tomorrow
the less risky shot looks way too risky the target of 524 is there but if its on a spike there is a chance of it going 10 pips below which would fill the short trade right at the low

 

[mercury7]

Many thanks DC for explaining your strategy...now with all the facts it makes sense to me....

Good trading.

 

[Hook Shot]

Rav $/Y looking interesting not sure if you're still watching it ...

 

[rav700]

Rav $/Y looking interesting not sure if you're still watching it ...

Spot on I have got my eyes peeled to it at this present momment..................

 

[rav700]

Right the boards are as dead as cable is.........understandly if that is a word......
How do we trade cable at 6:15 ....I think this would be a nice topic for the afternoon for new position traders

 

[29Investments]

I hate FOMC day - must remember to go and do something else in future and just trade the evening................................yawn

 

[29Investments]

Right the boards are as dead as cable is.........understandly if that is a word......
How do we trade cable at 6:15 ....I think this would be a nice topic for the afternoon for new position traders

I would guess that anything that they do come out with is likely to send the mkt in 1 direction or the other and that input (if mkt moving) is likely to at least affect the mkt sentiment in terms of days or hours rather than minutes or seconds. I.e. if they come out and say that inflation is still a prime concern we should see a drop in cable of a resonable size and one that isnt likely to whip straight back up again.

Therefore I am tempted to place an OCO order with a sell 20 pips below the mkt and a buy 20 above it, which ever one gets tripped should yield at least 50 pips and (depending on the strength of statement) possibly a new short/medium direction.

Each order will have an IF DONE SL of 20 pips

.............As usual all IMHO etc...

Good Luck/Good Trading

 

[rav700]

I would guess that anything that they do come out with is likely to send the mkt in 1 direction or the other and that input (if mkt moving) is likely to at least affect the mkt sentiment in terms of days or hours rather than minutes or seconds. I.e. if they come out and say that inflation is still a prime concern we should see a drop in cable of a resonable size and one that isnt likely to whip straight back up again.

Therefore I am tempted to place an OCO order with a sell 20 pips below the mkt and a buy 20 above it, which ever one gets tripped should yield at least 50 pips and (depending on the strength of statement) possibly a new short/medium direction.

Each order will have an IF DONE SL of 20 pips

.............As usual all IMHO etc...

Good Luck/Good Trading

I am sending you some info on a trade for tonight ...please check you P.M

 

[Priceman]

well looky here then, just got back in from work and logging onto my marketmaker software from CMC and it's decided it needs a 9Mb upgrade completing now... why didn't it do it some other time? Surely can't be dirty tricks can it

Anyway, let's see what this baby will give us tonight then... any thoughts chaps? I am still not convinced we ain't seen the finish of the upside like DC predicted. Me I'll try to wait 15 minutes after the news to get the true direction... been burned too many times before with slow fills. News aside anyone else think more upside? Great idea from 29investments on the straggle.

Good luck chaps,

 

[Atilla]

well looky here then, just got back in from work and logging onto my marketmaker software from CMC and it's decided it needs a 9Mb upgrade completing now... why didn't it do it some other time? Surely can't be dirty tricks can it

Anyway, let's see what this baby will give us tonight then... any thoughts chaps? I am still not convinced we ain't seen the finish of the upside like DC predicted. Me I'll try to wait 15 minutes after the news to get the true direction... been burned too many times before with slow fills. News aside anyone else think more upside? Great idea from 29investments on the straggle.

Good luck chaps,

TA is bullish
FA is bullish

Will I trade before speak? Noooooooooo! no! no!

I like the idea of just waiting it out a little.

However, I'm also looking at going long on gold and SPX.

Watching, waiting and listening at the mo.

 

[rav700]

Hello Guys,

Well 10 mins to go for the mins......I have to be very disciplined to trade these reports........
My Personal thoughts to this are that there will not be a change in the statement and they will also say that they will be vigilant of inflation......
Hence I will wait for cable to get to its highest point and short it...................
Happy Trading
Rav

 

[Priceman]

Hello Guys,

Well 10 mins to go for the mins......I have to be very disciplined to trade these reports........
My Personal thoughts to this are that there will not be a change in the statement and they will also say that they will be vigilant of inflation......
Hence I will wait for cable to get to its highest point and short it...................
Happy Trading
Rav

You make it sound very easy mate... where exactly will the highest point be? Best of luck to ya anyway...

Fingers by those buzzers chaps....

 

[Atilla]

You make it sound very easy mate... where exactly will the highest point be? Best of luck to ya anyway...

Fingers by those buzzers chaps....

I was left flat fingered.

Still watching...

Instjncts were right though right direction but implementation out the window...