FX Trading April 23 - April 27

[jacinto]

FX 2007; April 23 - April 27

Will start the weekly thread this time.

apologies for not posting a poll before

j

Cable broke out from an expanding triangle and made multiyear highs, but without convincingly breaking the 1992 high.

An up channel on the 240 min and daily charts are evident, failure to break above 2.0100 convincingly would put 1.9850 (channel base at risk).

good trading

 

[jacinto]

For those interested in EURJPY

Euro yen is in a clear up channel. Last week's high touched a multiyear high (1998 high), without surpassing.

At present it could be forming a lower high and giving an opportunity to visit the low end of the channel. unless 162.40 broken, expect consolidation and-or increased risk of reversals

happy trading

j

 

[Atilla]

Economic Data - April 23rd - April 27 - 2007

Apologies for not pasting contents here but on the upside, the site provides GMT time with links to additional information.

Best to bookmark it for quick access.

 

[Atilla]

Cable broke out from an expanding triangle and made multiyear highs, but without convincingly breaking the 1992 high.

An up channel on the 240 min and daily charts are evident, failure to break above 2.0100 convincingly would put 1.9850 (channel base at risk).

good trading

Whilst being bullish on long term cable, I feel we should have some test or retrace to the new $2 mark. I've basically, applied standard error channels and one look at the trend tells me we are at the tops for both.

Also, MAs congesting coupled with narrowing of BBs. Prices have crossed MAs several times having come off the highs a little.

I'm gone short on GBPUSD and EURUSD at the moment.

I'm expecting retraces to 1.99 & 1.35 respectively to 23% fib retrace.

If BBs break out to the upside based on string of stats I'll close my positions. SL levels will be the Upper BBs at 1.3640 and 2.0100...

Good trading everyone...

 

[jacinto]

morning all,

i took a small long euryen 160.64 stop already breakeven. lets see if we can visit the highs again.

j

edit: now flat.

 

[hornblower]

seem we are all waiting for the 9.30 news
there is no conviction , to push the price up at the moment
or as they say no demand
will wait for the news

 

[ChowClown]

The auto-vebo i'm using will be long 0053, short 9954. Hoping for a useful week on the swingers. EUR/JPY, USD/CHF and GBP/USD beginning to line up...

 

[JTrader]

Economic Data - April 23rd - April 27 - 2007

Apologies for not pasting contents here but on the upside, the site provides GMT time with links to additional information.

Best to bookmark it for quick access.

Hi

I didn't have this calendar bookmarked, but have 3 others. This calendar has releases on it that the other 3 don't.
It really is a necessary pain as i see it, to have to cross reference 3-4 calendars, in order not to miss a release.
I tend to go off the forex factory calendar, and if its not on there, i consider it to be of minor significance - rightly or wrongly.

I hope the T2W economic calendar proves to be better than the rest

 

[dc2000]

mrng chaps well needless to say Im long looking at the same figs from end of last week lucky for me the market went nowhere Friday and has given another entry. It seems I had a fill then didn't :?:

who said brokers are better than spreadbetters

 

[jacinto]

my kid is still on holiday until wednesday I wonder why i bother to pay fees.

well, missed a new long on euryen. the sprog gets restless and we have to go out. so couldnt be in front of the screen to see that the new low was the last push down of that move. too bad. lets see if there is a new entry.

Does anybody trade other yen pairs different that usdjpy or gbpjpy? AUDJPY is a nice pair with clean price action when it trends.

Im staying clear from cable until tomorrow. good luck there.

j

 

[2be]

On Hourly EUR/USD looks good for a long, waiting to confirm the low on 15 min and then I shall go long in agreement with the MACD histogram on the hourly.

 

[The Pearl Fisher]

Afternoon.


I am currently short GBPUSD from Friday’s afternoon session.

I will be keeping this position open for the next day or so.


Nothing further to add regarding the direction of cable.



TPF

 

[Atilla]

On Hourly EUR/USD looks good for a long, waiting to confirm the low on 15 min and then I shall go long in agreement with the MACD histogram on the hourly.

Still short on cable and just took some pips off Euro as I have to step out again.. So far so good.

Looks like we may have a pullback on Euro. However, I'm still hoping to go short again when I get back at least for the next couple of days.

Nice to hear TPF's direction...

 

[The Pearl Fisher]

Nice to hear TPF's direction...

The direction is in the message..


TPF

 

[Atilla]

The direction is in the message..


TPF

Cable taking a dive to 1.9930 at least and probably will get to kiss 1.9900...

 

[The Pearl Fisher]

The market has now confirmed my overall directional view for cable during this current week and into the next. I see GBPUSD declining toward the 1.9600 - 1.9700 area. I see no advantage for cable to be at or around 2.0000 for any length of time. It is for this reason I sold GBP on Friday at just above the 2 dollar mark. You may see the dollar buyers gradually reappearing steadily over this time frame.

You may feel differently about the direction of cable, but at least you can compare my reasoning with your own.




TPF

 

[2be]

Got out of long positions on cable and Euro with some pps, not convinced about the overall direction, TPF, why do you think that cable shall surrender 2000 level? Is it on technical analysis or on fundamentals? I try not to have a strong opinions about it, so I am genuinely interested in other traders view.

 

[29Investments]

Boring day on cable - as per usual after a decent move we then consolidate for a while.

It would seem significant though that this consolidation is, for the large part, above the $2 mark. Also that despite repeated attempts to sell it back down, support at 1.9970-80 has thus far held.

Of course anything can happen but IMHO unless 970 is crossed I would rather be long.

 

[pipper]

Hey all, hope everyone had a good weekend.

Got a short signal on the USDJPY today at 11am est. So far up 22 pips on it.

Trailing SL of 50 pips.

Not quite sure what to expect from this pair in the coming days, but I feel good about my short.

 

[Atilla]

Hey all, hope everyone had a good weekend.

Got a short signal on the USDJPY today at 11am est. So far up 22 pips on it.

Trailing SL of 50 pips.

Not quite sure what to expect from this pair in the coming days, but I feel good about my short.

Good day on Cable and Euro today with a quick scalp on the Dow...

I'm still on the short side view for Euro and Cable but expecting some challenge from the bulls. However, I don't think they will have the same gusto as last week.

I feel we must have a decent retrace before the break away from $2 really kicks in.