FX Trading: week 8th - 14th July

1. Where's cable going? 2. How many pips do you want this week?


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Afternoon all,
T2W still seems to be playing silly buggers today - lots of refreshing required.

Long cable this morning at 152, took off half at 179, trailing a stop on the rest. It's a bit of a slow grind today as others have commented.

Closed out the second half for +90. Today turned out better than I thought :cheesy:
 
Shorter than a midget dwarf with no legs now! :cheesy:

(apologies to any amputee midget dwarfs amongst us) :eek:
 

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Shorter than a midget dwarf with no legs now! :cheesy:

(apologies to any amputee midget dwarfs amongst us) :eek:

Ah! I was wondering why there was such as sell-off at that level - your chart explains it.
 
FWIW, short again from 225.

Oh fffffffffffffffffffffiddlesticks. Perfect timing, not. Having come within an oink of beating my personal Fastest 50Pip Loss (Non-NFP Day Class) record, I'm still hanging in short. Although it's tempting to get out for -20 now, surely 270-ish was the ceiling? Any guesses what might happen when Mr Burntcakes speaks...
 
true, but then on the other hand, i may keep laughing all the way till the end.

Well my outlook for the week was $2 - 2.02 but this is going all the way to $2.0280 by the end of the week.


If you guys are talking about Mexico v Argentina, my bet would be on Mehico. They've done it before and they can do it again...


Good luck y'all...:)
 
Oh fffffffffffffffffffffiddlesticks. Perfect timing, not. Having come within an oink of beating my personal Fastest 50Pip Loss (Non-NFP Day Class) record, I'm still hanging in short. Although it's tempting to get out for -20 now, surely 270-ish was the ceiling? Any guesses what might happen when Mr Burntcakes speaks...

IMO, the top that the Pound has might get tested again and even broken. In the next few hours we should all be able to tell. The bull is not dead, yet. A good downmove is on the way I believe, just not now.

IMHO Phil, 225 was not a good price to go short; contrarily it is a good price to go long! If only for a decent gain. If you make a decent profit with that short, my opinion would be to exit with those profits. Now just isn't the right time to be taking shorts, you can certainly get a better price. Just my 2 pips.
 
If you guys are talking about Mexico v Argentina, my bet would be on Mehico. They've done it before and they can do it again...

Good luck y'all...:)

it is worse to face argentina, this is Mexico 50%B 50%A vs Argentina A.
 
Do you mean 50% B team or something else with the B & A?


only about 5 players from the mexico squad that played argentina on the last world cup. the rest are newcomers that are doing things very well.
 
only about 5 players from the mexico squad that played argentina on the last world cup. the rest are newcomers that are doing things very well.

Well I wish you good luck as after the past football occasions with the England team I doubt I'll ever cheer for Argentina. Don't mention the war...:cheesy:
 
After yesterdays moves across the board one wanders whether today will be a consolidation day at least before the US open. The USD wekness might still continue, but the cracks shall also appear in other currencies too. Cable is likely to test 20300 sooner or later, on daily chart the trend is up, though as for today it is well positioned at the top of the trading channel. So some move down would be nice to establish the longs again. Happy trading to all.
 
mm still bullish this am , just got to screen and taken long 2.0287, lofty price but up it says......

took -48 loss on my last short yesterday, which undone all earlier gains, super prod it was through 220. I threw in the towel, watching the ascent like a big finger being hoisted :)


How high maybe a china man, but how high is cable gonna go against the dollar......?

long at the toppish 2.0287 , see what happens...
 
mm still bullish this am , just got to screen and taken long 2.0287, lofty price but up it says......

took -48 loss on my last short yesterday, which undone all earlier gains, super prod it was through 220. I threw in the towel, watching the ascent like a big finger being hoisted :)


How high maybe a china man, but how high is cable gonna go against the dollar......?

long at the toppish 2.0287 , see what happens...

morning all,

same here CB, looking for a long. want to wait for a pip through 2.0300, and a pullback to around 2.0295 for an entry...... if it pulls

was reading that yesterdays dollar weakness was "subprime mortgage induced"......wonder if that is the case.

edit: im in now long from 90.
 
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was reading that yesterdays dollar weakness was "subprime mortgage induced"......wonder if that is the case.


Moody’s credit rating agency downgraded some $5 billion worth of US debt backed by ‘sub prime’ mortgages yesterday spooking the $. Onwards and upwards.....
 
Morning all,
I'm rather annoyed with myself for having got out too early yesterday instead of holding it overnight. It then presents a real problem of how to get back in in a sensible low-risk trading. I think it was CB who recently mentioned the quote from "Reminiscences of a Stock Operator" about losing one's position. Perhaps he can remind me of it so that I can add it to my signature.

Good trading to all.
 
morning all,

same here CB, looking for a long. want to wait for a pip through 2.0300, and a pullback to around 2.0295 for an entry...... if it pulls

was reading that yesterdays dollar weakness was "subprime mortgage induced"......wonder if that is the case.

edit: im in now long from 90.

guess i miscalculated the potential pullback for best entry. stop is at 70, which is now at risk. dont know if it was the right thing to paper trade last week. the emotional side of it is most definitely different.

edit: this last move up gave me an exit for -3. dont like the 60 min bar. could be very wrong and miss the move up to 350, but got to recognise when i am at risk of making a mistake, may get a new entry later on. dunno
 
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morning all,

same here CB, looking for a long. want to wait for a pip through 2.0300, and a pullback to around 2.0295 for an entry...... if it pulls

was reading that yesterdays dollar weakness was "subprime mortgage induced"......wonder if that is the case.

edit: im in now long from 90.


hi jacinto, i was late to the screen and saw entries around 8 am, 265/70 odd, would of taken that, but I didnt set the alarm, so late to the party, so inferior entry i see it 287 but says get long, so i'll have to allow a stop point based on entry at 265/70 although im in higher, not ideal, but i'llrisk it. and have done.


subprime mortgage ? whats that ?
 
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