Currency trading (Aug 21st > 25th)

[Offshore Trader]

I really expect a test and break of 1.90 today but I'll be ready with tight stops because I haven't got a good handle on things today

 

[wasp]

DC made a wise decision to take this week off!

 

[hornblower]

I was looking to short from 8940
but it just dont want to go down

 

[Priceman]

I'm short too from 39, maybe the US will fake it lower at the open ready to buy it up when the news comes out...

or is that just wishful thinking !

 

[coolTrader]

wow what a few weeks. spke and stop ah I am still in my Eur position. would have been better to close at the top But will like to see where it is heading. scalped some for the news too. Staying away from Gbp for now..

 

[Offshore Trader]

Lost money today, which isn't surprising with all the false breaks but kept it under control, so still well up for the week. I still think the test of 1.90 will be decisive but if it comes today I'll miss it because I'm giving up until tomorrow

 

[wasp]

Are we working ourselves into this little corner and we will burst out with vengance soon?

Not sure what would do it this week but hopefully something soon...?

 

[wasp]

Can the new home sales do the job?

 

[coolTrader]

Can the new home sales do the job?

find out in a few minutes

 

[jonnyy40]

17pips slippage on IB.Previous worst was 10.Worst day I've had in a long time but once bitten twice shy.

 

[coolTrader]

The market does not seem to be going up thats for sure.

 

[wasp]

Just noticed we have GDP in the morning, hopefully that'll be a good mover before Bernanke later

 

[jonnyy40]

I was just going to write 'it's waiting for GDP' hopefully that'll be a good mover.After yesterday's stop debacle I'm going to be doing a lot of testing and thinking.

 

[wasp]

Are IB normally good to you then Jonnyy40? (few problems etc)

 

[jonnyy40]

normally but I got complacent yesterday and then you pay.

 

[Offshore Trader]

1.90 today anyone?

 

[wasp]

1.90 today anyone?

Man on a mission to that 1.90 aren't you!

Would be good though!

 

[mike46]

Man on a mission to that 1.90 aren't you!

Would be good though!

Has anyone had a look at the monthly chart for Cable ? I see a head and shoulders forming albiet with a sharply sloping neckline. Interesting thing is the recent high around 1.9140 was within 3 pips of the first high in the formation way back in early 2004 !!!

Daily charts are in a tight consolidation so we should be on guard for a big break soon but I'm starting to lose my conviction that Cable has a real chance of vaulting 1.9500.

Always like to keep things in perspective !!! profitable trading to you all.
Mike

 

[Offshore Trader]

Yes. I spotted that a few weeks ago, although it doesn't really bother me as I'm strictly a day trader. Until the right shoulder is resolved either higher or lower, the pattern has no validity. For really long term players it could provide a good opportunity. Not many of those reading these pages though

 

[hornblower]

1.90 today anyone?

my target for today is 956, we shall see