Currency trading (Sept. 4th > 8th)

[wasp]

Happy days... have a good weekend all.

 

[martin brown]

1.8742 (today low) is the 38.2% fibo retrace of the 29th june -> 7th aug wave.

 

[zuke]

I was up early to trade the Yen..it really is the new Cable. Cable is soooo last year!! :cheesy:

Seriously though, I am short from 835 looking for 775 (very strong Res). If we hit 795 I will take some off the table. My stop is at b/e. So Im currently +15 on Cable...bloody EUR/JPY wont fall, so Im -16

Well after making +112 pips on EUR JPY, I hit my 775 target (+60) and took of 80% of my size. Have the remaining lots on 40 pip trailing stop and my final target is 8718.

All in all around +200 pips for the day. I will not be trading for the rest of week.

Happy trading all!

 

[rodcar]

Hi martin ,yes i spotted that and took a foolish long, small stake and tight stop. Also took a long trade in gbp aud yesterday daily trendline support and a base looking to form on the hourly chart, but this trade was stopped today at breakeven may enter again today after blair announcement.

 

[coolTrader]

Well after making +112 pips on EUR JPY, I hit my 775 target (+60) and took of 80% of my size. Have the remaining lots on 40 pip trailing stop and my final target is 8718.

All in all around +200 pips for the day. I will not be trading for the rest of week.

Happy trading all!

Well worth the early hours then. Well done!

 

[martin brown]

Hi martin ,yes i spotted that and took a foolish long, small stake and tight stop. Also took a long trade in gbp aud yesterday daily trendline support and a base looking to form on the hourly chart, but this trade was stopped today at breakeven may enter again today after blair announcement.

rodcar, in a fast moving market, you might want to "stop & reverse" (not just take a stop loss), you have to be nimble in trading fx. and if you see something that looks bullish (in a down trend), but is'nt then you have to take advantage of the situation. think like a mercenary!

 

[rodcar]

thanks martin i am learning a lot of all you traders on this thread

 

[coolTrader]

Aha! Now I get what the worry is on Blair and the markets. If Gordon Brown becomes Prime minister who becomes "Chancellor" that is what the market is concerned about

 

[City Bound]

Aha! Now I get what the worry is on Blair and the markets. If Gordon Brown becomes Prime minister who becomes "Chancellor" that is what the market is concerned about

There can't be many people as cack handed as Brown though can there?!

 

[hornblower]

I assume that the uncertainty about Blair is in the price
when he says that he dose not intend to go until next year , will the price shoot up ?

 

[zuke]

Well after making +112 pips on EUR JPY, I hit my 775 target (+60) and took of 80% of my size. Have the remaining lots on 40 pip trailing stop and my final target is 8718.

All in all around +200 pips for the day. I will not be trading for the rest of week.

Happy trading all!

Final Target 8718 hit. Aggregate of +245 pips for the day. Im not even going to go near a computer now, for fear of overtrading.

 

[martin brown]

I assume that the uncertainty about Blair is in the price
when he says that he dose not intend to go until next year , will the price shoot up ?

sell the rumour, buy the news....eh?

maybe one last fake out to the downside for all the yanks who are unaware, and then reversal..

 

[candles]

d'oh...there goes another trading account. This game is impossible. However, generally a wipeout for me happens at the end of a move. Big bouce coming up?

 

[martin brown]

why does the market feel like its fighting through quick-sand every time the US markets open this week?

are they not back from vaction yet?

lazy buggers.

 

[martin brown]

13:04 NEWS: Brown Says He Will Support Blair in His Decision-Reuters

 

[hornblower]

price starting to rise !!

 

[Offshore Trader]

Chow, I guess 4 o clock can't come soon enough?

 

[ChowClown]

..too right, OT - with the bottom today right on the measured move target (from yesterday's action), we're surely flying north soon......

 

[martin brown]

live internet coverage of the blair announcement...

http://news.bbc.co.uk/1/hi/uk_politics/5322094.stm

 

[hornblower]

live internet coverage of the blair announcement...

http://news.bbc.co.uk/1/hi/uk_politics/5322094.stm

thanks have a tv in my office