Currency trading (Sept. 4th > 8th)

[martin brown]

ok, UK PMI up in a few minutes.... has the news been front run?

 

[martin brown]

ok, UK PMI up in a few minutes.... has the news been front run?

yes!

PMI 56.7 vs 57.5 expected.

 

[zuke]

Morning all, managed to get my short in at 9040 yesterday and my first TP is at 8957.

Running a 40 pip trailing stop on this now.

 

[wasp]

that 70 area is holding strong

 

[martin brown]

EU retail sales at the top of the hour.

eur/usd showing positive RSI divergence on the 15min chart.

 

[hornblower]

nice run down this morning
basing around 8983, will it fall to support at 8964 ?

 

[martin brown]

hmmm, since the data has been "front run", and all the data has been released (don't see anything due for the US session), i guess its back to "sloppy choppy" nonsense.

oh well, it was fun while it lasted!.

 

[wasp]

hmmm, since the data has been "front run", and all the data has been released, i guess its back to "sloppy choppy" nonsense.

oh well, it was fun while it lasted!.

It was just the start of the good to come... the market was just reminding us its September, its back and get ready to make some money for the rest of the year...

Maybe not today, maybe not tomorrow but soon.........

 

[dc2000]

A very Euphoric wasp I see this morning almost makes you burst into song

Lets go round again
doobe de doobe doobe do do
one more time

 

[wasp]

'tis always nice to see the market move!

 

[coolTrader]

Are we looking at 8926 today? or is it chops from now.

 

[wasp]

I favour a further drop but not before US open.

 

[dc2000]

looking ahead slightly the chaps over the pond will want to be in position for Thursday

 

[wasp]

looking ahead slightly the chaps over the pond will want to be in position for Thursday

Depending on the outcome of the announcement (analyst predictions aside) how can you position for something you don't yet know the outcome of and the consequent direction it will take?

 

[dc2000]

how can you position for something you don't yet know the outcome of and the consequent direction it will take?

you need a neutral position in the market

 

[martin brown]

you need a neutral position in the market

do you mean no position (ie flat) ?

which "pond" are you on about the european or the US

specifically which data item or event is it that you think they want to be in/out of position for?

 

[dc2000]

do you mean no position (ie flat) ?

which "pond" are you on about the european or the US

specifically which data item or event is it that you think they want to be in/out of position for?

No a neutral position that can take advantage of a move with limited risk ( say for instance if you were long Dec futures and Short Sept futures)

the pond meaning the US

and the BOE interest rate decision

 

[coolTrader]

ok we are at unemployment low . It does not want to move but it will move as soon as I put my big order :cheesy:

So we have BOE news. I have not looked that far yet. Will look at how all cable pairs are playing out later. maybe tomorrow. For now I am still looking at 1.8926 but I am currently flat.

 

[martin brown]

No a neutral position that can take advantage of a move with limited risk ( say for instance if you were long Dec futures and Short Sept futures)

the pond meaning the US

and the BOE interest rate decision

thanks for the clarification.

unless we get another suprise shock increase form the BOE, i expect it to be a non event.

unlike the FED's FOMC meeting, the BOE do not release any statement if they leave rates unchanged and do not give a press conference like the EU. The minutes are released 2 weeks later (only after all the banksters & insiders have had a butchers, and front run it!)

 

[wasp]

A very Euphoric wasp I see this morning

The euphoria continues