Euro/$---GBP/$ Where now?

[nickerson334]

Hi User

Hope you had a good weekend. I'll be shorthing the Euro at 750 as an inverse high tight flag to 650 an 600. Stop at 780.

I expect to see it back at or over 900 by weekend though!

 

[User]

Hi, I'am thinking along the same lines, having said that not 100% sure, might end up waiting for what Trichet has to say tomarrow.

I agree some what with your '12900 by the end of the week'

Lets see hey.
Interesting

To other members, don't panick if you have open long positions as trend remains in tact.

 

[User]

At present, I'am thinking that it might be an idea to put two order positions in before Trichet speaks tomarrow.

It worked extremely well last week before Greenspan spoke.

Anyone else tempted?

 

[nickerson334]

Yeah, and don't panic about anything Mr. Nickerson334 posts....he's wrong half the time!!



Yeah, long term if it heads to far below 600 I'd say its' a hefty pullback

 

[User]

Who's wrong half the time? Me or you? :cheesy:

 

[nickerson334]

Hi User

I am! Proud of it too. I make a lot of money being wrong half the time!

Must try a fundemantal strategy at some time. Yours sounds like a good plan.

Have you every tried using the pre-release analysys consensus and then trading when the number breaks live? i.e. weaker than expected US jobless figures = short the dollar.

Will test it .


My little technical flags are hopefuly breaking down . Run rabits, run!

Must sleep now........zzzzzzzzzzzzzzzzzzz

 

[User]

Doesn't matter who's right or who's wrong half the time.
Is the glass half empty or half full, as long as the glass has something in it, its better then being empty.

Yes I have and to be frank the forex reacts on the dot so you haven't got much time to catch the move if any. The best way is when you know a currency is in anticipation for a figure or statement, watch the trading range and put two orders in before the release, that is very effective as you catch the move, who cares which way.

Isn't it past your bedtime?

I'am trading the Nikkei whats your excuse?

 

[nickerson334]

Bought long Gbpusd Cup and Handle at 865. Target 940, Stop 844.

 

[User]

Still thinking about putting two orders before Trichet speech, possibly as follows:

Sell at 12720
Stop loss at 12750-60

Buy st 12770-75
Stop loss at 12740-50

These figures are not 100% as you can see. If your thinking about doing something similar Nickerson or anyone else for that matter: then the Trichet conference is at 2.00ish. Do not put orders in early. Place at around 1.00-2.00. That way you can see how the Euro beens trading.

If its trading in a small range then its 100% in anticipation for Trichet, for its breakout of the day.

The tighter the trading range the easier to trade using above.

Currently trading around 12750. Pivot point of the day.

 

[nickerson334]

looks good on the technicals too User.

 

[nickerson334]

Can't make head or tail of gbpusd at moment. Have sold out my long position. Will take the day off I think!

 

[User]

Are the currencies that flat without American money! :cheesy:

I put two orders in as suggested before: the buy order got filled at 12778.

Not much happening at the moment still holding position.

Still will use my strategy for this week as big U.S figures will again trigger great moves, hopefully better then the volatility today!

keep you posted.

 

[nickerson334]

Yeah the pounds been up 100 ticks and back 50 again now so there's movement. I think it's partly theholiday + consolidastion after a big move.

 

[User]

Oh I didnt take much note, been looking at the euro and a few shares. Starting the week flat but still in confident mood for the week to make gains.

Todays so quiet compared with Friday. Had to keep my eye on shares, indicies, forex and some commodities-flat out it was!

 

[User]

Tomarrows euro vs $: FA: Watch out for a few figures coming out, along with RBA Deputy Governor Stevens' speech on monetary policy.

For TA approach note that the euro has sustained itself above 12750. This will act as key support in order for a move higher. Next target is to sustain above 12772 which could break a move higher then 128.

Monday's euro position got settled at a 12772. Starting the week with a 4point loss.

 

[The Baptist]

GBP USD entry

Hi,

I have seen some interesting commentary on the £ vs $. I used the following pattern for my initial 1.82 entry and successive adding to my position. It makes for a favourite set up of mine.

I have attached my chart of the set up. If any one could have an inkling on how to code up MS 8.01 for scanning for this pattern I would be very greatful.

All the best with the forex trading, I remain long in anticipation.

 

[User]

Didn't get chance to get into euro been out all morning. Hope someone else did though, looks like my interpretation of FA and TA was spot on.

Long term last week pound position recovered after Fridays panick, currently gaining 85points.

Nickerson did you get in on anything today?

 

[hammer]

Hi user, how you doin? I been reading this thread for a little bit now. I trade mainly the GBP/USD but sometimes the euro too. How have you been doin today? I missed the big rise this morning too, was asleep! Caught a few points at the top though.

 

[User]

Hi Hammer, I trade everything really, but forex is the most interesting for me. I'am afraid I didnt catch todays moves as I was out all morining. But I would have done if I was present as the analysis I posted last night was spot on.

I've got a GBP/$ position from last week gaining 100+ bought at 18775 June contract.

Having missed todays moves I wasn't too disapointed as positions on Nikkei, S&P, Nasdaq100, Dow Jones, FTSE all did excellent. Vodafone, Royal Sun, Royal Bank etc didnt do to bad either.

What else do you trade apart from forex markets?

 

[hammer]

Well done on the June dow. I used to trade only the indicies, started with ftse, then cac, dax and dow. Recently moved to forex. I am fairly new to trading so still finding my feet. Have studied it for a while but have only actually been trading for like 5 months.
At the moment im long on the dow at 10693. Flat on forex markets. Althought looking for bounce up on gbp to go long.