Friday August 29 2014

FXRaySpex

Newbie
4 0
audjpy buy to 52
audusd buy to 401
euraud sell to 988
eurcad sell to 216
eurchf sell to 27
eurgbp - avoid
eurjpy - no idea
eurusd - not a clue
gbpchf buy to 213
gbpjpy possible sell to 171.44 but least favorite.
gbpusd - no idea
usdcad - no idea
usdchf - ditto
usdjpy possible sell to 103.42 but 2nd least favorite.
(hint: yen due for a nudge, but don't take that as a fade)
audcad - no idea
audchf -just edging for a possible buy to 599
audnzd also a possible buy to 1198 but as likely to head south to 1108.
chfjpy sell to 112.72
eurnzd - no idea
gbpaud - no idea
gbpcad - if I were a gambling man I'd buy to 8057, but I'm not so - no trade.
nzdchf buy to 7692

Where a buy to or sell to is given, this is the maximum I would expect on the range tomorrow. It may well exceed, and more likely not quite make it. These aren't targets but limits. If you're trading blind then you'll take pot luck and you will inevitably suffer an overall loss over time.

In each of the trades above where I've stated a buy to or sell to, I will be buying/selling with a limit at the levels given - come what may - but I'll also be bailing for less than these limits on the majority of my trades. Having a limit in mind is good - it keeps you focused and stops you getting greedy. Having an insight into orderflow and DoM and T&S gives you real-time information on price development.

If you knew the guy that was buying apples at $1/lb and had bought 2000lb at clips of 50lbs a pop was now buying max 25lbs a pop and slowing the pace to 99c/lb, you'd be thinking now wouldn't be a time to be selling apples into the market.
 
Last edited:
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock