FX 2007 > March 12th - 16th

[29Investments]

Personally I won't play DOW short, the thing is way too biased to only go one way and that's up. Prefer to go long DOW on major pullbacks and even then I don't like the overnight carry rate.

Just think there has to be some fall out from the technical damage done 2 days ago when we took out the previous low at 12038. Sharp reversal seen from sub 12000 lows just temporary in my opion and cant see many wanting to go into the weekend long, so looking for weakness accellerating later in the day.

 

[Uphios]

looks like Im the only one bullish cable

575 baby 575

Could be right. It's not that I'm not bullish, I'm just damn poor at targets, could go to 620 as far as I can see but anywhere between here and there a turn is due.

Now of course if I had access to your method..............

 

[rav700]

Short@70 stop at 510

I am out @ +2 for now will jump in after the news :cheesy:

 

[Atilla]

Flag on 15 min cable, waiting for a sustained brake either way.

Cable looks very bullish at the mo with Price and MAs all crossing to the upside. Bit dissapointed I didn't jump in at the 1.9220 level wanting it to touch 1.92 but at least I have my mental sanity and the same old money in my pocket :|

Given the release of stats and turmoil in markets, todays play is for the real hard core traders. I'm afraid of the volatility of seismic moves and so I watch listen and learn.

If the Dow doesn't hold 12000-12100 level then it will sink lower along with SPX.

1. Sinking indeces likely to strengthen $ imo. Less trade less dollars.
2. Inflationary pressures likely to sink $ too. But interest rate expectations raise value of $.
3. Gold seems to be up around 650 from 640 levels again which bodes well for inflationary pressures and $ to fall further.

I would guess the Fed is like a little soft white rabbit in front of a juggernaut with its full beam on. Which way will it turn:
a) left or right?
b) Will it turn back or carry on running to the other side?
c) Ofcourse it could run towards the juggernaut or run away from it chasing it's shadow ahead of its self.

If I was the little white soft rabbit with a juggernaut heading towards me - with a full hard on beam, I would stop in the middle of the road do nothing but duck with my ears between my legs.

Good trading everyone...

 

[29Investments]

I now have a MACD positive cross confirmation of the upmove on my daily chart. Should defn see 9650 poss 9830

Hourlies overbought tho so looking for pullbacks to buy on

 

[wasp]

looks like Im the only one bullish cable

575 baby 575

Not the only one mate, busy sorting a mates laptop and saw it and couldn't resist, although my target is only 540... I am on holiday!

 

[Atilla]

I now have a MACD positive cross confirmation of the upmove on my daily chart. Should defn see 9650 poss 9830

Hourlies overbought tho so looking for pullbacks to buy on

I think the market is losing faith in the Fed to raise interest rates.

I think a high CPI stat is likely to be very significant today.

Also if industrial production is down that will be double whammy.

I also see a Symmetrical triangle (daily) on the charts and this should carry upwards in it's trend. Although we migh get some pull back from 1.9540 levels.

 

[Uphios]

OK I'm out, for no better reason than I couldn't resist bagging the 250 points offered. Not shorting yet, can't see any reason to.

 

[rav700]

Well 499....It doesnt wanna touch 500 does it.....DC give it a kick mate

 

[29Investments]

FWIW FXCM Page has now gone long at 490 after fibo break and is looking for 675

 

[Crap Buddist]

FWIW FXCM Page has now gone long at 490 after fibo break and is looking for 675

Bloody hell , it's topped then..... where are they advising clients to put stop's?

 

[rav700]

Long @ 80 waiting for it to break 500
Stop @ 45

 

[29Investments]

Taken profits on half position at 473, moved stop to 445 on remaining

Taken all profits at 480 as 485 not held - hoping for pull back (poss after cpi) and will then re-restablish longs.

 

[dc2000]

third and last entry 474

 

[29Investments]

Bloody hell , it's topped then..... where are they advising clients to put stop's?

9400

 

[29Investments]

third and last entry 474

DC You're obviously quite long now - are you going through all the data ?

 

[jacinto]

morning, havent made a live trade for some time. looking for an entry on a swing short on eurjpy. looking for a decent move down (some 200 pips or more). lets see if it happens. lookinf for entries around 155.50 to 70 mark, already missed preferred entry at 60 due to schoolrun.

j

edit: in at 155.53 and a 30 pip stop

target 153.00

i have scrapped this short at BE, reentered and closed again at BE. I am not comfortable with price action at the bottom of the day, yet happy with lower highs. 4 hour printing a spinning top, and I will wait and see if in the next 4 hour bar there is an interesting entry.

edit. it is a bit annoying. to try a new setup, one on a paper trade, the other for real. the paper trade well into profits (+120) the real trade, 2 attempts and BE. that is life. what can you do.

 

[Phil Mibbutz]

FWIW FXCM Page has now gone long at 490 after fibo break and is looking for 675

With my so far conspicuously unsuccessful longer term strategy, I've been looking for 710 since Feb!

 

[rav700]

Another try to break 500 or do fxcm know something that we dont

 

[29Investments]

China are going to diversify their foreign exchange reserves which are currently in excess of 1 Trillion USD.

They will be doing this gradually and dont want to whack the value of their USD investments but this must be good news for Long Term USD bears.