FX 2007 > March 5th - 9th

[Jack o'Clubs]

Still holding long from this morning, it's a slow day though. It looks like a late rally may happen again like yesterday... got to get past 17 first though (CMC price). Come on guys buy buy buy!! I'll watch to see the action on each hourly bar down to 15mins to scrutinise. Using indicators still but want to concentrate on price action more and more

Edit while typing, broke 17 briefly then didn't like the dizzy heights...

My view (since I also trade a form of cable b/o) is that the gorilla in the currency market at the moment is the yen, with the unwinding, rewinding or whatever's going on with the carry-trade. Until the yen calms down a bit, I think the bulk of cable moves will continue to be in the Asian time-frame. That either means adapting the strategy to overnight while it lasts, or since I like my sleep and trade other strategies in other markets, sitting this one out until it shows signs of coming round to London and NY being the main markets driving the action.

 

[dc2000]

if we can attack the 362 in the US sesh then I will jump and wait for another entry

for those interested the algorithm starts at 23:15 gmt and runs every hour until 07:15

 

[Offshore Trader]

computers dont sleep and the focus is on opportunities in the Asian markets rather than the Eu and US that could all change with a BOE rise in April and a Fed cut in the not too distant

Thanks DC. I always thought it was the lack of liquidity in Cable that caused the tight ranges but I also assume that that lack of liquidity can also cause large moves with relatively small orders

 

[neil]

Time frames

you have answered your own question
The dynamics of the market are the same, the time factor has changed twice in the last three months which doesn't help hans type breakout strats with a fixed time/price

DC is right - look at the moves in Asia just before or after midnight GMT

 

[dc2000]

no hit so will just wait for 428

 

[2be]

no hit so will just wait for 428

After producing quality tram-lines on daily chart cable certainly was not in a hurry to go north. Wander how long will it take to get to early 400ds.

 

[Priceman]

WTF ! Shake out time ! Glad I got out at the top, it was struggling to go up for sure.

 

[2be]

After producing quality tram-lines on daily chart cable certainly was not in a hurry to go north. Wander how long will it take to get to early 400ds.

Interesting cable in penguin land again???

 

[dc2000]

shakeout

now got to wait 24minutes

 

[Uphios]

Last of the carry trades making their exit? Maybe just in time for the others to be putting them back on.

 

[2be]

Last of the carry trades making their exit? Maybe just in time for the others to be putting them back on.

wander who is trading, Sydney just got in and still its going lower??

 

[2be]

wander who is trading, Sydney just got in and still its going lower??

Looks good on candles just got in on long@9282, out @9297
I am trying the strategy of placing orders at Tokyo start in relation to daily pivot points; so order to buy@9276 SL9236 Limit9330

 

[2be]

Looks good on candles just got in on long@9282, out @9297
I am trying the strategy of placing orders at Tokyo start in relation to daily pivot points; so order to buy@9276 SL9236 Limit9330

back to where cable was in the evening, range bound 9320/9340 wander for how long

 

[Offshore Trader]

Probably stuck here until BoE announcement, which I don't think will change anything, just give the green light to move. I would imagine no change is pretty much priced in and would be pretty shocked if there was a hike...

 

[29Investments]

Probably stuck here until BoE announcement, which I don't think will change anything, just give the green light to move. I would imagine no change is pretty much priced in and would be pretty shocked if there was a hike...

Yeah probably a good time to be long, as no change = as expected so no move, but +25bp = shock and large move up.

 

[hornblower]

its been poor on cable the last few days
I am short on usd/euro
and long on usd /swiss

 

[dc2000]

362 jumping off not expecting much before lunch time and not too much after

expecting rate to stay same and a 2nd entry at 200 area

 

[dc2000]

position now closed

 

[dc2000]

357/363 are key figs for the short/long trade at the moment expecting large asian move down and continue in first 20 mins tomorrow this would be after a mainly sideways day ending US sesh at 321

 

[29Investments]

Hourlies getting ready to roll over - If BoE hold as expected looking for move back down