FX 2007 > Week 19 -23 Mar

[2be]

I think after all my studies ,research and Trading plans have been amended I am going to probably sit on
the sidelines and try and pip the aussie as it is nearing a top and seem pretty safe and also put my swissy trade in ...till I get some kind of confirmation on cable......

so here goes my order on the other pairs:
Both are medium term trades -----5-10 Days
Short on AUD\USD @ 0.7958 with a stop @ 0.8000 My Target on this trade is 0.7858
Long on USD\[email protected] with a stop @ 1.1975 My Target on this trade is 1.2173

My Targets are based on a minimum of 100 pips to be achieved and then adjustment of stop loss according to positions.....

Happy Trading

Rav

Looking at the USD index on daily chart there seems to be reversed Head & shoulders. Fri Close 83.23 and there is some more downward momentum pressing USD into the region of 82.50. If that is broken on downwards move then USD will go down like a lead balloon, if however it bounces from these levels, we might see a moderate pullback up. For now the bias seems to be down.
How exactly the USD Index translates into currency pairs, I do not know, apart of adding a sentiment value. Vaguely USD/CHF are in a kind of sinc and Cable and ED are inverse.
In short/medium from the above USD might still weaken. These are very long timeframes and for short term trades one has to be vigilant.

 

[Atilla]

Looking at the USD index on daily chart there seems to be reversed Head & shoulders. Fri Close 83.23 and there is some more downward momentum pressing USD into the region of 82.50. If that is broken on downwards move then USD will go down like a lead balloon, if however it bounces from these levels, we might see a moderate pullback up. For now the bias seems to be down.
How exactly the USD Index translates into currency pairs, I do not know, apart of adding a sentiment value. Vaguely USD/CHF are in a kind of sinc and Cable and ED are inverse.
In short/medium from the above USD might still weaken. These are very long timeframes and for short term trades one has to be vigilant.

Nice BB brakeout occurring at the mo on my 5min charts. If 1.94 is not broken and price drops down through 1.9390 I'll be shorting.

Last two Sunday night / Monday mornings have been pretty seismic. See what happens this morning... :|

 

[2be]

Nice BB brakeout occurring at the mo on my 5min charts. If 1.94 is not broken and price drops down through 1.9390 I'll be shorting.

Last two Sunday night / Monday mornings have been pretty seismic. See what happens this morning... :|

Nice gap on EUR/JPY, High probability trade either gap confirmed or a powerful island, risk worth a few pips either way. if long shall wait for the gap to be filled.

 

[Atilla]

Nice BB brakeout occurring at the mo on my 5min charts. If 1.94 is not broken and price drops down through 1.9390 I'll be shorting.

Last two Sunday night / Monday mornings have been pretty seismic. See what happens this morning... :|

False brake out.

See if it brakes above 1.9430 now.

 

[2be]

False brake out.

See if it brakes above 1.9430 now.

Sydney gets in 15 min , only Fiji exchange active now???

 

[2be]

Sydney gets in 15 min , only Fiji exchange active now???

Eur/jpy order B~155.02 SL 154.85 Limit 155.43

 

[rav700]

False brake out.

See if it brakes above 1.9430 now.

It has been bouncing of 25 all friday evening so I totally agree with you on that one....I dont know why but this is the 1st time cable is confusing me....May I should not trade this week......

 

[2be]

Eur/jpy order B~155.02 SL 154.85 Limit 155.43

Order EUR/JPY [email protected] SL155.02 Limit152.90

 

[rav700]

I would hate to fade dc cos.....I aint tried before but this is the one time I think it will atleast pull back to 350 minimum......come on dc write something....hahah....

I am cool mate Just joking .....I am not trading cable until I have got a positive direction and will jump on the train which ever direction it goes in....

Best of luck Atila

Happy Trading
Rav

 

[2be]

It has been bouncing of 25 all friday evening so I totally agree with you on that one....I dont know why but this is the 1st time cable is confusing me....May I should not trade this week......

Cable might be rage bound if so short trades in London and N York hrs are good, otherwise there is no sleep.

 

[dc2000]

hi Rav just throwing some numbers around for the swissy

 

[Atilla]

I would hate to fade dc cos.....I aint tried before but this is the one time I think it will atleast pull back to 350 minimum......come on dc write something....hahah....

I am cool mate Just joking .....I am not trading cable until I have got a positive direction and will jump on the train which ever direction it goes in....

Best of luck Atila

Happy Trading
Rav

I think 1.94 is likely to be a big battle line this week.

Tuesday - retail sales
Wednesday - budget day and Fed day
Thursday - BoE
Friday - could be a killer day with Housing restart figures.

What a week eh? Cable is bound to rumble this week.

I think through out Monday it's going to wiggle it's ar5e sideways

Will sit up until around 12:30 to see if we have big shifts like last couple of weeks.

 

[dc2000]

churning the numbers brings a target 2189 only problem is we should see 1983 late Monday /early Tuesday first

 

[dc2000]

anyway back to cable looking for a good first half of week a couple of up days then sell positions Wednesday and book a flight outta here

 

[rav700]

churning the numbers brings a target 2189 only problem is we should see 1983 late Monday /early Tuesday first

Thanks DC for that ......I have got a good enough stop for the swissy trade.....
Best of luck for the coming week.....hope you get your tagets on cable....

I was supposed to take this week off according to my trading plan.....so this week might work out well lets wait and see.....

FOMC and BOJ are the only main market movers this week
With the FOMC pause being a definate but the wordings in the statement....being important about inflation.......

 

[rav700]

See what I mean about the 25 mark it just will range between that and 10 so it is a very tight range....I am going to take a rain check going to sleep.....
Famous last words from rav.....

Happy Trading Best of luck night traders.....I will play the big ben in the morning.................

 

[rav700]

Right as per my cable reco...I said there will be a travel upto 45 so I have placed my long in at 13 with a stop @85....I have my limit set @ 40/45 ie alarms have been set.....

 

[Atilla]

See what I mean about the 25 mark it just will range between that and 10 so it is a very tight range....I am going to take a rain check going to sleep.....
Famous last words from rav.....

Happy Trading Best of luck night traders.....I will play the big ben in the morning.................

Yes, I see it loud and clear...

I usually go by my BBs for the range and at the moment it's widening but not a brakeout dare I say just noise.

Having looked at it again I have a sneaky feeling it's going to

1. brake down to 1.9380 and bounce or

2. if 1.9375 is breached all the way down to 1.9310.

Will I trade? No.

Haven't got the stomach for it and will have a good nights sleep instead.

 

[rav700]

10.30 PM EST conversion to GMT anybody

 

[rav700]

I am out at +15 pips for Monday and I am now short @ 27