FX Trading July 2nd > July 6th

[trendie]

The start of a new month.
(hope your June accounts showed positive growth)

So, major news event over the weekend.
Since the London events were pre-empted, and the Glasgow was botched, will markets open calmly, as opposed to potential volatility if they were open at the time of the attacks?
A twitchy week or so, as the anniversary of 7/7 looms?

 

[Atilla]

Hi everyone,

In all honesty, I don't think I quite appreciated the fragile sub-prime market in the US and it's vulnerability to high interest rates until this weekend.

There is no chance the Fed can raise rates and I continue in this view held for some time now. They can only talk tough on inflation. This view once sinks in and becomes the accepted defacto standard in the globe, dollar will continue to fall rapidly imo.

In the UK we are likely to see another rise in rates. Whilst not for sure, the likelihood is we need perhaps another rise. Hence, cable should continue in it's rise.

Also, the charts tell a similar story. There is a good chance we'll break out of the $2 level. There may be some movement down but the double support at 1.97 held well and I hold the view it will be very difficult for cable to now move below 1.98 level (My centre of gravity).

Still bullish on cable long term with a small pull back perhaps to $2 this week.

Good trading everyone...


PS. On a small note, I notice on the Poll everyweek, there is the option Not Concerned. Not Bovered. What Ever. etc etc etc...

Forgive me everyone, but if you are not bovered, why do you bother to participate in ticking the box? :cheesy:

I'm not too bothered either but isn't the point of the poll to provide and opinion in the direction of cable. Surely we have all placed long or short bets and we know the score.

We imo need the pollsters to commit as to what your view is for the week. That is what makes the poll interesting. Not if we are bothered about the $ or not.


Finally, if we are to have

NOT CONCERNED

then we should also have

MILDLY CONCERNED
VERY CONCERNED
I'M ON THE ROOF TOP

and tomorrow I'll be voicing my concerns

AT HYDE PARK CORNER (with a microphone) :cheesy:

 

[Phil Mibbutz]

I'm only mildly concerned about where it goes, so long as it's in the same direction as my trades! FWIW, I expect/hope cable will retrace slightly, then reach about 2.0150 before testing the £2 barrier again, at which point it could either bounce or do a bit of lead ballooning.

 

[2be]

Hi everyone,

In all honesty, I don't think I quite appreciated the fragile sub-prime market in the US and it's vulnerability to high interest rates until this weekend.

There is no chance the Fed can raise rates and I continue in this view held for some time now. They can only talk tough on inflation. This view once sinks in and becomes the accepted defacto standard in the globe, dollar will continue to fall rapidly imo.

In the UK we are likely to see another rise in rates. Whilst not for sure, the likelihood is we need perhaps another rise. Hence, cable should continue in it's rise.

Also, the charts tell a similar story. There is a good chance we'll break out of the $2 level. There may be some movement down but the double support at 1.97 held well and I hold the view it will be very difficult for cable to now move below 1.98 level (My centre of gravity).

Still bullish on cable long term with a small pull back perhaps to $2 this week.

Good trading everyone...


PS. On a small note, I notice on the Poll everyweek, there is the option Not Concerned. Not Bovered. What Ever. etc etc etc...

Forgive me everyone, but if you are not bovered, why do you bother to participate in ticking the box? :cheesy:

I'm not too bothered either but isn't the point of the poll to provide and opinion in the direction of cable. Surely we have all placed long or short bets and we know the score.

We imo need the pollsters to commit as to what your view is for the week. That is what makes the poll interesting. Not if we are bothered about the $ or not.


Finally, if we are to have

NOT CONCERNED

then we should also have

MILDLY CONCERNED
VERY CONCERNED
I'M ON THE ROOF TOP

and tomorrow I'll be voicing my concerns

AT HYDE PARK CORNER (with a microphone) :cheesy:

Hi Atilla, I have uderstood that the "Not concerned "option in this week's poll reflects ones trading stand to follow the market in the direction it takes rather then having a subjective opinion of where the market should have gone. Obviously all of us to a degree share a given sentiment as to where the market should go, but in my experience, this sentiment might be misleading and therefore costly. In my trading strategy I have not made, and trying hard not to make any space for this subjective approach, in which it comes so easly (at least for me) to get emotionally attached to my opinions, with the effect of either lossing some of the capital or lossing the offerings that the market presents. So in this way I say to myself, I am not concerned as to where the cable goes, providing I use all the available to me tools in executing the high probability trades.
Wishing you a great week with many good trades. 2be

 

[zuke]

Evening all. Rare that I trade at this time of night, however, A nice short signal has appeared for me. Hence, I am:

SHORT (10 lots) 2.0084
SL : 2.0104
TP 1 (3 lots) 2.0064
TP 2 (4 lots) 2.0034
TP 3 (3 lots) 2.0014

I will be using 30 PSAR to trail this trade and will close all lots if trail is hit.

Good trading to all.

 

[Atilla]

Hi Atilla, I have uderstood that the "Not concerned "option in this week's poll reflects ones trading stand to follow the market in the direction it takes rather then having a subjective opinion of where the market should have gone. Obviously all of us to a degree share a given sentiment as to where the market should go, but in my experience, this sentiment might be misleading and therefore costly. In my trading strategy I have not made, and trying hard not to make any space for this subjective approach, in which it comes so easly (at least for me) to get emotionally attached to my opinions, with the effect of either lossing some of the capital or lossing the offerings that the market presents. So in this way I say to myself, I am not concerned as to where the cable goes, providing I use all the available to me tools in executing the high probability trades.
Wishing you a great week with many good trades. 2be

Hi 2be,

What you say is all true and don't dispute it. I also know most of the people on this thread and that they go with the TA. There are some people who marry a position and can't bring themselves to consider divorce...

I start off with FA and blend it with TA to add flavour to taste. Sometimes I favour FA for trends and sometimes TA.

But the poll isn't going into psychology IMO it's simply a view point on outlook.

 

[wasp]

A bigger picture view from me :cheesy:

I think the poll is not only to show the overall concensus of views but to show the overall type of traders. Some of us here don't predict or at least, don't put money on our predictions (seeing as I just posted predictions but anyhow...) I find it interesting to see how many people trade the way I do or not (ie, no predictions but price action tick by tick or breakouts etc...) so I personally like to see the 'not bovvered' box although, "not relevant to my trading style" may be a better name....

 

[trendie]

Hi 2be,

What you say is all true and don't dispute it. I also know most of the people on this thread and that they go with the TA. There are some people who marry a position and can't bring themselves to consider divorce...

I start off with FA and blend it with TA to add flavour to taste. Sometimes I favour FA for trends and sometimes TA.

But the poll isn't going into psychology IMO it's simply a view point on outlook.

phew! didnt realise I had misworded the poll!
I suppose what I mean is given the state of the past week, what is your bias for next week. as per wasp, using TA patterns or whatever, do you see an upside or downside bias.
The not-concerned was more to recognise that some dont know they're there until they get there, in the sense they dont have a profit-target or price-objective in mind, and thus have no obvious bias.

anyway, not having a position is a position!
good trading y'all.

(would be worthwhile thinking about what next weeks poll should be about.)

 

[zuke]

Evening all. Rare that I trade at this time of night, however, A nice short signal has appeared for me. Hence, I am:

SHORT (10 lots) 2.0084
SL : 2.0104
TP 1 (3 lots) 2.0064
TP 2 (4 lots) 2.0034
TP 3 (3 lots) 2.0014

I will be using 30 PSAR to trail this trade and will close all lots if trail is hit.

Good trading to all.

Great start to the week! stopped out for -20 Now I know why I dont place trades in the Asian session..I had a signal to reverse this trade to a long (and wouldve got +2 pips too) but was asleep at the time.

wont be doing that again!!

 

[Crap Buddist]

first trade here, long 2.0075.8 stop 20 odd below.

 

[JillyB]

Morning everyone,

Well I was long last night on the Cable - since the high was formed second. Entry at 2.0078 and exited this morning to take +11.

Nice start to the week really.

 

[zuke]

jeez..the signals are coming in thick and fast this morning! LONG 20076, Stop 20056 Target 20096

just going for a quick scalp

 

[oiltanker]

hit my 5pt target on eur/gbp so me happy.

cable looks in strong uptrend at the moment but a bit expensive. i would like a dip to 2.0060 ish to go long for previous high target.

 

[Crap Buddist]

+32.5 exit long 2.0108.3, Just short terming these trades.

 

[Crap Buddist]

But its going higher I think ehh, got a message saying this forum requires you wait 60 secs between posts .... crikey on a trading site ?

 

[zuke]

jeez..the signals are coming in thick and fast this morning! LONG 20076, Stop 20056 Target 20096

just going for a quick scalp

Took 5 lots at 20096 for +20 and let remaining 5 lots run with 25 pip trailing stop.

 

[oiltanker]

pivots

r1 2.0110
r2 2.0135
r3 2.0187

i don't think we have taken out april high?

 

[Phil Mibbutz]

i don't think we have taken out april high?

Don't have an accurate chart to hand, but surely we did at 130?

 

[zuke]

pivots

r1 2.0110
r2 2.0135
r3 2.0187

i don't think we have taken out april high?

Are those cam or standard?

 

[zuke]

Don't have an accurate chart to hand, but surely we did at 130?

128 bid on my charts