FX Trading June 11th - 15th

[wasp]

Hooray for cable! Now if it could only be like last week on a regular basis we'd be laughing!

Been a while since I started one of these so here we are... Not much news wise this week by the looks of things.

I'm personally biased short on the larger picture and think its about time the pound slumped. Not that I particularly wish it too but just my thoughts. Anyhow, I let the charts lead the way so best not to think really...

Goods trading all...

...

6/10/2007 22:45 NZ Terms of Trade Index
6/10/2007 23:50 JPN GDP

6/11/2007 08:30 UK DCLG UK House Prices
6/11/2007 12:30 CA New Housing Price Index
6/11/2007 23:50 JPN Domestic CGPI

6/12/2007 01:30 AUS NAB Business Confidence
6/12/2007 04:30 JPN Bankruptcies
6/12/2007 05:00 JPN Consumer Confidence
6/12/2007 08:30 UK CPI
6/12/2007 08:30 UK Total Trade Balance
6/12/2007 09:00 EU Euro-Zone Ind. Prod.
6/12/2007 14:00 US IBD/TIPP Economic Optimism
6/12/2007 18:00 US Monthly Budget Statement
6/12/2007 21:00 US ABC Consumer Confidence
6/12/2007 22:45 NZ Food Prices
6/12/2007 23:50 JPN Current Account Total

6/13/2007 00:30 AUS Westpac Consumer Confidence
6/13/2007 04:30 JPN Industrial Production
6/13/2007 08:30 UK Claimant Count Rate
6/13/2007 09:00 EU Eurozone Employment
6/13/2007 11:00 US MBA Mortgage Applications
6/13/2007 12:30 CA Labor Productivity
6/13/2007 12:30 US Advance Retail Sales
6/13/2007 14:00 US Business Inventories
6/13/2007 14:30 UK Leading Indicator Index
6/13/2007 18:00 US Fed/s Beige Book
6/13/2007 22:45 AUS Retail Sales
6/13/2007 23:01 UK RICS House Price Balance

6/14/2007 00:30 AUS Consumer Inflation Expectation
6/14/2007 02:55 AUS RBA Governor Glenn Stevens Speaks
6/14/2007 04:00 JPN BoJ Monetary Policy Meeting
6/14/2007 06:00 EU German CPI
6/14/2007 08:00 EU ECB Publishes Jun. Monthly Report
6/14/2007 08:30 UK Retail Sales
6/14/2007 09:00 EU Euro-Zone CPI
6/14/2007 12:30 US PPI
6/14/2007 22:45 AUS Manufacturing Activity
6/14/2007 23:50 JPN Tertiary Industry Index

6/15/2007 03:00 AUS Non Resident Bond Holdings
6/15/2007 05:00 JPN Coincident Index
6/15/2007 06:00 JPN BOJ Monthly Report
6/15/2007 09:00 EU Euro-Zone Trade Balance
6/15/2007 12:30 CA New Motor Vehicle Sales
6/15/2007 12:30 US CPI
6/15/2007 13:00 US Total Net TIC Flows
6/15/2007 13:15 US Industrial Production
6/15/2007 14:00 US U. of Michigan Confidence

 

[jacinto]

you are an early starter wasp. nice charts.

this is an interesting read
http://www.morganstanley.com/views/gef/index.html

look for the June 08 comment if reading by monday or tuesday, as the comments for those days may have been updated.

good weekend.

j

 

[rateesquad]

The dollar looks promissing...and Yes I believe that the cable should depreciate some what.

 

[wasp]

extreme high n lows

In regards to what I was saying last week...

When we see new highs and extreme peaks, it has a tendency to reverse rather swift and big.

The first in '79/80 then again in '92 and even from the other side. These things, if they happen in 3's, could prove costly for the pound and despite the US economy, whats holding up the pound, the UK isn't exactly in great shape right now... could be an interesting 6 months...

 

[atomm]

Eurusd & Gbpusd

The dollar looks promissing...and Yes I believe that the cable should depreciate some what.

The bearish run not loosing steam yet (technically). There may be a brief rebound and then the downtrend proceeds. At the moment, both of them move at the same pace.
Next immediate target : EURUSD -- 1.3310 ( if the chart pattern in early January 2007 repeats); GBPUSD -- 1.9600 (if the chart pattern in early March 2007 repeats). However, the rally may not extend much further.
Anyway, nobody can really 'time' the market, too bad for us (retail traders).

 

[jacinto]

hi all,

Got a double pattern for USDCHF with identical targets, which is a nice confluence. keep an eye on it. nice pips to be made...:cheesy: seems like it will be buying the dips from now on.....

a) nice reliable pitchfork (targets in pink)
b) inverted HS - triangle (what ever you want to call it) (targets in blue)

targets 1.31

j

 

[brutusdog]

looks like more sales than furniture stores on a bank holiday for you j. maybe you should open a shop or maket stall.....

 

[jacinto]

looks like more sales than furniture stores on a bank holiday for you j. maybe you should open a shop or maket stall.....

having seen your avatar, think there is a market for hair products :cheesy:

wow, you are one handsome dude brutus :cheesy: where do you cut your hair?

 

[jacinto]

is there a kind elliottician out there that could tell me if this is an ending diagonal on euryen? cause if so, i may also enter the business of selling euros :cheesy:

thanks

j

 

[jacinto]

well, took the short on euryen @ 162.70 nonetheless, stop at BE as it is past my bedtime, and we shall see if we get 250 pips out of this one :cheesy:

and if it dont work, ill just reshort it at a better price

 

[zuke]

Morning all. Not clear which way its going (or is that, dont care?!!), but am waiting for a close above or below triangle on the 1H. Hence, Im looking for a close above c.9685 for longs and below c.9650 for shorts.

Hope you all have a good week.

 

[jacinto]

morning,

good to wake up and be in 50 in profit. only 200 to go.

good day all

 

[brutusdog]

j. some of us are so ugly we have to keep very long hair as a disguise

however i do use loreal....because i'm worth it,with this much hair their sales must be soaring...might pick up some of their shares. maybe add them to your

edit: nice entry by the way...making £ while you sleep now thats cool

 

[Crap Buddist]

activated Short ,entry 1.9670 at the mo.

Tried placing mojo's on higher timeframe(4hr, dailies) , but for some reason, (likely to do with the coding) they do not display right. sort of mental zigzags up and down. Probably something to with the volatility code , so stuck with intra session timeframes, they will have to do...

Anyway short 1.9670.

 

[trendie]

short at 1.9660 2-lots. (Bagovino MA-X on 1-hr)
risk: 30 pips

 

[smbtnt]

Morning all,

Slightly worried with my longs this morning as the consensus seem to be favouring shorts, will have to stick it out and tighten stops on the contra. Target 9740

 

[brutusdog]

short at 1.9660 2-lots. (Bagovino MA-X on 1-hr)
risk: 30 pips

trendie

is that the 3 indicator one or the one with just ma and rsi?

i like to keep an eye on the latter although i dont trade directly of it it is pretty good...do you scale out the 2 lots as suggested by bag...

 

[brutusdog]

short 9675 stop 9685.

 

[jacinto]

Morning all,

Slightly worried with my longs this morning as the consensus seem to be favouring shorts, will have to stick it out and tighten stops on the contra. Target 9740

i must say i favour a consolidation for today, testing 9720 and then a fall in the afternoon.

sitting with a not so comfortable euryen short now myself , but thats the name of the game.

 

[a_gnome]

sitting with a not so comfortable euryen short now myself , but thats the name of the game.

Morning all,
Hope you all had a good weekend.

Looks to me like we might be setting up for an inverted H&S buy on EURJPY on the hourlies. Got a buy stop above 162.80.