FX Trading June 25th > 29th

[Phil Mibbutz]

mmm, nice. Thats what ive been thinking. Certainly the june highs to land in zone 2.0100-2.0200 if june delivers its typical monthly ATR and the lows gone in.

Now its got 3 days to do it , add 200 at least up from here.

Supporting this fairy tale. 1.9960 to be re taken and act as support again.

lets see..

The Force is with us! My worry is that there might be a sudden stop-busting retrace before the upward spurt, causing us to dither around and miss the move in both directions. Not that I'm pessimistic, of course.

 

[JTrader]

i give up on cable. its worse than watching a game of cricket

I think $2 level has played a key role in the stagnation of cable. It seems that the market is waiting for economic news that will either smash $2 wide open, or do the complete opposite.
Personally, i think $2 has to go - due to the continued (IMF etc.) policy to devalue the $.

 

[Offshore Trader]

Jilly B's method would have been a long yesterday and therefore taken the full -45 hit. First one in a long while though. Incidentally her method might work really nicely on EUR/JPY as well. I haven't done any serious work on back testing but it has given the full +60 the last three days and has been profitable for the two weeks before that as well.

 

[jacinto]

right, im starting to eye a long for euryen. will take its time to setup IMO. considering the move is down, will play the pullback trade on this long. my view for the end of the correction down is around 163.50 and 163.75. so will assume a move up this afternoon, and then a new fall taking a short targeting those levels.

want to see what happens at the 164.20 area if and when it visits to take a decision. waiting for the current 60 min bar to close.

 

[oiltanker]

Rates too low, Bank deputy says?

http://news.bbc.co.uk/1/hi/business/6244024.stm

 

[fibonelli]

short GBP/YEN in the comp (short GBP/USD 19995 and short USD/YEN 12313) nice falling channel and failed 50% fib retrace from 24523

+45 GBP/USD and +59 USD/YEN. Cr4p entry though.

 

[JTrader]

Rates too low, Bank deputy says?

http://news.bbc.co.uk/1/hi/business/6244024.stm

Take that pin away from that balloon :cheesy: :!:

 

[fibonelli]

Take that pin away from that balloon :cheesy: :!:

yeah, the balloon of credit creation. I say re-introduce controls on credit creation. :idea:

 

[JTrader]

yeah, the balloon of credit creation. I say re-introduce controls on credit creation. :idea:

And perhaps the bubble is about to burst :idea: :?:

 

[trendie]

short at 1.9960.
anticipating a pin-bar on the 30-mins.

 

[hornblower]

Morning all
I have given up on cable for the time being

I have a long euro /usd from 1,3430 and thats going up
and a long on euro/yen @ 164.61 still gonig sideways

and a small long on the S & P

 

[jacinto]

hi HB, hope all is well.

agree with you 100% on cable.
good luck on the euryen long. im still waiting for a confirmation. the 4hr bar is looking good for a breakout strategy. my preference is long, with a pre-breakout entry at 50 or better and a target of about 50-70 pips for the afternoon.

j

 

[hornblower]

hi HB, hope all is well.

agree with you 100% on cable.
good luck on the euryen long. im still waiting for a confirmation. the 4hr bar is looking good for a breakout strategy. my preference is long, with a pre-breakout entry at 50 or better and a target of about 50-70 pips for the afternoon.

j

I am a break out trader, but of late, they have few and far between
and i have tried like you ,to wait for the signel
but if I do, I miss the 15 or 20 points
so I like to get asap if I think its going to be a long

ps fx insights called a long from 1,3430 on euro/usd

 

[JTrader]

Morning all
I have given up on cable for the time being

This does seem a familiar sentiment on this thread right now. Trouble is, by stepping aside, you miss the break-out when it comes, and you don't know when the breakout will come!
But then at least you have the hope of catching further moves after price has broken out.
Those who continue to trade through this consolidation pattern may also end up in the poor house, as again, we don't know how long it will last

 

[jacinto]

I am a break out trader, but of late, they have few and far between
and i have tried like you ,to wait for the signel
but if I do, I miss the 15 or 20 points
so I like to get asap if I think its going to be a long

ps fx insights called a long from 1,3430 on euro/usd

know what you mean with jumping on board. i was tempted on the last visit sub 50, but decided not to. the rectangle is very clean, and in hindsight would have been ideal for 20 pip scalps on both sides, several times. it is tough to change trading style sometimes, and particularly with a pair that is trending so nicely.

think i wont get that entry again, but one never knows. im moving along using closing lines together with bars to assess support-resistance and turning points. interesting excercise. today, 50 seems to be the key level on closing prices, and 40 on lows. busting 73 on closing prices and 80 is key for reversal long (lets call it pullback in this case ).

good luck on the longs.

 

[jacinto]

well, lucky me got my euryen entry 164.50 long.

edit, and unlucky my its pressuring the base rather than the top.

edit, thats me out at 38 for -12.

guess the mistake was not to take a congestion as a substitute for a pullback. well, will get my long entry lower.

 

[trendie]

short at 1.9960.
anticipating a pin-bar on the 30-mins.

pondering whather the 61.8% retrace at 9982 was a a better entry.
however, it has given me a logical exit point now at around 9993. (9988 + 5)

 

[Trader333]

Does anyone know what happened to The Pearl Fisher ? I think the posts made were excellent.


Paul

 

[fibonelli]

GBP/YEN struggling to go above fib 23.6% (24698 to 24400), hmmm.......

 

[Crap Buddist]

just closed that 43 long at 77.