FX Trading May 14 - 18

[rav700]

just whiling away the time....

01: an Orange day ends UP relative to the preceding Green day. (yellow marker)

02: the Blue day starts from relative high of the Orange day and drops. (to aqua marker)

03: Red day recovers to end around similar high of previous Blue day. (magenta marker)

(this does not constitute investment advice. pants call fall down as well as up. trading is a highly geared product, and you may lose all your hair.)

That explains it all Trendie.........Now I a know where my hair has gone :cheesy:

What a Day I have had.....
Shorted the eur\jpy at 385 and came out as I have not slept for a whole day prior and came out for 10 pips and went to sleep forgot about the industrial production data and woke up to find that I could have made a very big fortune today.....
Well what a day.....

Good luck with you trading trendie
Rav

 

[The Pearl Fisher]

just whiling away the time....

01: an Orange day ends UP relative to the preceding Green day. (yellow marker)

02: the Blue day starts from relative high of the Orange day and drops. (to aqua marker)

03: Red day recovers to end around similar high of previous Blue day. (magenta marker)

(this does not constitute investment advice. pants call fall down as well as up. trading is a highly geared product, and you may lose all your hair.)

Trendie, I haven’t laughed so much in a long time.


Yes…very good.

 

[rav700]

Japan's economy had a rough start this week. Yesterday, core machinery orders came in much lower than expected. According to Masaki Iso,
head of Japanese equities at Yasuda Asset Management Company, this "was a very, very negative figure.'' Iso went on to add that
"Investors might be speculating the Japanese economy is weakening."

This view could either be amplified or offset by tomorrow's quarter-to-quarter GDP release in Japan. The GDP gives a more thorough reading
of a nation's economy than any other indicator. It gives an estimated value of all goods and services. Let's say that manufacturing is
weak but activity is increasing in the service sector. A pure manufacturing-based indicator won't show this--it will give a skewed view of
the economy. But GDP factors in the entire picture; it gives analysts and traders a broader and more balanced view.

Here's how Japan's GDP has fared for the last four quarters, starting with the most recent:

1.3%
1.2%
0.2%
0.2%

Tomorrow's forecast is for 0.7%. With slowing demand from the global economy, particularly the U.S., almost all analysts agree Japan's GDP
will drop from the last two quarters. With all of the bearishness from the machinery orders release, any number above the estimate could
set off a Yen rally. As a safer guideline, a reading of 1.0 or more is almost certain to cause a significant move.

(Note: the attached graph is for annualized change. Tomorrow's release is for quarter-over-quarter.)
___________________

Analysis by FX Logic

I thought I would this article as the news that is out tonight could lead to a big move in the yen....Will post my analysis in a bit

 

[rav700]

I am looking at the 4HRly chart for cable.....
It seems that that if this support holds for another hour then we could well see the 855 mark again.....

Long @ 9766
Stop @ 9744
Target 1: 9796 and + 30 there after.....

 

[trendie]

if my Delta reading is right, the best entry would be if it reached y'days low and started climbing, ( 1.9756 ),
OR, if it turns before getting to the low, a break-out above overnight action, a buy above 1.9782.

interesting......

 

[The Pearl Fisher]

Bought USD/JPY at 120.74

SL 120.35

Sold GBP/USD at 1.9777

SL 1.9817

Exits:

USD/JPY at 120.95

GBP/USD at 1.9776

 

[Crap Buddist]

1st trade here .Short 1.9772, stop 90

 

[The Pearl Fisher]

Sold EURUSD at 1.3539

SL 1.3575


Sold GBP/USD at 1.9774

SL 1.9814

 

[jacinto]

morning all,


honest, a bit confused on overall price action. screwed up the reading yesterday, and will have to stand aside until price tells where it wants to go.

yesterday I saw the expanding triangle (blue lines), and simply ignored it thinking price would bust through the top. mistake. question is if it will touch the bottom, in which then longs from there,

but the small triangle (white lines) is putting me off having a view (being hung over has nothing to do with it:cheesy: )

good day

j

 

[hornblower]

Morning all
looking for a break out
794 for the upside
and 761for the downside
745 is the bottom of the tread , so if we break passed that its down

looking at the 4 hour chart , we are still in a down tread , and there is resistance around 825, and 726

edit
looking to short the usd / swiss soon

 

[dc2000]

mrng chaps
another long position here @765 and only a drop to 733 would have me exit my target is 946

 

[smbtnt]

morning all,


honest, a bit confused on overall price action. screwed up the reading yesterday, and will have to stand aside until price tells where it wants to go.

yesterday I saw the expanding triangle (blue lines), and simply ignored it thinking price would bust through the top. mistake. question is if it will touch the bottom, in which then longs from there,

but the small triangle (white lines) is putting me off having a view (being hung over has nothing to do with it:cheesy: )

good day

j

Nice spot, these generally go on to form base diamond patterns. Watching on the 60/240mins for clues.

 

[jacinto]

Nice spot, these generally go on to form base diamond patterns. Watching on the 60/240mins for clues.

merci bien,
but to be honest, i thought it looked more like a pint glass spilling all the beer.

now you got me looking up diamond patterns, which i know zilch about

lets see how it plays out.

j

Edit: there we go. lets see the text book pattern.

http://thepatternsite.com/diamondb.html

 

[Crap Buddist]

stop hit, and get long flagged. So i'll be taking a long this next decline.
Sub 70 ideally..

 

[The Pearl Fisher]

Sold EURUSD at 1.3539

SL 1.3575


Sold GBP/USD at 1.9774

SL 1.9814

Don’t normally use orders to exit at a profit (Limit) But, I do have to go out and do some shopping now. So I have set the following exits. The stops are already in place.


Exit orders:

GBP/USD at 1.9680

EUR/USD at 1.3470



Jacinto: Great observations...

 

[Offshore Trader]

Got back to the computer to find out I've been stopped into a cable long at 91. Don't you just love those spikes!

 

[The Pearl Fisher]

Got back to the computer to find out I've been stopped into a cable long at 91. Don't you just love those spikes!

Sorry to hear that Offshore,

I hate spikes. That really is just plain bad luck…

 

[jacinto]

thanks PEarl,

my head says 2 things at the moment

1) longs
2) headache

therefore

flat.

 

[The Pearl Fisher]

thanks PEarl,

my head says 2 things at the moment

1) longs
2) headache

therefore

flat.

Longs look good short term. I think we may just see a huge bounce off 1.9800 though... Now that would give a Headache.

Anyway have to go, I’ve got somebody screaming at me like a banshee.

 

[Crap Buddist]

Long 1.9774, stop 48.

just looking at the charts eyeing a break point of 1.9814 see if we get some solid closes above there.