FX Trading May 28 - June 1

[Crap Buddist]

Im sidelined this morning , might have time this avo. If I can avoid shopping. charts fully reinstalled ready, ive made hard copies on disk, should that critical nasty pop up again

Showing short from 1.9804 7 am , still short bias.At the mo.

 

[oiltanker]

if the competition figures are to be believed then the majority there are cable and euro bulls in a big way whereas on the face of it everything seems to be pointing to dollar strength?

a eur/gb sell order has activated at 0.6797. target 0.6785.

As eur and gbp are down at s2 ish [on my chart] and scraping rsi 30-40 no orders activated and unlikely in europe session.

 

[trendie]

gone short with 1 unit at 1.9768. (dont want to miss out on move)
will still take a "better" short at better prices, shoudl it pullback.

nominal trade.

EDIT: 1 unit equates to about 1/5 normal size. (size dependent on volatility)

bailed out for +30 at 1.9738. essentially a non-event, due to minimal size, but glad for a positive outcome.

 

[oiltanker]

however ,interestingly, those on the leaderboard 8 out of ten [and the top 5] are eur and cable short and jpy and chf long which matches the underlying cot report for non commercial positions. amazing!

i think i have found a new indicator

 

[JillyB]

bailed out for +30 at 1.9738. essentially a non-event, due to minimal size, but glad for a positive outcome.

Good trade there.

I wonder if Phil got out of his long trade? I think I might have upset him last night when I posted that I had an overnight short trade

I paper-traded (as I'm still working) a short on the Eur/Usd and would have picked up a nice 10 pips there.

My other half is long on the Eur/Usd, so I'm hoping it starts to turn a bit now. He wasn't too pleased when I told him I was paper-trading a short at around 8.30am.

 

[Phil Mibbutz]

if the competition figures are to be believed then the majority there are cable and euro bulls in a big way whereas on the face of it everything seems to be pointing to dollar strength?

.

I think you should take this with a pinch of the proverbial, because without stops and limits these figures are unrepresentative of 'normal' trading. After the platform started seizing up, I just left my competition trades running a couple of weeks ago, and I'd guess that the same applies to a lot of others, hence some seriously skewed figures.

 

[Phil Mibbutz]

I wonder if Phil got out of his long trade? I think I might have upset him last night when I posted that I had an overnight short trade

Congrats on your trade, JillyB, and don't worry about me being upset or losing money on stupid long trades. I've learned enough to get out ASAP when things go the wrong way. Usually, anyway!

 

[Crap Buddist]

bailed out for +30 at 1.9738. essentially a non-event, due to minimal size, but glad for a positive outcome.

Im looking at that, and think it was a great trade. Look at how much it went against? it didnt did it , excellent look at the exit , also good, intuitive exit ?, just taking a very reasonable profit? (points)

Excellent one I think.

 

[trendie]

Im looking at that, and think it was a great trade. Look at how much it went against? it didnt did it , excellent look at the exit , also good, intuitive exit ?, just taking a very reasonable profit? (points)

Excellent one I think.

thanks, CB, but it owed more to luck!

the exit wasnt intuitive, just my habit of grabbing about 30 pips or so, when I dont get scared out for 10!
I went in because I didnt want to get left behind if it fell further, and the entry was essentially random, but with the trend.
the best entry was around 9805 at 7-am, if I would have been awake I would have gone in with 5 lots. but it had slipped 30 pips from "optimal" entry, so I went in with reduced amount, waiting for a pullback that never came.

will have to get up earlier tomorrow.
hope you had a good day.

 

[Atilla]

Hi everyone,

If my weekend analysis on Monday evening was correct now that we hit 1.9750 and found support at 1.9730 the rest of the week should see some upwards movement.

Didn't short it as a busy week away from desk for me but I'm now looking to go long. I will wait for my hourly MAs to cross over to confirm turn with a target of 1.98+.

I think the pound will oscillate between 1.97 - 1.99 before surging through the $2 barrier. 1.98 to me is the centre of gravity.

Good trading.

 

[oiltanker]

closed out eur/gb for zero and reset orders higher up.

things on the majors seem quiet, too quiet.

 

[a_gnome]

After taking a couple of hits yesterday trying to go long I finally took a short at 810, took half off at 770 this morning and am still holding the other half. Will also be looking to add to this position on a pull back of some sort.

Exited half of the remaining position (ie 1/4 of the original at 745) and am still holding the remaining position overnight. The market has been grinding against the old downward trend line all afternoon without much of a rally so I'm thinking that there could further downside.

 

[JillyB]

Another sell trade for me tonight - in at 1.9759. Will let it run until the usual time in the morning.

 

[wasp]

Couldn't resist...

Short 50 lots at 1.9860
Stop at 2.0250
Target at 1.7750

:cheesy:

Stop to +1 and let it roll.............. :cheesy:

 

[trendie]

as per always, the MAs are of no use when market dies down like this. (choppy signals)

the Boll-bands on the 60-mins show a squeeze, with break-outs above/below 1.9770/740 for the moment.

 

[Crap Buddist]

Bit of a hairy open gone short 1.9756.

 

[JillyB]

Another sell trade for me tonight - in at 1.9759. Will let it run until the usual time in the morning.

Out now for +6 pips.

 

[trendie]

okely-dokely: short 1 lot at 1.9743 (boll-band squeeze thingy)
seemed a bit expensive. optimal price around 58 or 63. (where CB went in!)

 

[Offshore Trader]

Morning all. Another + day for your system Jilly very impressive. Cable seems to be a one way bet which makes me think that a reasonable correction is just around the corner. I hope we don't test the downside first or else I fear my breakout systems will stuff me up. For the mo, I'll just sit and watch until 9

 

[JillyB]

Morning all. Another + day for your system Jilly very impressive. Cable seems to be a one way bet which makes me think that a reasonable correction is just around the corner. I hope we don't test the downside first or else I fear my breakout systems will stuff me up. For the mo, I'll just sit and watch until 9

We have GDP announcement at 1.30pm today, but I don't really expect this to change the overall direction much. I think we will continue this slow downtrend until tomorrow where we will see the overall low of this trend hit and then the start of the new uptrend formed when we get the NFP data in.