FX Trading Mon 17 Dec - Fri 21 Dec 2007

[fibonelli]

Thought I'd start this week's thread with a look at EUR/USD (CME Futures)

Chart shows a fairly clear H & S chart pattern. Friday's price action was clear break below the 14528 neckline.

 

[rathcoole_exile]

Thought I'd start this week's thread with a look at EUR/USD (CME Futures)

Chart shows a fairly clear H & S chart pattern. Friday's price action was clear break below the 14528 neckline.

i've got a StopSell order in at 1.4402 for continuation of the move south, waiting to get triggered

 

[rathcoole_exile]

i've got a StopSell order in at 1.4402 for continuation of the move south, waiting to get triggered

triggered, love it when the London session kicks in and kicks some Tokyo ass !

my cable StopSell at 2.0140 also triggered, still waiting for Stop Buy at 1.0250 againsy the Loonie

 

[Devilicus]

Long cable here at 2.0040

 

[Devilicus]

Stop on above trade is at 2.0000.
Initial target is 2.0100

 

[Devilicus]

stopped out

 

[shadowninja]

Any idea why the sudden big move? EUR/USD just dropped 50 pips, too!

 

[Devilicus]

No idea. Im not gonna lie, I had really high confidence in that trade coming good. I'd already spent my winnings

On to the next one I guess...

 

[fibonelli]

Any idea why the sudden big move? EUR/USD just dropped 50 pips, too!

the dollar is deflating (on a relative basis) against the other currencies at the moment.

 

[shadowninja]

But why did it kick in at 4.30pm?

Hang on, surely the dollar is inflating?

 

[fibonelli]

But why did it kick in at 4.30pm?

Hang on, surely the dollar is inflating?

if you have a look at EUR/USD and the DJIA30 stock index you should see a fairly good correlation

 

[shadowninja]

So... why at 4.30pm?

 

[trendie]

Seasons greetings to all and sundry. Am off until January.
May pop in occasionally, but for me, trading is now done and dusted for 2007.

Hope you have a profitable December, and see you in 2008.

[santa smilie] :cheesy:

 

[shadowninja]

You, too. Doubt there will be any news to trade next week so I won't be active much.

 

[JTrader]

Theres still nothing quite like cable on sub H1 charts in terms of affordable spread & decent price movements.
EURJPY can sometimes come close. EURUSD rarely comes close, as is so wth AUDUSD & USDJPY.
All the rest have too bigger spreads.

 

[shadowninja]

Amusingly, 15 minutes after posting, I scalped 20pips on GBP/USD.

 

[bbmac]

Haven't posted to the ongoing weekly FX threads for a while, so this is a bit retrospective, but interesting nonetheless. (circled in yellow)

The screenshot shows the Dly GBPusd chart and the confluence of potential resistance at that 0580 area, being;
a. First test of the decsending trend line joining highs at 1162 (current yrly hi) and 0832 (red narrow dotted on chart)
b. underside test of the breeched ascending support trend line (green wide dotted on chart)
c. 61.8% fib of that 0832 to 0176 move.

The resulting move down has now taken out the 2 daily ascending trend lines (circled in red on chart) and the weekly ascending channel support (not shown here.)

 

[fibonelli]

Haven't posted to the ongoing weekly FX threads for a while, so this is a bit retrospective, but interesting nonetheless. (circled in yellow)

The screenshot shows the Dly GBPusd chart and the confluence of potential resistance at that 0580 area, being;
a. First test of the decsending trend line joining highs at 1162 (current yrly hi) and 0832 (red narrow dotted on chart)
b. underside test of the breeched ascending support trend line (green wide dotted on chart)
c. 61.8% fib of that 0832 to 0176 move.

The resulting move down has now taken out the 2 daily ascending trend lines (circled in red on chart) and the weekly ascending channel support (not shown here.)

Hi bbmac,

I bet there was momentum divergence in the candle circled in yellow compared to the prior swing high :?:

F