June '04 Forex

[ChowClown]

...€$ is banging it's head against Fib Fan resistance right now (from the high back on the 8th). If this breaks up then next fib resistance at 2105 ish, then 2150, followed by 2200.

I'm long from overnight BO. Good day yesterday +129 (made up for Tues).

Good luck all.

 

[Goober]

First target 1.2087. Second target 1.2123. Third target 1.2181 - where I have a stop order to sell.

How far would you anticipate this could go?2083 looks as if it could prove difficult to bridge. The US jobs data is due at 1 30 although the feeling is that they could be lower than anticipated as last Friday wasa day off in US and consequently data is delayed.

 

[Welshmal]

Good to know I'm following the plot correctly! I guess the spanner in the works on those predicted figures if the US news knoocks it for 6.

 

[Goober]

I'm quite happy to take a hit of 20 pips when the risk/reward ratio is 1:6.

Good to know I'm following the plot correctly! I guess the spanner in the works on those predicted figures if the US news knoocks it for 6.

 

[Goober]

Stopped out at 1.2032 for -20 pips. I'm going to tweak my strat to stay neutral on news days. The volatility always takes my stops out.

 

[neil]

seems like we always have these wide ranging bars that fluctuate wildly on newsdays?

Best to stay away

 

[Welshmal]

Stopped out too. The problem is on news days not only do we see the impact of the announcements but also predictions prior to the announcements that tend to move the market. However, some of the best gains (and losses) are on these days. So old catch 22 situation. I guess we need to stay clear on days when major news announcements are due and enjoy the other days.

 

[Welshmal]

Thursdays appear to be the main news announcement day likely to drive the market. This resource (highlighted the other day) is an invaluable tool... http://online.wsj.com/public/page/0,,barrons_econoday,00.html

 

[darktone]

comov fellas.. theres news days....and theres

NEWS DAYS

25 jun
30 jun
2 jul

 

[Welshmal]

morning folks. I have a short on cable @ 18257 (7-8 b/o).

 

[JER08]

morning folks. I have a short on cable @ 18257 (7-8 b/o).

Hi wel

B/O system usually work well in trendy days IMHO, is Cable trendy today?

wish u luck.

 

[Welshmal]

Hi wel

B/O system usually work well in trendy days IMHO, is Cable trendy today?

wish u luck.

IMHO it was when I opened it but I would describe it as a bit farty now. We appear to be having a day when the market is very unclear of direction.

 

[JER08]

IMHO it was when I opened it but I would describe it as a bit farty now. We appear to be having a day when the market is very unclear of direction.

Scenario one:

It's aiming for at least 18380, US trade balance at 1:30 could help.

 

[Welshmal]

This Q1 info due from the US at 1.30; how significant is this to Forex? Are we likely to see a dramtic change in the market or ad-hoc spikes (when major economic news is announced)

 

[TheBramble]

I'm really not being facetious Mal, but - who knows?

Experience in FX has shown that the 13:30 news-day period can spike very nastily and take out (or bring in) Longs and Shorts in equal measure.

 

[Buk]

ALWAYS expect the unexpected.....if you're 'in' scale out & tighten stops....if you're 'out' wait for the reaction or bracket.

 

[Welshmal]

Just a quick update- stopped out on Euro and Cable......Cable at 100 pip loss....ouch.

Still there is always next week. Lesson learnt; ok follow break our sratergy unless the charts indicates resistance. Today the resistance was evident on the chart and clearly was the point of reversal.

 

[FetteredChinos]

"morning all" how are we all faring aujourd'hui? just a flying visit today. it is friday isnt it??

long euro from 1.2025 from this mornings 7-10am breakout. so thats ok (moved stop to 1.2085). currently banged in a short on cable. looks like 1.8400 could be a bit of a stumbling block. gonna let the short run til 9pm. market goes relatively dead from about 5pm onwards, so if im in profit i may take it and run for the hills.

not had a good week , work wise. was at my desk at 7.50 this morning and worked virtually all day. bloody annoying

have a good weekend all

FC

 

[Goober]

Another quiet day on EUR.

Went long at 1.2082 (hammer on support level) and took profits at 1.2110 (limit order at intra-day pivot) for +28 pips.

How's everyone else doing?

 

[Welshmal]

Difficult trading terain but a nice profit on cable today Selling at 18260 (7-8 b/o). Ufortunately managed to write some of the 60 pips profit by getting the wrong way on the swissy. On the 7-8 b/o usd/chf broke out earlier than the Euro so bought that at 12543. Although b/o was at 12527 waited for it to clear resistance at 12547. However, the long direction reversed at was stoped out at 12500.