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Trust an Aussie to lower the tone ?
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morning to alll
prefer to sit on my hands on thin markets as it holds false breakouts
still did not consider my shorts on eu prefer to see the vwap on the bounce from 1.20–1.2055 area and who is weighing on mean reversion getting back to the old range heck no ….
reduced my gbp shorts to half dont wana be greedy after all
i know kman prefer to longish jpy but 109 still a good floor and well protected from the downside
happy fishing day
Lebanon eh’
How wonderful Harry .
Phoenicians and Canaanites of old . The crossroads of the Mediterranean and Arabian hinterland .
your most welcome here anytime dubsy ull be surprised how much ull enjoy it ..you can also find great traders here and people eager to learn
:)) which room are you in? dark magic ?
No room is big enough :))
See you soon Q …Everything stops for lunch in China ?
bon appetit
Good morning people.
NZDUSD is looking heavy again. 0.7026 is the last fib in my confluence and that’s at 0.7026 so if it goes, I’m going to look to throw in the towel My stop stop at 0.7020 will be for all of it, not half as I had yesterday. Zero bounce of note yesterday so the lack of holding the recent lows tells me the trade is probably a dud. I’m glad I reduced my trade size yesterday.
EURCHF – Happy to hold the short and reload on bounces. TP still at 1.1950
USDJPY – Technically, I’d like to see 109.50 broken to continue holding this. I might tp some more if it holds still. Thinner markets don’t help with half the majors closed today. Will look to load up on dips into 109.00 initially.
I’m less inclined to trade those than the 1.20 ones.
Happy hunting traders.
Good morning all,
Not much left since the last update on the Live blog.
I bailed NZDUSD long around cost+ brokerage for now.
Short USDJPY from 41 on average has been reduced last night as low 109s are holding already, the USD’s still king. My stop @ 55 will make this trade a hit in the water .
Short EURJPY still in, will trade 131.61-132.24 on this as t/p-s/l, the latter being close to entry.
Range trading EURUSD from the short side but flexible with the barriers around. Offers capped attempts to overcome 1.2100/10.If we get no news to take EURUSD away from the magnet zone, ranges could get tighter until the barriers give way/hold as the protection buyers will sell out on rallies to have ammo to protect again. Suspect the 1.2050 to offer less resistance than the 1.20s. The latter could see this pattern unfold.
CAD GDP this afternoon. Cad’s traditionally quite a swinger on data. Being May Day, we need to be extra careful on the liquidity side. EURCAD turning around some medium/ longer term fibs in this zone. I’d still prefer opening the short side first as eco data turn up and Nafta seems to head for a brighter result for Canada compared to Mexico. 1.5615/45 would be nice around the bottom of the daily cloud and fib resistance. Downside look for 1.5400 and 1.5310/25 to show the direction. I wouldn’t be surprised to see a bounce from the latter unless 1.20 gives way on the EURUSD.
Stay safe and happy hunting
goodbye first barrier… i ll doom the next one
😀
needs a catalyst a big one
I think it’s a tough ask on the first attempt but this thin liquidity will give barrier hunters easier conditions to hit it as it will cost them less to push the price around. We’ll see though. I can see scope for a break, stop flush and reverse happening.
will see about the reverse but well said on the above very well
Morning folks. I have taken a long DXY futs via a CFD 91.78 as the spot price broke above the 200DMA ahaed of the Fed. Fed coming uo and yiekds still buoyed with debt sales the flavour. US treasury needs some billions to pay for the tax cuts and twin deficits.
Longed Cable last night 37496, looking for a rally ahead of UK manufacturing. We made headway to 3775 area but stopped out for a small chunk. switched short on PA running south ahead of PMI`s. Got me in break of 3734 and paying me handsomely now, looking for 1.36210, that`s the -1.618 extension and cemtre of a fib cluster I have. A break below brings the 200DMA into view, but let`s not get ahead of ourselves. Cable and other GBP pairs are now looking intraday, structurally short. 36210 is the number.
Construction PMI`s (due this week) can be written in as a miss by Mr Market, but the one everyone will be looking at with far more interest is Services PMI`s which of course drive the UK economy. A miss there and the 200DMA will be the target currently standing 1.35200.
So we have the Fed and Services PMI`s to pave our way.
Out the money on my Kiwi long – buying the dips .
Balanced by EURNZD and EURNZD shorts …..Slow burn .
Keep to your bias .. Don’t be afraid of the low liquidity meme . Does it always go against traders ?
I’ve profited well trading holidays . Let the market tell us where the boundaries are