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good day all
people of the earth and the aliens on jupiter expecting a jpy bid mainly against the euro so yea you got the idea …
euro : the upside target of the move of eurusd is 1.2230 which is the median price but it wont happen in near term …large
offers resides at 1.1850 and 1.1910 … closing below 1.1830 gave
sellers confidence getting back below 1.1783 and this upmove will lose
all the momentum …. only below 1.1721 the downside will resume and the
v reversal will end …. of course i am a rally seller as i sold yesterday on 1.1830 ….
my trade idea of the week sell gold rally above 1300 and working pretty nicely remain in this theme and a leg lower will happen
trade safely and happy weekend
I have to disagree with about one thing merlin. EU will remain on a positive note as long as 1.1650-46 holds
so why your buying at 1.1725 🙂 if it is not a key level pretty much on the level i defined ?
It’s the TL support expected to hold, but if it didn’t, it doesn’t invalidate the short term bullish stance.
my grasp on the charts besty differs from yours if we got there and broke remember me : the momentum will accelerate and will remain for a period of time 1.1550 -1.1721 …. before any leg lower
We’ll see. I wouldn’t mind much really, I went short when UJ broke 129.40 yest remember? 😉
i went short ej myself when dubs draw the yellow arrow … and scaled it ..129.40 was easy to break in this momentum
Everything went easy when usdjpy ramping @ 109.8 gave away! They tried hard to hold it to keep us indices pinned. But it was inevitable like I said. Yesterday was a chaos, rates dropped hard to 2.83 (Something big went there, guess someone knows something!) UJ, indices ignored the move and who fell on it? Gold!!! 6$ in a heart beat (manipulation to say the least)
hahhhhaaaaaa this gold idea was well mastered and dax and cac40 selll also gotta thank the factory orders
Hehehe…It’s still holding u know. Cannot ignore CHF & YEN strength forever!! and DAX short was a EU hedge at best 😀
Glad I was not the only one then who noted that
(the dropping rates etc).
Rates did a massive U-turn, from + 0.7% (EU session) to – 1.85% (US session).
Sure man. Gotta tell you correlations are borken since yest but it won’t last. The strange thing about the rates drop was that it happened in just 2 mnts!! A very big player and he obviously knows what he was doing…A breaking news coming?
Luv the 2.0 version of u,man…??
will answer on this next week jimbo and harry will
I would ignore and stop denying if i were you. Ppl tend to believe only what they want
Building shorts in USDJPY as posted here with chart on Wednesday. I’m a little top heavy now from 110.20 having added again a few times on the way down — I’m hoping for some decent downside action over the coming weeks, so this one is for medium term. All stops are now at breakeven . Only my dreams can be blown from here on out,…. and not my accounts 😉
oh so i may short zar/jpy then 🙂
I dont trade it myself …. seems like a brave plan ;))
Shorts in EURJPY … I got stopped on my last short attempt for -25 ..
I got in again on the failure to hold 130 . The trade is going nicely so far .
Short Aussie and a long in EURAUD … ( I will look to take profits on these soon ) .
i remember this trade on eurjpy i defended you and well done H getting ahead ….
Thank you kind Wizard 🙂
It had that overstretched look about it didn’t it … Managed to travel up further than I envisioned and caught me offside on my first attempt – Fits in nicely with my U’J view and some EUR weakness.
Keeping my GBP/ZAR long. bought it at 16.57 and now in good profit. want to add in pullback.
Trading those beastly ZAR pairs hey, good luck ??
why? everyone seems to be terrified of zar? why is that? traders have bad experience or something that i missed? i thought zar is a next em currency to go, so went in.
I think it’s the volatility that scares a lot of people, especially in things like ZARJPY. If you find a trade though, you smash it muddy.
oh ok. for a moment i was concerned when people started using words like ‘brave’ and beastly pr. its a long term trade without stoploss so dailly volatility is just noise for me. only regret is it did not allow me to add more position 🙂 i meant i managed to pick the bottom which usually do not happen to me.
I use to trade all the Zar pairs frequently, you can get some great trades out of Zar but it is highly volatile and the spreads are pretty awful, especially in illiquid hours.
Which broker has such pairs as GBP/ZAR and ZAR/JPY, if you don’t mind ? I have only USD/ZAR…..
starts with o and ends in a. but im not satisfied with this one. i want to move to lmax. im into exotic pairs. so current broker is hopeless.
Thanks…. Uhm TRY/ZAR…..Does Lmax offer even something like that…?
Hey guys…
NZDUSD short still open, SL above 70.60, TP 6960
GBPJPY short still open, SL moved to entry 147.84, TP (remains open, trailing SL)
EURJPY short @ 129.39, SL 130.3, TP 127.20
Buying EURUSD @ 1.1725, SL 1.1646, TP 1.1874
Missed my ES short yest by couple points. Selling today @ 2772, SL 2784, TP 2741.5
Still long EURNZD from 1.67, SL below 1.66, TP1 1.6864, TP2 1.6944
Too bad I closed CADJPY shorts too early yest (Both initial TPs were hit. Didn’t wanna hold it into the jobs report today with USDJPY non stop ramping). Awaiting the data before initiating any new trade
Good luck all
Threw in a long EURCHF @ 1.1553 (TL support) SL below 1.15, TP 1.1630
Interesting Friday Markets action sure to amaze .. PA-wise: Buy the damn dip on cable euro& cad.. USDCHF/JPY more downsides eyed . NA Open, stock may well go south?
Morning all, lost yesterday chasing GBPJPY long but manged to get back half of that in the first test of 1.18 in EURUSD yesterday afternoon.
As i sat down today at 0720 everything was literally just running away it seemed so I’m not in anything now as i was not chasing after them only to end up out of breath and having probably sold the low. My clearest bias at the moment is in AUD which i will look to sell a rally preferably around 0.7610/20 and AUDJPY but am unsure what level to go for there, 83.40 i think is the closest above. But they seem pretty determined in there effort lower today.
Other than that I’m waiting on UK data and then the CAD stuff in the afternoon. I’d rather CADJPY for the CAD data and GBPAUD for the UK stuff as USD i really can’t get a proper direction feel on at the moment.
Happy Friday all 🙂
Short EJ and EU from yesterday, just closed EJ for 150 + points to rap up a great week. Kept the EU in play and will resell EJ on a bounce. Still long GBP NZD.
Very smartly played Tally . Well done !
Have been trying to short EJ all week finally got some joy lol
Nice one Tally
Thanks pal
nicely done keep it up
Thanks Wizard
Good morning gents,
-Out of the EURUSD long try, wrong timing on that one blinded bu USD bearishness I admit. Numbers starting to slide again past 48hrs too.
-Short USDJPY from 109.80, yesterday’s presser between Trump and Abe was pretty strange. Trump mentioning Japan’s fresh investment into US as well as NK but Abe remaining totally silent solely focusing on the NK summit.
Japan won’t see tariffs or Japan won’t invest that should mean. Pretty binary.
Next week’s BOJ, they may revise inflation to the downside. 2 options: they acknowledge and do nothing in which case JPY advances further or they accelerate the printing presses in which case JPY gets watered down.
-Tad short USDCAD 1.2980, 30 p under water now but it’s tiny ahead of Cad employment data this afternoon. Results after autopsy.
-Long GBPNZD 1.9025. 1.8980/00 test succeeded yesterday. 1.9080/00 is where it should start to base now, moving stop to 1.9070 to guarantee profit.
Still not liking the USD on trade isolation. The rest of the world will organise itself to be less involved with the US imo and that should weigh, well it does already but not to much yet. Unless Trump does a 180 but leaving the G7 early to go to Singapore for his NK meeting doesn’t bode well. Risk should remain on the defensive with a neg USD tone. Scrutinising the horizon for good USD shorts
Safe journey, happy hunting and karaoke on!
Happy Friday all.
Been a quiet week trading for me this week, with a few other things to take care of. I should have given the topside EURUSD a bit more respect yesterday but the PA around 1.1830, when I traded it looked “poppy” and pop it did. I thought that move might carry on a bit further than it did, hence why I only went with a 7 pip stop. that’s life and we can only trade what we see at the time, and not in hindsight.
For now, the low 1.17’s is where I’d look at longs again. 1.1710/20 is where I’d expect to see some decent support. 1.1830/40 is still the resistance to beat on the upside.
I’m still itching to smash USDCAD shorts but there’s still plenty of volatility in this pair so picking the right levels is key, and even then, as we saw earlier this week, it can still blow up way beyond any expectations. I know I’ve got to be very disciplined and patient in this pair or I risk doing something silly with FOMO. 1.3100/30 is the big topside level so that would be my ideal choice. I just don’t trust anything in 1.30 at the moment, although the recent high is one guide to how the price might react.
I still don’t see any real trend changes around the majors so we’re still open to swings in either direction. Picking the better looking edges of recent ranges looks to be the sensible play for my style of trading.
Have a great Friday, as today’s pips are beer pips.
https://youtu.be/–AvCsh48bk
Where is Harry The Doom?…
I’m sure he’s about 😉
Reincarnation
Ahhh …….that’s what the spells are for . Very clever ?
Shorted USDTRY 4.51 closed 4.50
Shorted USDTRY 4.51 again
Closed some older USDMXN shorts 20.42
Shorted USDMXN 20.63
Update : Closed USDMXN 20.52
USDTRY at B/E now
and out of USDTRY 4.488
Wont be pushing my luck further today, have a great weekend everyone!
Great stuff Marek and have a good weekend yourself
Morning all, my only plan today is to stay away from Cable for a while, Bumbling Boris (our next prime minister??). Put his foot in it last night (or was it a setup ??) yet again to undermine May. Its a mess at present. As news and data is thin on the ground this morning I’ll look for support or resistance to be hit on the majors and then go hunting. Time for a bacon roll, Merlin can I borrow your wand mouse please? ;>
Boris? Gawd `elp us 🙂 I doubt he wants the job quite so much as 2 years ago. he`s gone a long way towards leaving a right royal mess for next incumbant. I would prefer to see Mrs M, promote Rees-Mogg to cabinet and for her to lead into the next election, where they stand a good chance of loosing and then for JR-M to take over. He`s sharp.
Morning folks. Still short the DXY CFD from 94.04. Frustrating me a little but keep the faith for 92.50 and possibly lower on a break there. Stopped out last night on a daft AUDUSD long, but the CADYEN`s keep paying me on full and double-sized positions. Running short from 84.793 trend-line break. Double-sized it break of 84.3990 on a pending. Nice to wake up to. Been a fantastic week so not pushing things much today. 2 bits of stop money to get back. Looking around for where I can pick those off and leave me with a clean, hefty week.
Just as pleasing is looking around you lot this week, seeing plenty of you making good money, some creaming it and those of you struggling and/or new to this business making good and better decisions.
Wonderful to see one and all. Let`s see if we can all carry on making money from each others ideas, plans, experience and hard work. Great stuff!!!!!!!!
Not very original here but short USDJPY from 109.733 and short AUDJPY from 83.47, positions opened a few hours ago, both doing well with a s/l at BE. Question is, take profits or let it run? I hate to give up a nice little profit on a Friday but this weekend could be a real gift for risk. (Or it all blows over..) Who is leaving pos open?
I`m leaving nothing on the board this weekend Alex, except a DXY CFD. Not too happy leaving that on, but will have to. Original? They`re bankers aren`t they? Great stuff.
Thx and cheers.
Leaving only 2 long long term positions myself. I might buy ES on a decent low today. Expecting a gap up on Monday
BTW Bestman thx for the tip yesterday for long EURAUD!
My pleasure. Glad u took the trade
You can always re-open it next week if there’s no big news or events that changes your analysis.
– EJPY hit my TP at 128.72 for a nice 100 pips. Sell on rallies but careful.
– short UJPY 109.99 I might job in and out.
– short Brent 77 for a scalp
– short the bird 0.7051
– short UCAD 1/3 1.2956 that I mai ditch or add, could become a longer term
– longer term long GBPCHF, short NZDCAD, long 1/3 AUDNZD on which I’ll add today, 3 hombres short on UMXN super tiny I might add there too if risk behaves.
– watching my beloved DAX 12450 would be a good entry but I may get in sooner
Great stuff as always Magics. Tempted now to join you on your DAX. Basing out well to resume the trend perhaps.
EJ short closed @ 128.15 for +124 pips
Strong arm you have there Besty
The arm is just the executioner 🙂
EURCHF long initiated earlier today closed @ 1.1615 for +63 pips
Selling EU around 1.1790’s SL 1.1812 for another leg lower 1.1675-90 (earlier long order missed by only two pips!)
Re selling EJ here 128.87, SL 129.27 for 128.15
Bestman, are you taking the EU short based on one off your wedges, if so, will you post the chart, TIA
I’m expecting another leg lower Conor to the high 1.16’s area (closing and buying again there against 1.1646). Sell order @ the TL resistance now around 1.1794 🙂
Thanks Bestman, much appreciated
Sure man anytime. Btw, this sell order is only valid for today. Not carrying any positions into this weekend except the long term PMs longs