Here are today’s Trading views and Ideas for the day ahead.
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Asia trading was mostly a non event today — Some super trades and ideas in our trading room yesterday. I like the following quotation from Jesse L. Livermore — ” Money is made by sitting not trading ” . Very appropriate for this time of the year. We dont have to chase events and feel we have to be constantly involved in trades. If the market is giving mixed messages ……….. let the trades come to you.
Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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morning all :
and yet again my sell zone worked pretty nicely … ceiling for today 1680-1.17 and if by any chance went to 1.1730-50 you never know a trump tweet ill sell it again
still believe uj should retest 112.50 and remain in favor to buy jpy only in crosses
remain dx dip buyer having a breather before hitting 98
Good morning all,
Ranges are working pretty well. Tweets are too.
And BOJ board’s brains must be overheating, just like the Summer in Tokyo, to find a solution to the QQE, YCC side effects without sending the JPY much higher. In Japanese tradition they may be able to pull it off. More on that later. There are a few possibilities to do it without to much of a shock. Nevertheless I’m keeping a small GBPJPY short as I reckon JPY could find a bit of traction on the “buy the expectations” going into BOJ and GBP to find offers on rallies as Brexit and data should prevent it from flying to high imo.
I’m also keeping a tad long EURGBP as long as 0.8890/00 holds.
In the meantime USD should find dip demand as the market prepares for Friday’s 4.8% GDP reading as been leaked or hinted. I’ll be jobbing a few pairs from the USD long side over the day if I find decent value. US PMI’s are the next gauge after European ones came out mixed between manufacturing and services. A beat here would certainly see USD tick up a bit more later on .
Safe travels and happy hunting
Morning folks
Still trying to get my feet back under the trading table aftermy long break. yesterday i took a nice chunk short NZDUSD from 68089 and TP`s 6780
Today I am short NZDUSD again 67928 and short Cable 1.31182. perhaps a little early with those two on reflection. I need Uncle Sam to show a leg.
other than that, i am long WTI`s again from 68.19 on a CFD.
Just easing myself back in and developing the old mojo lost whilst away.
Happy hunting folks
So happy to see our friend Mike P doing a bit on the live blog and contributing to our trading room. I’ve met so many great people and never stopped learning . The list is endless and incudes Peroni ?
Sticking with my long Yen bias .
I tried to get long ( kept the core short ) USDJPY in Asia because of the largish option expiries in the pair circa 112.00 and have quickly switched back — Holding the short EURJPY and have had several takes from others including Kiwi …. Long Yen seems the way to go – Have to feel the PA
Yes, having Mike joining us is one of the greatest thing happened to this site. Looking back, about one year ago ,i was still someone trading poorly, but with the help of all authors(masters) here, now i’m confident with each of my trade. Especially Dubsy, who had helped me to remove all the useless things on chart, and teach me the right way of using Fib levels, patterns, etc. I wish Mike will share his in depth knowledge and experience with each of us, and help all those not yet successful traders like me making less mistake. PLEASE
Great to have Mike P onboard to guide us on our FX trades, esp his calls on cable. As a cable trader I look forward to his insights each day.
Spike in USDTRY but didnt manage to reach top from 2 weeks ago at 4.976, nice try though
New shorts for me again 4.905 and 4.84 lets see what happens
edit closed some 4.86 already
Hi Marek,
both side could make money today. I had a few longs on the way up making a nice bit of cash. Still haven’t given up seeing it at 5 at one stage but not sure of what lies beyond.
Happy trading and grabbing funding being short!
Yep its a good two-way business like Mike P. used to say 🙂
Went in again at 4.90 , no hurry as you say carry is great for shorts.