4 Comments

1. 

   H Dubsly on September 26, 2018 at 8:17 am

   Going to be a quiet day for me apart from the occasional scalp trade if the opportunities present.

   I’m not in the habit of trying to second guess gangtsa bankstas . What will be will be, and I’m content to bide my time and trade what I see after the event and the subsequent fallout and conclusions ( if any ).

   Yesterday’s NZDCAD trade posted here was banked for +80 in Asia – seeking a level to reload long. The long Aussie position played according to the script and I fancy another long after the FOMC meeting. USDCAD looks interesting at these levels – going to resist the temptation to buy in at this time.

   Have a super day and be extra careful with any open positions ?

2. 

   K-man on September 26, 2018 at 8:18 am

   Good morning all,

   Managed a little more of my USDJPY longs into FOMC later. Keeping 1/3 open. Stop(and reverse to be decided?) depending on the Fed’s statement through 112.30 . I don’ see to much reason why they would adapt the rate path unless they have Trump and the mid term elections in mind. On the other side Abe-Tump will have a say in the direction of the JPY. If trade talks go well without tariffs, JPY should keep the positive correlation and weaken a bit further. That is if Trump leaves Abe in peace over the JPY level.Infrastructure investments should equally keep JPY flowing as Nikkei( https://asia.nikkei.com/Politics/International-Relations/China-and-Japan-kick-off-joint-effort-on-foreign-infrastructure ) reported last night.
   If my direction is right, I see a break through 113.15/25 for a return back to 115.

   Added to EURGBP longs on last night’s dip to 0.8925. Average long around current 0.8942. Let’s see if we get some Buba joy in the next few sessions. 0.8970/75 first hurdle.

   Sold small EURAUD this morning 1.6212 but that may leave the house soon. Unless GBPAUD dumps in which case I can wiggle out of it through that leg since I’m long EURGBP.
   Finally bought back EURNOK short for now @ 9.55. The 9.5360-5450 support zone is doing a job and NOK hasn’t enjoyed to much of the oil rally against my expectations. Could re-enter but leaving some room in the books.

   That’s it for now. I’ll let the market adjust its positions going into FOMC which may create a few unpredictable waves.

   Safe travels and happy hunting.

   • 

     K-man on September 26, 2018 at 12:00 pm

     Sold a decent part of the EURGBP on the 12.00 bells ( buba fix time) . Waiting now, there seem to be decent natural GBP bids regularly popping up. Month end? Something to do with the M&A’s? Been going on for a few sessions now. Treading carefully.

3. 

   Ryan Littlestone on September 26, 2018 at 9:42 am

   Morning traders

   Given the PA yesterday and today, we’re well into Fed mode and I concur with Dubsy that biding one’s time is probably the best course of action. Sometimes you’ve got to accept that the market isn’t interested ahead of a risk event and if there’s no clear trade, then there’s no clear trade. There’s no need to chase anything. Markets will be here tomorrow and the day after. The last thing I want to do is getting into a position in a market that just dies and leaves me with an uncomfortable position into the FOMC. If something happens out of sync with the PA, I’ll look at it but otherwise, I’m on my hands.

   To that end, I’ll look to TP the balance of my EURUSD longs ahead of the Fed, and I’ll see what opportunities arise after.

   The only trade I’ll keep on is the USDCNH short, which is a longer-term trade and can ignore the Fed noise.

   Good luck and please stay safe over the Fed.