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Exciting times to be involved in markets. Global Equities feeling the chill with a direct knock on effect to FX. — Some great views and trades being made and discussed in the ForexFlow trading room .
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Good morning all,
-The long cable taken in the room @ 1.2178 went well. Partial profits taken @ 1.3215 and 1.3240 overnight.
Looking to reload along the 1.3175 line if nothing else changes, that is in essence no bad brexit news.
-Still small short EURGBP, doesn’t move much. Monitoring each side of the 0.8725-55 range for possible action.
-Short EURNOK @ 9.4850 after Norway CPI yesterday. I wouldn’t like 9.53 to go decisively for this one. A return to 9.43/44 could see me tae some off as we’re having difficulties to break this zone for now.
I’m trading faster jobbing moves still. The equity/rates picture is going to be traded again. Scalped some long USDJPY early doors. I expect some form of retracement to creep into the markets.
Mention for the NOKSEK . We’ve broken a 3 year old box yesterday with the top 1.1040/50. IF Sweden’s CPI would disappoint, NOKSEK could move towards 1.12/1.13 soon .
Safe travels and happy hunting.
Sweden’s CPI beats, the yoy 2.3% from 2.0% . NOKSEK no deal.
It does confirm Nordic CPI’s creeping up and helps EURNOK back down to 9.49. I’ll take that too.
waiting to short euraud , it look reversing https://www.tradingview.com/x/sOB2OQ6u/
Ahoy hoy
My Dow trade has bought me more than a few cases of good vino. I took some profits again in Asia. Keeping a decent core and a good collection of positions from higher up accumulated over the past few weeks. I intend to sell / add on the futures in this session, hoping for a continuation of the move.
GBPUSD longs smokin’ nicely
I suggested trading USDJPY to the shortside here yesterday on a failure to hold 113.17 = Happy dayZ.
My bias hasn’t changed. I’m selling USD on any intraday rips until the market tells me otherwise .
Have another super day ?
all hail my DARK LORD
Good Morning Dubsy – whats your thoughts a stock crash this October? we had a fall yesterday and usually before the crash we have a large fall so could this be the 1st step in a major correction?
Morning Johnners.
That’s the big question that I am trying to erase from my mind at this present time as it can effect the psyche. I’m taking it day by day, session by session.
October being a scary month is well documented. P/E ratios are at crazy levels and expectations, yet they have looked crazy and unsustainable for some time imo and the market has been happy to ignore them.
Lets just say that if equites take out the highs across the Indices in the near future I will be surprised but not shocked, There is a correlation between market corrections and rate rise cycles, There is also a good argument that the China trade war, although in its infancy, could spook the short med term investors.. There’s an interesting chart regarding P/E’s that is self explanatory and has proven quite prophetic
https://uploads.disquscdn.com/images/07309d3c3ba9464908865e194139607e2373d0ab7e4753175946287868f424db.png
I think Friday begins earnings reports for the large US companies I guess they could impact the market. Bonds and interest rates have changed along with higher energy prices and trade wars so lots happening that could impact the stock market – I wonder how the emerging markets are placed – I have read they have been putting money into the US if so maybe now would be the time to switch out of stocks? I guess earnings results have to be good
Evening Dubsy great timing esp dow 🙂 I don’t follow the dow too closely these days never liked the ftse , These days I like the more slower moving tranquil fx 😉 . Dow can be a real white knuckle ride but has been much better behaved until now in the recent years esp since the Don got elected.
This stood out for me the other day as really significant
https://www.cnbc.com/2018/10/10/trump-says-the-federal-reserve-has-gone-crazy.html
say what you like about DT he is direct, I am still not completely sure about what he really trying to say other than the obvious and more over whether it will make the slightest difference, atvb Dubs Chris
GM all
First off, hats off to the top calling master who’s done it again with his Dow shorts. I’m sure he’d be the first to admit that he probably wasn’t expecting something quite like yesterday but as they say, you’ve got to be in it to win it. I’m running out of hats to take off for all his trading.
My trading pales into insignificance compared to the Dark Lord Voodoo Master but I digress;
EURJPY long – Got very lucky on that one as my TP at 130.50 was to be the high of the day.
And to show that you win some, you lose some, I dangled a bid in S&P futs at 2745 overnight (ahead of a possible level at 40. I expected Asia to catch the cold from the US but I think we see a bounce in Us equities, at least at the open, so I wanted to grab an Asia led dip. That missed by 1.9 pips and would have enabled me to lock in some good profit today and run a risk free trade into the US sesh. I still think a bounce is possible and but right now I’ve no trade and margin so I’m leaving it be for now.
GBPUSD long from 1.3107 is still on. Happy to let that run and I’ll look to add on a good dip. 1.3120/30 is one area I’m watching. I’ll be guided by the news and events for that though.
USDCNH is still making higher highs so I’m set to add back some to my running shorts starting at 6.95.
I’ll be watching USDCAD if it gets up to 1.31 as I still fancy seeing some CAD strength into the BOC. that trade will come right down to timing and so I’m not in a rush to enter as USDCAD short.
Have great day all and stay safe if you’re trading equities ans it’s going to be another volatile one in the US.