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The last day of the trading week is upon us once again. It has been and interesting one. Still more questions than answers with regard to the future direction of USD and equities.
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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Happy Friday folks.
Updates;
USDCNH short added to at 6.95 as per the long running plan. It’s moved back down again but the upside pressure will remain while trade wars are still ongoing.
GBPUSD – Bid at 1.3010 for adding to my longs. Probably around 25% of the move down in GBP was Brexit summit disappointment, though I’m not sure why as we knew what was coming before the week started, and we didn’t hold the losses then. The rest was the general risk off tone we saw yesterday.
USDCAD – Shorts added 80, again as per my building plan. CAD CPI might give me a chance to lock in some early profits or better levels to add to shorts. I’ve got a plan both ways so I’m happy with any outcome. Depending on how things pan out, I’ll look towards 1.31 for another small add.
Have a wonderful day’s trading folks.
Good morning,
-CAD CPI day, last clinching data point before next week’s BoC rate decision. I’ve been short for a while EURCAD and smaller, more actively trading USDCAD. I just covered a slice of the ERUCAD shorts @ 1.4941 to leave me room to manoeuvre on this afternoon’s data. USDCAD is tiny compared to normal position size for the same reason. If we get a beat, both will increase again providing I’m fast enough to add. On a miss I may cut the USDCAD and just run the smaller EURCAD depending on the size of the miss.
-I was short EURUSD yesterday as called in the room, took profit this morning @ 1.1437 but not before being stopped at B/E 1.1508 and re-enterering 1.1498 on the Draghi blip. Still a healthy 60p banked.
-Still running the small EURNOK short . 9.42-54 are the levels I’m watching.
-And finally I entered a USDCNH short this morning at 6.9380 after 6.95 rejection again yesterday, data and PBOC comments now behind us. Leaving room to roam up to 7.00, it’s small for now.
For the rest I’m not sure about the direction today, retracement or armageddon on the stock mkts . Will trade accordingly. EURUSD 1.1420/30 -1.1500 seems to be a good range to trade inside or look for breaks.
USDJPY 112.00-112.80 will be my points of action, I’m finding it rebounding pretty well after each risk sell off. I feel more comfy buying a dip than selling a rally. Crosses are a different animal. That’ll depend on the other currency of the cross rather than JPY.
GBP went a bit deeper than I thought even as I understand the market disappointment not having had the confirmation of a November EU-UK summit date.If we get another sell off today, I may give GBP a long try depending on official comments. The 1.2950/80 zone or equivalent in crosses seem attractive for a Monday rebound.
And we are on the doorstep of the major 0.9985/00 zone USDCHF. I have the impression I’m missing something in the nature CHF is trading. But in any case it’s a make or break here for the currency.
Safe travels and happy hunting.
Ahoy hoy.
Isn’t it always the case that when you’re forced to take most of the day off trading as I did yesterday, things move 🙂
I did manage to place a few trades during the day, such as short GBPJPY and more Dow.
Today I’ve traded USDCAD short from 1.3062 and a short in USDCHF at 0.9973. Big level in the later especially below the psychological 1.0
Have a super day and a relaxing weekend. ?
I’ve taken a small long Eur Nzd, the move down has been impressive but I expect some support here.
Wotcha Tally. How’s it going?
Not too bad Ryan, still solvent :P, how’s things with you? I like the CAD idea, should be a real mover today.
All good thanks. Our platform is going from strength to strength.
We could be in for some fireworks on the CAD data this close to the BOC.
Good to hear and well deserved, you guys are the best in town, hands down, I have a few questions about your platform, I will drop you a mail.
Sure thing. Have you got my email? If not it’s my first name at the site (or use the contact form link in the top menu).
Will do.
Just joined you mate.
Needs to bounce here or we could be in for a 100+ more downside