J and Pino, in same boat with VWB as well, I will be montioring thread also closely as wellas with potential trades...
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Quoting pinoytraderDislikedThis is actually my second attempt to short cable. The first one was last week which failed. I am sorry I am having problems posting charts. It is holiday here today and I got the chance to study 4hr charts and was able to enter short at the change of the slope of the 8SMA. Entry: 1.8757 currently up by 30pips though price seems to have somewhat stalled at the current level.
Is there any other option besides hitting the attach file button in order to post charts? ThanksIgnored
Quoting jaydog777Disliked
The Australian dollar appreciated vis-à-vis the U.S. dollar last week as the Aussie tested offers around the US$ 0.7602 level and was supported around the US$ 0.7491 level. The pair gained about 75 pips last week. The August Westpac leading indicator was up an annualized 6.1%, down from July’s annualized 6.4% level.
The AUD retracted a bit durring the London session, also a perfect shooting start appered. (red arrow) If I was a gambling man i would short this right here .... but in the forex i always wait for perfect conditions
Hopefully the small support @ .7565 holds and we can look to short around .7675 area.
Regards,
J
Ignored
Quoting jaydog777DislikedThe British pound appreciated vis-à-vis the U.S. dollar last week as cable tested offers around the US$ 1.8856 level and was supported around the $1.8522 level. The pair gained about 270 pips last week. MPC’s Lomax said the economy “just pulled out of a soft patch while MPC newbies Sentance and Besley were in the minority voting for a rate hike this month. Most traders see higher rates next month. September inflation printed at a strong +2.4% with the core CPI rate up at 1.4%, its strongest showing since November 2005. The September claimant count printed at a five-year high; the jobless rate remained at 3.0%; Rightmove house prices remained elevated; CML mortgage lending was strong with BSA and BBA activity lower; and September retail sales were off 0.4% m/m. The Treasury reported the U.K. government is on track to record its largest deficit in more than one decade. Moreover, preliminary Q3 GDP expanded 0.7% q/q and 2.8% y/y, at or above trend growth rates.
Well it looks like we bounced off that support at 1.8850 area durring the London open... witch is ok because i have not entered the trade yet. Would have been nice to get in at that lvl for about 100 pips at this point ... oh well there will be more trades there always is ....
Looking at the 4h chart, hopefully the price stay's in the channel outlined in blue and bounces off 1.8735 area and makes another rally to the 1.8875 1.8975 area where we will still look to sell.
Regards,
J.Ignored
Quoting jaydog777DislikedThe Swiss franc appreciated vis-à-vis the U.S. dollar last week as the greenback tested bids around the CHF 1.2547 level and was capped around the CHF 1.2753 level. The pair lost about 180 pips last week. August retail sales climbed 4.5% y/y; Switzerland’s trade surplus printed at a record ₤1.8 billion in the first nine months; and Swiss bankruptcies were off 1.2% in the first nine months of the year.Last week’s high (1) was just below the 61.8% retracement of the 1.3285-1.1920 range and last week’s low (2) was below the 50.0% retracement of the same range. Upside resistance targets include the 1.2603/ 1.2764/ 1.2813/ 1.2963/ 1.3129 levels while downside support targets include 1.2521/ 1.2441/ 1.2286/ 1.2050/ 1.1990 levels.
the pair bounced off of this channel,the daily tunnel and a 1.2567 resistance point durring the London session. I'll be looking for it to get back to 1.2800 area to sell.
as you can see the last time it was at the 233 fib lvl there was 240 pips to be had ( A-B on chart).
Also looking at the weekly chat, we are at a pretty serious resistances lvl @ 1.2764 .... if there is a reversal I would bet it would be a big slide down.Ignored
Quoting jaydog777DislikedThe Australian dollar appreciated vis-à-vis the U.S. dollar last week as the Aussie tested offers around the US$ 0.7602 level and was supported around the US$ 0.7491 level. The pair gained about 75 pips last week. The August Westpac leading indicator was up an annualized 6.1%, down from July’s annualized 6.4% level.
The AUD retracted a bit durring the London session, also a perfect shooting start appered. (red arrow) If I was a gambling man i would short this right here .... but in the forex i always wait for perfect conditions
Hopefully the small support @ .7565 holds and we can look to short around .7675 area.
Regards,
J
Ignored
Quoting clam61Dislikedwhat was not perfect about this setup? was it because it was not at a high enough fib level?Ignored
Quoting pinoytraderDislikedHi J,
Still having problems posting charts. Anyway, you may also want to have a look at GBPCHF.
Regards.Ignored
Quoting jaydog777Dislikedexactly and as you can c the support I pointed out held up..... these are the target lvls the Vages wealth builder follows.
EUR/USD - When it reaches the third fib level [233] or higher.
GBP/USD - The third fib level [233] and higher.
USD/CHF - The second fib level [233] and higher.
USD/JPY - The second fib level [144] and higher.
AUD/USD - The second fib level [144] and higher.
USD/CAD - The second fib level [233] and higher.
EUR/JPY - The second fib level [233] and higher.
EUR/GBP - The first fib level [89] and higher.
Aud/usd target is still at the XIgnored
Quoting clam61Dislikedooh, i should brush up on the 4hr tunnel.
what do you use for your weekly trend indicator? do you use the weekly difference in MAs?Ignored