Trading with Luke

UPDATE: added to my USDJPY longs earlier

4hour bullish bell again. Well-defined and tight SLoss levels allow for limited risk. Commented about it on the UJPY thread

Morning everyone!

New position: EURUSD on LDN open (remember , I am bearish USD in the medium term, over next few months at least, except for USDJPY and USDCAD)

USDJPY: still long there, not much development on that front so far

As it's Friday we may not see much action, so next week might be the next time I post again. Wishing everyone a good weekend

Morning everyone!

New position opened: FTSE100 short. SL just above last week's high

Update on EURUSD long posted on 17th July: I have just now closed it for 67 pips profit

If my FTSE short gets stopped out, I will be looking to short again at around 6400, near the lows of the daily candle of June 8th


Also now exited all my USDJPY longs taken at around 107, for just under 20 pips profit.

The FTSE short is my only position atm. Might be looking to short USDJPY soon though

Hello guys. Still short FTSE. Today the market made a bit of a movement down, but it's still tentative

I also just now opened a short punt on Cable with tight SL

New position: Long USDJPY

playing the range and looking for a spike up (yes, still expecting a spike)

Luke is having a quiet August! Liquidity is typically low at this time of the year, so just nibling on opportunities here and there, with no big commitments.

Here's one more punt, just entered long FTSE 100. There's no confirmation via a couple of bullish bells at least on the 4hour chart, let alone the daily, but if there is one, I will add around these levels.

Stopped out of FTSE100 long, for -32 pips! That was quick!

Also now long UCAD, short SP500.

Long USDJPY since yesterday (posted in the USDJPY discussion thread)

Things seem to be heating up in late August, hehe

Stopped out of sp500 short, exited UCAD long.

Also entered a EURUSD long now. I'm heading out for the rest of the day so will update next week, if my positions survive! Happy weekend everyone!

Heres the eur/usd long on the daily charts

Morning everyone!

New position: Long FTSE100 @ 6048
Here's how it looks on the weekly chart.

The FTSE is lagging other majors because of Cable's rise, but hopefully it will catch up and in a big way.

Western major indices are lagging China. China posted a huge 2-week spike up above prior highs before consolidating ever since. Most Western major indices haven't even spiked up yet above prior highs. If I'm right to expect them to follow China's lead, then I want to buy the index that is lagging the most, and that's FTSE.

Then again, FTSE's lag may indicate other major weaknesses, beyond the Cable appreciation effect. We'll see how things pan out

Closed my FTSE punt at break even. If price breaks a bit above yesterday's highs I will look to rebuy, otherwise it looks like it will continue down.

Really curious as to why the FTSE is lagging other indices so much. Something may be rotten in the United Kingdom!

One possibility is that the market anticipates a Cable appreciation that is even stronger than EUR, or perhaps it is spooked by the prospect of hard Brexit

Trying a short on the FTSE. I will close it if it rises above yesterday's high

Moved the SLoss of my EUR long taken at the close of last week, to break-even. Currently in profit by just over 50 pips
Closed my UJ long from 105.80 for 20 pips profit. Meh!


Also entered into an SP500 short at 3478, let's see how that goes!

New position: Short EURGBP@ 0.8954

If price breaks the low of last week and even more so the low of the week of July15th, we could have a nice decline

Hello everyone!

UPDATE on open and new trades as we approach the end of this week:

EURGBP short @0.8954 still open. Now at a minor loss as the price is hovering around that level and trying to recover.

SP500 short@ 3478 still open. Currently at a loss of -18pips as the index is touching 3500

FTSE100 short@6055 still open. Currently in profit by 44 pips as the index is slowly sliding

EURUSD long taken last week @ 1.1762 : I got stopped out by 4pips during the Powell speech whipsaw, but luckily I was actually online and watching so I re-entered long@ 1.1772. I consider the speech and the policy about inflation targeting etc. as utterly inconsequential. Currently the price is at 1.1898

USDJPY short@ 106.8, 106.12 and now 106.76. This pair, like all markets, whipsawed around during POwell's no-news speech and then came the news about Abe's imminent resignation, which is also no-news. So at the cost of some lost sleep I was able to add to shorts during JPN session as I expected some drama. Picked up the short @106.76. Price is now is back down to my earlier short entry levels. I tend to post more about my USDJPY trades in the USDJPY discussion thread, but here's a 4h chart of the JPN Yen drama so far. I believe this pair will ultimately head down to 90 or lower, before a huge leg up.

'till next week! I'm off to catch up on some sleep!

Hello! End of week (almost) update:

New trade just entered into now: Long EURGBP @ 0.8936 (posted below on daily chart). I closed my short on this trade from .8954 for a profit of 18 pips and reversing now

SP500 short@ 3478 still open
FTSE100 short@6055 still open

EUR/USD long @1.1772 just closed now @1.1905 for a profit of 133 pips
USD/JPY shorts still open. This pair has the most potential for whipsaw spikes before showing its true direction

See you next week!

Good afternoon! Updates:

Long EUR/GBP closed for break-even. Price isnt really budging

FTSE100 short@6055 - Now closed @5985 for 70 pips profit
SP500 short@3478 still open
USDJPY shorts still open

Hello!
I have a couple of updates, so here we go:

SP500 short@ 3478 - CLOSED@3499 , booking a loss of 21 pips
USDJPY shorts still open

Last night, a couple of hours before NY close (NY session is in the afternoon and evening for me, since I am UK-based) I also entered into a USDCAD short@ 1.3033

Looking at the oil price charts, it looked to me as if it's about to spike up. But I decided to play it via a USDCAD short, ie expecting the CAD to strengthen further vs USD. The same thing will probably happen to AUD, perhaps even more so.