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Cool Runnings intraday swing trading

  • #1,261
  • May 27, 2009 11:43pm May 27, 2009 11:43pm
Quoting FX Dad
Since I'll be away from the comp, I'm setting my TP at 80 pips.
That went well... LOL. Hope no one followed that call, or at least broke even on it. It made a nice 40 pip move down, but then PA was ugly after that. JPY is losing value and the GBP spiked down too against the USD..... If I was able to watch the PA, I probably would have gotten out at B/E. This was a good example why I hate setting stops and not being able to watch.
I'll check back later.
  • #1,262
  • May 27, 2009 11:53pm May 27, 2009 11:53pm
Quoting FX Dad
That went well... LOL. Hope no one followed that call, or at least broke even on it. It made a nice 40 pip move down, but then PA was ugly after that. JPY is losing value and the GBP spiked down too against the USD..... If I was able to watch the PA, I probably would have gotten out at B/E. This was a good example why I hate setting stops and not being able to watch.
I'll check back later.
yeah the price action on the yen crosses has been buggy lately. i got burned last night on cad/yen.
"Don't trade to trade . . . trade to win." - James16
  • #1,263
  • May 28, 2009 1:35am May 28, 2009 1:35am
Quoting Flem26
yeah the price action on the yen crosses has been buggy lately. i got burned last night on cad/yen.
Price action on the CADJPY can be even more whippy that the GBPJPY. USDCAD is another one that can get crazy. JPY is in a major down trend now. GBPJPY has made a nice break of the trendline. That is the my perfect scenario to take a trade, when a clear pattern is broken, but I was away from the computer.

We'll get em Flem26. There's plenty of pips to be had! God bless FX!
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  • #1,264
  • May 28, 2009 1:51am May 28, 2009 1:51am
Morning Dad, been away for a few days with the holidays here, have I missed much action? Looks to be heading on up like no tomorrow! Pity I missed it . How far do you think it might go before reversing?
  • #1,265
  • May 28, 2009 2:38am May 28, 2009 2:38am
Quoting LinksMan
Morning Dad, been away for a few days with the holidays here, have I missed much action? Looks to be heading on up like no tomorrow! Pity I missed it . How far do you think it might go before reversing?
Hey Links!

154.35 to be exact! LOL.... Before it decided to reverse, I had looked at the Daily chart because it was Nov, since it has traded at this level. Looking at the Daily, there is no clear resistance until 155.50 to 156.

As for missing anything, markets were closed in UK (as you know) and in the US, so Monday was thin. Since then, it has been trading in a nice, tight upward trend. Wish I could say I was a genius, and took a buy at 149.55, but I didn't. It has made some nice range and trend bounces and breaks, but I haven't been near the computer much either. It's finding a little support at the 153.70 area right now, and if it breaks, I see 153.50 down to 153 holding pretty strong. If I can catch it, I'd like to take a buy off a bounce of the bottom trendline.

Hope you had a good holiday!
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  • #1,266
  • May 28, 2009 3:35am May 28, 2009 3:35am
Yes good break thanks made lots of birdies! We have a Caravan (Trailer) on a permanent site by the beach, nice to go walk on the sands and chill out.

You sure do like those physche levels. Lol You're right though stopped at 153.50 and now hovering at 154! If it gets above 154 and stays, perhaps it will continue the uptrend for a while yet. As you say the next weekly candle high is 155.85 back in early Nov.

Mmm a buy at 149.55 would have been a smart move if only you were a clairvoyant! Why is that clairvoyants aren't driving around in Rollers and usually work out of a tent at the local fair?
  • #1,267
  • May 28, 2009 3:48am May 28, 2009 3:48am
Quoting LinksMan
Yes good break thanks made lots of birdies! We have a Caravan (Trailer) on a permanent site by the beach, nice to go walk on the sands and chill out.

You sure do like those physche levels. Lol You're right though stopped at 153.50 and now hovering at 154! If it gets above 154 and stays, perhaps it will continue the uptrend for a while yet. As you say the next weekly candle high is 155.85 back in early Nov.

Mmm a buy at 149.55 would have been a smart move if only you were a clairvoyant! Why is that clairvoyants aren't driving around in Rollers...
By the Beach? I'm on the next flight out! Hope you have room for me! Glad you had a nice time away.

Yes, I love the Psych lines, but so does the market! You can see the S.R where I drew them! If you find a good place to buy a crystal ball, let me know!

154 is holding pretty well this hour. Now it is pushing up again, now at .27. It's almost my bedtime, so I will check back in tomorrow. Cheers!
  • #1,268
  • May 28, 2009 3:10pm May 28, 2009 3:10pm
For now, a range is setting up, much in the same way it did yesterday. Through London and NY, the GBPJPY stayed in a 100 pip range. Yesterday's range was 152-153, and today is 153.70-154-75. Yesterdays Tokyo session made a nice move up. It is the end of the month, so there could be more of the same, as it looked like there was a sell off of Yen and Dollars. Over the next few hours, I'd like to see the range squeeze into a consolidation, and then watch for a break of the consolidation.

Again, I'll be in and out of my office today, but if I catch it setting up, I will post it.
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  • #1,269
  • May 28, 2009 5:24pm May 28, 2009 5:24pm
Hey Guys, Just got a chance to take a peek at the chart. It started to make a consolidation, and then broke down about 20 pips, but for now, PA is a little week, especially if you look at the 5M and 15M. So, I'm just going to sit back and watch. I'll be watching for a trend or range break, but I'll be in and out also, so I may miss any moves. How's everyone elso doing? Room has been quiet.

Tatton, if you're around, hope you're doing better Buddy.
  • #1,270
  • May 28, 2009 5:36pm May 28, 2009 5:36pm
Just thought I'd point out a nice consolidation setting up on the GBPUSD. Just keep in mind, it is end of week and end of month, so PA can be more unpredictable.

EURUSD is setting up too.....
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  • #1,271
  • May 29, 2009 5:05am May 29, 2009 5:05am
Wow! I totally missed all of this. I have been busy with some personal issues, and family, etc. Haven't been real active in trading this week. Nice break out of the range on the GBPJPY. Made a small break down on the trendline, but that 153.72 showed good support for a few hours. Then took a nice 200 pip run, 100 pips after the range break.

The GBPUSD made a really nice break out of that consolidation I posted earlier. What gives with the Sterling? I need to go look at the news from today! Nice 150 pip run there too.

Well guys, sorry I havn't been much help this week. As I said, I've been busy with other things, and haven't been able to attend to my trading much this week. Have a good weekend all. See you in a couple days.
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  • #1,272
  • May 29, 2009 6:15am May 29, 2009 6:15am
hi fx and all

i think there is a bit of trouble in the US over north korea

be careful guys holding trades over the weekend

have a good weekend all

john
  • #1,273
  • May 29, 2009 6:22am May 29, 2009 6:22am
Hi Dad caught some of the trade earlier and bagged 40pips was asleep when you were making the big pips Uk time! Been a funny short week here too. Hanging around just under the 155 mark for a while now, think it may make a few more upward pips before the end of the week , shows no sign of reversing big time.

Have great wkend too, going to be warm and sunny here, yep even in England! BTW you are welcome to drop in, we have a spare room in the trailer!
  • #1,274
  • Edited 1:31pm May 29, 2009 1:20pm | Edited 1:31pm
Hey guys, my broker out of Switzerland just called me a couple hours ago to give me a trade tip. His long term picks are always pretty good. The last one he gave me was to Short the AUDUSD back at .9800 in July. Got out in December at .6500.

This time it is a BUY on the EURCHF. He told me that 1.50 is a major Psyche level and that the CHF government has made it policy to intervene to keep the rate above 1.50, to keep the price of their goods and services attractive to the EU. He is so sure of the move, that he said a stop at 1.4970 would be safe, and looking to hold it the rest of the year into a target of 1.6700. Looking at the chart, you can see where it has held above 1.50 since March.

This is for information and educational purposes only. Trade at your own risk. Sorry.... felt I had to say that.

Have a good weekend everyone!
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  • #1,275
  • May 29, 2009 1:23pm May 29, 2009 1:23pm
Quoting desperate
hi fx and all

i think there is a bit of trouble in the US over north korea

be careful guys holding trades over the weekend

have a good weekend all

john
I think you're right John. It may have a big effect on the JPY too, because of the proximity, and on going hatred between the two nations. A few of those test shots have been over or near Japan.

Have a good one John!
  • #1,276
  • May 29, 2009 1:30pm May 29, 2009 1:30pm
Quoting LinksMan
Hi Dad caught some of the trade earlier and bagged 40pips was asleep when you were making the big pips Uk time! Been a funny short week here too. Hanging around just under the 155 mark for a while now, think it may make a few more upward pips before the end of the week , shows no sign of reversing big time.

Have great wkend too, going to be warm and sunny here, yep even in England! BTW you are welcome to drop in, we have a spare room in the trailer!
Links,

I'll start packing!

Didn't you know, if you are going to start trading for a living, you need to learn to sleep with one eye open, watching you'r charts. It really gets scary when you have FX dreams.........LOL.

The 153.70-154 is holding up as pretty good support. Desperate (John) is right, we need to keep a close eye on this N. Korean situation. What a fun time to be a Politician. No thank you!

Have a good one Links! Hit em straight!
  • #1,277
  • May 29, 2009 1:46pm May 29, 2009 1:46pm
Quoting FX Dad
Links,

I'll start packing!

Didn't you know, if you are going to start trading for a living, you need to learn to sleep with one eye open, watching you'r charts. It really gets scary when you have FX dreams.........LOL.

The 153.70-154 is holding up as pretty good support. Desperate (John) is right, we need to keep a close eye on this N. Korean situation. What a fun time to be a Politician. No thank you!

Have a good one Links! Hit em straight!
Well, that support has been breached. Looks like it may hold below. If I would have seen it, I would have taken a short because that was a strong support level the past couple of days. For now, I will just sit back and watch, going into the weekend, and end of month, I don't want to be holding anything right now. Take care!
  • #1,278
  • May 30, 2009 4:17am May 30, 2009 4:17am
Quoting FX Dad
Hey guys, my broker out of Switzerland just called me a couple hours ago to give me a trade tip. His long term picks are always pretty good. The last one he gave me was to Short the AUDUSD back at .9800 in July. Got out in December at .6500.

This time it is a BUY on the EURCHF. He told me that 1.50 is a major Psyche level and that the CHF government has made it policy to intervene to keep the rate above 1.50, to keep the price of their goods and services attractive to the EU. He is so sure of the move, that he said a stop at 1.4970 would be safe,...
Hi Dad thanks for the heads up and sharing your brokers tip, appreciate it. Will watch it for educational purposes only of course. Off to get a matchstick to hold the one eye open for next week. Have fun
  • #1,279
  • Jun 1, 2009 12:31am Jun 1, 2009 12:31am
Hey guys,

Bank holidays for France, Germany and CHF. 154.50 has been the top of todays range today, and looks like it may want to make a break up. Something to watch. I'll check back later. Hope everyone had a great weekend.
  • #1,280
  • Jun 1, 2009 2:50am Jun 1, 2009 2:50am
Quoting FX Dad
Hey guys,

Bank holidays for France, Germany and CHF. 154.50 has been the top of todays range today, and looks like it may want to make a break up. Something to watch. I'll check back later. Hope everyone had a great weekend.
Made a nice break from the 154.50. Sterling is moving up across the board. News for the Sterling has been good as of late. Many top economists are still concerned with the credit crunch, which hasn't gone away, along with fears of deflation risk. There is an ECB meeting later in the week where these topics, especially deflation fears, will be discussed.

Remember, the EU bank holidays, so If you are up , you might want to protect profits with a Trailing stop. It will be interesting to see what the PA will look like going into NY.
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