Spot FX Day Trader's Thread

Jap lunch is 2 hours after the open and lasts 1.5 hours..

It's 9PM - 10:30Pm Central US time..

thanks mate not bad 1.5 hour lunch break so they can all rush off to the nearest kareoke bar and have a few Asashi's.

the ball goes to the Chinese during that time and catches up when the Japs come back online... The Chinese are certainly strengthening in Asia as of late, but the Japs are still twice the Chinese and will be the big dogs for another decade..

t/p A/J 7529

I also notice when the Chinese HK open an hour after the Japs can be as good as the Tokyo open sometimes.

Sure man.. actually the Australians set the stage quite often, even with only 25,000,000 people compared to the billions of Asia.. it's not happening lately, but when risk is uncertain, watching the ASX can be a bellweather for the Asian giants. You just need to have the wisdom to know when to watch the Australians and when to ignore them.

Even so the West continues to be like a bowling ball dropping through an Asian paper towel.. The US has the greater wealth and volume of trading in equities but the true giant in FX is London I've not quite understood why, but the volume in London requires no explanation.. it's just the way it is.

Anyway, this will help your morning activities.. notice the straight line on the chart.. that's sushi time!

http://e.nikkei.com/e/cf/fr/market/nikkeiindex.cfm

There's a rumor exciting the market that certain German banks have passed their "stress tests" .. useless and sellable imo..

good night kiwi.. need to hit the hay

Good stuff ....some interesting info there thanks Pippy....

OK what is your local time?....go and dream fx lol

short A/J 7550 s/ -15

Left a bit on the table in that last A/J trade currently at 75 28 was out earlier at 7540

There is a heap of European banks due to pay US$540m this week of special 1 year loans borrowed from the ECB.The ECB have decided not to renew these 12 month loans but are offering them on a 3 month basis.

This will obviously will put a lot of pressure on the interbank lending market.The weaker banks will be up for more interest and will be in the difficult situation of trying to roll over the loans every 3 months if they can.I think Thursday is the day so worth keeping an eye on the Euro (as always).

Strange trading patterns at the moment.....U/Ch goes to intra high and most else follows it up instead of down.

IMO top should be made around this zone, with an ultimate 1.52 previous daily support ought to act as 'brick wall'. My vola analysis points to range expansion nearing day by day. I am more interested in selling upon 2nd failure swing just below current high of 1.5128 (spot)/1.5130 (B6U10). With 1.55 previous swing high GU remains in down trend, so if down trend is to continue price needs to establish current swing high somewhere below 1.55. I think it ought to take place between now 1.5 & possibly 1.52.

Sounds good, I like reading your analysis on things, always interesting

long cable 14975 s/l -35 target 15060

stopped -20 on EU and that's the good news.. the bad news is that I'm -80 on EJ..



good old wacky forex..

taken 20 on cable, also got the red hot poker treatment by London open on EJ

I'm short EU 1.2992 s/l -35