EURUSD short‐term technicals: EUR’s gap lower is rare and warns of a rapid shift to the down‐
side; however other technicals have yet to confirm. In this environment today’s close will prove
important; a break below 1.38 would be bearish but a close above today’s open at 1.3843 would
be encouraging for bulls.
i've been following this hype of "orderflow" for the past few months (since november 2013 actually) and i really like the mindset it allows you to achieve. Of course, it doesn't guarantee 100% profitability but it does give you an edge.
Today i used the orderflow mindset in a couple of occasions:
Long UsdJpy through 101.65 as friday's high (stop level) was under scrutiny and we pushed all the way to 102 on US data!
Also, it's not as high of a probability play but i like Gold short around 1325.70s now, as we have faded the stops positioned at today's high print/current week's high print.
Along with the USD strength, it might trot down to 1318 /today's low and 1314 (friday's low) > both levels that harbour stops.
usernamehere: you got really small pic there! but i see you're on the right side of the flows so good stuff!
so Gold turned out to be a better opportunity than I expected. I took half position off at yesterday's low (stop level at 1819) and the rest at the other stop level (stronger) at 1314.
1314 is a 2-way level on Gold: there have been both buy stops and sell stops at the level so it's probably the level to watch for continued upside on Gold.
Watch out for GBP data today...personally i think sentiment favours Gbp vs. Cad (relative monetary policy stance) but we'll see what happens.
Morning everyone, so Gold turned out to be a better opportunity than I expected. I took half position off at yesterday's low (stop level at 1819) and the rest at the other stop level (stronger) at 1314. 1314 is a 2-way level on Gold: there have been both buy stops and sell stops at the level so it's probably the level to watch for continued upside on Gold. Watch out for GBP data today...personally i think sentiment favours Gbp vs. Cad (relative monetary policy stance) but we'll see what happens. Good Luck!
it seems there's been a shift from last week...i totally underestimated the potential of the trade and left an additional 30% of the move for others to reap.
Now Gold is going for the 1300 stops which is another interesting level. I'm not too convinced there will be many buyers around though... I also had to scratch an EurAud this morning. London faked out the buy stops at the overnight high and then gave an entry in line with the general sentiment on EurAud (soft euro vs. decent aussie stance via monetary policy divergences) but my trade management kicked in and had me scratch it no too long after. In 4709...out 4705 -_-
And finally...i totally missed Geppy. I had identified the Jap in play today, but got hooked on UsdJpy which is the least volatile of the pair and the weakest pairing as far as sentiment goes (Usd buying this week..so it's "strong vs strong"...not weak vs. strong).
But as clint eastwood said "want a guarantee? buy a toaster"...
in the meantime, make a plan with purpose and reason... "The first thing to remember about this week is that EU, AU and NZ markets are closed for Easter Monday. So it will probably be a slow start to the week. The Asian session between monday and tuesday will probably show the first directional clues this week. Also, Friday is ANZAC day in Australia and New Zealand so look for the fireworks on Pacific Rim currencies to finish on Thursday. A short and data rich week which will be interesting to trade."
