The Ultimate Trading Edge

Ultimately, it's central banks day. ECB is expected to leave the rates unchanged. Traders are expecting with great interest what Draghi will say. EURUSD is holding pretty well above the 1.3440/50 support and if super Mario is not dovish enough the euro would rally strongly. US GDP is not that important because the data are before the government shutdown. Large deviation from the forecasts however could change the expectations for the future FED policy. Don't trade before ECB today and watch the forward points for the market's verdict. Currently they are as follows:
EURUSD
1M 0.85
3M 1.8
6M 4.2
1Y 10.4
If the points go up this is good for USD,if they go down it is good for EUR. Money market never lies and usually is ahead of the FX.

Binary strangle with ladders. Strikes 1299 and 1332. Total cost 13.2 pts, max profit 86.8. Gold was trading in a narrow range the last few days. ECB and US GDP may wake up the bull or bears.

1332 ladder closed at 19 pts, 1299 ladder closed at 46 pts. 60 pts profit.

Today is NFP day. I start buying strangles.

A lot of chart damage after the surprising rate cut by ECB. Super Mario sounded dovish, but short squeeze surprised the bears. Forward points show fundamental advantage for the bears. Key levels 1.3300 and 1.3550.

After the massive sell off Non-Commercials net long position decreased. Data as of 11/05.

You can trade any set up with the right option

Bias is to the downside,but short squeeze possible. Large 1.3350 expiry today. Gamma related bids around 1.3350. Dallas Fed president Richard Fisher said that "QE won't last forever". This could support the USD. Much more interesting will be the Janet Yellen's speech this Thursday.

Another reason you need an edge in trading
http://www.cnbc.com/id/101193139

Today the major event is Janet Yellen's testimony http://www.cnbc.com/id/101197030

Daily options volatility is higher. Large expiries and barriers at 100 for USD/JPY
Large expiry at 1.3500 for EURUSD
http://theultimatetradingedge.com/blog/?p=22

This morning comment and road maps
http://theultimatetradingedge.com/blog/?p=27
http://theultimatetradingedge.com/blog/?p=32

EUR COT
http://theultimatetradingedge.com/blog/?p=42

21 April, 2013
Hello Mr. Minev

You claim that you are a professional trader ! The forex organisation which i present have some questions to you. My first question is : Could you prove that you are real professionalist ?,..My second question is : Could you prove that you have not used unemployment benefits during 2012-2013?,…My third question is : How can you explain us your public presens in this photo caught on 17.april.2013
http://deneb.core.bg/index.php?item=...om33sjfhulls21

We hope to hear from you soon!
Best Regards

What are the non commercials? Is this data from COT reports?