TRADE Signals

Big sell off of GBP over night (my night). Lucky I didn't enter into a trade as I would of done, GBPUSD - Buy limit @ 1.31060, SL @ 1.30550, which obviously wouldn't have worked.

No signals tonight. Only one not on the list is Sell ECAD between 1.4750 to 1.4800 area.
The first trade on UCAD on the Trade Explorer gave a bit of change but could have worked real nice had I hold on to it, but after so many bounces from support and the UCAD being so bullish, I decided to take a small profit than to risk seeing it taking off.
For tomorrow's FOMC announcement I expect the dollar to tank if they dont raise rates, so I'll be looking to short the US$, specially against the AUD. The trade might not be reflected on the trade explorer.

Potential trades:

AUDUSD - Sell limit @ 0.76160, SL @ 0.76580
GBPUSD - A lot of altitude with this pair. So would be looking for selling opportunities if price comes back up to around 1.31700. Otherwise standing by on this pair to see what eventuates.
EURUSD - Would be looking for price to get back up to 1.11870 before thinking about potentially selling. Another area to look out for on this pair is a sell limit @ 1.11985, SL @ 1.12140. Otherwise standing by on this pair for the time being.
GBPJPY - Sell limit @ 133.840, SL @ 134.080. A very aggressive trade and not the best. But for a small risk it could be worth it.

I have had a good month so won't be doing much more trading unless something spectacular shows up. At the moment there is nothing to much so I am sitting the above trades out as they aren't that fantastic (but could definitely still work) . Just something to keep an eye on anyway.

thanks Ollie for the signals. The only reason that I will not take your AUSD sell signal is because FOMC this afternoon. It can be a game changer and disregard demand/supply, supp/resist/, TP, SL, you name it. My perception is that they will not raise interest rates, which means that the dollar will tank and I want to trade against the dollar. My only question is how will the USDJPY will react? It had a pretty good sell off in the last few hours.
As far as the UCAD, I'm attaching a chart to show how nice of a range is stuck in, but again I'm waiting for the FOMC announcement.

These are my orders for the FOMC announcement:

PAIR BUY STOP SELL STOP
EUSD 1.1179 1.1121
AUSD .7620 .7550
GUSD 1.3025 1.2945
UCAD 1.3236 1.3163

Will review after the dust settles

Well, here is the story:

got filled long UCAD (darn it), so I'm long @ 1.3227 and I'm long EUSD @ 1.1185.
The other 2 orders were cancelled.

sl. ?

Hi Rick. You are definitely correct about big news events causing havoc. In saying that though more often than not the news events just speed up the process for price to reach the levels in which I trade. In saying that the AUDUSD trade isn't looking that fantastic. It did however reach a 1:1 with a 42 pip profit if you were fast enough to exit there or atleast take half your lots traded. It could still come down from here as it is still in an area of supply but like you said the news of no interest rate hike might have something to say about this. There is a higher supply level also so it could just be going up to this.

EURUSD - a nice sell off after hitting 1.11870 like I mentioned in post #763. It went down about 50 pips before heading back up. I didn't enter this trade, or any of the other ones I mentioned for that matter, as I am waiting for more pronounced setups as I don't want to spoil my good month. I didn't mention a stoploss for this trade either but would of been up about 1.12140 making it just shy of a 2:1. I should probably start putting them on a table so they are clearer to see for you all.

Ozzy news coming out shortly too. So if you have entered into the AUDUSD trade it could get very volatile. If it does head back up there could be more of a sell off around 0.76500.

AUDNZD - sell limit @ 1.04170, SL @ 1.04355 before the news comes out could be a possibility.

Ok, here is the status after the dust has settled somehow.

Still long UCAD @ 1.3227 . I'll be adding another lot at support that comes between 1.29 and 1.30 handle. This has become a "project" just like the GJPY previously, with the difference that the entry at 1.3227 was a REAL BAD entry which for some reason happened because I had a brain fart. I knew that they were not going to raise interest rates, so it was bad for the US$, and UCAD was extended. Anyways, I will treat my next entry as the first entry even though it will average it out. I know that the CAD will get weaker as Oil starts dropping again after this "low interest rate" drug effect wears down on the market. We are heading into October, usually a tough month as well. I will make my case on the UCAD later.

Sold EUSD @ 1.1226 for 41 pip profit.

Sold ANZD as recommended by Ollie but at 2 different levels (I want to do what he does of taking 1 lot off at a target point and then place SL at entry level and go with it).
My entries short on ANZD were @ 1.0426 and 1.0461 for an average of 1.0443. ANZD is reaching areas of resistance, but so far the drug still working on the market and should work for a couple of days more at least, so the commodity block is strong against the US$. Being that AUD and NZD are both big commodities economies, it seems that AUD has the upper hand for now.
Well there you have it.

My thoughts on GBPUSD.

Hey, thanks for the invite to discuss. I'm still pounding out my rules. Possibly we can bounce some ideas on this.
My 2 main rules, keep trade sizes small enough to keep margin available is #1 and don't add too early is #2.

This chart is a recent example of a bad entry that I traded out of. Note I didn't add until 100pips away. I have other better examples (I'll try to find them) where i was actually down 200-300 pips. Brexit and Turkish coup for example, where I greatly minimized my loss.

Sorry, the dates didn't come thru. 9/8 & 9/9 were entries. 9/21 was exit. In hindsight, I should have added at .7540 too.

Salvo, contact me by PM. I would like to chat with you, as I think we have the same way of looking at the market.

Out of my UCAD long at 1.3133 for about a 94 pip loss. The reason to get out was because the entry was not according to plan, it was a very STUPID order placement on my part right before the FOMC announcement. I was really expecting the US$ to drop and I should only have placed stop limit orders and not both buy and sell.

Having said that I was commenting with another trader that had added to the UCAD at 1.3027 another lot, my average would have been 1.3127 and i would be profitable right now.
Of course you say with hindsight is easy, but if you read my post 772, you will see that I mentioned support between the 1.29 and 1.30 handle. Only reason I didn't add another lot as I said I would is because first entry was not according to my trading strategy, so instead of adding to it (since I already missed a huge chunk of the bounce) I decided to take my losses and keep going.

Only position open right now is short AUDNZD which is killing me!!! OLLIEEEEEE!!!! help me my friend.

Wow, didn't realized that I had placed a stop order on the TE for AUDNZD and got triggered so I'm out on the demo account, but not on the real account.

Order to go long EGBP @ 8610. SL 8591 TP 8641

If I were to go long EURGBP I would wait to get in long at 0.85870, with a SL of 0.85600.

A couple of possibilities:

GBPAUD - Sell limit @ 1.70400, SL @ 1.70675.
EURAUD - Sell limit @ 1.47115, SL @ 1.47350. Ideally the SL should be at the swing high @ 1.47730. This would make this trade unfeasible. But the lower SL should be enough breathing space for it to work.
GBPJPY - Sell limit @ 131.290, SL @ 131.600.
NZDJPY - Sell limit @ 74.485, SL @ 75.020