Divergence Pip Range Trading

Absolutely tiny range on EURUSD and GBPUSD seems to be consolidating the post news sell off.

I'm going to catch an early one and come back tomorrow with the ECB decision on the table.

Currently short GBPAUD from 1.6879.

Big twist in strength, got fooled by the weakness at London open and GBP has now become the strongest currency.

Out for -40, chart to follow.

Here's my 2 trades from GBPAUD.

As noted, 1st trade went one direction for -40, I felt GBPAUD would drop from near the daily open but GBP went on quite the run.

Re-entered 20 pips better and took +37 pips to be just shy of flat for the day.

Currently short GBPAUD after a successful short earlier, pretty much the same setup so will post the chart upon completion.

Bit delayed but here's the corresponding trades.

Not sure how I've ended up focusing on GBPAUD the last few sessions but as it's had some good movement it's seemed the logical pair to trade.

Nice way to kick off the week with GBPAUD (surprise!).

Price went lower and I was looking for price to hit the 1.6840 area as observed on the time based chart:



On the pip range chart, I used two entries at half size to get a better average. Maybe exited a tad early but pleased with the result.



Currently short EURUSD also, 1.0615 next area I'll add.

Here's the trade/s from EURUSD. Maybe entered too soon but I did save the largest clip for the last entry and thankfully that turned out to be a good position. 1.0615 area was a decent level of resistance and coincided with the cam level for the day. Took the 3rd position for +21 to make a positive trade.



Back tomorrow.

A nice set of trades here on GBPAUD.

CPI data caused GBPAUD to have a mini rally past the big handle of 1.7000 and intially entered at 1.6988 and added further at 1.7009. Felt this was a reasonably safe setup given data was mixed and price had extended beyond the logical levels.



Watching EURUSD for a long but the tiny range is putting me off until price drops another 20 pips or so.

All gone quiet so going to get an early night in.

Back tomorrow.

If anyone has any questions, happy to help.

Been waiting for 3 hours for a setup and finally GBPAUD springs to life.

Currently long GBPAUD, reached a key level of support, will be quick to exit should it not hold.

Exited the trades for a profit, wanted to be out pre Carney talking (however he's not directly talking about the GBP).

I very nearly entered at 1.6870 due to boredom but held off due to price being in no man's land and the range being so small at the time. Sure enough, price extended down to the key support level mentioned and evidenced here:



The reason for the 2 entries was I was willing to risk that it would rally off of support pre big news announcements later in the evening. Had it broken, I've had exited quickly as if/when it breaks, it could be a rapid decline down.

Done for the evening and back tomorrow. Interesting that again, GBPAUD was the traded pair. I have been looking for further opportunities but haven't seen anything tempting enough.



Good luck to anyone trading FOMC.

Well, FOMC certainly stoked the fires in the FX market. However, EURAUD has stayed in a relatively tight range for the last week as evidenced on the one hour chart:



Looking at the pip range chart, I felt 1.4180 area should be a good area to get short and entered firstly at 1.4175. Turned out to be slightly too keen and added to the trade at 1.4195 for an average of 1.4185. Exited at the last resistance and potential turned support level around 1.4170.



Still lots of Red News to come so staying wary of entering at the wrong time.

Quick trade on GBPAUD. It popped higher quick quickly and was running into a good resistance area and felt it was a good chance at going lower. +25 pips and done for the night.

US Dollar running rampant across the markets and many pairs breaking multi month/year highs/lows. I wonder if EURUSD will reach parity before the end of the year?

A very busy day in the Flipflop household with 3 birthdays all on the same day!

First trade of the day was a great looking setup but poorly executed. I entered at 1.0450 and originally targeted 1.0430 for +20 but got greedy and extended it to +25. Price reversed right off the TP and took me out for breakeven.



The next set of trades have to be some of the most painful to watch in a long time. GBPAUD has been whipping up and down a tight range all of the UK session and driving me mental! I was targeting some shorts due to the lovely descending trendline on the 1 hour chart:



3 trades in total and all 3 in a good profit but man, these trades tested my patience. The speed at which it was bouncing around made it tricky to time exits and at times, I had to just watch something else. I stayed with it however and price eventually broke through some intraday support at 1.6910 area and got a good result to end a productive week.



Have a great weekend.

Quiet start to the week with no trades yet. Waiting for GBPUSD or EURUSD to drop lower yet or burst higher.

Getting involved with a long on GBPUSD with stops below 1.2380 at this stage.

Out for -15, will look at re-entering further down...chart to follow.

Here's the chart from last night. Both happy and sad! Pleased I managed to exit for a small loss but sad I failed to realise the momentum in the weakness of GBP.

I'll see how tonight goes and might call it time until next week.

Only the 1 trade last night on EURAUD for +25. Price was hovering around a good resistance area and initially went further than expected but slowly came off the highs and eventually found the target.

Missed a great trade on GBPAUD tonight but watching for any more opportunities.