Chinook's EUR/USD (E/$)Mumblings

Thomson:

"14:50 FX OPTIONS: EUR/USD Short End Heavy Ahead Of Expiry] London, November 11:
The EUR/USD 1-wk contract has eased another fraction lower to show 8.35/8.80
from 8.45% bid as spot consolidates close to the 1.2900 region. With the US out
for Veterans Day holiday, option strikes have influenced movement in the PM
session. Expiries are noted at 1.2900 and 1.2925 and this has offered support on
dips. Tomorrow sees strikes at 1.3000 in large size and modest size interest at
1.2800 and 1.2850."
 
Thanks, but why do you think we will gap down? Sorry if it's a dumb question, I just woke up from a 12 hour sleep. Of course, I bought some EUR as soon as I awoke :)
 
Thank you, but I only know them as being about 10-11 ticks in my favor thus far. Does someone know something that I dont? Did European bonds have a big sell-off or are you just anticipating a sell-off of ZN due to the stronger stocks/weaker oil? Look at the chart of USZ4 (which is what I sold), looks toppish and turning to me. Best, Neal.
 
Quote from trade-ya1:

Thanks, but why do you think we will gap down? Sorry if it's a dumb question, I just woke up from a 12 hour sleep. Of course, I bought some EUR as soon as I awoke :)
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Oil mostly I guess, and you also have the short-term trend in your favor.
 
Closed the position at +39 ticks.
This week does not look the most scalping friendly to me. I have stayed away from scalping since I have difficulties reading my signals .. maybe I have to adapt them - or make them adapt better. However, I suspect that it's the options-actions which they aren't catching.

Today's "action" has been easer to get signals with future much ahead of the spot most times, but it's so thin .. and MMs hold the price-level up .. run some stops .. then fall back for anyone who followed them. A lot of trapping today.

I guess I'm just tired after following the action "too much" over the last months. :)


edit: the prevised range seems to be the theme for the rest of this week.

edit2: trading around and over 1.29 has been very "strange" - and tense.
 
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