EUR/USD & GBP/USD & AUD/USD Forex Trading

Quote from increasenow:

10am CST
short GBP/JPY at 160.51
stop: 161.51
target: 160.00

4 hour chart looking heavy...downside expected...
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got a +40 pip winner on this one...with the other GBP/USD +15 win...got 2 back to back winning Forex trades...yee haw!!!...what's next???????
 
Quote from ryank:

GBP dropped about 130 pips in no time after the interest rate announcement this morning. I didn't catch any of it but it sure was fun to watch.
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It was fun but I just froze, it was really weird! I heard the news about QE, I'd already got a sell ticket up ready to go on the off chance, saw price going crazy......and just froze!

Ah well, some you win, some you just miss altogether :(
 
Quote from cabletrader:

It was fun but I just froze, it was really weird! I heard the news about QE, I'd already got a sell ticket up ready to go on the off chance, saw price going crazy......and just froze!

Ah well, some you win, some you just miss altogether :(
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Why'd you have a sell ticket on the ready? Was there something you suspected? Or did you have one buy and sell at the ready?
 
Quote from cstfx:

Why'd you have a sell ticket on the ready? Was there something you suspected? Or did you have one buy and sell at the ready?
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Nope, just the sell, I was even prepared to accept Oanda's crazy spreads!

Most fundamental analysts were saying for days an unexpected announcement today of any expansion of QE would be negative for sterling, Daragh Maher (Calyon) mentioned it in this clip (p50 this thread), and I made a reference to it in this post last night about decreasenow's short cable.

I can't say I fully understand the economics behind it but going by what Redeker said after the MPC it seems related to 1.5% of rate hikes being priced in and needing to be priced out, and also the need for UK to rely on exports as domestic consumers aren't buying, they're all maxed out, so a weak pound is obviously exporter friendly. All that, coupled with the psychological 1.70 level and the swift move we've had up and as Maher said the need for a correction.....it all pointed to a short. It was one of those rare trades when all the ducks lined up and it just seemed so obvious.

I'm pretty annoyed with myself for missing it, I still don't really know what happened!
 
Well I wasn't even looking for it as I kept hearing that the next area of resistence wasn't until 7250. Also, last month they were keeping QE the same so I never expected them to increase it. (guess it helps that it is your backyard)
 
Just short GBPJPY at 160.05, Stop Loss 160.60, Profit limit at 159.33


This is moving - was 159.94 when I started typing and its 159.72 now

Late post ... I'll let it stand ... sorry for the after the fact
 
Quote from increasenow:

1:47pm cst
short GBP/JPY at 160.05
stop: 161.00
target: 159.85
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got a winning +20 pip trade on this one...3-0 on the 3 last Forex trades...2 were GBP/JPY and the other 1 was GBP/USD...thankful
 
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