Ivan's Trade Thread, part II
- Thread starter Ivanovich
- Start date
I shorted several pullbacks in the USD/JPY last night, Oanda spreads were never over 3. I almost put a short overnight, hindsight showed it to be a good idea, but after yesterdays trading, I slept better with no open positions.
I have a support at 98.70 on USD/JPY.
Forgot what "support" meant
Forgot what "support" meant
JPY is very strong, and Japan was in good shape before this crisis, coming off a prolonged difficult period themselves... however, it seems very run up now (the Yen), and they were talking much about intervention - but I guess things can drag on and hit you when you last expect it. For now, they are dragging their feet at least - maybe they want to see the earnings season over first... and this malaise cleaned up a little. Then again - it might all just pass over and intervention on Yen not happening this year, that might also be prudent - as there is little help in those interventions, at least it seems so for Brazil and Russia.
Staying out of this so far now - it is seemingly endless small pops followed by sawing downwards on the charts.
Staying out of this so far now - it is seemingly endless small pops followed by sawing downwards on the charts.
Wow,
that was some pop on the Euro there...
A lot of fun - looks like some spunk has returned to the players.
I am doing some small "tests" to see if I am scalping correctly now - and it looks pretty OK, I am 3 for 5 with nice ups and small downs. Need to focus 100% when scalping - so no posting of trades in these conditions... I hold positions for as short time as possible - while momentum is still fresh in the "right move" and then just bail at when it seems slowing/reversing. That doesn't catch the big ones, but it keeps me safe... although I got +60pips on that pop there - and it was roughly 100pips up on EURJPY and 90pips on EURUSD - so I at least got half of the move - and that I got in just before it - that is good news for me at least. It seems I can read a little out of this again.
After the trade on that pop I read the Japanese exports numbers were strongly down. That will be working into the mood of the markets - so maybe time for a long-term EURJPY here...
that was some pop on the Euro there...
A lot of fun - looks like some spunk has returned to the players.
I am doing some small "tests" to see if I am scalping correctly now - and it looks pretty OK, I am 3 for 5 with nice ups and small downs. Need to focus 100% when scalping - so no posting of trades in these conditions... I hold positions for as short time as possible - while momentum is still fresh in the "right move" and then just bail at when it seems slowing/reversing. That doesn't catch the big ones, but it keeps me safe... although I got +60pips on that pop there - and it was roughly 100pips up on EURJPY and 90pips on EURUSD - so I at least got half of the move - and that I got in just before it - that is good news for me at least. It seems I can read a little out of this again.
After the trade on that pop I read the Japanese exports numbers were strongly down. That will be working into the mood of the markets - so maybe time for a long-term EURJPY here...
Is there usually a good play at the end of the day at the US close to play a reversal of the us mornings trend? Like the last half hour or something. I have noticed a lot of the last few minute moves lately toward the close. Kind of like profit taking. But not sure if thats normal or it depends on how big the move was that day or not. Thanks
My 2 cents.
When the US market (NYSE etc.) leads up to it's close, it's the only market open. If someone were scalping, it would seem to be something to pay attention to. If you were long-term, I would guess wider stops at that time?
Gringinho makes many references to US RTH.
Although, recently, while the Dow was gyrating, the fx trades seemed to be trending well.
When the US market (NYSE etc.) leads up to it's close, it's the only market open. If someone were scalping, it would seem to be something to pay attention to. If you were long-term, I would guess wider stops at that time?
Gringinho makes many references to US RTH.
Although, recently, while the Dow was gyrating, the fx trades seemed to be trending well.
Quote from Gringinho:
Wow,
that was some pop on the Euro there...
A lot of fun - looks like some spunk has returned to the players.
I am doing some small "tests" to see if I am scalping correctly now - and it looks pretty OK, I am 3 for 5 with nice ups and small downs. Need to focus 100% when scalping - so no posting of trades in these conditions... I hold positions for as short time as possible - while momentum is still fresh in the "right move" and then just bail at when it seems slowing/reversing. That doesn't catch the big ones, but it keeps me safe... although I got +60pips on that pop there - and it was roughly 100pips up on EURJPY and 90pips on EURUSD - so I at least got half of the move - and that I got in just before it - that is good news for me at least. It seems I can read a little out of this again.
After the trade on that pop I read the Japanese exports numbers were strongly down. That will be working into the mood of the markets - so maybe time for a long-term EURJPY here...
Funny that you saw that too. Could also be the pumping of the equity market causing the euro strength. I think MSFT earning were hyped and also the short covering near the end of the cash trading day.
I am going long eurjpy 125.45 - stop 124.79 - no target.
Also if eurjpy breaks 123.08 orders will be canceled.
Reaver or cabletrader must have entered a position.
