LiveFX Trades/Setups

Quote from billyhunt:

Here is an example of chart with Murrey Math Lines + other indicators. Yen has been particularly weak of late - with great ranges - Note hear the Murrey Math Fractal spit and 2-8 to -2-8. There was also similar set ups today in USDJPY & AUDJPY.

26-1%20EURJPY%20MM%208-8%20Move%20KnovaMind%20LiveFX%20Chart.gif


Yen has been particularly weak of late - with great ranges - Note hear the Murrey Math Fractal spit and 2-8 to -2-8. There was also similar set ups today in USDJPY & AUDJPY.
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Was nice bounced back 142.20 and back to -2/8 to let you do this trade again (not that I did I was asleep) then from -2/8 (141.78) to back to 142.48 where MM recalcualted for the next day - I will post an updated chart to show you - just got up and wanted to update. :)
 
Friday was all about he weak Yen which we had been playing for about a week. USD/JPY had a 117.81 session high recorded early on in the European session. 117.40/45 is now the uplift support.

Euro had a figure spit at it's high at 1.2102 back into the 1.2080"s clear 80/20 channel. On options front the barriers at 1.2045 and 1.2000.

Currently short EUR 1.2084 with stop at 1.2091 looking for the 80 to give way also off 4/8 MML.

FOMC tomorrow so expect so couple of days but thin breaks.
 
Not a lot out but at 8.30 ET we have the following and what they expect;

US Personal Income (Dec) – exp. +0.4%
US Personal Spending (Dec) – exp. +0.7%
US PCE Deflator (Dec) – exp. +2.7% (YoY) and +0.2% (MoM)

Also Canada Industrial Product Price (Dec) – exp. +0.4%

Will be flat before this number - so EUR short has limited lifespan
 
Quote from billyhunt:

Not a lot out but at 8.30 ET we have the following and what they expect;

US Personal Income (Dec) – exp. +0.4%
US Personal Spending (Dec) – exp. +0.7%
US PCE Deflator (Dec) – exp. +2.7% (YoY) and +0.2% (MoM)

Also Canada Industrial Product Price (Dec) – exp. +0.4%

Will be flat before this number - so EUR short has limited lifespan
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Bring trailing stop down to 1.2077 bid rememeber news coming up
 
Quote from billyhunt:

Bring trailing stop down to 1.2077 bid rememeber news coming up
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Have just taken profit here on EUR at 1.2066 - 3 minutes to report and at bottom of 2d channel

18 pips to start the week :)
 
Euro just not quite getting to the levels we are watching - now we have some channel break set ups = top side needs to break 1.2106 - downside has to go 1.2076 offered. There are rumors that that ECB will use Thursday"s press conference to set the stage for a March hike. Held it up so far.

If break trades go off use tight stops - .12 off bid and offer and bring trail in on 1/8 Gann line quickly.
 
Quote from billyhunt:

Euro just not quite getting to the levels we are watching - now we have some channel break set ups = top side needs to break 1.2106 - downside has to go 1.2076 offered. There are rumors that that ECB will use Thursday"s press conference to set the stage for a March hike. Held it up so far.

If break trades go off use tight stops - .12 off bid and offer and bring trail in on 1/8 Gann line quickly.
More...

1.2104 trades and fails then tells me no follow through and have to just trade spits of stops with downtrend intact.


Short 1.2088 stop down to 1.2096 bid
 
I have been talking on the floor about pre FOMC trading - today is a good example nice trade oof the bat and then set ups that don't roll - in hindight you can see I have traded in the 80-00 band with what looked like a break (when I was long at .96).

You had an option of scalping for profits here which I didn't as the time was too sharp with the break potential and on the euro I like the rate to move 8 pips on the bid and offer. (it went 7)

I try not to scalp though when I enter I affectively do if it fails because i ahve very tight stops - but if you scalp as a target then you are trading very higher risk as your risk reward is so low.

A day like today the best trades may well be the ones you don't do!

As I said on Euro only trading the channel break trade setups from earlier now after deviating and finding the lack of volume.

Don't forget also it is all about oil today wiith Opec and Exxon earnings (over 10 billion for the quarter)
 
Quote from billyhunt:

1.2104 trades and fails then tells me no follow through and have to just trade spits of stops with downtrend intact.


Short 1.2088 stop down to 1.2096 bid
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Bring your stop to 1.2088 = this is very much slop now
 
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