Wallace Euro Trades
- Thread starter Wallace
- Start date
you probably know about the addition of the CQG datafeed to AMP Futures' lineup
a lot of people are happy about it since it opens up more markets to trade, including
mini and micro contracts, which is why the CQG only account minimum is $500
one of my concerns had always been having the broker get me out of the market if
my isp etc went down, and a broker I had been dealing with had said it couldn't be
done; now, no problem, AMP can and would close a trade if need be, and I've had
enough outages to know it'll happen again. CQG also has 3 data centers so have
built-in redundancy that I believe few other data vendors provide
my AMP account will be funded next week, ta-taa Oanda . . . except, stay tuned ;
I was about to write the price could go down to the gap line again but the price has
just popped up instead of down, mind you it could still drop
Wednesday Feb 23 session: 3:40pm
think there's a possibility that today could be a breakout/up session, and possibly a
large move
some levels: new 1.37152 , 1.37429 and old 1.37578 and 1.37753
however the price has to first go thru yesterday's 1.36978 H area, and for the time,
we're in I think no-man's land again
a lot of people are happy about it since it opens up more markets to trade, including
mini and micro contracts, which is why the CQG only account minimum is $500
one of my concerns had always been having the broker get me out of the market if
my isp etc went down, and a broker I had been dealing with had said it couldn't be
done; now, no problem, AMP can and would close a trade if need be, and I've had
enough outages to know it'll happen again. CQG also has 3 data centers so have
built-in redundancy that I believe few other data vendors provide
my AMP account will be funded next week, ta-taa Oanda . . . except, stay tuned ;
I was about to write the price could go down to the gap line again but the price has
just popped up instead of down, mind you it could still drop
Wednesday Feb 23 session: 3:40pm
think there's a possibility that today could be a breakout/up session, and possibly a
large move
some levels: new 1.37152 , 1.37429 and old 1.37578 and 1.37753
however the price has to first go thru yesterday's 1.36978 H area, and for the time,
we're in I think no-man's land again
the price didn't travel as far as I thought it might, and because of that, think we may
have a down session today, although I'm not expecting a lot of downside
Thursday Feb 24 session: 4:15pm
there aren't any levels in the space below, but I'll suggest the 1.370 area as a level
the price may settle at
have a down session today, although I'm not expecting a lot of downside
Thursday Feb 24 session: 4:15pm
there aren't any levels in the space below, but I'll suggest the 1.370 area as a level
the price may settle at
Globex mini and micro Euro FX contract specs for AMP/CQG/NT:
E-Mini Euro FX - E7 - $62,500 Contract - $6.25 per pip - Daytrade Margin $250 -
roundturn commission - $3.37
Micro Euro FX - M6E - $12,500 Contract - $1.25 per pip - Daytrade Margin $100 -
roundturn commission - $1.99
same for the other currencies
reported volume for Feb 23/11: 6E 307,530 - E7 5,967 - M6E 5,810
attached chart is the 6E and M6E about 3am PST and gives you an idea of how the
M6E contract trades; thin volume and what might result in 'slippage'; the lines are
4 pips apart. the E7 was n/a in NT, possibly because it's a limited 5 day demo
I'm experimenting with nt 10 sec v 10 tick charts and surprised how different the
price formation is from one chart to the other
I put a demo trade on then Properties the chart and was changing the chart updating
period from 0.5 to 0.1, warning message, ignore, then the chart stops updating wtfug
delete chart and create new one, still not updating ? ? ? ahaaaa, it's closing time
think I'll have to set an alarm for 1:50pm to warn me it's get-out-of-trade time
thinking there may be another correction down, then rally into the close
Friday Feb 25 session: 3:15pm
although I see the price is still rising, maybe it'll stop around 1.38156 - new level
lows could be 1.37752 and 1.37578 IF the price corrects, then the 12:00 bar +/- may
see a rally begin
next high levels are first the Feb 02 high of 1.38606 then 1.38815 then 1.38947
E-Mini Euro FX - E7 - $62,500 Contract - $6.25 per pip - Daytrade Margin $250 -
roundturn commission - $3.37
Micro Euro FX - M6E - $12,500 Contract - $1.25 per pip - Daytrade Margin $100 -
roundturn commission - $1.99
same for the other currencies
reported volume for Feb 23/11: 6E 307,530 - E7 5,967 - M6E 5,810
attached chart is the 6E and M6E about 3am PST and gives you an idea of how the
M6E contract trades; thin volume and what might result in 'slippage'; the lines are
4 pips apart. the E7 was n/a in NT, possibly because it's a limited 5 day demo
I'm experimenting with nt 10 sec v 10 tick charts and surprised how different the
price formation is from one chart to the other
I put a demo trade on then Properties the chart and was changing the chart updating
period from 0.5 to 0.1, warning message, ignore, then the chart stops updating wtfug
delete chart and create new one, still not updating ? ? ? ahaaaa, it's closing time
think I'll have to set an alarm for 1:50pm to warn me it's get-out-of-trade time
thinking there may be another correction down, then rally into the close
Friday Feb 25 session: 3:15pm
although I see the price is still rising, maybe it'll stop around 1.38156 - new level
lows could be 1.37752 and 1.37578 IF the price corrects, then the 12:00 bar +/- may
see a rally begin
next high levels are first the Feb 02 high of 1.38606 then 1.38815 then 1.38947
the price topped on Friday and has become a Sell
we can expect a down week, the ECB Thursday, and Friday's NFP release which is
also the day the US Fed 'runs out of money'
under consideration is whether the price will stay above the gap or go thru it -
who cares really if you're Short, a potential 300+ profit drop if the price goes below
the 1.34981 gap line, and completing a good looking correction
Monday Feb 28 session: Sunday: 2:45pm
I think the price should run back up to the 1.3760 area again then begin a decline
you should know all the levels now so I won't bother repeating them, it's a matter of
how the price reacts with the gap line and levels just above, then whether the price
goes thru the gap line this session or the next
we can expect a down week, the ECB Thursday, and Friday's NFP release which is
also the day the US Fed 'runs out of money'
under consideration is whether the price will stay above the gap or go thru it -
who cares really if you're Short, a potential 300+ profit drop if the price goes below
the 1.34981 gap line, and completing a good looking correction
Monday Feb 28 session: Sunday: 2:45pm
I think the price should run back up to the 1.3760 area again then begin a decline
you should know all the levels now so I won't bother repeating them, it's a matter of
how the price reacts with the gap line and levels just above, then whether the price
goes thru the gap line this session or the next
well, was the rally and new high a reversal formation, or is the formation now a
repeat of Feb 21/22 and the price will go higher still ?
I'm going for reversal formation and we'll probably know in the next couple of hours
Tuesday Mar 1 session: 4:00pm
I don't expect much more upside, and basically a repeat of yesterday's comment
that the price will go down
repeat of Feb 21/22 and the price will go higher still ?
I'm going for reversal formation and we'll probably know in the next couple of hours
Tuesday Mar 1 session: 4:00pm
I don't expect much more upside, and basically a repeat of yesterday's comment
that the price will go down
the highs of the 2 previous sessions never reached the Feb 2 high, and you have to
wonder what's going on when the price only comes back up to where it was before
until finally coming off. but, while I think the price should drop, the price may have
other ideas
Wednesday Mar 2 session: 5:00pm
currently the price at 1.37701 is between the 2 older set of levels, if the price breaks
those - 1.37578 and drops, there's the 1.370 area it may see some support, breaking
that could go to the gap line - but 'by' Friday's session
so if the price Is going to go as low as I'm stuck on, there'll be some corrective action
before it gets there
breaking up thru 1.3786 May signal a Buy again
wonder what's going on when the price only comes back up to where it was before
until finally coming off. but, while I think the price should drop, the price may have
other ideas
Wednesday Mar 2 session: 5:00pm
currently the price at 1.37701 is between the 2 older set of levels, if the price breaks
those - 1.37578 and drops, there's the 1.370 area it may see some support, breaking
that could go to the gap line - but 'by' Friday's session
so if the price Is going to go as low as I'm stuck on, there'll be some corrective action
before it gets there
breaking up thru 1.3786 May signal a Buy again
with a new high and Friday still a day/session away, there's the possibility of more
upside, although my suspiciousity is wondering if the Feb 25 - current is a reversal
formation and this next high won't be too much higher, although on the Daily Weekly
charts there's Lots of upside
Thursday Mar 3 session: 3:45pm
the price popped the 1.38815 level and above that is 1.38947 then space to levels
around 1.40+
ECB later, no change expected and Jobs
upside, although my suspiciousity is wondering if the Feb 25 - current is a reversal
formation and this next high won't be too much higher, although on the Daily Weekly
charts there's Lots of upside
Thursday Mar 3 session: 3:45pm
the price popped the 1.38815 level and above that is 1.38947 then space to levels
around 1.40+
ECB later, no change expected and Jobs
the NFP bet is how much above or below the Consensus the released number is
if the Consensus is widely off, a large price reaction is likely to take place. also the
price/traders will sit still until the release, then 'regardless' the data is right on, the
price will move after the release, a trend change
we already have the expectation the number will be large - how large at 8:30am EST
. . . . . . . . . . . . . . . . . . . . . . . . Prior . Consensus . Consensus Range
Nonfarm Payrolls - M/M change 36,000 . . 180,000 . . 120,000 to 255,000
Unemployment Rate - Level . . . . 9.0% . . . .9.1% . . . . . 8.9% to 9.3%
Friday Mar 4 session: 3:00pm
my apologies for having overlooked the 2 levels at 1.39577 and 1.39684 , I've now
updated All my charts
not going to try and second guess what the price is going to do, except my system
suggests a down day
next higher levels are 1.40339 and 1.40421
if the Consensus is widely off, a large price reaction is likely to take place. also the
price/traders will sit still until the release, then 'regardless' the data is right on, the
price will move after the release, a trend change
we already have the expectation the number will be large - how large at 8:30am EST
. . . . . . . . . . . . . . . . . . . . . . . . Prior . Consensus . Consensus Range
Nonfarm Payrolls - M/M change 36,000 . . 180,000 . . 120,000 to 255,000
Unemployment Rate - Level . . . . 9.0% . . . .9.1% . . . . . 8.9% to 9.3%
Friday Mar 4 session: 3:00pm
my apologies for having overlooked the 2 levels at 1.39577 and 1.39684 , I've now
updated All my charts
not going to try and second guess what the price is going to do, except my system
suggests a down day
next higher levels are 1.40339 and 1.40421