Weekly Thread: Oct. 05 - 10

I just bought the cable ahead of BOE meeting

EURUSD : Market ap/ears to be still short eur$ cash positions from last friday that still need to be covered. There are some option barrier risk at 1.1850/70 and some asian bank on the offer at those level that should hamper the market for a while but that long though. The market is looking for 1.23/1.25 at the end of the year.
Model and system trading community have new buy stop entry's at 1.1880/5 looking for 1.1950+.

USDJPY: Market still nervous about BOJ intervention, but looks like that they can't support the market anymore (???)
we are better sellers now into any rally with 109.80/90 with buy orders starting from 108.75
Lots of KO option at 109/108.85 and then 108.50 that expires today. Big protection bids at 108.60

AUDUSD: As long as the huge demand level down at 0.6870/80 holds for the rest of the week, Prop and Specs happy to re-buy into any decent retrace and feel is that its only a matter of time before you go through 0.6950 for a new high.




--------------------------------------------------------------------------------
 
What level did you buy the cable at?

and as for aussie - what is your projection of the near target after 6950 and 7000 are done? I will be buying for 7155 target. And another question if I may: what is your target for long cable? is it just an intraday or longer term position?
 
Unfortunatly (?) I didnt enter the short position on cable. I had a sell signal @1.6660, and stop should have been placed @1.6740 (80 pips) with target of 1.6490 (170 pips). Not a bad ratio, but I wanted to short at 1.6680 for stop to be 60 pips. It never got back to that level to short, so I passed the trade. Maybe its for the best bcos swissy and euro are also on defencive now and those are the trades I am after for couple days now. Will be definatly entering these 2 positions, and another position - most probably short usdcad. here are charts with possible retracement areas for swissy and euro. But my entry may be independant on those levels anytime during the day.
 
targets are same as I was posting. Although on euro target may rise higher. will see once entry aproaches. here is the swissy chart
 

Attachments

Ok, euro already reached 1.1755 and is currently at that level. If we get to 1.1715/30 (which I think we will) - that is the levels to watch. If we break, it may trigger 1.1675/90. Very healthy retracement, and needed one. This is good for further continuation of the upside move. As I say, for now its considered only as a corrective move, but you never know what will it become ;)

good luck everyone!
 
Looking to sell usdchf - not sure yet when and at what price. I pass on euro, as stop there is around 1.1615 figure - big volatility recently, and target is only 1.1930, maybe 1.1970/80, so not best r:r here. I am choosing to trade swissy and maybe add long eurgbp to target 7180-7220. Will see.
 
You must log in or register to reply here.
Back
Top