Crude short stopped out (-1R)
GOLD short closed 50% @3R 1285
New:
EURGBP long 0.8470 stop 0.8440 PT 0.8730 - TL break
Open Positions:
USDCAD long 1.0380 stop 1.0350 - 1/2
AUDUSD short 0.8785 stop 0.8810 - 1/2
GBPJPY short 133.90 stop 1.3450 - 1/2
GOLD short 1203 stop 1209
EURGBP long 0.8470 stop 0.8440 PT 0.8730
Posts
You noticed the similarity betwen last few days on USD/CAD daily chart and the six days in late Sep - early Oct '08? Same level. Same four days consolidation. Same two day upmove. Same IB/pin at EOD. It's actually extremely weird.
ReplyDeleteI hadn't noticed but I see it now. My candle is a hanging man which is bearish, time to tighten the stops on my long.
ReplyDeleteTomorrow is the Bank of Canada rate decision and 96% of analysts say hike and market has priced in a 25bps increase. I am not 100% convinced and if they disappoint it could take off like a rocket.
Great picture.
ReplyDeleteGreat commentary on the currencies. I don't trade them very often but it is interesting to read your thoughts. Thanks.
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ReplyDeleteNic,
ReplyDeleteWhat do you think JPY crosses in light of BOJ intervention rumors?
Looks like last week's massive 3 rally in JPY spooked BOJ. Though Lien thinks breach of 85 will prompt BOJ to action:
http://www.kathylien.com/site/japanese-yen/how-far-can-usdjpy-fall
I am now tempted to go long USD/JPY, but wondering if i could get a better deal by waiting for 85ish.
Hi Denise, thanks so much.
ReplyDeleteDontCrossMe, I have to say I don't like buying USDJPY here after it broke the 87 level. The 4hr looks like a bearish wedge and looking across all the XXXJPY crosses it doesn't look supportive.
I think we see 85 for sure and maybe lower. I would wait for better prices.
Hi Nicola. A friend of mine just pointed me to an interview that you did with EuoDoo that I have just listened to with great interest. I am an ex-RAF controller and now a civlian controller with a great passion for trading. I am now following your blog and hope to have the same level of success as yourself. Thanks!
ReplyDeleteHello Matey :) Very cool to have you here. It's a lot of work, there doesn't seem to be any short cut for the time you have to spend staring at charts but it's TOTALLY worth it.
ReplyDeleteMy e-mail is NicTrades AT gmail dot com
I have skype and msn messenger too.
Thanks. I'll be in touch!
ReplyDelete