@PippedOff: You said "The only huge movements were cable and euro, the two trash pairs. Aussie, which actually has some game behind it's name, was only moved 15 pips."
Did you look at AUD/JPY? It lost almost 100 pips on the day. I should know. I lost most off them! (ouch).
BTW, and for what it's worth, my "prediction" of January 13, 2010 21:38, for EUR/USD, which was based entirely on price-action (a bearish daily pin bar or inverted hammer), worked out reasonably well, with a partial fall the next day, and a bigger one today.
Today's bar is looking pretty bearish to me, and on that basis, next week should also be down, with perhaps a bit of a bounce first. However, we have the US holiday on Monday to distort the market.
For what it's worth this week's weekly bar is a bearish pin bar (almost) although it is not ideally placed (it should be at the end of an upswing, whereas it's on the end of a consolidation. Still I will be looking for shorting opportunities next week.
Well, well, it's been quite a week (but aren't they all).
I made a few pips shorting EUR/USD, a few more pips shorting cable. Profitable positions now closed for weekend. One small one slightly under water in Euro, and others in cable (but they have enough "air" to breathe and I can wait for them....). Will look to open up a short position in cable at market re-open if there looks to be a good bounce. Should have made more pips today really, but bad timing.
Now long in EUR/GBP from 0.8838. hm... BTW, that guy I referred to from the other forum looks to have got all of his short move and a little bit more if he wanted it (target was 0.8830). (long EUR/GBP is cheaper to hold over the weekend than short EUR/USD at least :-) ).
Got burned early this morning on AUD/JPY. Ouch, especially as it was probably avoidable. Still, we lose and learn. I'm guessing that the drop was driven by the drop in gold?
@Chloe: I'd find it hard to believe the BoE would do that now. Apart from anything else, on top of all this snow....seriously! It would NOT be good news.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(11 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(11 months ago)
إستعمال تحليل الإنترماركت والتحليل الفني الكلاسيكي لتداول الذهب و الناسداك و السندات. شاهد هنا
Using intermarket technicals analysis to trade XAUUSD Nasdaq100 and Bonds.Watch here.
Latest Hot-Chart - May 16
Dax 200 DMA Deviation
You remember we went short Dax40 in late March based on the 13% 200 DMA extension, which gave us at least a 500-pt gain.
View Hot-Chart..
Like the song says, you've got to know when to hold 'em, and know when to fold 'em....
It's all too easy to get it wrong, either way. (I certainly have).
Good luck all next week.
Did you look at AUD/JPY? It lost almost 100 pips on the day. I should know. I lost most off them!
(ouch).
Today's bar is looking pretty bearish to me, and on that basis, next week should also be down, with perhaps a bit of a bounce first. However, we have the US holiday on Monday to distort the market.
For what it's worth this week's weekly bar is a bearish pin bar (almost) although it is not ideally placed (it should be at the end of an upswing, whereas it's on the end of a consolidation. Still I will be looking for shorting opportunities next week.
This is not any kind of recommendation.
Trade safe; stops and money management always.
I made a few pips shorting EUR/USD, a few more pips shorting cable. Profitable positions now closed for weekend. One small one slightly under water in Euro, and others in cable (but they have enough "air" to breathe and I can wait for them....). Will look to open up a short position in cable at market re-open if there looks to be a good bounce. Should have made more pips today really, but bad timing.
Now long in EUR/GBP from 0.8838. hm... BTW, that guy I referred to from the other forum looks to have got all of his short move and a little bit more if he wanted it (target was 0.8830).
(long EUR/GBP is cheaper to hold over the weekend than short EUR/USD at least :-) ).
Got burned early this morning on AUD/JPY. Ouch, especially as it was probably avoidable. Still, we lose and learn. I'm guessing that the drop was driven by the drop in gold?
So did I.
Unfortunately, the market does not ask our opinion on this matter.
Fortunately, it's now only about 200 pips too high! :-)
Fear of inflation (real or imagined danger); Fed not wanting to appear too doveish. By then there will be other hikes around the world.
...see you tomorrow morning (maybe) .....glug.
ECB, maybe ....?
Who else is a candidate...?
Still, we make our own beds...