Balls Of Steel - trading volatile pairs

Just hit my SL for +115 pips, nice little ‘scalp’ :slight_smile:

It seems that every time these pairs make a big fast move, they tend to bounce right back almost as fast. I tend to be cautious and take the profits while they are there.

GBP/NZD: Closed position for +100 pips.

GBP/AUD: Closed Position #1 at BE. Holding Position #2, currently at +100 pips.

Nice scalp indeed! I also closed out.

GBP/AUD: Position #2 closed for +105 pips.

Now all out GBP/NZD and GBP/AUD

There’s a lot of pressure on the pound, could be more to be made here, good luck

UsdJpy under prolonged pressure. Has just rebounded 70 pips, so I’m going short here

BOJ was checking around for rates earlier this morning. Usually a signal that they’re not happy with the speed/size of a drop and a signal that they might intervene shortly. There should be decent intra-day resistance for a short-term trade but I’m wary about being short this pair generally right now (which is the purpose of them checking rates of course). I was humming and hawing over going long when it was at 114.60 but missed the entry while I debated.

My SL got hit, but made a few pips all the same

Hadnt thought about this, but it makes a lot of sense

[B]JOLTS Shows Employment Finished 2015 Strong – Market[/B]

9 February 2016, 18:25

11:25 ET - The number of Americans who voluntarily quit hit a post-recession high in December, suggesting workers are confident about their employment prospects despite financial-market turmoil and a slowdown overseas. Labor’s monthly Job Openings and Labor Turnover Survey showed the number of voluntary quits rose to nearly 3.1M, the highest in 9 years, while hires got to almost 5.4M, also a post-recession best. Taken together, the figures signaled a strong finish to the year for the US labor market. ([email protected])

(END) Dow Jones Newswires

February 09, 2016 11:25 ET (16:25 GMT)

Copyright © 2016 Dow Jones & Company, Inc.

… not that its reflected in the dollar lately :slight_smile:

Every little counts! Currently long USD/JPY at 114.76 and debating what to do with it at the moment.

GBP/NZD: Short at 2.1867

I also have a short limit order at 2.1950 in case it starts going against me.

Oil could stall at the 28.00 level. possible support.

Added a bit more during the Asian session dip for an avg of 114.62 and closed out at 114.98 before LO. Was a bit of a flyer in case BOJ decided to throw it’s weight around but didn’t happen so looking for better opportunities elsewhere. Might look to short this pop in GBP/NZD after the poor UK industrial numbers depending on how the price action plays out.

I would short it since it broke that long, long term level of 116, not go long…

This is risk aversion pure and simple:

S&P500 below long-term level 1,850 has been achieved;
FTSE100 below long-term level 6,000 has been achieved;
US Crude Oil below long-term level 30.00 has been achieved.

All of these asset classes aligning to the downside cannot but
signal that the USD/JPY as a risk-sensitive pair will easily
disassociate itself from any US-Dollar-positive stories and just
plummet on risk aversion, even if the US Dollar index went up
as the Greenback became a safe-haven asset.

John Kicklighter, Chief Strategist for DailyFX.com, has been
covering this USD/JPY duplicity in outlook for many years, and
the recent Yen-crosses boost provided by the BoJ’s negative rate
announcement has already been discounted by the markets: this
is why USD/JPY is falling, and going long against what will be the
biggest deleveraging of risk-rich assets would be only affordable
to those short-term traders who are comfortable trading against
such a force (just like anyone trading US Oil to the upside, in the
face of its avalanche movement).

All good points as the trend is solidly down and if equities continue to get kicked in the teeth U/J will probably keep falling. I should add that I’m a short-term trader. I’m in and out of nearly all my trades inside 24 hours and the level looked ok for a short term bounce.

I generally don’t like trading a pair’s direction where there’s a heightened risk of a central bank intervening / stopping to intervene. So I’m wary about being short Yen right now and, although I didn’t get hurt by it, I’d never touch a CHF pair until the SNB stops it’s constant manipulation of CHF.

TP hit while I slept. Closed GBP/NZD for +100 pips.

Nice. Getting an itchy trigger finger again with price heading back up towards yesterday’s entry point?

I’m going to stay out until after Yellen talks and the NIESR GDP estimate, both coming up in less than 3 hours.

I’m in short GBP/AUD from 2.0475. Hopefully the GDP release coming up shortly won’t mess it up but I’ll be out at B/E worst case scenario.

Your timing turned out well, it could still have some good movement downward. I won’t be looking for a short unless it retraces back to at least 2.0500.