The markets are dead. Today Euro did a high 1.2867 and a low 1.2815 against the USD.
Anyway I was running some intraday setups after hitting my TP +115 on AUD/NZD, so I decided to go short on the EURO, I entered 1.2846, I was up till London close 1.2815 but NY intraday I was at breakeven 6 mins to NY close I am down 6 pips on the lowest volume I have seen, could be profit taking from the earlier shorts or the market maker is playing. Anyway stop is firmly in place there is only -25 pips to give away on that trade so I can kick back.
This week I will be intraday trading, the market is in congestion for now, so still waiting for the big swing move.
Well you are absolutely right!! The GBP/USD was all bullish on the London open but, twelve hours later,
it was back where it started, having gone nowhere…
Keep an eye on usdcad and nzdusd, while you wait for sterling to set up. Sterling and Euro should fit nice into a ranging strategy on 15 or 30 minute time frames. UsdCad made small steady up trends from London open to NY close. Just wait for retrace, then ride it up to previous highs or so, then down again. I traded usdcad for the London/New York overlap for almost 200 pips. Nothing big for the pair tomorrow except new home sales, the only thing with this pair is a lot a times right after a trend, pair reverses and does the same thing except in the other direction.
Don’t like contests pissing or otherwise. Just passing along information. As a matter of fact I’m more of a 35pip trader. Today usdcad was a trend traders dream
Yep, I agree…at the end of the day, It’s how much and how many you keep at the end of the day or for the month that matters to me and as long as you don’t give it all back to the market…keep what you have and start growing from there
I also bought some GBP/CHF, for the first time, because it is a quieter pair but it is very low and it has ENORMOUS room to the upside…I mean, just look at where we are (just above 1.54) on this monthly chart, how low in comparison to past price. …
Plus, with the steady nature of Swiss currency holdings, and a positive rollover for a GBP/CHF long, you just want to be in…
Right on the range as concerned with both EUR and GBP. I will be adding some more pairs to the mix as intraday does require having more trend like pairs to trade. Very difficult to work out range risk to reward. So I am yet to master the range…
Got out of my EUR/USD trade this morning at around 1.2847 so a -1 pip loss. EUR is being marked up down with failed highs and lows everywhere. Need to see direction before getting in. Best preserve equity than hold till my stop gets blown. I can always re-enter.
Hi Pipin, GBP and EUR are all at cycle bottoms so you are right on thinking long. My short side trades are all high risk because at best we are looking at small intraday gains. The logical direction for both GBP and EUR pair is upside move to correct the last downside.
I am looking for the big swing trade but the volume is so low, looking at the London session this morning and it appears, GBP’s last week move ended the world for some. Not even the futures market moved a great deal.