Nice jc. Yup, another day not getting my trade to stick, but that’s ok i still got some profits out.
“The governing party has proposed a one-day postponement of the vote. Friends and family just need another 24 hours to get their money out of the country.” :59:
Two ICT tools coming together - usdx triad div - higher highs, higher lows all day us10yr, bullish for usdx - it’s supposed to be doing the same.
Where did it set off from? - AS equilibrium 82.68
ECB to the rescue 
@zerohedge: ECB says will provide liquidity to Cyprus within existing rules.
Nice 60 pip spike up!
I should have shorted from 1.2920!
Time for the Sunday night gap to be closed 
Gotta catch 'em all?
If I can I will
You do have a point though, and the fact I’m not worried about missing that short should tell you why I agree with that point 
Still, always fun to see how price reacts during crazy moves that occur “out of the blue”
Check out this fight between the bull and bears in the euro… crazy stuff!
PS: I’m short at 1.2885. I have a feeling this is going to be a stop raid (i’m gonna be the victim), hoping it’ll create a divergence in USDX and then reassess?
Update: Stopped out at 1.2905
OMG… I DID IT AGAIN… the same problem as last time I closed the wrong trade after re-going short at 1.2908.
Someone just kill me…
damn it. i knew the breakout on cable was a setup for the news… didn’t trade it though 
just 5 min before news, set a small position long with 10 pip sl. would have done the deal
Widening I.R. spread, I’m bearish on the euro still with the cyprus fiasco and all the good news coming out of the US last week.
Of course, the big market mover today will be the FOMC Release and Ben Bernanke’s speech. stay tuned!!! xDD
limit orders TopFroxx, they will catch these swings
i had a level albeit at 5020, missed entry, had i looked left there was a swing point at 5040ish that could be expected to generate buying interest. from now on i’ll place a standby limit at each top and bottom taken out in some significant manner.
btw same with fiber 2920 last night, a limit sell would have gotten the 19.00 gmt spike, good for 50 pips!
do you mean stop orders?
limits, as in buy/sell when sell level above current price, and buy levels below current price, when price has to retrace first. i think stops are the breakout kind, sell below current level, buy above current level.
No, limit orders, price moves towards (down in Ibes example) to your limit, at which point you buy (in the hope price moves up)
Whereas a stop order, you expect price to keep moving in the original direction (a breakout style continuation trade).
lol, high five Jonny!
SNAP!
Any trades this morning guys? Took a Long on the EUR/USD, when we failed to make that lower low around 1.2880 (while the USDX made a higher high). SMT divergence is an awesome concept!
ya, i know what limit and stop orders are. the confusion was just about how you would trade. i dont get the point using limit orders to prevent me from missing that move. regarding your last statement ibe. i had no damn clue where price would stop going down on cable. i would have guessed it would go down another 50 pips or so. don’t see where limit orders would help. whereas price is of no concern when putting in a position at market right before the news with tight sl
Exactly the same as me mate, although I missed where I wanted to get in as at work, but got in at 95.
Correlation concepts.
Divergence in correlated markets is a brilliant tool, the only difficulty is the correlation can break down for periods - so we would need to use a different correlation:
Below is correlation at present on a scale of +/- 100
The last line shows the breakdown in correlation of cable and fibre that has occurred in past few months.
30days 60days 90days 120days
Euro FX US10yr -62 -45 -71 -67
CHF +97 +70 +73 +73
USDX CHF -99 -89 -87 -80
CAD -94 -87 -82 -81
GBP -96 -89 -78 -79
Euro FX GBP +93 +43 +2 +20
All this info is available at Moore Research Inc for free (mrci.com)
I might take the rest of the week off from trading. I’m glad it is going well for some of you. Perhaps now you understand.
Best of luck guys, it’s been writing an MM Sell profile for a couple of days. So I would eyeball this closely to the end of this week. I admit I will probably still post, but not in the same frequency or capacity.
ok, i meant looking for an entry on news event that will likely create volatility, both direction. if it just breaks out one direction and goes than plan is no good. If it whipsaws in large range both ways, then i would think where it could go, engage b/out traders, and reverse. And those levels would be for limit orders… i think news really are no different than regular trading, except that in news it moves a lot faster. It will still retrace to some fib level, or overlap of fib with hard SR, run stops, re-enter trend.
this case, for re-entry i was looking left in the 40 area, a prior swing point there from march 8.
that’s an idea, however if you can catch the move right shortly before or after news, then by all means do it this way!