Hi Biker, the forexlive orderboard is IFR info. That’s who they get the info from, they don’t hide that fact and do admit it. It basically re-typed in their words.
I would imagine that the 1.2450ish level is protected and will also have defensive offers there ahead of 1.2500 barrier. So yes I would expect it to be strong there.
If that level is taken out eventually the stops above will be triggered to push price towards the DNT @ 1,2500, but there will be more protective offers in front of it.
DNT means double no touch… so you can imagine that everything will be thrown at selling the EURO if it comes near to the 1,2500!
text book pinhead formed on eur/usd 5min chart on the 1.2425 option barrier.
Taken a very small trade, with SL @ 1.2455 and will see how PA plays for my exit point.
Hello David,
I wanted to ask you something off topic. I tried to email you but that isn’t working. Is there a way I can contact you? I don’t have sufficient posts to PM you. Many thanks.
GBP/USD - Offers, option barrier and resistance @ 1.5650
PM you later
I’m surprised by the SL, it seems rather large, quite long way off from NYC so there will be less pressure pushing for 1.2450 barrier but the touch of 1.2425 will trigger the offers around there.
I would have though a ~10 pip SL would give room for the trade to breathe while giving a much better RRR especially since it’s just a scalp trade?
Everyone’s posting up all the flow for me… I can just kick back and chill 
lol.
There are a few things I have my eye on, if they start to materialize then I will point them out… been told that there is small buy stops above 1.5630 (GBP/USD) with a barrier @ 1.5650… we know barriers tend to act like magnets, so thats a possible 20 pip buy up to the barrier as the stops trip above.
To clarify that, you could ride the stops above 1.5630 [B]if tripped[/B], with the target being 1.5650 (barrier).
GBP/USD high of the day is 1.5631 stops reported above ahead of barrier @ 1.5650
USD/JPY very close to the OP barrier @ 78.50 which will attract offers below and just above the 50 level this would be the first touch of the new day, 78.60 was yest open and 78.64 was yest high, , to me that’s interesting… how about you.
GBP/USD [B]Pending BUY[/B] order placed @ 1.5635 (buy stops), Stop placed @ 1.5625, Target @ 1.5650 (barrier).
USD/JPY [B]Pending SELL[/B] order placed @ 78.55 (78.50 is barrier), Stop placed @ 78.65 (yesterdays high), Target @ 78.30
These are scalps with a short term outlook. Will hold orders until the NY cut @ 15:00BST.
Been told from a contact in Asia who has just finished that there is good sized BIDS sitting on NZD/USD @ 0.8160-70. Thats also around the NZD high from Friday’s NFP and other techs.
So incase the NZD actually makes its way down there today, I want to play those bids. There is no report of sell stops below market price, so not sure if it can test the bids, but I have my order there on the off chance that we can slap the good bids below.
[B]Pending BUY[/B] order placed @ 0.8160, Target @ 0.8185, and the stop is 0.8150. I will leave this pending order sitting until North American close tonight.
IFR EUR/GBP [B]“Bids tipped @ 0.7920-30 (0.7924 = Aug 3 high). 0.7925 option expiry today.”[/B]…
0.7923 is last weeks low, 0,7917 is yesterdays low. If this zone is reached it will offer you a scalp trade to the upside. It is technical support combined with order flow.
[B]Pending BUY [/B]order placed @ 0.7923, Stop loss @ 0.7910, Target not set… use a trailing stop. Start by moving stop to entry @ +8, then trailing it every +5 pips.
Order will be left in place until NY cut.
Great educational thread Dave! How many traders put their money where their mouth is out there? Not many, infact I can’t think of any that I came across.
update
Expiries for 10am NY cut include very large 1.0600 in AUD/USD
Also 1.0550, 1.0615 and 1.0635 and USD/JPYat 78.00 and 78.50
500mln+ EUR/USD1.2400 and lesser*1.2425.*USD/CHF at 0.9700
Cable 1.5650. EUR/GBP 0.7910, 0.7925 and 0.7970
David
As price is hoovering above 1.2400 at the moment, can you explain the what to expect
Thanks
There doesn’t seem to be much in the way of US news today, so since that level has 500 million stuck to it, I would expect the E/U to trade around that level for the day within a 30-50 pip radius until the NY cut, then we may see the battle heat up as that gets closer.
I just don’t think the EUR will travel to far away from that barrier between now and 3pm NY cut… unless some un- scheduled economic news hits… such as Spain defaulting or something along those lines!
E/U seems to be pretty well offered around 1.2450ish and well bid around 1.2350+ so 100 pip range is the most likely.
Does this help?
You know the EUR/USD Daily One Touch binary options are currently price 15.0 for 1.2350 and 20.0 for 1.2450.
Thats pretty much telling you that the [B]options market expects[/B] that range to hold until the cut.
But don’t take that as a signal…
1.2340 is actually yest low… I might look for a one touch there, see if the price is good.
GBP trade now triggered. Lets hope those stops do the job!
Hi David
Great to see the thread going with positive inputs. I do have a question regarding your placement of the pending sell at 78.55. Is it because you believe the barrier at 78.50 will be breached, but that the sell orders placed above that will then prove strong enough to force the price back down and more to the point why do you believe this to be the case? I’m still a pupil of order flow so any insight is greatly appreciated.
GBP/USD has achieved target +15 pips.