My view of the current market - Page 2
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Thread: My view of the current market

  1. #11
    Quote Originally Posted by ;
    Thanks buddy. I presumed it was not a good itea to talk about my views on your own soon to become professional thread and I opened this up.

    FWIW - AUD is ripe to go higher. We have a base in .8070-80 region.

    I will post charts once I get home.
    Hey Mate,
    It's fine if you wan na na post something there, as we have got two, one for discussion one for signs. We will need to upgrade the signs.

    However, in my experience, if you gather your post in 1 place, like exactly what Amyc and perform, you will improve in your trading abilities as you can return and see what went right and what went wrong with your analysis.

  2. #12
    GMAE,

    I had been away for the long weekend. Just back last night and now back to trading out of London session today (Tuesday 15th June).

    I'm not infront of my charts but I've fundamental views on eco occasions tonight.

    Cable:-Cable's inability to shut over a major 1.4760-80 zone has reaffirmed my view that bearish trend remains in place. I'm expecting a much poorer CPI numbers now that could push cable back towards 1.46-1.4560 zone. But we could, in all liklihood, visit a push greater towards 1.4820-40 zone directly before the data. I'd be selling there as opposed to buying the break.

    In the event the CPI numbers are hotter than forecast, I shall instantly my shorts, no matter what the PL is.

    Euro:- German ZEW data is expected to be released now and I am hoping it to become poorer as well.

    When the eco data comes out as per my expectations, we could visit 1.45 infront of cable and also 1.20 infront Euro within next 16-18 hours.

    Cheers

  3. #13
    G'day,

    I am seeing a great chance to short EURUSD at 1.2390.

    Reasons for taking trades are:

    1. Classic Bearish divergence
    2. Wave 5 completion

    Charts attached.

    Trade setup that I have already taken. Intent to scale rankings in with HARD STOP at 1.2475

    Entry with two lots with maximum position size is 4 lots.

    Input at 1.2385
    Stop - 1.2475
    T1 - 1.2300
    T2 - 1.2150

  4. #14
    HI Puks,
    Good to see your thread. Will definately be a frequent visitor. I hope I can learn from your skills.

    Good fortune.

  5. #15
    I'm viewing a head and shoulder formation in Cable in 4H charts. The typical rally in cable following the budget is some thing to be sold into.

    Here is my chart attached that is self describing.

    I have started to scale set up from current level (market price 1.4810) and can add one more at 1.4880 (when it's there) with tough cease at 1.4960

    Good fortune.

  6. #16
    I am getting bullish USD predied on Moving Average cross on 4H chart. This is usually a trend following pattern and when verified, is good for a good 200-300 pips. Additionally USDX seem to have formed a double bottom in medium term, IMHO.

    Lets see how this plays out.

    chart attached - self explanatory.

    Cheers

  7. #17
    I'm still holding this cable brief. It came admonishingly near hitting S/L but I am still at the trade. Its quite fruing but I will hold on to this.

    Cheers


    Quote Originally Posted by ;
    I'm seeing a head and shoulder formation in Cable in 4H charts. The typical rally in cable following the budget is some thing to be sold into.

    Here is my chart attached that is self explaining.

    I have started to scale in position from current level (market price 1.4810) and will add yet another at 1.4880 (if it's there) with tough cease at 1.4960

    Good fortune.

  8. #18
    You're EURUSD short is looking great! I will follow your progress .

    Good luck!

  9. #19
    Quote Originally Posted by ;
    I'm seeing a head and shoulder formation in Cable in 4H charts. The typical rally in cable after the budget is some thing to be marketed into.

    Here is my chart attached that is self explaining.

    I've begun to scale set up from current degree (market price 1.4810) and will add yet another at 1.4880 (if it's there) with hard stop at 1.4960

    Good luck.
    This Cable trade stopped outside.

    Total loss on the transaction. 1x - (-140) pips 1x - (-60) pips. Complete loss = 200 pips.

  10. #20
    I got stopped out in my Cable brief which cost me 200 pips.

    But I have entered a brief once more at 1.4990 with stop at the high - 1.5015. entered 2L.

    1st Goal 1.4880 and second goal is at 1.4650.

    Currently I am seeing a Head Shoulder forming on EURUSD 4H chart with neckline at 1.2250. A clean break and close below 1.2250 can see us move back towards 1.2100-1.2050.

    Charts and levels attached.

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