My view of the current market - Page 3
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Thread: My view of the current market

  1. #21
    I'm shorting Cable at 1.4990.

    Cease at 1.5025

    Goal 1.4885

  2. #22
    Target reached. 2 * 105 pips = 210 pips. So I am now nett 10 pips in profit in cable.


    Quote Originally Posted by ;
    I am shorting Cable at 1.4990.

    Stop at 1.5025

    Target 1.4885

  3. #23
    Hey Puks - how you doing? Thought I would drop by and post the SSI for you. Tomorrow should be interesting. E/U has just done 65% of AWR, Cable just 42% nevertheless A/U has been smacking arse, and it has done 165% with Loonie in 108%. Looks like more reductions to me on USDX anyway. Let us see whether E/U can power up and slap some significant retail butt.

    SSI: Retail Traders Try to Fade the Dollar Best Performance using a 29% Increase in USDJPY Shorts
    Thursday, 08 Jul 2010 17:08 GMT
    Written by John Kicklighter

    FXCM Speculative Sentiment Index (SSI) Statistics:



    Intraday Highlight:

    USDJPY - The ratio of long to short positions in the USDJPY stands in 2.98 as almost 75% of traders are long. Yesterday, the ratio was 4.37 as 81% of open positions were long. In detail, long positions are 12.1% lower than 17.9% poorer since weekly. Short positions are 28.9% greater than and 44.8% stronger because last week. Open interest is 4.4% poorer than 1.5% over its yearly average. The SSI is a contrarian indior and signs more USDJPY losses.

    SSI Details:
    EURUSD - The ratio of long to short positions in the EURUSD stands in -1.54 as almost 61 percent of traders are brief. Yesterday, the ratio was -1.49 as 60 percent of open positions were brief. In detail, long positions are 2.1% greater than and 15.8% stronger because last week. Short positions are 5.5% greater than and 8.4% stronger because last week. Open interest is 4.1percent stronger than and 15.3percent above its own monthly average. The SSI is a contrarian indior and signals more EURUSD gains.

    GBPUSD - The ratio of long to short positions at the GBPUSD stands in -1.11 as almost 53 percent of traders are brief. Yesterday, the ratio was -1.53 as 60 percent of open positions were brief. In detail, long positions are 22.7% greater than and 50.6% stronger because last week. Short positions are 10.8% lower than 11.6% poorer since weekly. Open interest is 2.5% stronger than and 5.6% over its yearly average. The SSI is a contrarian indior and signals more GBPUSD gains.

    GBPJPY - The ratio of long to short positions in the GBPJPY stands in 1.01 as almost 50 percent of traders are very long. Yesterday, the ratio was 1.11 as 53 percent of open positions were long. In detail, long positions are 5.1% lower than 5.4% poorer since weekly. Short positions are 4.2% greater than and 19.7% stronger because last week. Open interest is 0.7% poorer than yesterday and 0.7% over its yearly average. The SSI is a contrarian indior and signs more GBPJPY losses.

    USDCHF - The ratio of long to short positions in the USDCHF stands in 2.91 as almost 74% of traders are very long. Yesterday, the ratio was 2.63 as 72% of open positions were long. In detail, long positions are 2.6% greater than and 28.3% stronger because last week. Short positions are 7.3% lower than 32.0% stronger because last week. Open interest is 0.2% poorer than 26.2% over its yearly average. The SSI is a contrarian indior and signs more USDCHF losses.

    USDCAD - The ratio of long to short positions in the USDCAD stands in 1.33 as almost 57 percent of traders are very long. Yesterday, the ratio was 1.34 as 57 percent of open positions were long. In detail, long positions are 0.8% lower than 11.5% stronger because last week. Short positions are 0.3% greater than and 14.1% poorer since weekly. Open interest is 0.3% poorer than 9.0% below its yearly average. The SSI is a contrarian indior and signs more USDCAD losses.

    AUDUSD - The ratio of long to short positions in the AUDUSD stands in -1.55 as almost 61 percent of traders are brief. Yesterday, the ratio was -1.30 as 57 percent of open positions were brief. In detail, long positions are 5.4% lower than 22.6% poorer since weekly. Short positions are 12.8% greater than and 65.5% stronger because last week. Open interest is 4.9% stronger than and 0.6% over its yearly average. The SSI is a contrarian indior and signals more AUDUSD gains.

    NZDUSD - The ratio of long to short positions in the NZDUSD stands in -1.78 as almost 64% of traders are brief. Yesterday, the ratio was -1.73 as 63% of open positions were brief. In detail, long positions are 6.1% lower than 22.4% poorer since weekly. Short positions are 3.5% lower than 9.4% stronger because last week. Open interest is 4.4% poorer than 1.5% below its yearly average. The SSI is a contrarian indior and signals more NZDUSD gains.

  4. #24
    I am seeing a long opportunity in GBPJPY at 131.

    It's a daily service S1.
    100 percent retracement of the big fall on Friday
    Support has held quite firm in previous occasions.

    Fundamentally, JPY crosses are expected for a short-term corrective bounce so I am looking to buy GBPJPY in two lots.

    Parameters are under:

    Buy 2L GBPJPY at 131.00 (Limit Order)
    Cease loss for the whole - 129.50 (150 pips)
    T1 - 131.40 (Move cease to B/E if we struck T1) - 23.6 Fib retracement level.
    T2 - 133.20 (Weekly Pivot and 20 interval SMA on 4H chart 38.2% retracement level

    Chart attached.

    Good fortune.

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