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#77 (permalink)

06-24-2009, 10:23 AM

Gregory McLeod Gregory McLeod is offline

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Join Date: Sep 2007

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Scalping EUR/JPY before FOMC

Scalped 10 pips with Market Depth -A number of Market Depth imbalance trades appeared on the yen pairs this morning. EUR/JPY showed 8.7M Bid while a whopping 17M was being offered. This clearly indicated that there was short term resistance and prices were going to fall in the short-term. I entered short at 133.88 and limited out for 10 pips. I saw the same type of imbalances on GBP/JPY and took those trades as well. Currently, there is an imbalance to the long side of EUR/JPY which I am in and I will post the results of that trade as well.

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Gregory McLeod moderates the Trend of the Day thread as well as the Short Term Strategies Using Market Depth.

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