Hey Traders! Let's get this party started with a Lightning Round!
Just post your open positions with your stops and limits in sentence or two.
Even if you are "Flat" or "no position " or waiting for a specific price level to be triggered.
Don't worry about a chart or a detailed explanation!
Don't be Shy!
I'll start: Short CAD/JPY@ 81.62 stop 81.75 Limit 81.41
I just re-short cable again right at 1,6210 with sl 1,6305; will move sl to break even if the pair hit 1,6150; 1st target 1,6100.
Also long XAU/USD at 1635, open target.
The extreme positioning where 6 traders against 1 believed that the GBP/USD was going to trade lower is now less biased.The SSI is still indiating that we will trade higher over next few day's but if it turns postivie i.e. more traders are long than short then we will probably get a drop of 200 pips.
Looking to short 1.6140 area, initial target 1.61, SL 1.6168.... have another order to short in 1.6275 region, target 1.61, SL 1.6310 ... will tweek slightly as I go... all bets off pre NFP / end of asia.
London time or NY time? - on London chart we have 2 dojis on 8h chart - on 4h ichi chart kumo cloud (but kj/tk bearish cross,ss below price) as well as broken upper wedge boundary as a support- very interesting.
1.6211 was .382 fib off the top - this double bottom looks a little bit suspicious to me - and the SSI shift overnight is really impressive - this could be a classic upper TL overshot.
Hey Rick, that is a huge 4-hour doji candlestick. It's telling us that cable has been stuck in a very tight range for four hours. If you go back 6 more candles, you can see that this range between 1.6163 and 1.6215 has held for 28 hours! The following breakout after tomorrows NFP should be pretty big.
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Good eye, SPX500 could head down to 1385 if it could close below the 4-hour chart 200 SMA at 1394
Trader, Gregory McLeod moderates the DailyFX Forum.
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London session review and outlook May 3 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
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Good eye, SPX500 could head down to 1385 if it could close below the 4-hour chart 200 SMA at 1394
thanks Greg - good to see you back
contrary to many fake H&S patterns occurring recently this one looks really good - it is symetrical and the right shoulder has marginally broken the left shoulder bottom - lets see how it plays out.
weekly cable chart - should things fall apart tomorrow (wedge with an overshot-top in place) I suspect kumo top (1.6) will not give up easily. 1.6182 extension of the first swing low (today`s top as a correction top) is arround 1.5984. This could be a good place to hedge your shorts.
Stops are suppousedly lurking below 1.615 - 1.613 is an important supp. IMHO
I agree the number is a joke, but it moves markets. We trade currencies. Will you avoid trading Friday because the number is unreliable? Or will you trade because the market is moving regardless of the reason for it?
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Originally Posted by Gregory McLeod
Posting Permissions 
I'm going to say +110,000. 
