Pip and Run Trading Room Results: 5 Wins out of 5 Trades for +28 Pips
Pip and Run Trading Room Results: 5 Wins out of 5 Trades for +28 Pips
I got long USD/CAD as it bounced from daily R1 and snatched a quick 3 pips, but price continued higher. Terry was looking at GBP/NZD as it bounced from the central Pivot, I was up as much as 10 pips but the pair moves very fast so I only got 1.7 going long. I quickly flipped and got short and picked up 6.6 on GBP/NZD. I shorted and reshorted the Euro for 7.2 and 5.8 pips in 12 minutes. Then I hit GBP/USD short for 7.6 pips. Finally I reloaded for a short on USD/CAD and grabbed a quick 4.3 pips.
A nice way to start weekend plus another 237 pips on a mixture of longer and shorter term trades!
Trader, Gregory McLeod moderates the DailyFX Forum.
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5330 id 5410 breaks out for bear flag is taken out..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Looks like ta "Risk off Day", so look to possibly short risk currencies on bounces higher or breaks lower or look to buy dollar pairs on pullbacks or breakouts to new highs.
Have a great trading day!
Regards,
Greg McLeod
DailyFX Forum Moderator/Trader
SSI Details: EURUSD - The ratio of long to short positions in the EURUSD stands at 1.07 as nearly 52% of traders are long. Yesterday, the ratio was at -1.13 as 53% of open positions were short. In detail, long positions are 9.2% higher than yesterday and 2.6% stronger since last week. Short positions are 10.3% lower than yesterday and 14.6% stronger since last week. Open interest is 1.2% weaker than yesterday and 7.7% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
GBPUSD - The ratio of long to short positions in the GBPUSD stands at 2.19 as nearly 69% of traders are long. Yesterday, the ratio was at 1.71 as 63% of open positions were long. In detail, long positions are 10.2% higher than yesterday and 5.5% stronger since last week. Short positions are 13.7% lower than yesterday and 17.7% stronger since last week. Open interest is 1.4% stronger than yesterday and 14.2% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.67 as nearly 73% of traders are long. Yesterday, the ratio was at 2.52 as 72% of open positions were long. In detail, long positions are 0.8% higher than yesterday and 1.0% weaker since last week. Short positions are 5.1% lower than yesterday and 17.7% stronger since last week. Open interest is 0.9% weaker than yesterday and 0.2% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.
USDJPY - The ratio of long to short positions in the USDJPY stands at 5.22 as nearly 84% of traders are long. Yesterday, the ratio was at 4.09 as 80% of open positions were long. In detail, long positions are 7.2% higher than yesterday and 21.0% weaker since last week. Short positions are 16.1% lower than yesterday and 21.4% stronger since last week. Open interest is 2.6% stronger than yesterday and 13.2% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
USDCHF - The ratio of long to short positions in the USDCHF stands at -1.58 as nearly 61% of traders are short. Yesterday, the ratio was at -1.21 as 55% of open positions were short. In detail, long positions are 9.3% lower than yesterday and 3.4% stronger since last week. Short positions are 18.9% higher than yesterday and 8.1% stronger since last week. Open interest is 6.1% stronger than yesterday and 14.9% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.
USDCAD - The ratio of long to short positions in the USDCAD stands at -1.83 as nearly 65% of traders are short. Yesterday, the ratio was at -1.40 as 58% of open positions were short. In detail, long positions are 15.4% lower than yesterday and 7.2% stronger since last week. Short positions are 10.9% higher than yesterday and 5.2% weaker since last week. Open interest is 0.1% weaker than yesterday and 10.5% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.
AUDUSD - The ratio of long to short positions in the AUDUSD stands at 2.43 as nearly 71% of traders are long. Yesterday, the ratio was at 1.83 as 65% of open positions were long. In detail, long positions are 6.8% higher than yesterday and 3.8% weaker since last week. Short positions are 19.8% lower than yesterday and 19.8% stronger since last week. Open interest is 2.6% weaker than yesterday and 14.2% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.
NZDUSD - The ratio of long to short positions in the NZDUSD stands at 3.22 as nearly 76% of traders are long. Yesterday, the ratio was at 2.52 as 72% of open positions were long. In detail, long positions are 5.3% higher than yesterday and 11.7% weaker since last week. Short positions are 17.8% lower than yesterday and 9.9% weaker since last week. Open interest is 1.2% weaker than yesterday and 10.0% below its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
London session review and outlook June 10 - 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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Can anyone tell me - when I have placed a trade it is showing in the entry order section as pending. I can't remove it or do anything with it????? It has been stuck pending for the last 15 minutes which isnt good. Does anyone know why?
Totally don't get it. It has just opened it @ 15532. When I put the trade on it showed trade pending @ 15514. Is this general practice? Ive never known this to happen before.
Totally don't get it. It has just opened it @ 15532. When I put the trade on it showed trade pending @ 15514. Is this general practice? Ive never known this to happen before.
The Spain bailout has shifted and caused a gap, so this fundamental catalyst has turned cable bullish for now, its not general practise but it does happen when the markets react to a big weekend news break
Price is making higher lows, RSI >50; triangle will breakout on the up side. Important level here: 5590 / 5600 thus the buy/sell zones on my chart for breakout or bounce.
Targets should be 50 fib for longs and 5405 support for shorts
Bed time. Hope I find an entry tomorrow morning as I missed the bounce off 5400.
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Originally Posted by Breeze 
