Thread: GBP and JPY Pairs H1 2013

Originally Posted by PoundGuy

Fischer: Debt crisis can strengthen euro: "The European authorities showed that they would not let the euro's status deteriorate."

Please note the above are not my views just sharing an article i came across

The ECB appears to have been successful in putting a floor under the euro and a strong support just under 1.20. This has helped the bond market , as the corporate bond market in the EU showed some signs of life this week.The EUR/USD may be range bound for a period of weeks or months between the 1.20 and 1.25 area

Originally Posted by zion

Cw1...sure those folks at leopardtrader.com are pretty smart. I am following them with happiness for now. I dont know the future..but they also give you some awesome intraday skills that I find surprising

ok thanks Zion

like right now , I am planning to short @ 12486 and 12570 stop @ 12680 limit @ 11650 it will probably take a month to reach down there.

As posted on Friday the attached chart we are currently on the price line both that is.

Originally Posted by PoundGuy

If the market where to keep up with what it has been doing

Attachment 59456

We have to see in day,weeks or even months what the markets do

I do agree with you though that we will get range trade for a while

Originally Posted by Mary R

The ECB appears to have been successful in putting a floor under the euro and a strong support just under 1.20. This has helped the bond market , as the corporate bond market in the EU showed some signs of life this week.The EUR/USD may be range bound for a period of weeks or months between the 1.20 and 1.25 area

Originally Posted by PoundGuy

We have to see in day,weeks or even months what the markets do

I do agree with you though that we will get range trade for a while

The mid term top of eur/usd is 13500. GS and Citi got big positions @1.2 and that is their target. If S&P makes new highs then it could match with 1275 level on the S&P. On a short term..I believe we should see a good pullback @12650 area to 12340 or even 12150 but noth less. Anyway they are projections..but I trade as them come to pass

thats what Elliot wave is calling for at least 2 more weeks of range bound market in wave iV for a final push down .

Have a good week..

If I have a position open over the weekend, a short position, and I left Friday with a Stop Loss order also open that has been surpassed widely, what happens? Does my order get filled at my stop loss point?

Conversely, if I leave a long open position over the weekend and have sell orders also opened but the market opens way above those orders, do they get executed at market or at the level I set?

Why orders cannot be either altered or retired when markets are not open? I find this absolutely preposterous...

Sean or any others, but especially Sean, I'd appreciate answers to these.

Thanks.

Originally Posted by zion

Cw1...sure those folks at leopardtrader.com are pretty smart. I am following them with happiness for now. I dont know the future..but they also give you some awesome intraday skills that I find surprising

Is this site free or do you have to subscribe

Originally Posted by zion

I dont think 12487 is of any importance. Trading at this time is also has no significance. You need liquidity to see the market clearly. The levels here are 12460 and then 12650. If gapped above 12460 and maintain that level then 12650 is next. S&P needs above 115/20 for this to hold.

I remember from old days trading DJ while coming to conclusion thru charts plotted on the S&P.. S&P margin then for me was just too much to trade into and the pips count for that matter..
What charts are you using for S&P.....
Also I think Euro now knocking rt on the 2450..........
I also remember some 2-3 yrs back every time the Yen was appreciating like a mad cow; the news flash were that the China decided to free float the Yuan.. If that theory holds now as well.. Yen could be knocking 85, depending how soon and how fast the Yuan might be free floated........

2485-91 I want to jump in shorts.. this would be with a very tight stop as the break higher could go some distance to atleast around 2625-30 by tomorrow...

GL..........

There is something about the China peg thing and its timing as some have noticed the EUR would have to stregnthen against the USD if the Yuan is to do the same against the USD

China Forex Move Could Thwart US Hopes: Roubini

It still remains to be seen who wins out i think RISK has to hold big time but we should get big swings maybe near year low or even slightly lower the Yuan will need a new base to build from

Just my thoughts

Most probably filled out unless you have guaranteed stop loss on your acc which cost a little on some brokers

On the orders i am not sure but i would guess not atleast maybe until price retraces at or around the time that you trading acc starts to actively trade

Originally Posted by Pivotal12

If I have a position open over the weekend, a short position, and I left Friday with a Stop Loss order also open that has been surpassed widely, what happens? Does my order get filled at my stop loss point?

Conversely, if I leave a long open position over the weekend and have sell orders also opened but the market opens way above those orders, do they get executed at market or at the level I set?

Why orders cannot be either altered or retired when markets are not open? I find this absolutely preposterous...

Sean or any others, but especially Sean, I'd appreciate answers to these.

Thanks.

Originally Posted by Pivotal12

If I have a position open over the weekend, a short position, and I left Friday with a Stop Loss order also open that has been surpassed widely, what happens? Does my order get filled at my stop loss point?

Conversely, if I leave a long open position over the weekend and have sell orders also opened but the market opens way above those orders, do they get executed at market or at the level I set?

Why orders cannot be either altered or retired when markets are not open? I find this absolutely preposterous...

Sean or any others, but especially Sean, I'd appreciate answers to these.

Thanks.

If there is an opening gap your order could be filled at the gap price if it is higher than your stop price. This is the risk of holding over the weekend. Conversely, if you have an order in to short eur/usd at 1.25, say and the market opens at 1.26 you could be filled at 1.25 and automatically have a loss of 100 pips. I never leave open orders in over the weekend, even if I have positions. If leaves you vulnerable to being screwed

Originally Posted by Mary R

If there is an opening gap your order could be filled at the gap price if it is higher than your stop price. This is the risk of holding over the weekend. Conversely, if you have an order in to short eur/usd at 1.25, say and the market opens at 1.26 you could be filled at 1.25 and automatically have a loss of 100 pips. I never leave open orders in over the weekend, even if I have positions. If leaves you vulnerable to being screwed

I was just screwed. Big time. I left open a long position with several sell orders also open. I tried to cancel the orders but it wouldn't let me do it because the market "wasn't open". At the open, instead of fillin g the orders at market prices they got filled at the price set in the orders. I KNEW that the same wouldn't happen if the reverse was the case. It is highway robbery. Pure and simple.

A very expensive lesson and proof that I have to look elsewhere because this is a rigged, highway robbery platform. Why can an open order not be cancelled, just because the market is closed? This is outrageous, absurd and just plain a simple, like I said, HIGHWAY ROBBERY.