Buk

no Steve.......the stragglers from Mondays long closed out as price edged thru last weeks low zone, but we haven't triggered Cable today....... they're playing Yen thru the Tokyo open on the intraday's....on the back of the G7 whispers - see if it'll jolt a little panic on the carry positions! nice move down tho on Sterling.....might just get hoofed back to the 78.6 (c9450) level if we're lucky!!

yeah, Euro looks like it's been consolidating this support line from last week (on the hourly) at the 2950 zone........ approaching R1 where this 23.6 Fib is resting, with R2 the likely destination for near term bullish targets...... if it can continue to absorb the deals leading up thru this congested area, it could well build towards last weeks highs @ c3045......... good solid step up off early months base @ 2870, which was also last weeks low zone.....appears promising for the longs especially if it benefits from any tepid Stateside data prints........

don't know about purring like a ferrari or humming like a fiat......it's shuffling like a pensioner pushing a zimmer this morning?!? try poking those programmers with a poo stick James....either that or incentivize them with an hours free brothel romp!!

exactly.......knee-jerk reaction based on flawed risk preparation is a big killer......which unfortunately appears to be a common occurance with new entrants....... they're more concerned with accumulating easy? or greedy pips than focusing on preserving accounts & striking off a sensible risk base........

it happens all the time hokshila.....I missed an optimum compound entry on GBP/JPY earlier due to the time which it triggered....the night guy didn't take it therefore it went off without us - tough! no biggy, we'll simply wait till another signal either sets up or it fails to truck on & dies out.......... we miss entries & optimum pare outs/exits due to varying reasons, it's part & parcel....you're not going to nail all of them at choice levels...sometimes you just have to let them go! the prime focus is risk management!.....as long as our risk & protection flags are adhered to, any slight doubt & the trade doesn't get actioned....better to let it go, sit back & wait for the next prime opp....... stick to your plan & trade it accordingly!!!......never get conned into entering a trade in a hurry just coz you "feel" you've missed a bus......there are shed loads of opp's on these things every month.....let the gamblers chase the bright, shiny pips....."better to be out wishing you were in, than in wishing you were out"

I wouldn't quite go that far!.....unfortunately we don't know all the answers, & there are plenty of questions we still ask on a regular basis LOL...... we're just like everyone else out there, doing our damndest to stay out of trouble & dodge the bullets......the market slaps us like it does most folks on a regular basis....we drop trades, leg into dud moves & scratch our heads now & again........ difference being, these day's the slip ups don't cost us nearly as much financially or emotionally!! we continue to obey a few common sense rules & stay on our toes as much as possible: keep your size well in proportion to your equity, never ever average into a losing position, get the hell out as soon as your strat/signals begin to turn red & always obey your risk parameters & emergency stop protectors........... most of it is down to common sense.....sure, experience & previous (similar) occurances flag up warning signs - but that comes with repetative familiarization of your instruments ect......... I guess the main ingredient is to remain flexible to change! the markets are constantly evolving, & you have to evolve with them....that means your strategies & views require constant monitoring.......no time to stand & admire the scenary in this business.......stand still long enough & you get your ass stomped!

there's one already sleeping in the basement here.......... http://www.traderslaboratory.com/forums/f24/spot-vs-futures-798.html

try this calc.............. 9634 (x1.0035) = 9668 (R1) 9634 (X1.0050) = 9682 (R2) 9634 (X.9965) = 9600 (S1) 9634 (X.9950) = 9586 (S2) hope it helps

I don't plot them on the charts Steve....we have them up on a board above the workstations.....I don't really like too much clutter on the charts to be honest........ but on that subject: the Franc is butting the weekly R1 (1.2544) at current levels, just below the 78.6% of the 2768-1878 shunt....... Yen has been huffing & puffing underneath the weekly R1 (121.85) too this week, which hits on the 61.8% of the long range 135.0-101.55 levels...... Euro is finding support at the monthly S2 (1.2891), just above the weeks lows leading into todays shift, also a 50% fibo zone from the 2483-3360 leg..... 9613 is the weekly S1 on Cable - another axis zone into todays activity....... they're handy markers to be aware of....specially if they hit on a confluence level of interest

hokshila, what was the 17.00 est NY closing price you used to configer those 35 & 50% s&r levels from as a matter of interest........they look ok, just wanted to check the calc numbers!

I haven't traded this pair today, but I can sure see the logic of where you're coming from......... the pivots are also strategically positioned at the the resulting trigger levels into this mornings activity + the S1 is hugging this lower round number (c1.96), & the 50% Fibo nudging the weeks low area......

I've got a conversion grid for them all somewhere....I'll post up the calc basis for them when I can put me hand on it....... in the meantime, why not use a leverage/risk matrix? just pop your base currency (equity) in at the top....you can then stipulate your exact % of equity you wish to use & it'll work out your sizing & base currency costings relative to the pair or cross you're looking to trade..... Forex trading - Mataf.net

Anna-Maria (Texxas) is busy this week hokshila, so I doubt she'll be around on here till maybe the w/end........ however: those % s&r levels she utilizes are within specific range boundaries & not used on a common or consistant basis........ she tends to observe them after the Cable and/or Euro have printed a big day, outside they're normal intraday range extremes.......the theory behind them being, prices are contained within their "normal" range based criteria calculated on a rolling basis (exel spreadsheet figures) excluding 'outside days'......... she then averages out the inside periods & draws a % high-low reading using the 2 main averages......at the moment they're close to 35 & 50 high to low guides.......but they do occasionally get altered as the ranges either widen out or contract.......... the levels based on your closing price reading would be: R1 = 9715 R2 = 9730 S1 = 9648 S2 = 9633

you should do whatever you find helpful in assisting your trade observations...... if you can work with multiple information on your main technical template, then all good & well........if you require 2 or 3 monitors with your relevant info plotted across a varied timeframe template, then so be it.....or maybe multi-chart timeframes with differing info on seperate timeframes? it's not particularly the specific lines/fibs/pivots which are of prime importance.....but where on the technical map they're forming! if you get a particular level (which you find important) setting up on a confluence trigger, then I guess it amplifies that area, if that's what you're looking for? the plan then is to ensure that whatever triggers or execution modes you're utilizing work to a positive expectancy.......... that takes both time & research........it's certainly helpful if you find a combination of technical aids which suit your personality and/or your views on trade prep, execution & management? there's no right or wrong with however a trader utilizes the various price aid tools.......the important thing is that it/they work for you & return a positive bottom line expectancy.............

some pretty heavy unwinding of carry trades going on out there at the mo.....the jawboning is increasing between Eurozone & Asian finance chiefs, namely BoJ member Miyako Suda......she's the target for much of y'days short covering with her hawkish comments......same old, same old....... wouldn't be surprised to witness more sharp jolts in the Yen pairings (across the board) as the rhetoric intensifies.......... they aint best pleased with the Jap positioning on rates v/s the economy & we could be in for some stormy sea's....should lead to one or two decent opp's on those pairs tho as more traders up their short covering

totally agree, good points! they're merely area's of potential activity, which is why we prefer to action & manage positions around them in confluence with other confirming information wherever possible............

Nicole Kidman starkers.....running toward me with a magnum of Champers & the key to the penthouse suite dangling from her sexy neck!! no???

well, they work for us anyhow!......thing is (as with any form of technical plays) to try keep the "visuals" simple & also find something to confirm them with?.....practice, practice, practice & train your mind to spot a favorite technical set-up so you can spot it in an instant from 100mtrs LOL........ to give you an example....all us kids used to play a game a few yrs back where we had 5mins to leaf thru a set of charts (240m thru 30m) & spot as many potential (of our favored) set-ups as quickly as possible......the rules were: there had to be a confluence!!.....whatever the confluence of choice was.....for instance, a clear & definite swing axis/noticeable top-bottom/key round number etc....... we were only permitted to use pivots & fibs........if they hit on a confluence zone, we chose the best opp & picked that pair/instrument to research further.....we were then given a further 5mins to present a playable (potential) trade, including entry/risk/management..... we continue to adopt that exercise to this day.......it's simply repetative behaviour practice....eventually, it programmes the mind to spot similar patterns at similar levels time after time.......... it also builds "intuitive" or instinctive traits......most of the time you get to the point where you can virtually accept or reject a potential trade based on prev experience & results etc........ Anna & myself now almost exclusively stick to the 78.6/pivot confluence set-up to further investigate a potential trade set-up......... they don't all come off obviously, but they don't need to..........we know that as long as we look regularly enough & pick the cherries, we'll return the booty often enough to make a simple 5-10min scan worthwhile and that's just one particular set-up/strat play...........there are a few others we use with a similar approach which have shown a positive expectancy...... but, I aint gonna give all the secrets away LOL.......... if you practice & study hard & often enough, the grind gets a little easier 2 other opp's today torero on the crosses, which panned out according to our "quick scan" observations........just shows, it's not only the majors which attract the cherry opp's!! and the CHF/YEN cross from earlier today...........

Robert: thanks for the reply........... James: yeah, still experiencing delay thus far.......I'll keep an eye on it into the w/end, see if there's an improvement........ it's no biggy James....there are worse things than the odd time-out delay/connection drop! I just wondered if the problem was surfacing from our end that's all.........

we're currently in this pair (long) via the "carry" value torero.......I've attached one of the guy's charts highlighting his "profit value" pare out on any extension off the resistance top you refer to......... unless this pair violates (closes below) the 23.6 & hassles the upper Round Number marker Jimmy's annotated @ 237.00, he sees further strength on this one......... particularly should the BoJ continue to fluff the markets with their interest rate speil & the BoE look to tighten further into end of 1st Q........ your entry actually confirms the shunt off 78.6 of today's intraday wiggle, & you've picked a good (risk) short thereabouts.........nice confirmatiory neutral (spinning top) bar at the top (sub hourly frame) of the pullback too so, we're playing it slightly differently.........but long as you capture the value entry according to your risk outlay, then you can't really grumble huh? hope it runs on for you!!!...........

hey Hokshila........ditto torero's welcome, look forward to your contributions on the FX threads...... it's nice to get a cross section of views on the instruments.....everyone plays them slightly differently.....however, quite often a similar (important) level/zone reacts to each traders interpretation of it!! which merely adds credence to why these key technical zones comply to the expected supply-demand triggers..........if enough activity occurs around them, they'll sprint away with sufficient energy to get the trades into the black! didn't have time to haul up the accompanying charts on that last trigger, but here's the 15m & hourly frames showing the confluence zone more clearly........

James!....not sure whether it's just us experiencing this problem.....but, there appears to be a delay (anything up to 30-40 odd seconds) when flipping thru the pages on the site?? we've also experienced connection drops when attempting to load attachments on the odd posting......the drop also occurs now & then when trying to navigate between threads?!! anyone else notice this?

yeah, you'll need to re-size those snaps Steve!!......those widescreen piccies will freak out my train of vision........ plenty of opportunities across the board this morning huh?......... Yen setting up the premium trigger thus far.....nice confluence zone of interest - today's S3 pivot, 23.6% of the pullback from the highs off the 118.0 trend move + the R1 monthly pivot to boot.......... long legged spinning top printing down at this intraday S3 area on the 15min & the fast frames (1min-5min) offering decent r/r for a poke back towards main pivot zone @ 121.50.... the Franc & Euro are flapping around their respective prime pivot zones this morning & Cable is having a tug-o-war at the S1 too........Yen by far the better option so far............

I think you know by now that these zones (intraday/weekly/monthly highs-lows) require keen attention this intra-week low zone (9715-20) is an area where I'll typically drill down to the sub 15min frames seeking confirmatory triggers......... usually low(er) risk & keener r/r ratio's exist for a decent push away.....always a fiercely fought area where good each way interest lies in wait.........

well, it's had a pretty decent sprint up off the early month higher low level @ 9315.....travelled 6 cents without any real stress, so a blow-off won't do it any harm to check the Cable Bull appetite? the 38.2 rests @ 1.9685 & the 50% @ 1.9614 (which also houses the weekly S1 pivot).....those 2 camps will be eyed should they come into focus off this 1.9900 rejection...... they're generally usual water holes on large treks up & down the ladder.....& both within spitting distance of key Big Figures....bound to be each-way stops lurking thereabouts wouldn't you say?