Forex Trader's Corner - FX, Futures, Indexes, Commodities

@Sackie Did you miss the daily usdjpy chart?

 

Totally missed it, tbh busy with some renos. But that is a beautiful trade... seriously. On the daily. that engulfing 2 bar...is such a high probability trade. Not just because its engulfing... but because of the clarity of the it.. hard to explain.. i guess cos ive seen it so many times. I want to short it now but i know ive missed the best entry so i wont.

Nice trade you caught there. Personally, i would trade it on the daily and keep a trailing SL 1 candle back. But thats just me.

I do have AUDJPY still on 2.5 lots...

 

@Piston_Broke I like gbp aud for long.

This is the daily.

 

BOJ is meeting soon in what looks like another crazy day.
Even if they raise form -0.1 to zero they could go in freefall for a few hours.

 

If they went in freefall, wouldnt that reverse price in Aud/jpy..? Becasue i want JPY to remain weak as im shorting the AUD...

You too... as your shorting the US against jpy..

 

I mean it would strenghen the jpy causing all those pairs to drop.

 

Thats what I thought. Yep. Decision at 3am.

 

BOJ meeting is during early arvo our time.
I reloaded and shorted the main ones.


I tend to stay clear of gpbaud/cad/chy they always seem very jumpy.
gpbusd also engulfing candles on 6hr and 12hr, though that's a bit too jumpy as well for me.

 

I'm also working with a main trade and having a few side bets.
Or multiple smaller entries taking profits on the way.
Trying to smoothen the equity curve and bank some profits.
So if there's surprise news and it shoot straight up as chf/jpy did, I still have some profits.
This is what I do with currencies with very small trades and squeeze my 2-3% per month.
And a 70-80% win/loss.



edit
This is a typical example where it retraced quit a bit, but I already have 3 profit trades on it.

 

usdjpy

@Piston_Broke nice mate.

 

It's like holding a snake by it's tail as it tries coming up to bite me...I have a stop at the daily bar and another short limit just before.
Small orders as usual, so no dramas.

 

Hey @Piston_Broke hope your still shorting oil

The jpy shorts turned to duds. I wasn't following, what happened with BOJ?

I jumped in long gbpaud @ 1.74900.

 

Yes still short and looks not too bad.

Looked nice, that's just the game. BOJ did not change rates and added it will keep QE.
And strangely it wasn't announced on the news services. Maybe the big $$ is short.

I like the less adventurous pairs like this

 

The other big short that has not been mentioned is bonds.
Shorted the US 30yr T bond as it retraced. Just a little one looking for 129.
I should've noticed before that the usdjpy has been reflecting higher rates and lower bonds for a while. And the US bond auctions in a few hours will give an indication and hopefully provide the next move down.


And my latest adventure is the Point & Figure chart. Not using a pip amount but ATR which may work better with volatile markets.

 

Not sure where to post this but…….

AUD 68

Any thoughts ? What do your charts say? ?

 

My tea-leaves tell me it's going to 66 or below.

 

That will impact our banks funding cost I would assume

 

I will take this as gospel

 

Definitely. Just don't hold me to it

 

My tea-leaves didn't have an answer for that.