Another day for simple-minded trading. Buy at 7am, sell at 8am

Islander and Medici trade the European open

Only for so long. A pattern that repeated itself today: url

Islander and Medici trade the European open

GM! Yes, remember how the euro got hit and bond spreads widened to record levels before the downgrades of PGS? Some people had apparently caught wind of it. Something similar might be going on now with cable.

Islander and Medici trade the European open

I know the feeling, and if you intend to grab 10-20 pips here and there off a 1min chart one (or two) pairs is all I can handle. On the other hand, following at least two pairs gives a better feel for the rhythm of the market. My own solution to the ...

Islander and Medici trade the European open

The answer to that is...everyday! Euro-yen has a larger daily range than cable most days, so for me it's simply about following both (and Euro and Aussie) and spotting the opportunities as they emerge.

Islander and Medici trade the European open

Agreed. For short-term trading as we do it here, if only trading one pair, cable is it. But euro-yen is good for longer-term plays, so I'll keep an eye on that and occasionally post my thoughts.

Islander and Medici trade the European open

5416 is 50% of today's session and early European low of yesterday. Looks good for a return trip to 5400 or so.

Islander and Medici trade the European open

Thanks Patience doesn't come easy to me... Note also the timing with cable. Long entry in cable at exactly the same point as Euro hit 3345 was also part of the plan

Islander and Medici trade the European open

Got there in the end. Now long.

Islander and Medici trade the European open

A post 8am dip to 5390-97 for pick up of orders is a possibility.

Islander and Medici trade the European open

So far the best performer is euro-yen with a 60 range since 7am...

Islander and Medici trade the European open

In addition a Gartley-type pattern on both Euro and cable, which made it a bit of a giveaway. To say the least...

Islander and Medici trade the European open

GM all. A Euro short from the level where the selling started yesterday looked too tempting to resist. 1.3345 possible target, where I would enter long.

Islander and Medici trade the European open

At the same time, this is a breakout above last week's high, so I wouldn't be too optimistic about the short side without a break below. Should be some buying there before a break, I'd expect.

Islander and Medici trade the European open

I suppose you mean the puts on Goldman stock expiring last week? Yes, heard about those. Which brings up the topic of option trading close to expiry. For those interested, Jeff Augen has written some interesting books relating to that, for example ...

Islander and Medici trade the European open

Glad to hear Correct. I'm sure Islander and others have their own stories; here's mine: Buying vanilla options has never appealed to me. You're paying for time premium that you're not getting back. Better to construct the same position using the ...

Islander and Medici trade the European open

It's Beat The Forex Dealer, i.e. the one I recommended to you earlier.

Islander and Medici trade the European open

Euro-yen this morning — Accumulation above yesterday's low which was also this week's open - note the way levels are adhered to. Nice retracement down to that level before take-off around 6.20. And then a 7am retracement for entry if you ...

Islander and Medici trade the European open

Euro-yen brings the good things about sterling-yen, but without those downsides. Tight spread and smooth as a peach most of the time.

Islander and Medici trade the European open

That's great. You seem to have made the same observations. So let's get it going. Good ranges too. 60 pips so far this morning vs 45 for cable.

Islander and Medici trade the European open