Agreed, but I'd be cautious shorting cable given the corporate flow. Might be plenty of buying at the bottom of the range.

Islander and Medici trade the European open

Well done. See you later.

Islander and Medici trade the European open

Took a short in euro-yen at 126.25 for a return to 125.64. TWT. Edit...reason for the trade is that 126.25 was yesterday's morning low, and 125.64 is today's Asian high.

Islander and Medici trade the European open

Let's also add the observation that the Euro and euro-yen provided some nice opportunities while some of us were staring at the cable charts... I took a short at the retest of the highs when Euro hit its daily pivot. TWT...

Islander and Medici trade the European open

Here's my take on what the sweetheart dealers have been up to this morning. Nothing on the order books but BP who have end of month needs to buy today. The choppiness between 7 and 8 am was dealers trying to fool people into selling or covering ...

Islander and Medici trade the European open

It's BP buying as they have been all week...

Islander and Medici trade the European open

Here's some consolation in the form of wise words from seasoned dealer/trader Jamie Coleman: I hate cable…I’ve said it before and I’m sure I’ll say it again…I goes down when it should go up and it goes up when it should go down…It goes the way you ...

Islander and Medici trade the European open

And nothing on the order books it seems...and cable is as usual a lot choppier that the Euro which has provided some clean trades.

Islander and Medici trade the European open

I've had similar thoughts about both euro-yen and aussie...

Islander and Medici trade the European open

Told you so...

Islander and Medici trade the European open

Maybe, but don't you find that the HPI data are a bit of non-events? The big one for today is the GDP data at 8am EST, which might also have an impact on the morning session in that people may be cautious taking positions ahead of that.

Islander and Medici trade the European open

GM, I missed the 6am long which I would have closed where you entered.

Islander and Medici trade the European open

Thanks, but I would have preferred the break to have been yesterday morning... Congratulations on another great day. See you tomorrow.

Islander and Medici trade the European open

Hello PipAdder, good to see you here. Let me try to add my angle on this. Just like you describe I try to identfy the longer term S/R levels from monthly charts down to hourly. During the morning session these mostly serve as profit-taking and ...

Islander and Medici trade the European open

Hello, I've had a good time with my visitor but missed a great morning As for big moves during the Asian session, this morning was an example of a pattern identified in my strategy post on the first page of the thread. The charts describing ...

Islander and Medici trade the European open

That's it for me this morning. Decent pips banked, but not the full quota. Will most likely not be here tomorrow, as I have a friend visiting from out of town. BFN.

Islander and Medici trade the European open

And, yes, GBPCHF looks a good bit cleaner. Lots more dealer tricks in cable and sterling-yen. But the spread in GBPCHF is all over the place, tight one moment and wide the next, and I prefer tighter spreads...it's a cost after all.

Islander and Medici trade the European open

A choppy ranging morning for cable, and a clear trend for Euro. I prefer a clear trend.

Islander and Medici trade the European open

Very well traded. As to the Euro/cable discussion, I am wondering whether it's a good rule to focus on the cleaner chart rather than trying to figure out the other one. Cleaner chart usually means cleaner trend "...and what do we catch a trend? We ...

Islander and Medici trade the European open

Excellent anticipation.

Islander and Medici trade the European open