Hmm, this seems to be end of year flow driven rather than a post-FOMC reaction. Long cable at 1.6246 with a 1.6284-6300 target.

Medici trades the London open

Don't know if they're all worth reading, to be honest, but thanks for taking the time. There is a point to moving averages of pivots, I think, as applied for example by Charles Drummond, and I would possibly use it to filter out bad trades if I ...

Medici trades the London open

Euro 15 December — Thanks for kind words, chart, and explanation. Here's my analysis of the Euro yesterday, but in view of the upcoming ZeW numbers and the bullish bias in cable, I focused on cable. The 1.4647 level had been the battleline for ...

Medici trades the London open

Thanks Islander, you're welcome. Good to hear from somebody with a similar approach. Yes, one needs to check the Euro, but on average it pays to focus on cable, I think. Which I suppose is why you focus on it too? Another difference between the two ...

Medici trades the London open

Morning summary — Did a couple of range trades in the 1.6240-70 range in order to collect today's paycheck, but now definitely done. On a day like today, cable is a saviour offering reasonably obvious trades even if the market is going nowhere.

Medici trades the London open

Clipped 10 pips on that. Now stuck right in the middle of the week's range. Back to bed I think.

Medici trades the London open

This might provide a bit of a boost. — Nikkei closes at a seven week high, and the Gulf states are challenging the dollar: url

Medici trades the London open

Watching paint dry — That lie-in was a good idea. Should have stuck to that. Not worth the risk entering this market.

Medici trades the London open

Thanks, guys. Glad if I can be of assistance. When it comes to learning about market behaviour, I can recommend the book Beat The Forex Dealer by Augustin Silvani. To my knowledge the only book that tells it like it is, even though he only tells ...

Medici trades the London open

Morning summary — Sell-off in euro as expected, but illiquid whippy cable with bullish bias. Most importantly, another pay check written.

Medici trades the London open

Now look to short the euro on retracements. This is obviously affecting things: url

Medici trades the London open

Not the most exciting morning. Better close at NY high.

Medici trades the London open

Rebound it seems — Long cable now at 1.6288. Target 1.6340.

Medici trades the London open

Pre-FOMC sell-off? — Let's look for pullbacks up to resistance levels around 6am and 7am.

Medici trades the London open

Morning summary — A good morning with several nice opportunities to add to short cable positions (note in particular the 1.6272 level) , but now we seem to have got into equity index correlation mode with thin liquidity and no order flow. But ...

Medici trades the London open

Relief Rally faded — Short euro at 1.4680 and cable at 1.6322 with tight stop on the anticipation that the relief rally after the Dubai government rescue will fade. 1.4680 is the 50% retracement of Friday's drop, and 1.6322 is effectively the ...

Medici trades the London open

Credit Crisis — This may give the dollar further boost tomorrow: url

Medici trades the London open

GBPJPY — She hasn't arrived yet, so here's a comment on your GBPJPY chart, Jeremy. You say that your system requires clear trending momentum unlike this week, which prompts me to make a couple of remarks. First, that all systems work in ...

Medici trades the London open

Thanks for instructive chart. Jeremy. No offense, but that's a good example of what I don't do. I thought I said weekend, but still some time before my baby arrives, so here I go. I base most trades on anticipated dealer behaviour. Today was a good ...

Medici trades the London open

Thanks for kind feedback, Shah and Jeremy. As for strategy, I close to never trade breakouts - it's pure support and resistance based on analysis of technicals and market sentiment plus a good dose of market structure, i.e. how the market is set up ...

Medici trades the London open