Today's Trade: Monday 16 September

Jarratt Davis

Special Consultant to the FPA
Messages
1,495
After news came through overnight of Larry Summers removing himself from the running for the Federal Reserve chairmanship, the USD gapped lower against most of the major pairs. These moves could have been a little excessive due to the bank holiday in Japan and the thin liquidity that was present. Today we are looking for these gaps to be filled and the moves to be reversed slightly - but only as the price moves into key levels of support and resistance. Look out for selling opportunities on the EUR/USD from up at the 1.3400 and 1.3450 area during today's London session.
 
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redrag

Private, 1st Class
Messages
51
After news came through overnight of Larry Summers removing himself from the running for the Federal Reserve chairmanship, the USD gapped lower against most of the major pairs. These moves could have been a little excessive due to the bank holiday in Japan and the thin liquidity that was present. Today we are looking for these gaps to be filled and the moves to be reversed slightly - but only as the price moves into key levels of support and resistance. Look out for selling opportunities on the EUR/USD from up at the 1.3400 and 1.3450 area during today's London session.
Hi Jarratt

How on earth did you manage to get that short USDJPY trade last night? My broker was bidding 98.64 at the open and I wasn't about to take that!

Or did you get a whisper pre-close on Friday? :cool:
 
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Messages
180
After news came through overnight of Larry Summers removing himself from the running for the Federal Reserve chairmanship, the USD gapped lower against most of the major pairs. These moves could have been a little excessive due to the bank holiday in Japan and the thin liquidity that was present. Today we are looking for these gaps to be filled and the moves to be reversed slightly - but only as the price moves into key levels of support and resistance. Look out for selling opportunities on the EUR/USD from up at the 1.3400 and 1.3450 area during today's London session.

Precise. Your suggestions were correct. It occured just as speculated within the 1.3400 area.
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Hi Jarratt

How on earth did you manage to get that short USDJPY trade last night? My broker was bidding 98.64 at the open and I wasn't about to take that!

Or did you get a whisper pre-close on Friday? :cool:
Hey Redrag,

For a minute I was wondering how the hell you knew I'd shorted UJ!! .... Then I realised haha

Anyway, I actually placed a hedge on my UJ long position over the weekend ... To protect against major shocks (like 1000 pip gaps etc,...)

And it opened lower and hit a level of support that I was going to buy back into anyway ... So I closed it for a profit so that I could continue with my long position!

So no secret knowledge I'm afraid :)

J
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Good Job Jarratt

Will look for the sell opportunity on EURUSD for sure.
Hey Red Herring,

Sadly it missed the target resistance by around 15 pips before it dumped .... But it did hit the high of the day (Those are always big numbers, once you have the bias)

Something to watch out for next time anyway :)

J
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
hello Jarratt Davis's,
What about AUDUSD and Gold for today ?
Hey,

There was not really anything too obvious moving those things yesterday, so I couldn't really give a clear picture :(

The daily trades are picked based on something specific happening that is more likely to move them than anything else.

But please feel free to ask any general questions that you may have :)

J
 
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redrag

Private, 1st Class
Messages
51
Hey Redrag,

For a minute I was wondering how the hell you knew I'd shorted UJ!! .... Then I realised haha

Anyway, I actually placed a hedge on my UJ long position over the weekend ... To protect against major shocks (like 1000 pip gaps etc,...)

And it opened lower and hit a level of support that I was going to buy back into anyway ... So I closed it for a profit so that I could continue with my long position!

So no secret knowledge I'm afraid :)

J
Hi Jarratt

Of course! Well done - good move!
 
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Red Herring

Corporal
Messages
388
Hey Red Herring,

Sadly it missed the target resistance by around 15 pips before it dumped .... But it did hit the high of the day (Those are always big numbers, once you have the bias)

Something to watch out for next time anyway :)

J
I just seen the 4 hr chart and if u consider only price action, a sell set-up is there after consolidation.
 
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