| + 80 pips GBPJPY (MPC Minutes) Live trade taken
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stephen nefdt (2010/08/18 09:09:35 AM): GY looks like its gaining strength after much weakness im thinking a long on GY or GU at current levels 132.70 with a stop at 132.40
stephen nefdt (2010/08/18 09:12:32 AM): ok im in at 132.77 on GY long
stephen nefdt (2010/08/18 09:12:58 AM): stop at 132.35
stephen nefdt (2010/08/18 09:29:59 AM): gbp gaining strength on small time frames as usd and jpy weaken simultaneously
stephen nefdt (2010/08/18 09:39:41 AM): from historical strength graphs its clear GBP and EUR have remained weak while the JPY has remained strong. however we could see some turnaround at these levels http://clip2net.com/clip/m31553/1282117072-clip-14kb.png
stephen nefdt (2010/08/18 09:40:26 AM): the issue we have is the MPC minutes in 50 min that should move the GBP
stephen nefdt (2010/08/18 09:45:05 AM): stocks are down which is effecting the jpy strength right now, but the move im sure will come in 45 min if you are in on the gy long keep your stop , if you see a sudden spike down close
stephen nefdt (2010/08/18 09:54:09 AM): The spotlight this week will be placed on the Bank of England Minutes after consumer prices in the U.K. remained stubbornly above the government’s target of 2.0 percent. As of late, consumer prices slowed to 3.1 percent in July from 3.2 percent the month prior, and Governor Mervyn King noted that inflation will likely be above 2 percent until the end of next year; however, the medium term view is prices below 2 percent. While Andrew Sentance is likely to dissent against the majority and call for a rate hike for the third successive month, market participants will closely monitor the banks longer term assessment of consumer prices.
stephen nefdt (2010/08/18 09:56:42 AM): All in all, if traders witness that the decision to keep rates unchanged at 0.50 percent and the asset purchase program was skewed to the right more than the previous decision, the British Pound will likely rally going into the North American trade.
stephen nefdt (2010/08/18 10:09:07 AM): current view of short term strengths eur appreciating, GBP flat, JPY and usd no real movement http://clip2net.com/clip/m31553/1282118873-clip-30kb.png
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stephen nefdt (2010/08/18 10:12:57 AM): as you can see in the new dashboard you can see precisely how the strengths / weaknesses progression on multi time frames so you get a total picture across, currencies, commodities and stocks
stephen nefdt (2010/08/18 10:14:52 AM): major spike in strength on GBP
stephen nefdt (2010/08/18 10:17:25 AM): im seeing usd weaken substantially, jpy lower too
stephen nefdt (2010/08/18 10:17:57 AM): im going to bring stop up to 132.50
stephen nefdt (2010/08/18 10:19:48 AM): so my risk is only 27 pips now. ill hold into report if it takes me out hopefully i dont get slipped too badly. if you are conservative rather close entirely
stephen nefdt (2010/08/18 10:22:57 AM): be careful not to tighten ur stop too much prior to news reports as spreads widen and you could be taken out by default, keep stops to around 20 to 30 pips
stephen nefdt (2010/08/18 10:30:27 AM): (UK) BOE VOTED 8-1 TO LEAVE INTEREST RATES UNCHANGED AT 0.50%
stephen nefdt (2010/08/18 10:31:59 AM): slightly more hawkish tone
stephen nefdt (2010/08/18 10:32:20 AM): GBP spiked nicely
stephen nefdt (2010/08/18 10:32:49 AM): (UK) BOE VOTES UNANIMOUS TO MAINTAIN ASSET PURCHASE TARGET (APT) AT £200B
stephen nefdt (2010/08/18 10:33:35 AM): pickup in growth and high inflation suggest that tightening required
stephen nefdt (2010/08/18 10:34:43 AM): my take on this is we will see GBP gain throughout today
stephen nefdt (2010/08/18 10:35:18 AM): obviously if you get in you need to place wider stops im in and staying in for a while
stephen nefdt (2010/08/18 10:36:06 AM): so this was a good trade a risk of around 27 pips on GY is nothing
stephen nefdt (2010/08/18 10:36:44 AM): up over 50 pips now
stephen nefdt (2010/08/18 10:52:42 AM): here is the strength history prior to MPC minutes
stephen nefdt (2010/08/18 10:52:58 AM): http://clip2net.com/clip/m31553/1282121521-clip-22kb.png
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stephen nefdt (2010/08/18 10:57:53 AM): the better trade was actually on gbpusd as usd weakened more prior to MPC but hey you cant win them all. current picture on lower time frames 1 to 5 min http://clip2net.com/clip/m31553/1282121846-clip-29kb.png
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stephen nefdt (2010/08/18 11:07:18 AM): 4hr analysis on GY http://clip2net.com/clip/m31553/1282122387-clip-22kb.png
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stephen nefdt (2010/08/18 11:12:34 AM): as always there are many ways you can manage your trade. one way move your stop to BE on this trade so you can lose. or close 1/2 or 2/3 and let the rest run with stop at BE and move stop as it moves in your favour. conservative trade will follow that line. the choice is yours
stephen nefdt (2010/08/18 11:36:30 AM): you could look at taking profit around the 133.80 level. depending on how you are playing this. ie if you have taken 1/3 already then another 1/3 at 133.80 and last 1/3 at 134.60 |
