I messed around with the Aussie for a bit (despite my promise to avoid the temptation) and got some more ticks from it. Now I've shorted the Euro at 1.3450 ahead of the German release in an hour. Seems to be a good choice. We'll see.
Interested to know what do you expect from the news. As we may not know the figures of the news yet, nor any positive/ negative expectations from other traders, should we only enter a position later after the release?
I expect a low number, somewhat to the forecasted consensus - 9.7. That would be the lowest in 18 months. Do I think that's going to change the trend? Nope. But I think it'll provide a nice momentary dip that I hope to capitalize on.
Well, yesterday's dip and today's following new ATH shows that the market is at least moving greatly. I am mostly contrary to the daily trend - which kind of bothers me - but I'm scalping - and therefore looking for the clearly signalled opportunities in my style of trading. I would like to get a good signal on a position entry though, to take advantage of any bigger moves. I guess chinook had a good entry for catching most of the move yesterday.
Again, sorry for posting non Euro stuff, but this is what I'm getting at 4cast, and thinking it's a good time to go long against the CAD for a little. Sorry it's a jpg, cannot cut and paste from 4cast. Use caution, however. The EUR/CAD cross is being rather wicked.
My initial short entry was good and trailed it and got chopped. Then went long and chopped too. However, I got in around 1.34 towards the US close, kept it during the Asian session and closed it at the top during the early European session. That saved the day.
Seems like there are large exotic option barriers at 1.3500 and 1.3505 at NY cut 15:00 GMT - 10:00 EST. Also strikes at 1.3300 , 1.3400 , 13450 and 1.3500 . According to Thomson. So this could get a little choppy, although I saw this same flashing again which I've seen some MMs do before they will get those big round numbers; but I have no idea really.