Trading strategy
Intraday momentum and/or range-breaking strategies


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Write a Squawk to gmendive
  • Trade view / 24 September 2014 at 23:15 GMT
    Day trade

    UPDATE: A Yen for 110.00

    FX Trade Strategist /
    Wednesday's USDJPY rally achieved the trade view target (almost, anyway) . Close the position at market (currently 109.16) and book a 0.48 point gain
    Read the Trade View
    mrtowers mrtowers
    Excellent trade idea, closed mine at 109.3. Thanks a lot Michael.
    Michael O'Neill Michael O'Neill
    I am glad that it worked for you
  • Squawk / 24 September 2014 at 22:35 GMT
    FX Trade Strategist /
    USDCAD Toronto Range 1.1053-1.1121 How do you spell "Bear Trap"? LOONIE!
    A lazily drifting USDCAD suddenly spiked in the early Toronto session, blasting through resistance at 1.1100 like a Tomahawk missile on an ISIS building. Reluctant, Loonie bears joined the rally with visions of 1.1270 dancing in their heads. And then "Chomp", the bear trap slammed shut.

    What had looked so promising at breakfast, was stomach turning by lunch. The drop below 1.1100 was nearly as violent as the move above it. Initial support at 1.1070 held but another attempt an failure at 1.1100 had the nouveau Canada bears bailing, bloodied and beaten.

    What was the catalyst? It could have been an large order to buy USDCAD; it could have been in sympathy with a resurgent US dollar vs EUR which finally cracked support at 1.2815. Or more than likely, a combination of both.

    The intraday technicals are bullish while trading above 1.1050 looking for a revisit of 1.1100.

    Range until Toronto Open 1.1050-1.1100
    Read the Squawk
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