PMs have struggling for a while now. I've tightened the silver SL to 20.30. Oct 17 fast approaches...

That was interesting.Getting tempted by m1 breakout but m5 looks tricky

CHF - Getting muscular. EURCHF @1.20 SNB floor will it hold...

#Golden CHF

Been looking at order flow trading as a possible strategy to navigate through the expected volatility especially with QE Tapering on the cards in the coming months is there anyone with prior knowledge of this strategy?

Decided to place the first trades of the year today using this method and will try and update as soon as information becomes available.

Here are trades taken today:

There were reports coming through the wire of Real money and macro funds buying USDCAD & GBPCAD and a large number of HF aggressively buying USD across the board during the US session.

USDCAD (+90pips) GBPCAD (+110pips)

Talk earlier of an Asian Sovereign with a bid in EURUSD @ 1.3580

(I am waiting to be filled)

BIS actively bidding @ 0.8910 on AUDUSD

AUDUSD (+20pips)

Want to personally thank all the contributors of this thread for all the insight and trade ideas over the years and hoping to contribute my 2 cents as we revive this thread in the spirit of wazua. Have a prosperous 2014.

Buying usdjpy, usdchf and usdcad(longterm) dips. Am also in the Audusd selling camp with my stoploss currently at .9070 and first target 8600. I think Gold might be topping short-term with support 1225.35, break of which targets lower 1210 support

@urstill1 the first place to start is www.babypips.com/school have a read through that course a couple of times then open up a demo acc with one of the many brokers in the market (Personally i prefer fxcm.com as they have an easy to use platform and have good spreads) after demo trading (not less than 6 months) depending on how well you have developed a working strategy you can then go live.

@mchambuzi USD strength seems to be the dominating theme this week even ahead of the ECB meeting, FOMC Minutes & NFP. I am also looking to add the CAD weakness. Wish i had read @hisah comment on CHF as i would have entered near the SNB floor @1.2

AUD is looking heavy atm and after the rejection of 0.9 level i am also firmly in the bear camp. Waiting to see how the data releases in the next couple of days as well as how yields will react.

TRADE UPDATE:

Taken Profit on USDCAD @1.08 (+150 pips) will be looking to rejoin the uptrend once the barrier options from 1.0825-1.09 are cleared for a move to 1.1 (long term)

GBPCAD is still open (currently +280pips) closely monitoring PA to determine an exit.

AUDUSD - Looks like the reported BIS bids @0.8910 are supporting the pair thus far. The H4 PA above the ichimoku cloud is also confirming this notion however, the rejection of 0.9 confirms that the bears are still in control. I have exited at break even.

EURUSD - Order filled @ 1.358 with a tight stop @1.355

Crude oil broke an important TL on the daily charts. Waiting to see if it will sustain the break. My strategy intra-day is to sell into rallies.

@mchambuzi thanks on the info about order flow, incorporating price action into my strategy made a huge difference last year and i have stuck to it especially on D1. @urstill1 check out Nial Fuller ;-)

The big panda sold nzdusd @0.8270 also jumped into the bandwagon with an open TP for now. A lot of chatter abt ACB having offers on EURUSD @1.3640 and sovereign demand @1.3525 ahead of ECB press conference. Am sidelines on this one till then.

TRADE UPDATE:

Following th H4 doji i have exited GBPCAD for +322pips ahead of GBP official bank rate data release and ECB Press Conference. I will be looking for possible re-entries in coming sessions.

Stopped out on EURUSD for -30pips. Bears were in full control during yesterdays Europe and US session.

Sitting on oil shorts, hoping there will be no major disruptions, oil supply looks bullish. Eurusd panned out well post ECB conference ...