Trading Ideas 25 July

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Lots going on out there right now so let’s be having your thoughts/ideas and rants in this thread to share with the wonderful ForexLive community

Reasons welcome as always

Author: Mike Paterson

Mike Paterson has more than 30 years of experience trading FX including key market-making roles as a senior spot trader with UBS and Credit Suisse. He was also head of FX at the State Bank of Victoria in London. With sizeable daily trading volumes Mike carved out a career combining professional integrity with a cynical grasp of seizing market opportunity. Since leaving the City, Mike has been working as an independent consultant and trading for himself, along with presenting seminars and writing for a number of publications. Mike now lives in Kent but remains a passionate sponsor of Southend United FC.


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Mike Paterson


  1. Long on U/J @99.95. Confident that it will end the week above the opening of 100.40, or at the very least 100+. I am adamantly convinced that the unemployment numbers will send UJ well above 100. Heavy lots & leverage on this one.

  2. Long GBP/USD @ 1.5255- 75 for bounce to 310 at least. Reasons… the .6% GDP wasn’t exciting but its not bad. Some flushed out some weak longs. Uptrend still intact.

  3. Stalking 3 swing trades, looking to go long UsdJpy on the condition Nikkei holds key support, if not, looking to short EY. Also looking to short a EurCad mini-rally with a small long EurGbp or EurChf to reduce short Eur exposure

  4. head and shoulder on eur/usd?

    1.32 should hold 1,3240 MUST HOLD

    above 32.60 i am out

  5. buying in some AUDNZD @ 1.1420 w 1.1380 sl , looking for kiwi to sell off later today.

    one thing i am awfully curious to know, is how is CAD holding up so well with everything else buringni up espcially oil???

  6. Earn 12% on those private notes.

  7. hi euro rocket will take off next week . so book ur profit early.waiting for 1.34 when it will come. so boring week.

  8. Trying to fade nzdusd but this thing is a monster today. Bullish engulfing on daily?

  9. Just online and profit for shorting eurusd – scalping and make a nice profit. How about you guys? Ranging no trend but fine if you want to trade with a 20-25 pips TP.

  10. Indictment of SAC capital . fund redemptions by blackstones etc. $14 bln hedge fund liquidation . probably gonna cause a small 3-5% move in s&p if it all happens at the same time. add the recent profit warnings by the big caps. its a small perfect storm to trigger a little correction.

  11. Seasonals on top of that too, alex. August is a weak month.

  12. here is 4hr chart of NZD/USD –

    I know you hate trend lines but would you jump on this? I am still short, was just trying to fade this move up. Maybe I’m biased…

  13. @sunny, it’s a bit overbought but I don’t see a big turnaround in the future and that resistance isn’t great. Sometimes you’re in a bad trade and you need to think of an exit strategy. If you lose money, try to mitigate losses.


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