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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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As promised, am taking advantage of the dip in Euro last week Trades on; EUR/USD @ : 1st psn:1.4043, SL 1.4070, TP 1.4180 : 1st psn:1.4110, SL 1.4080, TP 1.4065 EUR/GBP @ Already lost some pips on EUR/CHF long, but recouped abit on GBP/CHF short “small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Hmmm... If USDCHF breaks above .8950, the EURUSD will head to 1.37 before solid buy support. If buy support fails here, the euro will tank again by 500pips!? Gold/silver futures are struggling to keep upward pressure after early month heavy selling; sellers to regain the wheel soon. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Either I'm flipped or 2011 didn't happen??? This euro drama is the same 2010 script... After the euro got battered last year, China was fronted as a Greek bond buyer. The euro crosses surged for a week. 3 weeks later, the euro was at crazy lows of 1.19. Here we are in 2011, with Portugal as the additional character in this cast of 2010. China to buy Portuguese bonds. Reaction, euro surging. An extra to note, NZD is also surging. I'll be waiting for EURUSD to rebound to 1.44 - 1.45 were I'll short it on large lot size aiming that gap of 1.25... The higher the rebound, the better. At the same time, I'll wait for the EURGBP to rebound to .88 - .89 and short it large aiming .82. This reminds me of USDCHF. If it gets back to .85 - .86 levels, I'll be long aiming a break above .8950. USDCAD also looks likely to break above parity. Buy target from .94 - .95 Happy trading... updated - http://www.wazua.co.ke/f...&m=179089#post179089$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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staying Short usdchf, audnzd Long xauusd, xagusd Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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Entered SHORT USDJPY @81.08 Open objective Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Interesting day... Credit Agricole will probably default or ask for a bailout soon. This has seen the CHF strength relentlessly with both EURCHF and USDCHF at year lows... Seems like the USDCHF inverse move is decoupling from EURUSD. There is also another bank, Dexia, watching it like a hawk. Euro bulls had better be careful... Greece opposition --> http://www.dailymotion.c...ch-on-parliament-t_news
http://www.ajc.com/busin...ers-fail-to-959235.html
It is May 2010 yet again... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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USD index daily chart. Still below falling trend line. When it breaks above this, a 3 - 6months rally will be on the cards. Long USD/JPY would have a lot of room to rally making GBPJPY or CADJPY profitable as a carry trades. I'll avoid aussie & kiwi due to china slowdown. http://stockcharts.com/d...=ID3225058&cmd=show[s224230059]&disp=P $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:USD index daily chart. Still below falling trend line. When it breaks above this, a 3 - 6months rally will be on the cards. Long USD/JPY would have a lot of room to rally making GBPJPY or CADJPY profitable as a carry trades. I'll avoid aussie & kiwi due to china slowdown. http://stockcharts.com/d...=ID3225058&cmd=show[s224230059]&disp=P Looking at the US$ Index, the daily falling trendline was broken around 14th March, Maybe u meant the weekly. “small step for man”
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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ultra thin volumes today...us and uk markets closed.no use trading unless scalping 5 -10 pips
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Interesting week this will be with all the protests in spain despite barcelona beating manutd. Yesterday's protests span from Spain, Greece, Italy & France. Things are slowly frothing... AUDCAD above 1.04 - Short order at 1.045 and 1.05. Lot size 0.2. Open objective. USDCHF back at my buy target range 0.85 - 0.86. Buy order at 0.8450, SL 0.8350. TP - TBA. Lot size 0.1 since it is risky due to 'Grease' tensions & their crappy politicians. @Ceinz - I meant weekly. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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what on the menu today...
me i am looking to sell usd/chf
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Trade update - AUDCAD short @1.0450 lot size 0.2 triggered . Now I sit tight and wait. I was hoping the short order @1.05 would also get triggered; discarding this order. Note the AUDCAD is a long term (monthly) trade. I'll only add larger lot sizes when 1.03 is broken down this week and rebounds back to 1.0350. USDCHF buy order still intact despite the risk! I expect EURUSD to fail at 1.45 - 1.46 for the next down leg to 1.3750. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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hisah wrote:Trade update - AUDCAD short @1.0450 lot size 0.2 triggered . Now I sit tight and wait. I was hoping the short order @1.05 would also get triggered; discarding this order.
Note the AUDCAD is a long term (monthly) trade. I'll only add larger lot sizes when 1.03 is broken down this week and rebounds back to 1.0350.
USDCHF buy order still intact despite the risk! I expect EURUSD to fail at 1.45 - 1.46 for the next down leg to 1.3750. WOW. woudnt buy it. failed even the 50 m.a on 1 hr chart...Or are you banking on SNB swissie national bank rumoured rate hike ??? coz that wld really rally the pair.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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QW25071985 wrote:hisah wrote:Trade update - AUDCAD short @1.0450 lot size 0.2 triggered . Now I sit tight and wait. I was hoping the short order @1.05 would also get triggered; discarding this order.
Note the AUDCAD is a long term (monthly) trade. I'll only add larger lot sizes when 1.03 is broken down this week and rebounds back to 1.0350.
USDCHF buy order still intact despite the risk! I expect EURUSD to fail at 1.45 - 1.46 for the next down leg to 1.3750. WOW. woudnt buy it. failed even the 50 m.a on 1 hr chart...Or are you banking on SNB swissie national bank rumoured rate hike ??? coz that wld really rally the pair. @QW - I do not trade short term. And when I do I say so. This is a weekly trade. CHF and Aussie are overcrowded with bulls who will be washed out soon. But for CHF, it's a bit risky since short term Greece/Portugal/Spain/Italy CDS drama is not looking pretty and investor may rest in CHF for the time being. I do not trade the news events since I look at the longer time frames. But I trade the traders pit rumours i.e. those that move the CDS markets.
On April 30th (post 931) before Euro bulls got killed, I cited this "Last week a Citigroup trader was summoned for starting some rumours about Greece money crunch and how to play its CDS while the distress plays out."
This is how I trade... Not depending on the bernanke, the Strauss, the Junckers, the G7 and any other puppet news of those that think they're in power...! Comprehende... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:
@QW - I do not trade short term. And when I do I say so. This is a weekly trade. CHF and Aussie are overcrowded with bulls who will be washed out soon. But for CHF, it's a bit risky since short term Greece/Portugal/Spain/Italy CDS drama is not looking pretty and investor may rest in CHF for the time being. I do not trade the news events since I look at the longer time frames. But I trade the traders pit rumours i.e. those that move the CDS markets.
On April 30th (post 931) before Euro bulls got killed, I cited this "Last week a Citigroup trader was summoned for starting some rumours about Greece money crunch and how to play its CDS while the distress plays out."
This is how I trade... Not depending on the bernanke, the Strauss, the Junckers, the G7 and any other puppet news of those that think they're in power...! Comprehende...
hA HA. Love this, brings to mind a quote by Jim Rogers:- “Get inside information from the president and you will probably lose half your money. If you get it from the chairman of the board, you will lose all of your money.” Happy trading.. “small step for man”
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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ultra thick volumes today...Kenyan banks holiday... Ha ha, just kidding. Long on EUR/GBP 0.8745, SL 0.8665, TP 0.8830. Will b keenly watching the UK and Euro Manufacturing PMI numbers. Missed out on an opportunity go long on the loonie yesterday. USD/CAD for instance, previous support at 0.9667 holding, a break below this will target 0.9613 (Previous lows) and later on if there are enough bears 0.9536 levels. A hisah pointed out USD/CHF 0.8500 resistance level has held, tempting me to go long on EUR/CHF and USD CHF but with all the Eurozone CDS issue, il just hold back. Jumping to the kiwi seems like the bulls are exhausted and its crosses are retreating to consolidation. Ill be looking for short opportunities. “small step for man”
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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well...today a long aud/usd..i have noticed a falling wedge on 4 hr. look here http://www.actionforex.c.../forexcom/2011060112.gif
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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Cable bulls have been shattered by bad numbers. GBP/USD 1.6400 resistance holding. A break below this will target 1.6300 initially, then 1.6175. My EUR/GBP long trade still on. “small step for man”
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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the trading style now is to buy in dips..i feel risk is back on the table..
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Trade update - Long USDCHF size 0.1 order triggered. Since this is a risky trade, I'm tightening the SL to 0.8380, TP - TBA. But long term aim is above 0.8950. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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