Chinook's EUR/USD (E/$)Mumblings

C

chinook

I didn't want to start an "official" journal mainly because I don't trade a system. Sometimes I just go with my gut feelings. Anyway, I want to keep this thread open to discussions about short-term plays in Eur/Usd.

8/18/2004 There are no major US eco #s coming out and given that Friday had a big move I expect today to be a range bound day--50-60 pips High-Low. Anyway, we'll see what the day brings. Time to go to bed now and get up in 4.5 hours. E/$ might break 1.4347 (low of the day so far) but I need to keep my energy for tomorrow.

Good nite/morning.

Chinook
 
The TIC data in the US later today could be v significant - any signs that the US are struggling to fund their deficit could lead to another $ rout.
 
Quote from chinook:

Another early morning here. Yes, my trading "system" is based on hunches, gut feelings and impulsive decisions :) Anyway, E/$ is moving in a clear downtrend channel with lower lows and lower highs on the 1-min chart.

Chinook
More...

The downtrend channel just got broken, testing 1.2350 upside.

Chinook
 
TIC data was much better than expected with an upside surprise as well as a strong upgrade to last month's data. With Euro not being able to break through a daily trendline from the highs above 1.29 that come in around 1.2380, look for a move down to 1.2270-1.2320 to buy a dip for a move back up to the trendline.
 
I personally like selling the euro against this trendline, but for a day trade and risk/reward considerations, you've got a good shot. This summer has been tough for any sustained trades, so if you can job 30 pips out of a trade, you're ahead of the game.
 
Quote from krupkinm:

I personally like selling the euro against this trendline, but for a day trade and risk/reward considerations, you've got a good shot. This summer has been tough for any sustained trades, so if you can job 30 pips out of a trade, you're ahead of the game.
More...

30 pips for an intraday trade is not bad at all. Got stopped out in my long trade.

Chinook
 
You must log in or register to reply here.
Back
Top