Eclectic

Hi B1S2,

If it's possible, could you share with us your reasoning to double up on your currency positions at this stage? To me, price seems to be so over extended, but then again...you are the master around here.

Thanks in advance.

:)
 
Quote from Optionpro007:

Hi B1S2,

If it's possible, could you share with us your reasoning to double up on your currency positions at this stage? To me, price seems to be so over extended,
Thanks in advance.

:)
More...


Looks like it has a lot of upside potential including a bull flag on daily chart. (240 is negative)
 

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Cotton update-- Still long the Dec Contract from .6005. Current price .6680. The daily chart has just now reached the OB line on the RSI. That, of course is no reason to sell it yet. I would think that we would challenge .70 and perhaps much higher. Staying long .
 
Quote from Buy1Sell2:

Looks like it has a lot of upside potential including a bull flag on daily chart. (240 is negative)
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I see what you mean, thanks.

I believe I should have phrased my question better though. Why not wait for a pullback to add to an existing position, I was under the impression that was the correct and safest way to do so. (That is what I meant with overextended) :)
 
Quote from Optionpro007:

I see what you mean, thanks.

I believe I should have phrased my question better though. Why not wait for a pullback to add to an existing position, I was under the impression that was the correct and safest way to do so. That is what I meant with overextended. :)
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Daily chart has experienced pullback and some consolidation.
 
Currency futures are pulling back here as well. I will treat it as pullback only for now and stay long.


Added a Dec ES long at 1539.75
 
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