Eur/USD

Status
Not open for further replies.
Agreed. Has nothing to do with new traders. Part of what it is, is the Japanese end to the fiscal year. All that speculative money is flowing all over the place.

Look at silver.
 
I exited my longs near the 2150 area this morning. There was heavy action on the surge to 2150. I took a short position which I had planned to hold. I decided to close it after it went south about 25 ticks. Again, I am fearful to hold the long trades.

I am thinking that this top area may hold and I am going to look to get short up here again in the London session at some point. Ideally offer up around the 2150 area again. I think the winds of change are swirling around.


Anybody else see this?
 
DRT,

You dont think that we will head higher in the next day or 2. A short tonight might be premature unless you plan on it being a quick scalp.


Good luck
Steve
 
DRT,

Good luck with that trade. I honeslty have no idea why the EC moved so strongly today. I know there has been some news out, but this move is amazing.

Regards,
Steve
 
Same old reasons - rumors, nuclear wars, trichet, gold, moon, tides, diversification, etc.....

A variety of
reasons given for the good performance of the Euro overnight, some was old news
such as the UAE raising its Euro weighting whilst other reasons given were
politicking from the White House over John Snow/strong dollar policy which was
denied. Also mentioned were geo political concerns, when it was announced Iran
is to commenced war games in the Persian Gulf next month plus ECB's Trichet
spoke hawkishly last night, reiterating the bank's price stability focus. You
should also add to this list that Gold jumped $13 and the market was short Euro.
Whatever the reason for last nights move it does appear to be a move of
substance. Whilst the market has been content all year to play the 1.18/1.23
range the moves from one end of the range to the other appear to be happening
more quickly and perhaps the breakout is close. As a lot of traders have burnt
their fingers trying to preempt the breakout the market will remain tentative
until it is actually upon us. For today Asia should trade quietly but another
attempt at the topside later tonight beckons.
 
Code-named, The Pip Gobbler, this system is simple but effective.

190-pips gobbled in 10-opens (triangles pointing up) / 6-closes (triangles pointing down) - small-range position trades and 15-pt scalps - gaining the entire spike (no sense messing around, right?) over the last several days.

One current (long) position open @ 1.2190. Wish me luck.... ;)

Snapshot from my live trading account.

TheEx
(thanks for the blood money, shorts. :D)
1.2160

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1025143>
 

Attachments

Status
Not open for further replies.
Back
Top