Eur/USD

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I am short 3 units of ECM06 at 1.2218, 1.2217, 1.2211. This is a short term play with very tight stops. I am looking for a retracement from today overbought situation. I will move stops to break even very soon. Total risk was 30 pips for the entire trade. I will cover at 1.2180 if we get there.

Regards
Steve
 
Quote from spersky:

I am short 3 units of ECM06 at 1.2218, 1.2217, 1.2211. This is a short term play with very tight stops. I am looking for a retracement from today overbought situation. I will move stops to break even very soon. Total risk was 30 pips for the entire trade. I will cover at 1.2180 if we get there.

Regards
Steve
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I think the probabililty of a retracement from this sharp spike-up is an excellent evaluation.

Good luck, Steve! :)

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Quote from Exchanges:

Is April 3rd... D-Day?

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Essentially. This is the day when Japanese flows go back into the places they all took them out of in the previous month (fiscal year end).
 
Quote from Ivanovich:

Essentially. This is the day when Japanese flows go back into the places they all took them out of in the previous month (fiscal year end).
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Then, it's... J-Day.

Would you say... it's better to buy or sell yen that day?

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Honestly, I think the Japanese will begin to look at high yield currencies again. Or those soon to becoming high yield ones.

NZD/JPY might be a very good play.
 
Quote from Ivanovich:

Honestly, I think the Japanese will begin to look at high yield currencies again. Or those soon to becoming high yield ones.
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*flicks up a chart of AUD/NZD*

'scuse me while I look at high yield currencies.

*shrug*

be back later.

*stares at the chart*

let me know when it's April 3rd.

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