Few points against shorting EUR/USD

There is a more simple reason to prepare to go long EUR and GBP vs USD. Commercial Traders are extremely long these currencies and extremely short the USD in Forex Futures.

As a technical trader I only believe what I see on the charts and look for the next signal. Meanwhile there have been good opportunities for going short on day trades. Why try to predict the future when you can ride the surf board of momentum?
 
Quote from Deptrai:

Once you've done FX trading for 10 years, you won't be surprised.
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Yeah, was it Oct 87 in the Yen when the BOJ decided to "punish the speculators". How much was it in one and a half day, 15%?

:cool:
 
I have been building a long position in USDCHF from 1.2788 last Wednesday morning. Long 6 at 1.2788, 2 at 1.2799, 1 at 1.2819, 1 at 1.2840, 1 at 1.2855, 1 at 1.2900, 1 at 1.2930, 2 at 1.3047, 2 at 1.3097, and 1 at 1.3100. This comes to a total of 18 at 1.2889. Limit order has been placed to sell all 18 at 1.3220.
 
Quote from Deptrai:

I have been building a long position in USDCHF from 1.2788 last Wednesday morning. Long 6 at 1.2788, 2 at 1.2799, 1 at 1.2819, 1 at 1.2840, 1 at 1.2855, 1 at 1.2900, 1 at 1.2930, 2 at 1.3047, 2 at 1.3097, and 1 at 1.3100. This comes to a total of 18 at 1.2889. Limit order has been placed to sell all 18 at 1.3220.
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I think will go higher then that...1.35 maybe
I am still buying at dips
In 48 hours I would long more at 1.2910
GL
 
I think Eur/chf is generally Reversing from 1.5400 to 1.5350
to 1.5630 to 1.5690

Still some Minor down trend
picking next week on dips

GL all
 
Cable Might bounce from 1.6750...( for 1.80)
Trend is very south seems for the next 3 months
I think for Longer term Positions 1.65 area is OK...
But might do side trading...slow recovery to 1.80
 
Doing some weekly anaysis ...(Got Shocked many times from Longer term Cycles)

Seems That with Much Longer term...3-4 Years (Using weekly)

Euro Just Might take leap to head to 1.45 to 1.47..(Long talked about figures a year ago)

I not sure at all about this but 1.1500 area...(Carefull with that Level)...when using smaller Frequency time frams

I got the same for USD/JPY at 1.20 to want south to 0.98
I am not trying to alter any trading plans...
but I have those...so
GL to all
 
Quote from kalzayani:

I think will go higher then that...1.35 maybe
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This Wave 3 will probably take us higher than that. I am thinking 1.3970. Since I am aware that the trade numbers will be coming out this Thursday and strong resistance lies around 1.3227, I am willing to take profit on all my positions at 1.3220. Looking to make about $44,000 in a week. Soon time to make the cash register ring. Then will look to buy again after a big selloff. The trend is my friend.
 
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