Ivan's Trade Thread, part II

Quote from Reaver:

Looks like GBP/USD is taking off to the downside.

Looks like a lot of buying started hitting right around the 1.38 level. Not sure iof that was profit taking after the spike or what....but that was a nice little spike we had there.

I went short at around 1.3910 or so, and hopefully this down move is a sign of things to come. ha ha

That quick rejection makes me a little fearful of a reversal, however.




Ivan, would you mind offering insight into your short trade on AUD/USD?

Thanks.
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That reversal had a little bite on it! Ouch!

There was heavy buying/short covering right around 1.38 @~4:00pm and we proceeded to correct about 200 pips. That really sucked.

Hopefully this down trend will resume.


I started posting again on my journal:
http://elitetrader.com/vb/showthread.php?threadid=114153

Feel free to drop by and see what's going on. I'll still be posting on this thread here and there, as it's definitely one of the best threads on ET...but my journal will offer more details as to what I've got going on if you're ever bored and need something to read.
 
Do you think its too late to short the gbp vs usd given the drop yesterday? Im thinking of shorting 200 shares of fxb tommorow for a few days if the gbp bounces wednesday. Looking for 1.35...how do you determine ur stops? Ivanovich...if you don't mind me asking what nationality are you? balkan...russian? that name always makes me wonder =)
 
Quote from davidmaria1:

I had moved the stop near breakeven, taken out +2
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Took another short at 0.6540 for -25.
Re-entered short 0.6550, near s/r line, hit target at 0.6485 just above support at 0.6474 for +65

2yjpuoj.jpg
 
Do I mind offering insight on the AUD/USD trade? Sure, what do you want to know about it? Nothing more than trend following.

Do I think it's too late for the GBP/USD short? Yes. I think after a significant move like that, anyone showing up at the party today is taking a big risk. There's also not a good risk/reward level on the trade at this point given it's proximity to all time lows.

I determine my stops based on resistance/support lines - and then move out a slight amount from that.

The name Ivanovich is a screen name only :) I spent some time living in Moscow, and it comes from there.
 
Quote from Ivanovich:

There's also not a good risk/reward level on the trade at this point given it's proximity to all time lows.
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Agree, plus it's at an 8-year-cycle low apparently :eek:
 
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