The View Down River
- Thread starter downrivertrader
- Start date
I usually trade form the hourly charts and use dailys for the trend. In addition, I use the 15minute charts to time my entries.
I am not using divergences for this trade. I am using Moving averages and trend lines. I feel that this is an excallent risk/reward.
In addition, there is not much damage that the fed can do to this position. Everyone expects them to raise rates. If they do not, I should make money. If they are less hawkish, I will make money. I consider this a lower risk trade going into fed day.
We shall see,
Further more the YEN is going crazy vs the dollar on speculation that the Fed might not be as hawkish in the next few days. It is quite possible that the EURO will move up too when the EURO session opens tonight.
Regards,
Seve
I am not using divergences for this trade. I am using Moving averages and trend lines. I feel that this is an excallent risk/reward.
In addition, there is not much damage that the fed can do to this position. Everyone expects them to raise rates. If they do not, I should make money. If they are less hawkish, I will make money. I consider this a lower risk trade going into fed day.
We shall see,
Further more the YEN is going crazy vs the dollar on speculation that the Fed might not be as hawkish in the next few days. It is quite possible that the EURO will move up too when the EURO session opens tonight.
Regards,
Seve
Yes, my order was entered and stop was hit. Just posted after that.
I am looking for the upper target (12200 +) and just trying to decide if to close at that level or, put in a sell stop and see if we move higher. Makes better sense to put in a stop and let the market take me out if that happens.
The upper target must be the 12321 level for now.
My longer term view has not changed. Limit of this move at the 12509 to 12653 before this correction is over.
Good luck.
I am looking for the upper target (12200 +) and just trying to decide if to close at that level or, put in a sell stop and see if we move higher. Makes better sense to put in a stop and let the market take me out if that happens.
The upper target must be the 12321 level for now.
My longer term view has not changed. Limit of this move at the 12509 to 12653 before this correction is over.
Good luck.