Weekly Thread: Oct. 19 - 24

[rezo_s]

Ok, and off we go. Very good. This was the scenario I prefered (just as posted earlier). I think we are going to see 1.17, maybe even higher. If not - may short on market price. Will see. This still may be the retest for break upside, if we do, there is no talking about short position here.
Here is the final image of that pattern

 

[rezo_s]

On the bigger picture, the h&s pattern I mentioned on Sunday still looks like a pretty good possibility to be formed.
If we look closer at levels, the left shoulder top is around the 1.1760/70 area, so I think it is a good trade to sell if we get there with stop at 1.1820. Target is still 1.1450 area.

 

[rezo_s]

sold eurousd @1.1664

 

[rezo_s]

stop at 1.1740

same tp : 1.1445

 

[rezo_s]

sold GBPUSD 1.6739

 

[rezo_s]

stop @1.6820

target 1.6495

 

[rezo_s]

stop trigered on cable trade, loss of 81 pips, or -3.24%,

MTD: -7.38%

I will consider reselling later today

 

[rezo_s]

Long USDCHF may be considered as an alternative to reentering cable.

Good Trading Everyone!

 

[rezo_s]

euro trade stopped as well;

lost 76 pips or -3.04%,

MTD: -10.42%

 

[rezo_s]

Hi all,

Nothing much going on after the recent rally and market unloading the USD. Basically we were in a consolidation stage for these last 2 days. Today its Friday and we may see little retracement and profit taking activity. Not much going on till now.
We are seeing the double top for now on euro, and this may cause the retracement to 1.1650s for the start and to 1.1550s as a more serious support area. For now I have no definite direction, so I am looking forward to the next week.

still holding (since Monday) the short eurgbp@6951