Could this be the start of the unwinding | Forex Factory

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Could this be the start of the unwinding

  • #1
  • First Post: Jun 26, 2007 4:25am Jun 26, 2007 4:25am
Well what do you guys think? Has it started?

I think it may have. I am just waiting for NY to open and let the skeletons out of the closet to seal the deal and sweeten the drop.

What you thoughts?
  • #2
  • Jun 26, 2007 4:33am Jun 26, 2007 4:33am
so far the daily is showing so...but the weekly support have not tanked. those who's gone short on the majors are really just trying to be aggresive...like me LOL.
  • #3
  • Jun 26, 2007 4:36am Jun 26, 2007 4:36am
I trust my American buddies, go USD!
R.Ozkan 1984 İzmir-Turkiye
  • #4
  • Jun 26, 2007 5:55am Jun 26, 2007 5:55am
I dont know if it's the beginning of the unwinding (like I said in another thread, I don't play the future foreseeing game), but those playing aggressive counter-trend reversals had a nice trade today on GBPJPY 4H time frame.

See picture below: 1-2-3 reversal formation with a trendline breakout and posterior one-bar pullback from below (green bar within yellow circle), former support now working as resistance. As we made new lows for the day (dotted blue line, double bottom there), it was a valid short entry from a Technical point of view.

I saw that setup unfolding in realtime as the euro session opened up this morning. I personally didnt take it because I never trade counter-trend.
Attached Image
  • #5
  • Jun 26, 2007 6:00am Jun 26, 2007 6:00am
BLEH, I meant to post this on the GBPJPY thread. Sorry.
  • #6
  • Jun 26, 2007 6:04am Jun 26, 2007 6:04am
Do you mean a particular pair or just dollar unwinding in general?
  • #7
  • Jun 26, 2007 6:05am Jun 26, 2007 6:05am
In general
  • #8
  • Jun 26, 2007 6:10am Jun 26, 2007 6:10am
i certainly don't see any dollar unwinding. with regards to the Dow and the indices, then yes. but what are we looking for? a 20 per cent correction would be reasonable. 40 per cent would be even better
  • #9
  • Jun 26, 2007 6:13am Jun 26, 2007 6:13am
not yet, not yet... when you see a big 400 pips down candle, you will then start to think about it...

The unwinding sentiment is building but it's not ready yet to have an impact on the market
  • #10
  • Jun 26, 2007 6:15am Jun 26, 2007 6:15am
Quoting melpheos
not yet, not yet... when you see a big 400 pips down candle, you will then start to think about it...

The unwinding sentiment is building but it's not ready yet to have an impact on the market
Yeah been going through the news since I started this and starting to change my view on the drop at the mo. Although this drop is helping some what
  • #11
  • Jun 26, 2007 6:17am Jun 26, 2007 6:17am
Quoting free4440273
i certainly don't see any dollar unwinding. with regards to the Dow and the indices, then yes. but what are we looking for? a 20 per cent correction would be reasonable. 40 per cent would be even better
One can only hope.
  • #12
  • Jun 26, 2007 6:23am Jun 26, 2007 6:23am
Yen went up on Japan Fin Min + IMF on the wires, talking about possibility of rate hike. Period. This is not a systemic financial crisis hitting the market.

Furthermore, Big Shot's B.S. ALWAYS provides nice bottoms to fish. With enough patience, you start loving when those morons go to the wires.

In the otherhand

Risk perception is being the main theme, mainly in the stock market, affecting the carry trades. Yes, there's a crisis in the hedge funds, no, no one knows if it will spillover, no no one knows if it will crash the entire financial world.

That's why speculators are in and out during those last days. No rumours? Buy carries. What ? Rumour? SELL SELL SELL!!! What rumour? Paris Hilton what?
  • #13
  • Jun 26, 2007 6:25am Jun 26, 2007 6:25am
Quoting cesarnc
Paris Hilton what?
I pray she moves too japan as a house wife.
  • #14
  • Jun 26, 2007 6:28am Jun 26, 2007 6:28am
Quoting cesarnc
What rumour? Paris Hilton what?


Isn't she getting out of jail today?????
  • #15
  • Jun 26, 2007 6:39am Jun 26, 2007 6:39am
Common guys how many times we told you if you are looking for a holy grail the search is over CARRY TRADES = HOLY GRAIL buy on dips and it seems that you have a money making machine!
  • #16
  • Jun 26, 2007 6:44am Jun 26, 2007 6:44am
Quoting Sniper
I pray she moves too japan as a house wife.
fantastic! perhaps she could invest in copper!
  • #17
  • Jun 26, 2007 6:45am Jun 26, 2007 6:45am
Quoting melpheos
not yet, not yet... when you see a big 400 pips down candle, you will then start to think about it...

The unwinding sentiment is building but it's not ready yet to have an impact on the market
...spot on
  • #18
  • Jun 26, 2007 6:47am Jun 26, 2007 6:47am
Quoting 4x_Trader
Common guys how many times we told you if you are looking for a holy grail the search is over CARRY TRADES = HOLY GRAIL buy on dips and it seems that you have a money making machine!
Buy dips

http://www1.istockphoto.com/file_thu...ilet_paper.jpg
  • #19
  • Jun 26, 2007 6:50am Jun 26, 2007 6:50am
...funny, i had the euro in mind there
  • #20
  • Jun 26, 2007 6:51am Jun 26, 2007 6:51am
Quoting cesarnc
Buy dips

http://www1.istockphoto.com/file_thu...ilet_paper.jpg
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