short !!!
- #4,941
- Jul 24, 2007 7:12pm Jul 24, 2007 7:12pm
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #4,943
- Jul 24, 2007 7:39pm Jul 24, 2007 7:39pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Ok now I gotta ask what makes you say short for the USD/JPY?
I am thinking it is gonna bounce on it's pivot line.
Common man give me more detail ...LOL
Steve
Reason being Dow losing over 200ps. Every time there is panic on DJ there is also some unwinding in carry trades. I also have small fiber and cable shorts, but those are pure speculative bets with tight stops.
Just my 2c and I might be wrong.
I'm not sure about Tiki's setups, but I added to my shorts (yen crosses) at tokyo's open.
Reason being Dow losing over 200ps. Every time there is panic on DJ there is also some unwinding in carry trades. I also have small fiber and cable shorts, but those are pure speculative bets with tight stops.
Just my 2c and I might be wrong.
Anyway, for what it worth, I am looking a PBs on the daily for the GBP/CHF, NZ/US and the GBP/US Also looking at a 4HR PB on the US/CAD. They seem to be going against the main trend. I have taken a short on the break of the daily PB of the GBP/CHF and so far it is going in my favour, but it is just the start of the day.
Good trading everyone. Ray
- #4,947
- Jul 24, 2007 8:34pm Jul 24, 2007 8:34pm
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #4,954
- Jul 25, 2007 2:43am Jul 25, 2007 2:43am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Here is my chart for USD/JPY target 50 fib line... and beyond ???
Why do you have those terrible liars aka Stochs on your chart?
Also am watching 120.00 area closely, but there may or not be thrashing..some people like round numbers, some people want to get short at a decent price, some won't believe this is threatening the carry and so forth..
Using indices and metals to navigate like Raczekfx said.
Also true about them counter-trend pins. Even daily pins get beaten up by 4h counter pins WITH the trend currently...it's ugly.
Best not trade against the trend, ever
P.S. GBPUSD was NOT a PB on my chart (close wasn't within prior bar). USDCHF has an IB about to trigger.. ==> if USDCHF is going up, it's gonna be mighty hard for GBPCHF and EURCHF to go down, no? Unless both cable and euro get a heart attack and outdo USDCHF..
And someone forgot to give EURGBP it's vitamins, it's close to being annihilated
Trust price. Know yourself.
- #4,955
- Jul 25, 2007 2:51am Jul 25, 2007 2:51am
- Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts
- #4,957
- Jul 25, 2007 7:15am Jul 25, 2007 7:15am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
I would not trade it given broken resistance (now support) is around 4760
I might consider going long there.
Price tried to break that resistance (now support) level 3 times in the past, and this was the only reason why I didn't take that PB trade yesterday, but went long instead, right at the support. If it took 3 tries (since Jan 2007)to break it, I considered it to be a decent support level now.
p.s. I also also closed fiber and cable shorts but will be looking to reload a rifle on retracement
- #4,959
- Jul 25, 2007 7:30am Jul 25, 2007 7:30am
- | Joined Mar 2007 | Status: Zoom out | 1,425 Posts
I did as planned. Very nice bounce..
Price tried to break that resistance (now support) level 3 times in the past, and this was the only reason why I didn't take that PB trade yesterday, but went long instead, right at the support. If it took 3 tries (since Jan 2007)to break it, I considered it to be a decent support level now.
p.s. I also also closed fiber and cable shorts but will be looking to reload a rifle on retracement
Never say never.
