Hi Hani
There is an error in your trade prices. The lowest the Euro got to on tues was 1.4373, so nowhere near the two prices you said you sold at ie 1.4338 and 1.4339. Did you mean to type 1.4438 and 1.4439 instead ? Needed to point it out otherwise this will cause confusion for readers.
Regards,
Lee
haniam, you're a genius ! you mentioned that eur/chf may indeed drop back to 1.6720 and in fact that's what it did !
it was the 50% retracement from 1.6633 to 1.6808...........?
what do you think of the FED rate cut ? i think no rate cut as they need to retain the rate for furthur cuts down the road when Dow Jones or other meltdown happens again ?
so shorting USD pairs will not be a good idea before the rate cut news ?
Hope you made nice pips findcount!
I think that FED will cut rate 0.25%. This will do some spikes up, but after we will have way for a nice retracement. For EU, it will probably touch 1.4500-4515 and then I will sell maybe big.
But if FED cuts .50% then it may be go for higher levels.
I think we will have a BD strike tonight, so beware!
Having no positions before the news would be the best idea, and wait after the news to see how market will decide to move.
Remember, we'll have plenty of other opportunities to go into a trade when the market calm down a little.
Safe trading,
Hani
Last and most danerous day of October 2007.
We have tonight (6:15 GMT) the so much expected interest rate annoncement. Some speculations have targeted 0.5% reduction, and this is giving bulls some more reasons to push up.
But the most probable is 0.25% reduction, and even that the waiting for the news is what is holding EU at relatively low activity, we should see much more before the news and certainly after the news.
All eyes are at the 1.45 level and all analysis I read are pointing to 'buy on the dips' targeting 1.45 and higher...
I think that BD will be in play today. And they will strike hard. They will push buyers to the max. then make a break down.
So what I will do? Well, I think you guessed: I will be selling...
My pivot point today is @1.4417, and has not been tested yet.
A first test should reject prices, but open the way to 1.3375 if broken, so I will sell the bounce back.
If you want to be on the buy side, 1.4420 can be a buy point with 1.4410 as SL and 1.4445, or whatever the new high might be before the test, can be an easy to reach target.
I will sell every new 10-15 new high targeting 7-20 pips until 17:00 GMT.
Here trading should be very cautious and better to be out of the market until 15-30 minutes after the big news.
Don’t get too much involved in your trades today, BD may be in play for a new strike.
Safe trading to all,
Hani J
Hope you made nice pips findcount!
I think that FED will cut rate 0.25%. This will do some spikes up, but after we will have way for a nice retracement. For EU, it will probably touch 1.4500-4515 and then I will sell maybe big.
But if FED cuts .50% then it may be go for higher levels.
I think we will have a BD strike tonight, so beware!
Having no positions before the news would be the best idea, and wait after the news to see how market will decide to move.
Remember, we'll have plenty of other opportunities to go into a trade when the market calm down a little.
Safe trading,
Hani
what can i say ? you're right again !
hopefully, the retracement you mentioned about will come soon like next week, maybe can grab a bit of the bone from BD.......
o wise one........what price do you think is a low risk price to buy for eur/usd ? another 50% retracement likely and safer ?
