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  • #2,101
  • Aug 4, 2008 9:24am Aug 4, 2008 9:24am
Short eur/usd 1.5615, stop 1.5666, TP 1.5470

Short eur/gbp 0.7924, stop 0.7945 , TP 0.7892

These are not official calls and are both smallish positions.
  • #2,102
  • Aug 4, 2008 9:25am Aug 4, 2008 9:25am
Quoting len979
just closed that cable position @ 1.9704 +43.

Like I said it was just a scalp. Looking to short eur/usd and eur/gbp
Hey Len,

Are you looking to short eur/usd in the 1.5630-1.5640 area, or further up around 1.5710?
  • #2,103
  • Aug 4, 2008 9:26am Aug 4, 2008 9:26am
Quoting pipeye
Hey Len,

Are you looking to short eur/usd in the 1.5630-1.5640 area, or further up around 1.5710?
Already went short at 1.5615
  • #2,104
  • Aug 4, 2008 9:28am Aug 4, 2008 9:28am
Can I ask a stupid question here?

What do you mean by confluence?

Cheers
Time hides Nothing
  • #2,105
  • Aug 4, 2008 9:30am Aug 4, 2008 9:30am
Quoting CindyXXXX
Can I ask a stupid question here?

What do you mean by confluence?

Cheers
A meeting together of a number of different factors i.e. daily pivot, tl, monthly pivot and fib.
  • #2,106
  • Aug 4, 2008 9:31am Aug 4, 2008 9:31am
Quoting pipeye
A meeting together of a number of different factors i.e. daily pivot, tl, monthly pivot and fib.
I C thanks
Time hides Nothing
  • #2,107
  • Aug 4, 2008 9:33am Aug 4, 2008 9:33am
Quoting len979
Already went short at 1.5615

Can I ask on what basis you went short at 5615 instead of 57? I'd like to know from a technical pov. thanks
  • #2,108
  • Aug 4, 2008 9:36am Aug 4, 2008 9:36am
Looking to go long usd/chf 1.0400 - 1.0410 area
  • #2,109
  • Aug 4, 2008 9:38am Aug 4, 2008 9:38am
Quoting seesaw
Can I ask on what basis you went short at 5615 instead of 57? I'd like to know from a technical pov. thanks
The resistance range is 5610 - 5660, so I just went short a little early, with my stop beyond the range. I might add if it goes up to 5655
  • #2,110
  • Aug 4, 2008 9:43am Aug 4, 2008 9:43am
thanks !
  • #2,111
  • Aug 4, 2008 9:46am Aug 4, 2008 9:46am
Quoting len979
The resistance range is 5610 - 5660, so I just went short a little early, with my stop beyond the range. I might add if it goes up to 5655
I shorted at 1.5628. Like that spot a lot. I feel like we've been given free money here. Hope we're right. Oil is staying low, news on the tropical storm is that it won't effect production.
I was really hoping Cable would get up to 1.9725. I got a piece at 19700, but love the 9725 spot.
  • #2,112
  • Aug 4, 2008 9:50am Aug 4, 2008 9:50am
Quoting finswin56
I shorted at 1.5628. Like that spot a lot. I feel like we've been given free money here. Hope we're right. Oil is staying low, news on the tropical storm is that it won't effect production.
I was really hoping Cable would get up to 1.9725. I got a piece at 19700, but love the 9725 spot.

Free money, lol. Gotta love that. Not too many trades where you can say that. I am watching AUD/USD like a hawk until FOMC/ RBA decisions later this week. Aussie could be set up for a nice rally.
  • #2,113
  • Aug 4, 2008 9:54am Aug 4, 2008 9:54am
Quoting seesaw
Free money, lol. Gotta love that. Not too many trades where you can say that. I am watching AUD/USD like a hawk until FOMC/ RBA decisions later this week. Aussie could be set up for a nice rally.
Could be. I'm actually looking for good levels to short it. I don't know if there's much to support AUD fundamentally right now. And as BRV said, of all the rate announcements this week, their has the biggest potential for a change (cut).
  • #2,114
  • Aug 4, 2008 10:03am Aug 4, 2008 10:03am
SHORT nzd/usd 0.7360 - 0.7380, stop 0.7426, TP 0.7270
  • #2,115
  • Aug 4, 2008 10:28am Aug 4, 2008 10:28am
this is what I'm considering for EURUSD:

Congress on holiday without vote on domestic oil production...
Hurricane Season...
The Fed's not-so-secret move on the USD (watch the video)...
General US economy vs. Eurozone... J-curve is a worry...
Attached Image
  • #2,116
  • Aug 4, 2008 10:29am Aug 4, 2008 10:29am
And the EUR tumbles like a pack of cards....
  • #2,117
  • Aug 4, 2008 10:44am Aug 4, 2008 10:44am
YIPPEEEEE !!

sold eu at 5630 .............lovely ride !
  • #2,118
  • Aug 4, 2008 10:53am Aug 4, 2008 10:53am
anyone take a short usd/cad?
  • #2,119
  • Aug 4, 2008 10:53am Aug 4, 2008 10:53am
I may be anal about this, but I'll suggest it anyway. Post # 2104 about confluence by CindyXXXX and #2115 by fxid1ot, showing the wide band of support on the graphic make me think it is a worthwhile suggestion.

There are many question in the thread about what is significant support & resistance, or "where to draw the lines." Why not draw ALL the lines to see where they cluster (a type of confluence) to show the broad areas of S&R?

This is tedious and time consuming, but a programmed indicator could make it easy. I have prepared rules for drawing the lines, but I'm not a programmer. If someone knows MQL for MetaTrader 4 and would like to take a look at them, PM me or respond to this post.
  • #2,120
  • Aug 4, 2008 11:00am Aug 4, 2008 11:00am
Hi everyone, just wanted to check in; I have to read a lot of these posts still but.....oil went bizerk today, causing an enormous spike on usd/cad....I know we had a trade out there for this 30 area but I'm not expecting it to hold.....the market gunned it down without any remorse. There is still resistance right up to 1.0378, but with this oil madness and fomc tomorrow there's little safety in taking these sells up here. Just wanted to say that. Just too much madness in the market and the spike came too fast for me to even react in getting back here and thinking about cancelling the trade.

Anyway, completely nutty and overall very hard-to-judge market today in terms of intraday price action, so I hope everyone held onto their seatbelts.
I'll follow up on trades when I get a few moments a little later on.
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