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  • #6,161
  • Dec 10, 2009 2:48am Dec 10, 2009 2:48am
anyone still short the GPBUSD from about 2 weeks ago?

I am, and it just turned to profit for me in the last few days,

I guess thats what you get for not closing out a trade because "its been too long".

Lets hope I can keep it, that would be the next boundary.
Ask me again when I know what I'm talking about.
  • #6,162
  • Dec 10, 2009 3:01am Dec 10, 2009 3:01am
Quoting Danku
Anyone riding this pair long.....i have 142 Support that was broken twice (first two yellow arrows) and then retested and it held. We also are playing are 50% & 61.8%Fibs...so forming a 2-day PB...so i might hold my long trade but Interest Rate scares the hell out of me...........
actually i shorted at 144 and i close it b cos i find i am trading into support area 142.
However it seem the upside will be hitting a big resistence @144. i do use moving average as a general guide both MA pointing down with price below.you have spot a good entry at 142.
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  • #6,163
  • Edited 3:30am Dec 10, 2009 3:18am | Edited 3:30am
Quoting Loooit
anyone still short the GPBUSD from about 2 weeks ago?

I am, and it just turned to profit for me in the last few days,

I guess thats what you get for not closing out a trade because "its been too long".

Lets hope I can keep it, that would be the next boundary.
From what you have just said, I'm assuming you took that GBP/USD short trade after you saw a BEOB (which in my opinion is not a +A BEOB) on the weekly. If this is true and correct, under current circumstances you should not just be getting into profit but rather should have been in profit before now & moved SL to BE knowing fully well Interest Rate decision is upcoming. I would advise that anytime you choose to enter a trade based on a BEOB, wait for a pull back to the open of the bar before the OB before entering rather than waiting for a break below the OB (or a sell limit at that area). For me, this is my style which has worked very well. I like it because if not only places me in properly but it most importantly gives me a smaller stop loss. As for the pins, I definitely trade them upon a break (sell stops and buy stops).

Also if this was not the reason you entered the short trade then accept my apology.

P.S: Nice work on your ability to wait till now.
  • #6,164
  • Dec 10, 2009 3:31am Dec 10, 2009 3:31am
Thanks heaveyrain, just closed my long at 144.22 because of that 144 Reistance Area/Zone & Rate Announcement..................let me wait and see how the Area/Zone & Announcement comes.....hope they give us direction

Quoting heaveyrain
actually i shorted at 144 and i close it b cos i find i am trading into support area 142.
However it seem the upside will be hitting a big resistence @144. i do use moving average as a general guide both MA pointing down with price below.you have spot a good entry at 142.
  • #6,165
  • Dec 10, 2009 6:08am Dec 10, 2009 6:08am
Looks like today is "back to business" as usual on the stock market fronts. Dubai, Spain, and Greece are possible major issues with defaults on debt. Each one of these markets in and of themselves would not be an issue, but one has to believe that where there is smoke, there is fire. Is this the first "heads up" in the possible double dip recession?

I do not know. But there is one thing I do understand: These things tend to feed upon themselves. We are at a 50% retrace on the S&P 500, which has still held in it's stubbornly way. It is also December, which is notoriously light in volume, so a lot of things can happen.

My advice is this: Keep an eye on this whole "sovereign debt" story. If it gets bigger, it could get ugly.

Chris
  • #6,166
  • Dec 10, 2009 6:20am Dec 10, 2009 6:20am
Quoting clockwork71
Looks like today is "back to business" as usual on the stock market fronts. Dubai, Spain, and Greece are possible major issues with defaults on debt. Each one of these markets in and of themselves would not be an issue, but one has to believe that where there is smoke, there is fire. Is this the first "heads up" in the possible double dip recession?

I do not know. But there is one thing I do understand: These things tend to feed upon themselves. We are at a 50% retrace on the S&P 500, which has still held in it's stubbornly way. It is also...
hi chris

if possible, would you be able to elaborate the co-relationship btw S&P500 and Currency or gold. what are the pairs that will be affected by the movement of S&P.thks
  • #6,167
  • Dec 10, 2009 7:07am Dec 10, 2009 7:07am
Quoting heaveyrain
hi chris

if possible, would you be able to elaborate the co-relationship btw S&P500 and Currency or gold. what are the pairs that will be affected by the movement of S&P.thks

It isn't a matter of relation per se, but a comment on the fact that people are "buying", so it shows that the AUD/USD might go up, the EUR/USD might go up - but I believe it will be a false positive.

I believe the USD is about to get stronger. There will be a flight from risk soon......

Maybe. We can only wait for a signal.
  • #6,168
  • Dec 10, 2009 10:40am Dec 10, 2009 10:40am
Hey clock so do you think the US is ahead of the game at the moment in recovery? The UK is taxing their bailed out banks where the US is not is this the US laying down on representing the citizens, or is it a sign that we are making ground on the "crisis"? I know this is an opinion type question.
  • #6,169
  • Dec 10, 2009 10:53am Dec 10, 2009 10:53am
Corn trade exited while at Chuck E. Cheese's today. Some reports came out, I assume they were bullish?
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  • #6,170
  • Dec 10, 2009 10:53am Dec 10, 2009 10:53am
Quoting kodflakes
Hey clock so do you think the US is ahead of the game at the moment in recovery? The UK is taxing their bailed out banks where the US is not is this the US laying down on representing the citizens, or is it a sign that we are making ground on the "crisis"? I know this is an opinion type question.
Probably a little of both. But....I would say relative to Britain, we are doing better.
  • #6,171
  • Dec 10, 2009 12:31pm Dec 10, 2009 12:31pm
Chris,
I hope you are well and having a happy Christmas season. I follow your thread as you may know and I just realized that you are still under evaluation. I rated your thread as it is very worthy.

Sorry I was slow.

Mike
  • #6,172
  • Dec 10, 2009 1:04pm Dec 10, 2009 1:04pm
Quoting calderone
Chris,
I hope you are well and having a happy Christmas season. I follow your thread as you may know and I just realized that you are still under evaluation. I rated your thread as it is very worthy.

Sorry I was slow.

Mike
How can I rate it too? It should be 10 stars!

VB,
  • #6,173
  • Dec 10, 2009 2:49pm Dec 10, 2009 2:49pm
Quoting VitaminBeer
How can I rate it too? It should be 10 stars!

VB,
Scroll up to the top of the thread and look for the rate this thread tab.

  • #6,174
  • Dec 10, 2009 2:56pm Dec 10, 2009 2:56pm
Quoting VitaminBeer
How can I rate it too? It should be 10 stars!

VB,
You have to have 4 vouches I think....Twee posted the criteria in the "About the Commercial Forum" thread.
  • #6,175
  • Dec 10, 2009 2:56pm Dec 10, 2009 2:56pm
Quoting calderone
Chris,
I hope you are well and having a happy Christmas season. I follow your thread as you may know and I just realized that you are still under evaluation. I rated your thread as it is very worthy.

Sorry I was slow.

Mike

Thanks Mike, I appreciate it mate.
  • #6,176
  • Dec 11, 2009 6:06am Dec 11, 2009 6:06am
Went long over night.....not the best entry, but that's life I suppose.
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  • #6,177
  • Dec 11, 2009 6:10am Dec 11, 2009 6:10am
Another trade.....
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  • #6,178
  • Dec 11, 2009 6:37am Dec 11, 2009 6:37am
Hi there,

I am still studying and would like your opinion on some things I see.
I have attached a picture for each, I hope it is not a bother.

AUDUSD, possible sell around 0.9230
EURUSD, posisble sell around 1.4900
GBPCAD, possible buy around 1.6900
GBPUSD, possible sell around 1.6500
What do you think ? Do they make sense ?


Thanks,

Michael
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The quality of your life is brought about by the quality of your thinking.
  • #6,179
  • Dec 11, 2009 6:41am Dec 11, 2009 6:41am
Quoting hornet
Hi there,

I am still studying and would like your opinion on some things I see.
I have attached a picture for each, I hope it is not a bother.

AUDUSD, possible sell around 0.9230
EURUSD, posisble sell around 1.4900
GBPCAD, possible buy around 1.6900
GBPUSD, possible sell around 1.6500
[font=Arial][size=2]What do you think ? Do they make...

No bother at all. They all look reasonable....but the EUR/USD is all wrong. In order for it to get to 1.49, it would have to come back up.....and I am short that pair. So we can't have that now can we?
  • #6,180
  • Dec 11, 2009 6:44am Dec 11, 2009 6:44am
LOL,

thanks for the quick reply Chris. And since you were so nice to me, I will let you off the hook and not make EURUSD come back

The quality of your life is brought about by the quality of your thinking.
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