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Islander and Medici trade the European open

  • #1,541
  • May 3, 2010 1:49am May 3, 2010 1:49am
Quoting Islander
I have the 50% retrace of the fall at3269, also the MS1......I'm much happier selling Euro as I think more surprises are in store.....
Good thinking. Everything else being the same, with signals in the same direction for both pairs, it's long cable and short Euro.
  • #1,542
  • May 3, 2010 1:59am May 3, 2010 1:59am
Long cable in the 5190-5210 area looks promising.
  • #1,543
  • May 3, 2010 2:08am May 3, 2010 2:08am
Quoting medici
Long cable in the 5190-5210 area looks promising.

Agreed - I'm also watching Fridays low in € at 3226
Trading Levels with WRBs
  • #1,544
  • May 3, 2010 2:49am May 3, 2010 2:49am
€ put in a HL, whilst cable a LL which failed to get down to my buy limit placed just above the MS2 level. Instead I bought just above the fast MA at 5226....
Trading Levels with WRBs
  • #1,545
  • May 3, 2010 2:58am May 3, 2010 2:58am
Quoting Islander
I have the 50% retrace of the fall at3269, also the MS1......I'm much happier selling Euro as I think more surprises are in store.....
http://www.telegraph.co.uk/finance/c...-eurozone.html
Trading Levels with WRBs
  • #1,546
  • May 3, 2010 2:59am May 3, 2010 2:59am
Quoting Islander
€ put in a HL, whilst cable a LL which failed to get down to my buy limit placed just above the MS2 level. Instead I bought just above the fast MA at 5226....
That's good. Small buy at 5210 in my case with the intention of buying more if it went down towards MS2...
  • #1,547
  • May 3, 2010 3:08am May 3, 2010 3:08am
Quoting Islander

I'm much happier selling Euro as I think more surprises are in store....
Quote
http://www.telegraph.co.uk/finance/comment/rogerbootle/7669697/Greek-crisis-exposes-default-lines-running-through-the-eurozone.html[/url]

Agreed, but I think we're in for a long period of concerted attempts from everybody involved to come up with some sort of solution, and with no immediate funding needs (provided the deal goes through in time ahead of needed re-financing this week) that period may be many months or more.
  • #1,548
  • May 3, 2010 3:30am May 3, 2010 3:30am
May 3 (Bloomberg) -- Futures traders are more bearish than ever on the euro as Greece’s fiscal crisis spreads, suggesting further declines ahead for Europe’s shared currency.
Hedge funds and other large speculators raised net wagers on a euro drop by 25 percent to 89,013 contracts in the week ended April 27, Commodity Futures Trading Commission data shows. The euro weakened to $1.3226 at 8 a.m. in London after falling to a one-year low of $1.3115 on April 28 as Standard & Poor’s lowered Greece’s debt to junk and cut Portugal and Spain.........

So some kind of short covering rally could be expected?.....
Trading Levels with WRBs
  • #1,549
  • May 3, 2010 3:36am May 3, 2010 3:36am
Quoting Islander
May 3 (Bloomberg) -- Futures traders are more bearish than ever on the euro as Greece’s fiscal crisis spreads, suggesting further declines ahead for Europe’s shared currency.
Hedge funds and other large speculators raised net wagers on a euro drop by 25 percent to 89,013 contracts in the week ended April 27, Commodity Futures Trading Commission data shows. The euro weakened to $1.3226 at 8 a.m. in London after falling to a one-year low of $1.3115 on April 28 as Standard & Poor’s lowered Greece’s debt to junk and cut Portugal and Spain............
If everybody's short, where can the market go but up!? The majority is never right.

Still my long-term bet would be a Euro collapse, but not in the near future.
  • #1,550
  • May 3, 2010 3:39am May 3, 2010 3:39am
Quoting Islander
€ put in a HL, whilst cable a LL which failed to get down to my buy limit placed just above the MS2 level. Instead I bought just above the fast MA at 5226....

Closed for reasonable pips after the second attempt on the 5255 level failed and I'm finished for this morning.....BFN
Trading Levels with WRBs
  • #1,551
  • May 4, 2010 12:47am May 4, 2010 12:47am
GM - so after the rejection of the DP we have a drop into FO - the question is how far....yesterdays low at 5210, the 200 level and S1 ~ 5196 are the first candidates....
Trading Levels with WRBs
  • #1,552
  • May 4, 2010 1:06am May 4, 2010 1:06am
Quoting Islander
GM - so after the rejection of the DP we have a drop into FO - the question is how far....yesterdays low at 5210, the 200 level and S1 ~ 5196 are the first candidates....
It#s an easy morning, just buy at 7am
  • #1,553
  • May 4, 2010 1:09am May 4, 2010 1:09am
Quoting medici
It#s an easy morning, just buy at 7am
Thanks, I did - after closing my short first and then catching the HL.....
Trading Levels with WRBs
  • #1,554
  • May 4, 2010 1:21am May 4, 2010 1:21am
Quoting Islander
Thanks, I did - after closing my short first and then catching the HL.....
That's good. I closed for 20 and bought again on the dip. The Aussie selling seems to have subsided now...
  • #1,555
  • May 4, 2010 1:31am May 4, 2010 1:31am
Quoting medici
That's good. I closed for 20 and bought again on the dip. The Aussie selling seems to have subsided now...

Likewise, I've closed my last buy too after the 1 min LH.....expecting another attempt down into mid FH or LO....TWT....fast ma now up, slow ma still down
Trading Levels with WRBs
  • #1,556
  • May 4, 2010 1:34am May 4, 2010 1:34am
Quoting Islander
Likewise, I've closed my last buy too after the 1 min LH.....expecting another attempt down into mid FH or LO....TWT....fast ma now up, slow ma still down
Ditto...on the same page today, aren't we
  • #1,557
  • May 4, 2010 2:34am May 4, 2010 2:34am
LO has given another push down to new lows, with € so far holding at yesterdays low....I've taken a small buy after the high volume 5 min hammer into the low and will watch the PA around the fast and slow MAs
Trading Levels with WRBs
  • #1,558
  • May 4, 2010 2:37am May 4, 2010 2:37am
Quoting Islander
LO has given another push down to new lows, with € so far holding at yesterdays low....I've taken a small buy after the high volume 5 min hammer into the low and will watch the PA around the fast and slow MAs
I'm being cautious. Another stop hunt in the Euro on the cards. Buying cable at 5182 looks good.
  • #1,559
  • May 4, 2010 2:42am May 4, 2010 2:42am
Quoting medici
I'm being cautious. Another stop hunt in the Euro on the cards. Buying cable at 5182 looks good.
And I did.
  • #1,560
  • May 4, 2010 2:44am May 4, 2010 2:44am
hi Medici,

Please explain why 5182, I don't have that one

thanks
Money grows on the tree of persistence
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