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Nearly Naked (Simple Trades)

  • #1,061
  • May 5, 2010 4:53pm May 5, 2010 4:53pm
PA not coming in steep enough on my EU target, no trade
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Click to Enlarge Name: euu.gif Size: 38 KB
  • #1,062
  • May 5, 2010 5:08pm May 5, 2010 5:08pm
Quoting thadakman
Is it just me, or does the EURO seem like a pretty safe bet to get at least 1.30 out of it on the long side... not sure how high it'll go over... but it seems a given... look at the GBP when it lost 1.50, the USD/CAD when it lost 1.0000.... these big psychological numbers usually get crossed multiple times... A safer play would be to short the USD/CHF though (practically the same play though as the EUR/CHF has been locked at the hip)

Long story short, even if the EURO eventually goes to parity or lower, there is a very safe bet that it'll cross...
I see your point, but for me, I'm not so sure. There are a lot of external variables at work on EUR right now. I guess it depends on your time frame of analysis. Sure, it will eventually get back there, but when? I do see your point though and it is well supported
  • #1,063
  • May 5, 2010 5:10pm May 5, 2010 5:10pm
What a day. How's it going over there Saxon?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,064
  • May 5, 2010 5:11pm May 5, 2010 5:11pm
Quoting Saxon
Here is another potential friction point
It is so close but so far. If it doesnt get there by Asia session, it might get chopped up in opening volumes/volatility and a no trade
  • #1,065
  • May 5, 2010 5:13pm May 5, 2010 5:13pm
Quoting MarcVUM
What a day. How's it going over there Saxon?
Been taking a few pips here and there overall I am up for the day. Lost one trade but I am still in the green. A lot of my targets worked for me and I have been taking 10 here and there. How are your trades going? What's on the table for AU tonight/tomorrow?
  • #1,066
  • May 5, 2010 5:14pm May 5, 2010 5:14pm
Quoting Saxon
Been taking a few pips here and there overall I am up for the day. Lost one trade but I am still in the green. A lot of my targets worked for me and I have been taking 10 here and there. How are your trades going? What's on the table for AU tonight/tomorrow?
I in on A/U from Weekly S2 at 9045... should continue higher until 62ema on H1 or 150ema on M15. Did you get in on N/U at 5pm est?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,067
  • May 5, 2010 5:16pm May 5, 2010 5:16pm
Quoting MarcVUM
What a day. How's it going over there Saxon?
Been waiting for the UJ trade but if it doesn't get there soon, it will be a no go. The friction would be with the trend so that is a plus, and it is on "00" and old TL. I will probably go short with a 20 pip stop, but UJ is a tricky bast*rd. Tends to do what it wants, no one of my favorite pairs
  • #1,068
  • May 5, 2010 5:17pm May 5, 2010 5:17pm
Quoting Saxon
Been waiting for the UJ trade but if it doesn't get there soon, it will be a no go. The friction would be with the trend so that is a plus, and it is on "00" and old TL. I will probably go short with a 20 pip stop, but UJ is a tricky bast*rd. Tends to do what it wants, no one of my favorite pairs
I understand what you mean on U/J!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,069
  • May 5, 2010 5:25pm May 5, 2010 5:25pm
Quoting MarcVUM
I understand what you mean on U/J!
See what I mean, it just dropped without me now even if it does come back it will be a no go for me. Oh ya, when I said friction is with the trend I mean short/micro trend. Oh well, on to a new pair, which shall it be
  • #1,070
  • May 5, 2010 5:27pm May 5, 2010 5:27pm
UCHF might be a good short, looks overextended. Might test the waters with a small short with a SL above "00"
  • #1,071
  • May 5, 2010 5:33pm May 5, 2010 5:33pm
Quoting MarcVUM
I in on A/U from Weekly S2 at 9045... should continue higher until 62ema on H1 or 150ema on M15. Did you get in on N/U at 5pm est?
NU data soon
  • #1,072
  • May 5, 2010 5:36pm May 5, 2010 5:36pm
Quoting Saxon
NU data soon
Yea, seems to be helping A/U.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,073
  • May 5, 2010 5:48pm May 5, 2010 5:48pm
What do you think of A/U now that it has passed the Daily PP?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,074
  • May 5, 2010 5:55pm May 5, 2010 5:55pm
Quoting MarcVUM
What do you think of A/U now that it has passed the Daily PP?
Right now, for me, AU is stuck in MAs but I have targets above and below for trades on my H4 chart from earlier. I am watching UCHF and the H1 candle about to settle, might go in on a trade in that pair.
  • #1,075
  • May 5, 2010 6:03pm May 5, 2010 6:03pm
Quoting Saxon
Right now, for me, AU is stuck in MAs but I have targets above and below for trades on my H4 chart from earlier. I am watching UCHF and the H1 candle about to settle, might go in on a trade in that pair.
Alright, I've had enough. I'll be back in a few hours.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,076
  • May 5, 2010 6:17pm May 5, 2010 6:17pm
Eh, I booked an extremely small short position on UCHF, we'll see if Asia agrees with me
  • #1,077
  • May 5, 2010 6:18pm May 5, 2010 6:18pm
Quoting Saxon
Eh, I booked an extremely small short position on UCHF, we'll see if Asia agrees with me
Short @ 1.1180
  • #1,078
  • May 5, 2010 6:31pm May 5, 2010 6:31pm
Quoting Saxon
Short @ 1.1180
TP?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,079
  • May 5, 2010 6:31pm May 5, 2010 6:31pm
Quoting Saxon
Short @ 1.1180
It's a very good short set up imo, I will be really surprised it it doesn't fall at least 100 pips from here
Attached Image (click to enlarge)
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  • #1,080
  • May 5, 2010 6:36pm May 5, 2010 6:36pm
Quoting Saxon
UCHF might be a good short, looks overextended. Might test the waters with a small short with a SL above "00"
I'm in, 1.1190 looked too good to pass up pulling up a daily chart... targeting 1.1000
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