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Nearly Naked (Simple Trades)

  • #1,501
  • May 16, 2010 7:41pm May 16, 2010 7:41pm
Quoting Saxon
It seems like a lot of them (GU and EU threads) are waiting on correction. I'm not going to lie, I'm waiting on a micro-term correction to give me a good price to trade with the trend, I think they are waiting for a counter-trend entry.
This is a chart I have for G/J, and this gonna trade similar to E/U and G/U. I have a feeling we just started a trend. A correction may not come till we see A/U at .60

Mini Corrections are sometimes hard to spot in trends, almost better short and move stops. If stopped out, short again.

Attached Image
  • #1,502
  • May 16, 2010 7:47pm May 16, 2010 7:47pm
Anyone in A/U right now? Amy? I can't determine if this thing is going to 8800 right now or if it's looking for a retrace first.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,503
  • May 16, 2010 7:49pm May 16, 2010 7:49pm
Quoting MarcVUM
Anyone in A/U right now? Amy? I can't determine if this thing is going to 8800 right now or if it's looking for a retrace first.
I think lower before any chance of a retrace but I am not trading it this week, just holding what I have.
  • #1,504
  • May 16, 2010 7:50pm May 16, 2010 7:50pm
Quoting amyc
I think lower before any chance of a retrace but I am not trading it this week, just holding what I have.
Gotcha. Thanks.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,505
  • May 16, 2010 7:57pm May 16, 2010 7:57pm
Quoting MarcVUM
Anyone in A/U right now? Amy? I can't determine if this thing is going to 8800 right now or if it's looking for a retrace first.

Hi Marc, set a sell limit at w.p .8928, it may not get there though. If you really like to short ,wait for a RSI>70 in 1min chart then sell.
Daily.P is .8892 , S1 is .8814 I think it may bounce at D.S1.
  • #1,506
  • May 16, 2010 8:00pm May 16, 2010 8:00pm
Quoting Saxon
It seems like a lot of them (GU and EU threads) are waiting on correction. I'm not going to lie, I'm waiting on a micro-term correction to give me a good price to trade with the trend, I think they are waiting for a counter-trend entry.
But it's crazy, trying to fight this kind of trend with all the uncertainty and all that why not just go with the flow.

Even though we all know GU's due for a correction, that doesn't mean they should be trading the correction. I've been adding to short positions on EU each time it goes up I short.. and so on. But I have just one trade on GU which I entered @1.4455.

Basically, I believe it has to do with what clouds said. Psychology.
  • #1,507
  • May 16, 2010 8:02pm May 16, 2010 8:02pm
Quoting shahab8b
Hi Marc, set a sell limit at w.p .8928, it may not get there though. If you really like to short ,wait for a RSI>70 in 1min chart then sell.
Thanks. I took one at 8830 towards 8810
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,508
  • May 16, 2010 8:04pm May 16, 2010 8:04pm
Quoting MarcVUM
Anyone in A/U right now? Amy? I can't determine if this thing is going to 8800 right now or if it's looking for a retrace first.
China came onboard an hour ago and took the price down about 30 pips. I have found that whatever China starts the rest mostly follow. Also Singapore, Hong Kong and Jakarta just came on line, let’s see what they do.
  • #1,509
  • May 16, 2010 8:04pm May 16, 2010 8:04pm
Quoting wh1zz0
But it's crazy, trying to fight this kind of trend with all the uncertainty and all that why not just go with the flow.

Even though we all know GU's due for a correction, that doesn't mean they should be trading the correction. I've been adding to short positions on EU each time it goes up I short.. and so on. But I have just one trade on GU which I entered @1.4455.

Basically, I believe it has to do with what clouds said. Psychology.
No we don't. It actually already had a correction from 1.45 to 1.50.
  • #1,510
  • May 16, 2010 8:04pm May 16, 2010 8:04pm
Quoting MarcVUM
Thanks. I took one at 8830 towards 8810

Good luck then. d.s1 at .8814 ,don't forget.
  • #1,511
  • May 16, 2010 8:06pm May 16, 2010 8:06pm
Quoting shahab8b
Good luck then. d.s1 at .8814 ,don't forget.
yea, it should hit since 88"00" is right below. Hopefully!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,512
  • May 16, 2010 8:18pm May 16, 2010 8:18pm
Quoting MarcVUM
yea, it should hit since 88"00" is right below. Hopefully!

Wow, look what Singapore and Hong Kong did. I think it will go to 88400 and come back down again. They’re setting up for a run down.
  • #1,513
  • May 16, 2010 8:24pm May 16, 2010 8:24pm
Quoting Peter-FX
Wow, look what Singapore and Hong Kong did. I think it will go to 88400 and come back down again. They’re setting up for a run down.
That should have been the highs there at 8838, that is Mondays dp based on gmt midnight. If it can break 8814 now it should run down to 8789, maybe lower.
  • #1,514
  • May 16, 2010 8:28pm May 16, 2010 8:28pm
Great analysis guy/girls, a lot of good stuff. I'll be watching AU with you. EU is approaching 2007/2008 low, about 20 or so pips off.
  • #1,515
  • May 16, 2010 8:28pm May 16, 2010 8:28pm
Quoting Saxon
Great analysis guy/girls, a lot of good stuff. I'll be watching AU with you. EU is approaching 2007/2008 low, about 20 or so pips off.
Make that a 2009 low too I think
  • #1,516
  • May 16, 2010 8:30pm May 16, 2010 8:30pm
Quoting Saxon
Make that a 2009 low too I think
Here
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  • #1,517
  • May 16, 2010 8:30pm May 16, 2010 8:30pm
Quoting Saxon
Make that a 2009 low too I think
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,518
  • May 16, 2010 8:33pm May 16, 2010 8:33pm
Pardon the sloppy chart, here is a wider view
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Click to Enlarge Name: rrrrrrr.gif Size: 54 KB
  • #1,519
  • May 16, 2010 8:34pm May 16, 2010 8:34pm
Quoting amyc
That should have been the highs there at 8838, that is Mondays dp based on gmt midnight. If it can break 8814 now it should run down to 8789, maybe lower.

Thanks amyc, yes it’s coming down for its second try of 8814.

  • #1,520
  • May 16, 2010 8:39pm May 16, 2010 8:39pm
Quoting Saxon
Pardon the sloppy chart, here is a wider view
Do you think we have enough momentum to break it? Half tempted to take a position in it
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