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Nearly Naked (Simple Trades)

  • #4,061
  • Jun 20, 2010 3:50pm Jun 20, 2010 3:50pm
Quoting amyc
No shorts for me on AU, shorting above the green highs is the highest risk trade there is. It might be ok if your just looking for a few but it should be capped at 8764 and continue higher before the next major swing down.
I am out of all o my positions right now, just exiting UCHF (second trade) and GU. Now waiting for targets on EU, UCHF, GU and AU. Did ok though.
  • #4,062
  • Jun 20, 2010 3:50pm Jun 20, 2010 3:50pm
Quoting MarcVUM
I'm in crisis mode right now. My wireless connection failed! Really Bad Timing! Be back in a few!
Good luck
  • #4,063
  • Jun 20, 2010 3:53pm Jun 20, 2010 3:53pm
SPX has broken above the magical 1120, the 50% line of the 2007-09 drop, which it struggled with over the latter half of the week.

And there's a H&S pattern forming with shoulder at 1150, which is connected with another interesting pattern on the monthly:

http://www.forexfactory.com/showpost...postcount=3791

A couple of interesting months ahead...
Attached Image (click to enlarge)
Click to Enlarge Name: spx 20 june daily.jpg Size: 202 KB
  • #4,064
  • Jun 20, 2010 4:00pm Jun 20, 2010 4:00pm
I am with Amy here. I think AU is going to go further north and any downwards moves should be restricted around 8734. I am looking at 8892 and 9026 (and then 9117). Btw, these are the levels I mentioned to Jesus the other day - http://www.forexfactory.com/showpost...postcount=3962

I am actually short UC when it broke the support level the other day.
  • #4,065
  • Jun 20, 2010 4:06pm Jun 20, 2010 4:06pm
Quoting aragorn123
I am with Amy here. I think AU is going to go further north and any downwards moves should be restricted around 8734. I am looking at 8892 and 9026 (and then 9117). Btw, these are the levels I mentioned to Jesus the other day - http://www.forexfactory.com/showpost...postcount=3962

I am actually short UC when it broke the support level the other day.
Let me join the "Don't short Aussie" club as well. With the interest rate differentials it's bloody expensive to be short Aussie for longer-term players. Not until the equities head south will Aussie go down to any meaningful extent. Just my view, and I've been wrong before.
  • #4,066
  • Jun 20, 2010 4:19pm Jun 20, 2010 4:19pm
Quoting Saxon
I am out of all o my positions right now, just exiting UCHF (second trade) and GU. Now waiting for targets on EU, UCHF, GU and AU. Did ok though.
good job mate
i closed mine as well from the gap, not much but not too bad
will also resume waiting stance for targets

how did you go shahab?
  • #4,067
  • Jun 20, 2010 5:01pm Jun 20, 2010 5:01pm
u/cad shows no sign of stopping, happily heading towards parity, yet again
  • #4,068
  • Jun 20, 2010 5:25pm Jun 20, 2010 5:25pm
Quoting amyc
No shorts for me on AU, shorting above the green highs is the highest risk trade there is. It might be ok if your just looking for a few but it should be capped at 8764 and continue higher before the next major swing down.
Good call
  • #4,069
  • Jun 20, 2010 5:47pm Jun 20, 2010 5:47pm
Something that I am looking at with AU up
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 137 KB
  • #4,070
  • Jun 20, 2010 5:50pm Jun 20, 2010 5:50pm
What is everyone's potential entry, if they are, for the EU 1.25 trade? I have 1.2495 or maybe sooner, trying to decide.
  • #4,071
  • Jun 20, 2010 5:51pm Jun 20, 2010 5:51pm
Quoting Saxon
Something that I am looking at with AU up
What is your 1st Fib at? 8861?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #4,072
  • Jun 20, 2010 5:52pm Jun 20, 2010 5:52pm
Quoting Saxon
What is everyone's potential entry, if they are, for the EU 1.25 trade? I have 1.2495 or maybe sooner, trying to decide.
I'm with you. 5 under unless I go to bed then I'll set the PO at 10 below.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #4,073
  • Jun 20, 2010 5:55pm Jun 20, 2010 5:55pm
Quoting Saxon
What is everyone's potential entry, if they are, for the EU 1.25 trade? I have 1.2495 or maybe sooner, trying to decide.
How many pips are you looking for?
  • #4,074
  • Jun 20, 2010 5:58pm Jun 20, 2010 5:58pm
Quoting MarcVUM
What is your 1st Fib at? 8861?
8844 and 8875
  • #4,075
  • Jun 20, 2010 6:01pm Jun 20, 2010 6:01pm
Quoting Saxon
8844 and 8875
Take a look at the confluence in that area on my chart. I also have a Fib ext 161.8 from the low "A" to "B".
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 270 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #4,076
  • Jun 20, 2010 6:04pm Jun 20, 2010 6:04pm
btw... I'm going to take a quick short at Daily R3 8826.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #4,077
  • Jun 20, 2010 6:04pm Jun 20, 2010 6:04pm
AU should make it to 8867 within the next 24 hours.
Attached Image
  • #4,078
  • Jun 20, 2010 6:06pm Jun 20, 2010 6:06pm
Quoting amyc
How many pips are you looking for?
I am looking to get at least 2X profit to risk on this one. I am setting a tighter stop since there is a significant fib, S/R right above. Risking 20-30 on this one.

1.2624 and 1.2565 are the next targets for me above that. Since this is a psycholgically significant "00" I will at least, I believe, get to BE on the first test if PA decided to make a greater move north.
  • #4,079
  • Jun 20, 2010 6:13pm Jun 20, 2010 6:13pm
Possible EW count i m watching ,, a push to the 8850s level will probably complete wave 3 of wave 5 then a minor ret. before a final push up which might end at around 8880s up to 0.90 ,. will see how the waves unfold to decide where this will end
Attached Image (click to enlarge)
Click to Enlarge Name: 01 Jun. 21 04.00.jpg Size: 314 KB
  • #4,080
  • Jun 20, 2010 6:13pm Jun 20, 2010 6:13pm
Quoting Saxon
I am looking to get at least 2X profit to risk on this one. I am setting a tighter stop since there is a significant fib, S/R right above. Risking 20-30 on this one.

1.2624 and 1.2565 are the next targets for me above that. Since this is a psycholgically significant "00" I will at least, I believe, get to BE on the first test if PA decided to make a greater move north.
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 34 KB
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