Hey Shahab - Isn't it breathtaking? Do you remember this chart I posted on 19th June? If only I had followed my most expert technical analysis
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Weekly COT report Analysis + Trade Ideas
- #4,181
- Aug 3, 2010 11:02am Aug 3, 2010 11:02am
- Joined Jul 2009 | Status: The Alchemist | 8,917 Posts
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- #4,182
- Aug 3, 2010 1:05pm Aug 3, 2010 1:05pm
Hi Patience ,
How is it going? They are selling USD like there is no tomorrow ,whether it's a correction to downtrend (E/U and G/U I mean) or its a new uptrend it needs a sizable correction from this level,particularly Cable.
You are still around here. That's Cool! Was already wondering why I could not find this thread anymore.. as it is in the commercial section now...
Hope everything is going fine for you. But I'm sure you are doin great
Interesting market-moves these days.
Was riding AU and EU in some longer-term trades up to the current levels.
Didn't think I would ever manage to hold a trade for 10 days.. but it's possible
Took profit on the rest of my Longs today. EU hit my TP almost to the pip before it started a first lil retrace (after US Data).
Almost seems we switched from "Euro-bashing" to "Dollar-bashing" already. But even if this is the new trend now there needs to be some correction sooner or later. Especially for sky-rocket aka Cable.
For more longer-term trades I might stand aside for now and wait if NFP on Friday brings some indications...
So lets see.
Regards, Tuner
"Blue Horseshoe loves Anacott Steel!"
- #4,183
- Aug 3, 2010 1:26pm Aug 3, 2010 1:26pm
- | Joined Apr 2009 | Status: temporarily correct | 1,757 Posts
- #4,184
- Aug 3, 2010 2:26pm Aug 3, 2010 2:26pm
- Joined Jul 2009 | Status: The Alchemist | 8,917 Posts
Hey Shahab my friend..
You are still around here. That's Cool! Was already wondering why I could not find this thread anymore.. as it is in the commercial section now...
Hope everything is going fine for you. But I'm sure you are doin great
Interesting market-moves these days.
Was riding AU and EU in some longer-term trades up to the current levels.
Didn't think I would ever manage to hold a trade for 10 days.. but it's possible
Took profit on the rest of my Longs today. EU hit my TP almost to the pip before it started a first lil...
The thread has been moved to commercial ,but I try to keep it as the old format to share the trade ideas and set ups. It has nothing to do with the other activities.
I read your great calls in Saxon'x thread. Very impressive trades and I must say you are doing excellent work, particularly your long Assuie trade from .86 ish, well done
.Speaking of Cable , it's hanging around a strong R level , but I've just read this which makes me thinking about the bigger picture:
"Former BoE deputy governor John Gieve said he expects BoE to "no nothing" this month and in Autumn. However, he expects when BoE starts to raise rates, the bank will do it "faster than most other forecasters seem to think. Rates could climb to 2.5% to 3% quite quickly when UK gets "solid growth" over the quarters. This is in sharp contrast to markets expectation that BoE would just inch up to 1% in Q2 of 2011. "
- #4,186
- Aug 3, 2010 3:18pm Aug 3, 2010 3:18pm
- | Joined Apr 2009 | Status: temporarily correct | 1,757 Posts
- #4,187
- Aug 3, 2010 4:02pm Aug 3, 2010 4:02pm
Hi Tuner, my dear friend
I read your great calls in Saxon'x thread. Very impressive trades and I must say you are doing excellent work, particularly your long Assuie trade from .86 ish, well done
Speaking of...
Thanks. That Aussie was a nice ride indeed. But a real struggle for myself to let it run (still got to get used to the longer term thing)
After cashing in the first longs around 90 I reloaded longs from just above 89
and finally cashed in today.
Nice info concerning cable. Maybe this also explains those extreme moves we've already seen now. So standing aside for the moment is not completely wrong for me maybe.
Lookin at the RSI (14) on the daily it is above 70 and holding for now.
Had a look back in the charts. Back in May 2009 something similar can be seen.
--> Also around 1.5950 / 1.60 area
--> Also a nice bullrun of about 1500 pips driving the RSI above 70
--> RSI holding above 70
Back then we ranged a bit up there with some smaller retraces at that area but RSI still holding above the 70 line and finally another leg up of 700 more pips before showing a bigger retrace.
Just some thoughts....
Not sure if we can compare current moves with the ones back then.
But sometimes I just like to have a look back in time
So gonna be interesting
"Blue Horseshoe loves Anacott Steel!"
- #4,197
- Aug 4, 2010 5:01am Aug 4, 2010 5:01am
It's not wise to enter like this ,particularly now it's forming an ascending triangle in hr chart.Patience is the key here, watch PA at monthly R1 at 1.5986 for a possible entry.
That's pretty much what we all discussed in the charts a few days ago, no?
So, you would time a Daily enrty on the 1hr charts?
- #4,198
- Edited 2:39pm Aug 4, 2010 12:14pm | Edited 2:39pm
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Nothing worth having is easy.
- #4,199
- Aug 4, 2010 2:40pm Aug 4, 2010 2:40pm
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Hi Victory83
That's weird. I can't see your post even though it says you have posted before I click into the thread. Don't keep creating new usernames because FF will just multiple username you. Contact Twee and see if you can reinstate your original username.
That's weird. I can't see your post even though it says you have posted before I click into the thread. Don't keep creating new usernames because FF will just multiple username you. Contact Twee and see if you can reinstate your original username.
Nothing worth having is easy.
