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  • #101
  • Jan 26, 2011 5:14pm Jan 26, 2011 5:14pm
As you know I was looking forward to selling the gbp crossses hard. They were all hitting resistance. Infact I successfully sold the gbpchf for 200pips profit.

Today we had strength from the gbp today because of the possibility of an increase in interest rates. Another member of the MPC called for an increase in interest rates to curb inflation. This means we are one less step away from an increase in rates.
If you think you can or cannot do it you are correct
  • #102
  • Jan 27, 2011 12:57am Jan 27, 2011 12:57am
Quoting Olu
As you know I was looking forward to selling the gbp crossses hard. They were all hitting resistance. Infact I successfully sold the gbpchf for 200pips profit.

Today we had strength from the gbp today because of the possibility of an increase in interest rates. Another member of the MPC called for an increase in interest rates to curb inflation. This means we are one less step away from an increase in rates.
Even though the MPC meeting minutes have been released yesterday, the meeting itself took place before the release of the horrible GDP figure...
  • #103
  • Jan 27, 2011 1:53am Jan 27, 2011 1:53am
I thought that gdp figures will cause the gbpusd to go to the 1.4xxx very quickly. We had a mad reaction - 200 pip fall and we have retraced it all now. The more reason we are technical traders. We just follow what the chart is saying...

Thanks Heliozds
If you think you can or cannot do it you are correct
  • #104
  • Jan 27, 2011 2:02am Jan 27, 2011 2:02am
Some weakness is coming back into eurgbp. we are doing a small 123top at overbought levels on the 4hrly right now. stoch has turned down as well.
If you think you can or cannot do it you are correct
  • #105
  • Jan 27, 2011 2:07am Jan 27, 2011 2:07am
Quoting Olu
A chart of the eurnzd is uploaded for your consideration.

Market is overbought
price crossed the 100sma but is returning below it
stoch has turned down

123 down formation is evident on the 4hrly chart
I think, the shorts are not a good idea. The price is above the trendline and above 100 sma. may be that is only correction to the upmove.

I don't see 123 formation on the 4h chart.
  • #106
  • Edited 8:51am Jan 27, 2011 8:39am | Edited 8:51am
In the end I did not trade my proposed eurgbp sell

I traded the audnzd sell instead (graphic uploaded). Incidentally this trade went in my favour, broke support bit is crawling back up above support right now. I have a small window (my lunch break) to decide whether to close or keep open
If you think you can or cannot do it you are correct
  • #107
  • Jan 27, 2011 8:46am Jan 27, 2011 8:46am
short @1.2907 SL 55pips Target open (but looking for a break of support)
Attached Image
If you think you can or cannot do it you are correct
  • #108
  • Jan 28, 2011 6:01am Jan 28, 2011 6:01am
Quoting Olu
short @1.2907 SL 55pips Target open (but looking for a break of support)
Trade closed @1.2847 for +60pips
Attached Image
If you think you can or cannot do it you are correct
  • #109
  • Jan 28, 2011 6:26am Jan 28, 2011 6:26am
Please fund uploaded a daily chart of the eurnzd
I am advocating a sell on this pair because of the following technical reasons

price repelled by the 200 and 100 ema
Price repelled at resistance
stoch has turned and is heading down

Fundamentally nzd is a more robust economy than the eur with all its issues

a cautious sell might be in order here...

Comments anyone...
NB it is also carry positive
Attached Image
If you think you can or cannot do it you are correct
  • #110
  • Jan 28, 2011 6:32am Jan 28, 2011 6:32am
Sorry I cut the last chart too much the legends are not showing
Attached Image
If you think you can or cannot do it you are correct
  • #111
  • Jan 28, 2011 8:16am Jan 28, 2011 8:16am
Quoting Olu
Please fund uploaded a daily chart of the eurnzd
I am advocating a sell on this pair because of the following technical reasons

price repelled by the 200 and 100 ema
Price repelled at resistance
stoch has turned and is heading down

Fundamentally nzd is a more robust economy than the eur with all its issues

a cautious sell might be in order here...

Comments anyone...
NB it is also carry positive


Are you in or out ?






golfer
  • #112
  • Edited 8:21am Jan 28, 2011 8:19am | Edited 8:21am
I am not in yet. I need a retracement. I would have to put my stop above the high which is too much for me...

My stop would have to be around 1.8000

Olu
If you think you can or cannot do it you are correct
  • #113
  • Jan 28, 2011 8:22am Jan 28, 2011 8:22am
I am short eurcad @1.3630.
If you think you can or cannot do it you are correct
  • #114
  • Jan 28, 2011 8:30am Jan 28, 2011 8:30am
Quoting Olu
I am short eurcad @1.3630.



  • #115
  • Jan 28, 2011 8:31am Jan 28, 2011 8:31am
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 25 KB
  • #116
  • Jan 28, 2011 8:37am Jan 28, 2011 8:37am
This pair has travelled north further than I thought it would and is due for a retracement. I would like to sell on a break of 0.8980 pivot

Thanks for the chart.
olu
If you think you can or cannot do it you are correct
  • #117
  • Jan 29, 2011 6:16am Jan 29, 2011 6:16am
Quoting Olu
This pair has travelled north further than I thought it would and is due for a retracement. I would like to sell on a break of 0.8980 pivot

Thanks for the chart.
olu
short @0.8575...
If you think you can or cannot do it you are correct
  • #118
  • Jan 29, 2011 4:01pm Jan 29, 2011 4:01pm
Another one to watch next week.

STP is not finished...but I will be looking for something like this.

Stop above 114.15'ish.




good hunting,



golfer
Attached Image (click to enlarge)
Click to Enlarge Name: ey.gif Size: 23 KB
  • #119
  • Jan 31, 2011 10:26am Jan 31, 2011 10:26am
Stopped out of the eurcad @1.3719 (-79pips)

The one and only trade open and it did get hairy (phew!) this morning is

Short eurgbp @8570. Currently @0.8554
If you think you can or cannot do it you are correct
  • #120
  • Jan 31, 2011 3:16pm Jan 31, 2011 3:16pm
I have uploaded a 4hr and daily chart of the euraud
please consider the following as an argument for a short

price has broken below a dominant trendline on the 4hr and the daily
there has been a feeble retest of the trendline which has failed. Todays candle shows indecision on the daily and sitting bang on the 100sma
Stochastics on the daily has turned down (not shown here)
The trade is carry positive

A break below 1.3670 might be a good sell. We would have our 123 entry setup

Comments?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud-daily-31012011-2050uk.jpg Size: 97 KB
Click to Enlarge Name: euraud-daily-31012011-2050(2)uk.jpg Size: 60 KB
If you think you can or cannot do it you are correct
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