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EURUSD

  • #437,981
  • May 8, 2011 4:09pm May 8, 2011 4:09pm
I won't be surprised to see 1.426x or even 1.418x, but we'll see an uptick this week, it may be late Monday or Tuesday, but we'll see it. Then you're looking at a 200-300 pip run up! Patience folks....patience!
  • #437,982
  • May 8, 2011 4:09pm May 8, 2011 4:09pm
bbl
those who can, do. those who cant, talk about those who can
  • #437,983
  • May 8, 2011 4:15pm May 8, 2011 4:15pm
  •  mrmat
  • | Joined Sep 2010 | Status: One day I shall leave the temple | 131 Posts
My take is that this bull move has been way overdone for some time. Looking at the DX chart, I feel that it would take a major crisis to push us even lower.

Also, the CFTC commitment of traders report shows that commercials have become extremely long of the USDX in the past few weeks/months. This is a good indicator for the long term time frame, the commercials were right on being long on all the major DX lows.

The USD sucks, but this weakness has been overdone, though thats not to say we cant have another rally in the EUR to touch 1.50 or even break it, but at this point I doubt it.

One thing I am wondering is IF the EURO does manage to entere into a downtrend and the USD strengthens, does that kill commodities and risk assets for a few months?

I personally hope that the stronger commodities with good fundamentals (AKA WHEAT) will rally and diverge from the stupid risk on/risk off world we have been in recently. If not, whatever.
Attached Image (click to enlarge)
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  • #437,984
  • May 8, 2011 4:17pm May 8, 2011 4:17pm
Quoting GulfCoastPip
I won't be surprised to see 1.426x or even 1.418x, but we'll see an uptick this week, it may be late Monday or Tuesday, but we'll see it. Then you're looking at a 200-300 pip run up! Patience folks....patience!
agree, by st I meant short term...
  • #437,985
  • May 8, 2011 4:20pm May 8, 2011 4:20pm
Opened small position - TP 1.4392, NO SL - will hedge from 1.4360. As long as market stays within 1.42 - 1.49 levels for next couple of days (weeks), I will hedge...
  • #437,986
  • May 8, 2011 4:30pm May 8, 2011 4:30pm
Quoting wannaberich
what's a N bounce?

thanks

WBR
North.

Now you tell me what "bbl" means?
The Thief of Wall Street
  • #437,987
  • May 8, 2011 4:33pm May 8, 2011 4:33pm
Quoting ScreenTimer
Opened small position - TP 1.4392, NO SL - will hedge from 1.4360. As long as market stays within 1.42 - 1.49 levels for next couple of days (weeks), I will hedge...
personally I don't get the logic in paying 2x spread and tying up margin just to be flat or have a small loss locked, but that's just me, whatever works for ya...
  • #437,988
  • May 8, 2011 4:33pm May 8, 2011 4:33pm
Quoting Chicky
North.

Now you tell me what "bbl" means?
bbl - be back later

brb - be right back

blt - bacon, lettuce, tomato
  • #437,989
  • May 8, 2011 4:35pm May 8, 2011 4:35pm
Quoting ScreenTimer
blt - bacon, lettuce, tomato
This one is my Fav...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,990
  • May 8, 2011 4:35pm May 8, 2011 4:35pm
Quoting FibbinArchie
personally I don't get the logic in paying 2x spread and tying up margin just to be flat or have a small loss locked, but that's just me, whatever works for ya...
for me - hedging works great if we are in sideways channel, your positions will get covered sooner or later. I wouldn't recommend hedging in general though, if you don't feel comfy, don't do it.
  • #437,991
  • May 8, 2011 4:35pm May 8, 2011 4:35pm
Quoting ScreenTimer
bbl - be back later

brb - be right back

blt - bacon, lettuce, tomato
or

 

  1. Baltic Basketball League
  2. Basketball Bundesliga
  3. Bank Bruxelles Lambert, a Belgian bank, now merged into ING Group
  4. Internet acronym for "Be Back Later"
  5. Benthic boundary layer
  6. Bird Banding Laboratory
  7. British Basketball League
  8. British Brothers League
  9. Blasland, Bouck, Lee
  10. Oxford council estate Blackbird Leys
  11. Balgzand Bacton Line (BBL Pipeline)
  12. Borough, Block and Lot

  • #437,992
  • May 8, 2011 4:36pm May 8, 2011 4:36pm
Quoting egkid
Can i tell my opinion ? or better shut up?
You have time until it gets to 1.4500 where my short order is.
The Thief of Wall Street
  • #437,993
  • May 8, 2011 4:37pm May 8, 2011 4:37pm
Quoting ScreenTimer
Opened small position - TP 1.4392, NO SL - will hedge from 1.4360. As long as market stays within 1.42 - 1.49 levels for next couple of days (weeks), I will hedge...
Isn't your TP just above the 1.438/9 resistance? Where did you enter?
  • #437,994
  • May 8, 2011 4:39pm May 8, 2011 4:39pm
Quoting ScreenTimer
for me - hedging works great if we are in sideways channel, your positions will get covered sooner or later. I wouldn't recommend hedging in general though, if you don't feel comfy, don't do it.
yeah I see your point, I just figure close and reverse... or go to sidelines so you can objectively re-analyse...
  • #437,995
  • May 8, 2011 4:41pm May 8, 2011 4:41pm
Quoting Larseg
or

[list][*]Baltic Basketball League[*]Basketball Bundesliga[*]Bank Bruxelles Lambert, a Belgian bank, now merged into ING Group[*]Internet...
LOL, Blackbird Leys is a pretty notorious (rough) neighbourhood, I'm actually originally from Oxford (not BBL mind)...

http://www.chavtowns.co.uk/2005/01/blackbird-leys/
  • #437,996
  • May 8, 2011 4:42pm May 8, 2011 4:42pm
Quoting ScreenTimer
bbl - be back later

brb - be right back

blt - bacon, lettuce, tomato
Don't need that one.

See below and above to check resemblance.
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The Thief of Wall Street
  • #437,997
  • May 8, 2011 4:43pm May 8, 2011 4:43pm
Quoting FibbinArchie
personally I don't get the logic in paying 2x spread and tying up margin just to be flat or have a small loss locked, but that's just me, whatever works for ya...
Attached Image
Thank You
  • #437,998
  • May 8, 2011 4:43pm May 8, 2011 4:43pm
Quoting FibbinArchie
yeah I see your point, I just figure close and reverse... or go to sidelines so you can objectively re-analyse...
everybody has a unique style of trading - i know a friend who's hedging even 1000 pip moves - but he's only trading eur/cad i think...
  • #437,999
  • May 8, 2011 4:47pm May 8, 2011 4:47pm
Quoting wormboy
each to their own, I guess...
  • #438,000
  • May 8, 2011 4:48pm May 8, 2011 4:48pm
Quoting Chicky
You have time until it gets to 1.4500 where my short order is.
All depends on Asia session, After few H my weekly close then I will start my plan for the week.
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