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  • #63,181
  • Dec 13, 2012 8:46am Dec 13, 2012 8:46am
Quoting Ken A
Since when scalping = busy writing?
Shhhh Don't give away my secret
Those who say it cannot be done should not interrupt those who are doing it
  • #63,182
  • Dec 13, 2012 8:47am Dec 13, 2012 8:47am
Quoting D2tz
Trivia: when is the fiscal cliff deadline?
There is no deadline because a deal can be made retroactive. It's all hype for political posturing purposes.

Sure, it will affect the markets if a deal is not reached by New Year, but politicians only care about their careers... not ours.
Those who say it cannot be done should not interrupt those who are doing it
  • #63,183
  • Dec 13, 2012 8:49am Dec 13, 2012 8:49am
Mmmm.. Looks like Jessica Mortimer is very promosing specialist
69
  • #63,184
  • Dec 13, 2012 8:53am Dec 13, 2012 8:53am
Quoting PipTrapper
There is no deadline because a deal can be made retroactive. It's all hype for political posturing purposes.

Sure, it will affect the markets if a deal is not reached by New Year, but politicians only care about their careers... not ours.
That's right, and in the meanwhile USD is undervalued, until the day where they announce that they agree on the path to follow.
Do you expect it will have a major impact on USD againt all counter parties (CAD included)?
  • #63,185
  • Dec 13, 2012 8:56am Dec 13, 2012 8:56am
Quoting D2tz
That's right, and in the meanwhile USD is undervalued, until the day where they announce that they agree on the path to follow.
Do you expect it will have a major impact on USD againt all counter parties (CAD included)?
Definitely and I don't see why CAD is an exception.
  • #63,186
  • Dec 13, 2012 9:02am Dec 13, 2012 9:02am
Quoting Ken A
Definitely and I don't see why CAD is an exception.
CAD seems to be unshakable. perhaps it's why the IMF added it as a reserve currency (http://seekingalpha.com/instablog/48...rency-reserves)
  • #63,187
  • Dec 13, 2012 9:05am Dec 13, 2012 9:05am
Quoting D2tz
CAD seems to be unshakable. perhaps it's why the IMF added it as a reserve currency (http://seekingalpha.com/instablog/48...rency-reserves)
CAD and AUD + NZD are seen as safe haven. Until things are settled in US, all those money will not come out from hiding into higher yield instruments.

Nothing is unshakable if there's a political reason. For example Iran Currency.
  • #63,188
  • Dec 13, 2012 9:19am Dec 13, 2012 9:19am
50 Pips ‏@50Pips euro looking for upside stops...
Trade smaller than rational because the market is irrational...
  • #63,189
  • Dec 13, 2012 9:24am Dec 13, 2012 9:24am
Quoting EuroTraderJD
50 Pips ‏@50Pips euro looking for upside stops...
3110/3120 looks good for a short. it looks like it has the legs. TBD.
Any prices quoted are futures
  • #63,190
  • Dec 13, 2012 9:25am Dec 13, 2012 9:25am
Quoting Ken A
CAD and AUD + NZD are seen as safe haven. Until things are settled in US, all those money will not come out from hiding into higher yield instruments.

Nothing is unshakable if there's a political reason. For example Iran Currency.
You mean the fiasco cliff? *fiscal
  • #63,191
  • Dec 13, 2012 9:29am Dec 13, 2012 9:29am
Quoting D2tz
You mean the fiasco cliff? *fiscal
I am currently long USD/CAD with TP @ 0.993x
My view is that USD/CAD is in a tight range due to low volume and also because 0.99xx seems to be the sweet spot where it finds itself the most. whenever the pair wanders off this mark, it tends to come back. the further away the better..
  • #63,192
  • Dec 13, 2012 9:32am Dec 13, 2012 9:32am
Quoting D2tz
I am currently long USD/CAD with TP @ 0.993x
My view is that USD/CAD is in a tight range due to low volume and also because 0.99xx seems to be the sweet spot where it finds itself the most. whenever the pair wanders off this mark, it tends to come back. the further away the better..
It should be safe to long U/CAD now.

BTW, where have you been?
  • #63,193
  • Dec 13, 2012 9:34am Dec 13, 2012 9:34am
Quoting D2tz
I am currently long USD/CAD with TP @ 0.993x
My view is that USD/CAD is in a tight range due to low volume and also because 0.99xx seems to be the sweet spot where it finds itself the most. whenever the pair wanders off this mark, it tends to come back. the further away the better..
Level
Technical Significance
0.9895
10-Day MA
0.9888
Daily High Dec 10
0.9880
Daily High Dec 11
0.9865
Daily High Dec 12
0.9829
15:20 GMT THU 13 DEC
0.9795
61.8% of 0.9633 - 1.0057
0.9764
Daily Low Oct 11
0.9736
Daily Low Oct 5
0.9731
Daily Low Sept 21
Position
At
Open/Close
Target
Stop
FLAT
0.9880
2012-12-07T08:53:00


USD/CAD continues to grind lower, S/T oversold conditions have unwound (24-hr M/A Bollis -1.9 vs yesterday's astronomical -5.5) but remain oversold. Spot is attempting to break through the bottom of the daily Ichi cloud (0.9834) and a close below there would confirm we're in a bear trend, not just a wide trading range. We'd like to fade a pop on the day (+2.0 24-hr M/A B'B 0.9860) - PCW
Copyright (c) 2012 Thomson Reuters - IFRMarkets

I'm going by this religiously until weekend.
  • #63,194
  • Dec 13, 2012 9:37am Dec 13, 2012 9:37am
Quoting Ken A
It should be safe to long U/CAD now.

BTW, where have you been?
Working for a corporate FX company as a broker. Been watching rates purely for clients. I decided to resume trading my oanda account full time. and that goes hand in hand with roaming the boards
  • #63,195
  • Dec 13, 2012 9:41am Dec 13, 2012 9:41am
Quoting D2tz
Working for a corporate FX company as a broker. Been watching rates purely for clients. I decided to resume trading my oanda account full time. and that goes hand in hand with roaming the boards
Glad to hear that.

I have been holding my U/CAD long 1.0146 since we last talk. Don't remember how long it was. It's like a curse and blessing. The curse is paying the negative swaps and visually disturbing. The blessing is I learn something along the way.
  • #63,196
  • Dec 13, 2012 9:45am Dec 13, 2012 9:45am
Quoting Ken A
Glad to hear that.

I have been holding my U/CAD long 1.0146 since we last talk. Don't remember how long it was. It's like a curse and blessing. The curse is paying the negative swaps and visually disturbing. The blessing is I learn something along the way.
I mostly day trade, however I'll keep a position open for a week at times.. but yeah, the negative interest simply adds insult to injury
  • #63,197
  • Dec 13, 2012 10:00am Dec 13, 2012 10:00am
Thinking to short but there's a barrier at 1.3100. Don't know what will happen next.


Greek PM: Greece avoided going off a cliff
Written by Jamie Coleman
December 13, 2012 at 15:47 GMT

Majority of bailout funds will stay in Greece (PM’s portion will go the Switzerland…)
Focus will be on job creation, growth
today’s decisions an opportunity to end Greek crisis



http://www.revelstokemuseum.ca/image...s/bearTRAP.gif

  • #63,198
  • Dec 13, 2012 10:04am Dec 13, 2012 10:04am
Quoting Ken A
Thinking about to short but there's a barrier at 1.3100. Don't know what will happen next.


Greek PM: Greece avoided going off a cliff
Written by Jamie Coleman
December 13, 2012 at 15:47 GMT

Majority of bailout funds will stay in Greece (PM’s portion will go the Switzerland…)
Focus will be on job creation, growth
today’s decisions an opportunity to end Greek crisis
A short is a great idea. Besides, you'll limit your losses since the 1.31 barrier break would be your SL
  • #63,199
  • Dec 13, 2012 10:08am Dec 13, 2012 10:08am
Quoting D2tz
A short is a great idea. Besides, you'll limit your losses since the 1.31 barrier break would be your SL
Not the level I want to short. It just might overshoot. There are layers or offers above 1.3175.
  • #63,200
  • Dec 13, 2012 10:09am Dec 13, 2012 10:09am
EUR/USD unable to surmount 1.3100

Written by Jamie Coleman
December 13, 2012 at 16:01 GMT

Earlier reports of central bank sales seem to be on target as EUR/USD once again tests 1.3100 but fails to give way to the upside.
If long, run, don’t walk for the exits if support at 1.3035/40 gives way. Such a move would put a near-term top in place.
Trade smaller than rational because the market is irrational...
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