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EurAnalysis Kindergarten 24 replies

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  • #63,261
  • Dec 14, 2012 12:43am Dec 14, 2012 12:43am
Quoting PipTrapper
Good morning HP... Just hang in there. Why buy the top? Especially in pre-London Frankie trade which typically moves counter to the London session? Unless of course you are a bit over-leveraged.
Hey PT,

I'm definitely not going to buy but I don't want to be short and have another wave up occur... Happened last week and am starting to see bullish momentum pick up for NZD, AUD, and EUR.

Don't want to chance it especially if we get another 300-400 pip rally in any of the above mentioned currency pairs...
  • #63,262
  • Dec 14, 2012 12:46am Dec 14, 2012 12:46am
Quoting 100PipsADay
Hey PT,

I'm definitely not going to buy but I don't want to be short and have another wave up occur... Happened last week and am starting to see bullish momentum pick up for NZD, AUD, and EUR.

Don't want to chance it...
Understood. IMO your NZD/JPY short is a good play. It's way overbought and due for a bit of a reversal as soon as USD/JPY starts consolidating... and I believe that consolidation will happen today.

Anyway, nothing wrong with being flat. Take a break buddy. It seems you need one. Remember the market bakes a new fresh loaf of bread every day.
Those who say it cannot be done should not interrupt those who are doing it
  • #63,263
  • Dec 14, 2012 12:48am Dec 14, 2012 12:48am
Quoting PipTrapper
Understood. IMO your NZD/JPY short is a good play. It's way overbought and due for a bit of a reversal as soon as USD/JPY starts consolidating... and I believe that consolidation will happen today.

Anyway, nothing wrong with being flat. Take a break buddy. It seems you need one. Remember the market bakes a new fresh loaf of bread every day.
I was actually short NZD/USD, but you're right, NZD/JPY is way overbought and is in need of some sort of correction.

Definitely need to take a break though... Hate seeing profits that I work hard for disappear due to bad timing and positioning. I guess that's the name of the game though. Can't win em all.
  • #63,264
  • Dec 14, 2012 12:50am Dec 14, 2012 12:50am
I am going to hold on to all my YEN crosses and see what is there next year and stay away from shorting AUD and NZD.


Reuters poll: 14 out of 19 economists expect BOJ to ease monetary policy at Dec 19-20 meeting
Written by Gerry Davies
December 14, 2012 at 06:22 GMT

What do the good readers of Forexlive think?
USD/JPY at 83.86, EUR/JPY at 109.90. Barrier option interest at 84.00 and 110.00 respectively the next hurdles for the rampant yen bears.
  • #63,265
  • Dec 14, 2012 12:56am Dec 14, 2012 12:56am
Quoting Ken A
I am going to hold on to all my YEN crosses and see what is there next year.


Reuters poll: 14 out of 19 economists expect BOJ to ease monetary policy at Dec 19-20 meeting
Written by Gerry Davies
December 14, 2012 at 06:22 GMT

What do the good readers of Forexlive think?
USD/JPY at 83.86, EUR/JPY at 109.90. Barrier option interest at 84.00 and 110.00 respectively the next hurdles for the rampant yen bears.
Good morning Ken. Yes I believe that short Yen across the board is a good thing, but we are overdue for some consolidation. A nice wave of risk aversion will do it. Perhaps bad EZ PMI numbers couple with a Friday profit-taking might just set that in motion.

Also consider that the Yen rout is not only due to positioning, but also due to piggybackers. Those piggybackers will be unloading their Yen shorts before the weekend elections as they are only in it for the ride, and not the risk event itself. Also consider that those barriers will be defended (even though they will eventually fail)
Those who say it cannot be done should not interrupt those who are doing it
  • #63,266
  • Dec 14, 2012 12:59am Dec 14, 2012 12:59am
Quoting 100PipsADay
I was actually short NZD/USD, but you're right, NZD/JPY is way overbought and is in need of some sort of correction.

Definitely need to take a break though... Hate seeing profits that I work hard for disappear due to bad timing and positioning. I guess that's the name of the game though. Can't win em all.
Ahh my mistake. I thought it was NZD/JPY.
Anyway, whatever you choose to do, do it with conviction.
Those who say it cannot be done should not interrupt those who are doing it
  • #63,267
  • Dec 14, 2012 1:00am Dec 14, 2012 1:00am
By the way... My 1.3099 position was stopped out at BE, but I reentered at 1.3112
Those who say it cannot be done should not interrupt those who are doing it
  • #63,268
  • Dec 14, 2012 1:02am Dec 14, 2012 1:02am
Quoting PipTrapper
Good morning Ken. Yes I believe that short Yen across the board is a good thing, but we are overdue for some consolidation. A nice wave of risk aversion will do it. Perhaps bad EZ PMI numbers couple with a Friday profit-taking might just set that in motion.

Also consider that the Yen rout is not only due to positioning, but also due to piggybackers. Those piggybackers will be unloading their Yen shorts before the weekend elections as they are only in it for the ride, and not the risk event itself. Also consider that those barriers will be...
Morning PT,

Understood. Thanks for the reminder. I might close some to deleverge just in case we get a 300-400 pips whipsaw. But overall shorting YEN is the less worry for me anyway.
  • #63,269
  • Dec 14, 2012 1:05am Dec 14, 2012 1:05am
g'day all.

my short got triggered (1.3109)

lets see...
  • #63,270
  • Dec 14, 2012 1:06am Dec 14, 2012 1:06am
Quoting PipTrapper
Ahh my mistake. I thought it was NZD/JPY.
Anyway, whatever you choose to do, do it with conviction.
No problem.

If I choose to sit out I had better do it with conviction as well!

Probably just going to hold onto my E/A longs and sit out the rest of the month. Need to enjoy the holidays with as least stress as possible...
  • #63,271
  • Dec 14, 2012 1:10am Dec 14, 2012 1:10am
Quoting 100PipsADay
No problem.

If I choose to sit out I had better do it with conviction as well!

Probably just going to hold onto my E/A longs and sit out the rest of the month. Need to enjoy the holidays with as least stress as possible...
If you don't do anything else with conviction, at least do that (bolded text)
Those who say it cannot be done should not interrupt those who are doing it
  • #63,272
  • Dec 14, 2012 1:10am Dec 14, 2012 1:10am
Quoting msood
g'day all.

my short got triggered (1.3109)

lets see...
...that should take it down!
  • #63,273
  • Dec 14, 2012 1:12am Dec 14, 2012 1:12am
Quoting msood
...that should take it down!
Down where? Down under you are already there
  • #63,274
  • Dec 14, 2012 1:14am Dec 14, 2012 1:14am
Quoting Ken A
Down where? Down under you are already there
  • #63,275
  • Dec 14, 2012 1:16am Dec 14, 2012 1:16am
Quoting PipTrapper
If you don't do anything else with conviction, at least do that (bolded text)
Agreed!
  • #63,276
  • Dec 14, 2012 1:18am Dec 14, 2012 1:18am
Quoting 100PipsADay
No problem.

If I choose to sit out I had better do it with conviction as well!

Probably just going to hold onto my E/A longs and sit out the rest of the month. Need to enjoy the holidays with as least stress as possible...
Enjoy the Holiday, December Month offers nothing but stress ... so do some stress busting.

http://www.medindia.net/slideshow/im...Slideshow1.jpg
  • #63,277
  • Dec 14, 2012 1:22am Dec 14, 2012 1:22am
Quoting rekon67
Enjoy the Holiday, December Month offers nothing but stress ... so do some stress busting.

http://www.medindia.net/slideshow/im...Slideshow1.jpg
http://innovationfitnesssolutions.co...ess-buster.gif
Those who say it cannot be done should not interrupt those who are doing it
  • #63,278
  • Dec 14, 2012 1:29am Dec 14, 2012 1:29am
Stress prevention

There's a free cheese for everyone if we come out alive, otherwise that's a small price to pay

http://images.fineartamerica.com/ima...ami-sarkis.jpg

http://us.123rf.com/400wm/400/400/tr...mouse-trap.jpg

  • #63,279
  • Dec 14, 2012 1:31am Dec 14, 2012 1:31am
Inserted Video
Those who say it cannot be done should not interrupt those who are doing it
  • #63,280
  • Dec 14, 2012 1:33am Dec 14, 2012 1:33am
Quoting Ken A
Stress prevention

There's a free cheese for everyone if we come out alive, otherwise that's the small price to pay
Ken is researching on various traps eh? Any good trap you suggest for my good for nothing Manager?
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