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  • #2,541
  • Edited 11:04am Jun 13, 2013 10:20am | Edited 11:04am
Quoting Olu
{quote} You are right Falcon232. In fact my mentor will say wait for the price to clearly show its hand and then we join the trend as we aim to be in it for the long term. This nugget is so true but some human beings have a need for some punishment Thanks F for adding to the thoughts on this thread Olu
There goes 5700. The 200sma reverse trade is all but gone...
However we see a rejection in play
Olu
If you think you can or cannot do it you are correct
  • #2,542
  • Jun 13, 2013 12:57pm Jun 13, 2013 12:57pm
Quoting Olu
{quote} There goes 5700. The 200sma reverse trade is all but gone... However we see a rejection in play Olu
I get a sense that the market wants a shot at the 61.8 retrace of the 2013 down move, which is at 1.5784. The hourly candle that shows the rejection still closed below 1.5700, which makes it interesting...
  • #2,543
  • Jun 13, 2013 2:23pm Jun 13, 2013 2:23pm
Quoting Olu
{quote} You are right Falcon232. In fact my mentor will say wait for the price to clearly show its hand and then we join the trend as we aim to be in it for the long term. This nugget is so true but some human beings have a need for some punishment.....
Hi Olu,

So true, but it is tough to work out a longer term plan and stick with it - seems so very boring. I also like to watch the characteristics of the first Pullback(all others as well for that matter). The nature of the PB frequently has important clues for the Trendīs evolution. As an example I am currently building some nice positions on short UJ, tho today I went flat with a Hedge waiting to see if we get a PB to resume or liquidate the trades. Hopefully this will be a Trend that I will be able to work for 6 weeks or so which I have found to be pretty average over the long run.

More musings/mutterings, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #2,544
  • Jun 13, 2013 4:00pm Jun 13, 2013 4:00pm
Quoting AlbinaGrande
{quote} Hi Olu, So true, but it is tough to work out a longer term plan and stick with it - seems so very boring. I also like to watch the characteristics of the first Pullback(all others as well for that matter). The nature of the PB frequently has important clues for the Trendīs evolution. As an example I am currently building some nice positions on short UJ, tho today I went flat with a Hedge waiting to see if we get a PB to resume or liquidate the trades. Hopefully this will be a Trend that I will be able to work for 6 weeks or so which I have...
Hi AG

Had a look at the chart of the eurjpy and its recent price action is ferrocious. However I dont think the downmove is over. EurJpy might certainly give you the trend you want.

Olu
If you think you can or cannot do it you are correct
  • #2,545
  • Jun 13, 2013 4:01pm Jun 13, 2013 4:01pm
Quoting falcon232
{quote} I get a sense that the market wants a shot at the 61.8 retrace of the 2013 down move, which is at 1.5784. The hourly candle that shows the rejection still closed below 1.5700, which makes it interesting...
Now back above it. This market is so volatile at the moment...

Olu
If you think you can or cannot do it you are correct
  • #2,546
  • Jun 13, 2013 5:43pm Jun 13, 2013 5:43pm
Orange Juice
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If you think you can or cannot do it you are correct
  • #2,547
  • Jun 13, 2013 8:04pm Jun 13, 2013 8:04pm
OJ is one of my favorites to trade. Especially when hurricane season is upon us. Makes for some good volatility.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,548
  • Jun 13, 2013 10:16pm Jun 13, 2013 10:16pm
Quoting Olu
Orange Juice
Great chart.......155 is a big number and it looks to have failed like you said.......COT likes the downside......this should be a great short!
Nice work O
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  • #2,549
  • Jun 14, 2013 8:50am Jun 14, 2013 8:50am
Thanks for your comments guys. A lot of commodities are at inflection points at the moment. Let's just make some mullah...

Olu
If you think you can or cannot do it you are correct
  • #2,550
  • Jun 15, 2013 10:50am Jun 15, 2013 10:50am
Dollar Index
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If you think you can or cannot do it you are correct
  • #2,551
  • Jun 15, 2013 10:53am Jun 15, 2013 10:53am
UsdCad
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If you think you can or cannot do it you are correct
  • #2,552
  • Jun 15, 2013 10:54am Jun 15, 2013 10:54am
usdjpy
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If you think you can or cannot do it you are correct
  • #2,553
  • Jun 15, 2013 11:05am Jun 15, 2013 11:05am
OJ
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If you think you can or cannot do it you are correct
  • #2,554
  • Jun 15, 2013 1:02pm Jun 15, 2013 1:02pm
Agreed. The 38% line saw pretty good rejection the first time, so I'm looking forward to seeing what happens early next week. The 200 day moving average will give additional support at 93.00.
  • #2,555
  • Jun 15, 2013 1:46pm Jun 15, 2013 1:46pm
Quoting falcon232
Agreed. The 38% line saw pretty good rejection the first time, so I'm looking forward to seeing what happens early next week. The 200 day moving average will give additional support at 93.00.

Hi Falcon232

I will bang on the 200ma and see. Thanks

Olu
If you think you can or cannot do it you are correct
  • #2,556
  • Jun 16, 2013 8:25am Jun 16, 2013 8:25am
Hi Olu,

Watching the Aussie and it's pairs. Check out this long term Weekly chart. The Daily also shows a recent gorgeous pin. Price still needs to confirm Break Out, but it certainly has my attention!!

Best, AG
Attached Image
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #2,557
  • Jun 16, 2013 10:09am Jun 16, 2013 10:09am
Quoting AlbinaGrande
Hi Olu, Watching the Aussie and it's pairs. Check out this long term Weekly chart. The Daily also shows a recent gorgeous pin. Price still needs to confirm Break Out, but it certainly has my attention!! Best, AG {image}
I am playing long this pair since the formation of that PB. However, I hate the AUD! always hurts me.
  • #2,558
  • Jun 16, 2013 10:13am Jun 16, 2013 10:13am
Quoting Olu
usdjpy {image}

I am still bearish this pair (after re-joining the bears on 11/6) as I am in general still bearish on $. Things will be cleared out after the Fed-meeting and the speak on the 19th.
  • #2,559
  • Jun 16, 2013 11:42am Jun 16, 2013 11:42am
Quoting AlbinaGrande
Hi Olu, Watching the Aussie and it's pairs. Check out this long term Weekly chart. The Daily also shows a recent gorgeous pin. Price still needs to confirm Break Out, but it certainly has my attention!! Best, AG {image}
Hi AG The aussis has my interest as well for a long trade. I will be waiting for it to really show its hand though before jumping in

Olu
If you think you can or cannot do it you are correct
  • #2,560
  • Jun 17, 2013 12:20pm Jun 17, 2013 12:20pm
Canadian $ Futures
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If you think you can or cannot do it you are correct
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