First of all I am new here, but I have been trading currencies since about 2004, I seem to have all the bad habits of emotional traders but if nothing else by luck I've managed to survive with my capital intact.
Far from predicting the future I see trends and place contracts accordingly. There's a skip beat pattern that's been playing out here since about July, 100-150 drop followed by a 50-100 point retraction. I am not a technical trader I look at charts but mainly move on fundamentals.
EUR/USD should be range trading between 1.2520 and 1.2380 for the next 3 weeks. If you are short above 1.2520 you should be fine, you will need another
30% margin to be able to hold positions that may move against you till 1.2650 range, none of these numbers are exact most are +- about 10%
At about the end of the year you should see a move downward, by about Feb - Mar it's possible the EUR/USD will be 1.18xx trading under 1.20xx I suspect by
March if not sooner.
What's interesting is that 1.18xx may not be the bottom, I suspect the EUR and USD are about to switch places, by 2016 Jan the dollar will be worth more then the EUR
That said I've been short since 1.3xxx in July and am trying to find an exit. Any comments?
Does anyone else think it's possible we will go back over 1.25xx this week? Any fundamental that can help point the way?
I strive to be a .70 trader as that seems to be the average for honest long term success....
Far from predicting the future I see trends and place contracts accordingly. There's a skip beat pattern that's been playing out here since about July, 100-150 drop followed by a 50-100 point retraction. I am not a technical trader I look at charts but mainly move on fundamentals.
EUR/USD should be range trading between 1.2520 and 1.2380 for the next 3 weeks. If you are short above 1.2520 you should be fine, you will need another
30% margin to be able to hold positions that may move against you till 1.2650 range, none of these numbers are exact most are +- about 10%
At about the end of the year you should see a move downward, by about Feb - Mar it's possible the EUR/USD will be 1.18xx trading under 1.20xx I suspect by
March if not sooner.
What's interesting is that 1.18xx may not be the bottom, I suspect the EUR and USD are about to switch places, by 2016 Jan the dollar will be worth more then the EUR
That said I've been short since 1.3xxx in July and am trying to find an exit. Any comments?
Does anyone else think it's possible we will go back over 1.25xx this week? Any fundamental that can help point the way?
I strive to be a .70 trader as that seems to be the average for honest long term success....