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Chronix trading - Eurusd positions

  • #1
  • First Post: Apr 14, 2015 4:32pm Apr 14, 2015 4:32pm
hello there!

We will be posting our eurusd positions on daily basis, along with intraday views and interpretations.
Our last position was a sell order at 1.0745 which was filled, TP was set at 1.0527 which was also hit. We were sideways today, will post our position tomorrow.

We will also post some other positions occasionally.

Good luck traders!
"The policy of being too cautious is the greatest risk of all."
  • #2
  • Edited 11:08pm Apr 14, 2015 9:26pm | Edited 11:08pm
Will u explain how did u choose your position on 1.0745 ???
  • #3
  • Apr 15, 2015 12:53am Apr 15, 2015 12:53am
EurUsd: Sell at 1.0782 for 1.0585 SL 1.0845
UsdJpy : Buy at 118.81 for 120.84 SL 118.16

Visit I am afraid we do not go over the trades we make, although I will take it into consideration and explain some of them.

Good luck traders
"The policy of being too cautious is the greatest risk of all."
  • #4
  • Apr 15, 2015 2:41am Apr 15, 2015 2:41am
ECB Conference is due today, best to stay sideways till Draghi speaks. We are pretty sure that if Draghi does not mention it himself, a question from the floor will address it, regarding the growth and the possibility to cut the QE short, a positive answer from Draghi could give the Euro a good boost, while a negative answer will likely bring the pair to a fresh month low. He will also give insights about the overall growth and recovery in the eurozone, this will be critical as well as his views regarding the inflation.

All in all, we remain sideways, awaiting a real direction for the pair, as we think it is chippy to trade now, especially prior to ECB.

Levels to track today: 1.0525 - 1.0724

Good luck all.
"The policy of being too cautious is the greatest risk of all."
  • #5
  • Apr 15, 2015 6:57am Apr 15, 2015 6:57am
Quoting Cryptic
ECB Conference is due today, best to stay sideways till Draghi speaks. We are pretty sure that if Draghi does not mention it himself, a question from the floor will address it, regarding the growth and the possibility to cut the QE short, a positive answer from Draghi could give the Euro a good boost, while a negative answer will likely bring the pair to a fresh month low. He will also give insights about the overall growth and recovery in the eurozone, this will be critical as well as his views regarding the inflation. All in all, we remain sideways,...
Glad you started this thread. cheers
  • #6
  • Apr 15, 2015 7:44am Apr 15, 2015 7:44am
Mid-day update:

Rate cut by BOC - could lay heavily on CAD/Oil
Draghi attacked by a protestor - ECB conference on hold - Doesn't look too serious
Eurusd range mentioned above still the same. a break out of either side could lead to further bleeding.

Good luck trading the ECB Conf.!
"The policy of being too cautious is the greatest risk of all."
  • #7
  • Apr 15, 2015 7:49am Apr 15, 2015 7:49am
This is the best thread ever..thank you Mr Cryptic..

Pitta
  • #8
  • Apr 15, 2015 8:20am Apr 15, 2015 8:20am
Euro is pushing on Draghi's comments about inflation and rate decisions, along with another bad figures from the US. A push towards 1.0668 is in play, if filled 1.0720 is eyed, a fail to break above that level will see the pair consolidating around the 1.06xx figure the end the day there.
"The policy of being too cautious is the greatest risk of all."
  • #9
  • Apr 15, 2015 8:36am Apr 15, 2015 8:36am
Quoting Cryptic
Euro is pushing on Draghi's comments about inflation and rate decisions, along with another bad figures from the US. A push towards 1.0668 is in play, if filled 1.0720 is eyed, a fail to break above that level will see the pair consolidating around the 1.06xx figure the end the day there.
1.0668 was hit as mentionned, if momentum holds we could see 1.0720 in the NY session, same analysis remains, a fail to break above 1.0720 will likely end of the day around 1.06xx figure.
"The policy of being too cautious is the greatest risk of all."
  • #10
  • Apr 15, 2015 11:55am Apr 15, 2015 11:55am
end of day update:

1.0668 was never practically broken, as we stated, a fail will force the pair to consolidate in the lower 1.06xx levels to close the day.

The greenback is under pressure due to a series of bad numbers and crude oil rise. Not expecting anymore surprises for the rest of ghr night. Our main goal is still preferring to sell euro on higher levels, high 1.07xx or low 1.08xx would be best.

Main event for the USD is now the inflation, could be as important as NFP regarding the rate hikes. USD could use a good numbers if it wants to regain control, otherwise we may see other currencies take a breathe against it.

Have a good night traders!
"The policy of being too cautious is the greatest risk of all."
  • #11
  • Apr 15, 2015 9:38pm Apr 15, 2015 9:38pm
Fundamental + Technical..
Good to see here..
  • #12
  • Apr 16, 2015 12:59am Apr 16, 2015 12:59am
Good morning traders!

Our USDJPY buy order has been trigger yesterday night (Buy at 118.81 - yesterday lows was 118.79), that was close. However, we will be tightning our position due to the uncertainty of the dollar during this week (High crude oil and consecutive bad numbers this week), we will be reducing our TP to 119.78 and our stop loss was raised to break even at 119.82.

We will also be looking for opportunities to sell EURUSD, same strategy as yesterday, 1.0780 is our target to sell, might enter a trade before though incase we see the euro goes out of momentum. We will keep you guys updated.

Good luck all!
"The policy of being too cautious is the greatest risk of all."
  • #13
  • Apr 16, 2015 4:01am Apr 16, 2015 4:01am
Eurusd looks like its consolidating in the same mini-channel for the time being, awaiting more data from the US and updates on greece for a trend continuation/reversal. Only driver for the day would be Housing and Unemployment claims for the USD. A good figure could push the pair for another test on 1.0578, while bad figures could retest the 1.0680 levels for another shot at 1.0720.
Also two members of the FOMC are going to speak today, so keep a close eye on that.

Levels to track for today: 1.0570 - 1.0720.

Good luck traders!
"The policy of being too cautious is the greatest risk of all."
  • #14
  • Apr 16, 2015 5:51am Apr 16, 2015 5:51am
1st scenario: Sell at 38.2% retracement at 1.0820 for a run towards 1.0570.
2nd scenario: pair breaks the fibo level and make a run towards 1.0922 for another selling opportunity.
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"The policy of being too cautious is the greatest risk of all."
  • #15
  • Apr 16, 2015 12:24pm Apr 16, 2015 12:24pm
Quoting Cryptic
Eurusd looks like its consolidating in the same mini-channel for the time being, awaiting more data from the US and updates on greece for a trend continuation/reversal. Only driver for the day would be Housing and Unemployment claims for the USD. A good figure could push the pair for another test on 1.0578, while bad figures could retest the 1.0680 levels for another shot at 1.0720. Also two members of the FOMC are going to speak today, so keep a close eye on that. Levels to track for today: 1.0570 - 1.0720. Good luck...
End of day update:

As mentioned today,with bad results eurusd could clear 1.0680 to test 1.0720. Tomorrow is crucial as the results of the US inflation are going to be released. Bad numbers could mean a run towards 1.0820 if cleared we could see 1.0880 and then 1.0922 where the selling pressure resumes. On the flip side, good figures could see the pair push down to 1.0570 to retest 1.0520.
Choose you position wisely, our forecasts for the inflation are along the consesus with a possibility of a tick higher up to 0.3.

Good luck traders!
"The policy of being too cautious is the greatest risk of all."
  • #16
  • Apr 17, 2015 1:15am Apr 17, 2015 1:15am
Good morning traders!

Our selling order was missed by 7 pips (Sell at 1.0820 - Yesterday highs were 1.0813). We will be looking for another opportunity to sell around that level.
CPI is the main driver for today, and is very important for the rate hikes, a good figure is needed to keep the chances of hikes in June alive, otherwise, September is the soonest.
We think the strong US dollar should push the inflation further up, but hurts the retail sales and the other sectors of the economy. So we expect a good number today, not too much of a good one, but along with the consensus, so no surprises are expected.

levels to track for today: 1.0570 - 1.0880

Good luck traders!
"The policy of being too cautious is the greatest risk of all."
  • #17
  • Apr 17, 2015 6:37am Apr 17, 2015 6:37am
Quoting Cryptic
Good morning traders! Our selling order was missed by 7 pips (Sell at 1.0820 - Yesterday highs were 1.0813). We will be looking for another opportunity to sell around that level. CPI is the main driver for today, and is very important for the rate hikes, a good figure is needed to keep the chances of hikes in June alive, otherwise, September is the soonest. We think the strong US dollar should push the inflation further up, but hurts the retail sales and the other sectors of the economy. So we expect a good number today, not too much of a good one,...
Did your short get triggered or you're waiting for the news? I'm still long from 1.0633 and waiting to see the figures to stop or keep it running
  • #18
  • Apr 17, 2015 7:45am Apr 17, 2015 7:45am
Quoting Cryptic
Good morning traders! Our selling order was missed by 7 pips (Sell at 1.0820 - Yesterday highs were 1.0813). We will be looking for another opportunity to sell around that level. CPI is the main driver for today, and is very important for the rate hikes, a good figure is needed to keep the chances of hikes in June alive, otherwise, September is the soonest. We think the strong US dollar should push the inflation further up, but hurts the retail sales and the other sectors of the economy. So we expect a good number today, not too[/highlight]...
As we forementioned, no surprises for the CPI were expected. 1.0770 needs to be broken to make another test at 1.0720 and eventually close the day around the 1.06xx figure, to confirm the end of the EUR correction.

Yes WS121 our order got triggered and we are currently in short. Although no promises to where this might go, but we were definite that 1.0830 was the last resistance for the eurusd, a break above that level will force a run towards 1.12 to form another top, and eventually run down back to test the year lows.
So we suggest you place your TP slightly below the 1.0770 level.

failure to break 1.0770 is bad news for the dollar anyhow. So we will keep a close eye on that.

Good luck traders!
"The policy of being too cautious is the greatest risk of all."
  • #19
  • Last Post: Apr 20, 2015 1:30am Apr 20, 2015 1:30am
Good morning traders!

We closed our EURUSD position at 1.0774 from 1.0820, and placed another sell stop at 1.0922 with a stop at 1.0951, if filled, target 1.0680.

Light schedule today, some pullbacks already took place, some will during the intraday. Nothing major to be mentioned for the time being, dollar still consolidating and euro still falling against the major pairs.

Levels to track for today: 1.0680-1.0830.

Good luck traders!
"The policy of being too cautious is the greatest risk of all."
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