Bov 28 - Dec 3rd 2010

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Bov 28 - Dec 3rd 2010

Post  Levaz on Sun Nov 28, 2010 6:30 pm

Keeping in mind that the markets have low liquidity, we have the following trade:

GBPJPY short at 131.48 SL 132.48 TP 130.00

Levaz
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Levaz

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Re: Bov 28 - Dec 3rd 2010

Post  Levaz on Mon Nov 29, 2010 8:25 pm

GBPJPY short at 131.48 SL 132.48 TP 130.00
order was not picked up, please cancel the order.

With the Euro 85 Billion Irish bailout a done deal, and Ireland sponsoring Euro 22 Billion of this with loans from others (??? very strange), we need to see if the markets has been satiated or will they move on to the next target, Portugal, and force a bail-out there as well. The spreads show that the markets are not convinced that the Irish issue was local to Ireland only.

Accounting for all of that, we have:
USDJPY long 84.17 SL 83.50 TP 85.50

A higher risk trade, but you may want to consider
EURJPY short 111.00 SL 111.50 TP 107.00

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Re: Bov 28 - Dec 3rd 2010

Post  Levaz on Wed Dec 01, 2010 8:20 pm

USDJPY long 84.17 SL 83.50 TP 85.50
this one got picked and dumped like a rock, and then spiked immediately higher :sigh:

EURJPY short 111.00 SL 111.50 TP 107.00
This one did not get picked up. However, it went in the desired direction, only to spike right back up.

These are the low liquidity markets that I warn you about.

Also, my apologies for not posting yesterday, I needed rest. Fell asleep at 5:30pm and did not wake up till 7AM the next morning.

I am going to try and pick up a good GBP position.

GBPUSD long at 1.5567 SL 1.5525 TP 1.5750

The reason for the tight stop even in such markets, is that if 1.5550 is broken, chances are that it may go another 100 pips or more and then simply bounce back!!

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Re: Bov 28 - Dec 3rd 2010

Post  Levaz on Thu Dec 02, 2010 8:25 pm

GBPUSD long at 1.5567 SL 1.5525 TP 1.5750
Order picked up and stopped out.

Tomorrow is NFP, and good reports are expected. However, we do not know whether the market will react with a risk on / risk off effect or will this be taken as strong fundamentals from the US economy (and that the Feds did the right thing) and in turn mean a stronger USD. this is the dilemma of most majors.

Good results means a stronger USDJPY and conversely, USDJPY should go down with lower than expected results.

I choose to stay out, but if you trade, use the USDJPY pair which should relatively easy to ride.

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Re: Bov 28 - Dec 3rd 2010

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