Sept 12 - 17, 2010
Sept 12 - 17, 2010
Hi all,
Back to business, we have no new trades for today. We are waiting essentially to see the movement on the USD Index. Currently we believe that the USD is headed down as there is more QE on the horizon, Euro and GBP have "apparently" taken measures to control their deficits, and the Eurozone has bought a couple of years on their bank issue.
We now wait for a good entry point on several pairs.
Levaz
Back to business, we have no new trades for today. We are waiting essentially to see the movement on the USD Index. Currently we believe that the USD is headed down as there is more QE on the horizon, Euro and GBP have "apparently" taken measures to control their deficits, and the Eurozone has bought a couple of years on their bank issue.
We now wait for a good entry point on several pairs.
Levaz
Levaz- Posts : 498
Join date : 2010-02-19
Age : 54
Location : Toronto
Re: Sept 12 - 17, 2010
We are still waiting for a good entry point.
For now, it looks like a revival of the Euro across the board. We need to see if it can break out of the current range, and then how it behaves at the 1.3000 level.
If you really want to trade, you can see if you can get a long EURUSD at 1.2750 -1.2780 range with a stop at 1.2650 TP 1.2900
Levaz
PS I am sorry about the late post today, I just got done with several meetings.
For now, it looks like a revival of the Euro across the board. We need to see if it can break out of the current range, and then how it behaves at the 1.3000 level.
If you really want to trade, you can see if you can get a long EURUSD at 1.2750 -1.2780 range with a stop at 1.2650 TP 1.2900
Levaz
PS I am sorry about the late post today, I just got done with several meetings.
Levaz- Posts : 498
Join date : 2010-02-19
Age : 54
Location : Toronto
Re: Sept 12 - 17, 2010
Yesterday's trade did not get picked up - we played too safe even for a risky trade (in my books).
We now have seen a slight penetration of 1.3000 and we need to see if the pair makes it to the 200 DMA.
We have the following trades:
EURUSD long at 1.2935 SL 1.2890 TP 1.3250
CHFJPY long at 83.00 SL 82.50 TP 89.00
IUf you wish to be more aggressive, please enter the trades at current levels but keep the SL and TP as indicated above.
As I write, EURUSD is around 1.2990 and CHFJPY is around 83.40
Levaz
We now have seen a slight penetration of 1.3000 and we need to see if the pair makes it to the 200 DMA.
We have the following trades:
EURUSD long at 1.2935 SL 1.2890 TP 1.3250
CHFJPY long at 83.00 SL 82.50 TP 89.00
IUf you wish to be more aggressive, please enter the trades at current levels but keep the SL and TP as indicated above.
As I write, EURUSD is around 1.2990 and CHFJPY is around 83.40
Levaz
Levaz- Posts : 498
Join date : 2010-02-19
Age : 54
Location : Toronto
Re: Sept 12 - 17, 2010
Neither of our orders were picked up, yet again we were playing a little too safe.Levaz wrote:EURUSD long at 1.2935 SL 1.2890 TP 1.3250
CHFJPY long at 83.00 SL 82.50 TP 89.00
In the expectation of a slight retrace after the huge moves in the Yen pairs, let us try to get in once again.
EURUSD long at 1.2955 SL 1.2890 TP 1.3250
The aggressive players will be in trade with a slight profit of about 10 - 15 pips right about now.
Levaz
Levaz- Posts : 498
Join date : 2010-02-19
Age : 54
Location : Toronto
Re: Sept 12 - 17, 2010
Order was not picked up again, missed by 20 pips or so.Levaz wrote:EURUSD long at 1.2955 SL 1.2890 TP 1.3250
Those that are in this trade are sitting pretty right about now. Protect about 30 - 50 pips and lock in those profits just in case. Get ready to bail out at 1.3300 and then to get back in if the rally continues.Levaz wrote:
If you wish to be more aggressive, please enter the trades at current levels but keep the SL and TP as indicated above.
As I write, EURUSD is around 1.2990 and CHFJPY is around 83.40
Levaz
There is a school of traders that feel a comeback of the USD against the CHF, however, I am not too keen to back the USD right now, so the other two choices are GBPCHF and EURCHF. I am more inclined to go with the EURCHF as this pair has a lot more volume than most people realize, more so than the USDCHF.
Also, with the recent BoJ intervention, (which we narrowly missed with our CHFJPY trade the other day), there is a possibility that the SNB will take advantage of the risk-on sentiment to augment the move against the CHF, not to mention that they managed to off load several Billions of the Euros that they had purchased in the past year.
EURCHF long at 1.3175 SL 1.3000 TP 1.3500
There is a chance that the pair may not go below 1.3200, but getting in at this rate or above only increases your exposure in case things do not quite work out. So weigh your entry points accordingly.
Another one worth the ride may be:
GBPUSD long at 1.5575 SL 1.5675 TP 1.5750
Levaz
Levaz- Posts : 498
Join date : 2010-02-19
Age : 54
Location : Toronto
Similar topics
» Sept 19 - 24, 2010
» Sept 26 - Oct 1, 2010
» Nov 14 - Nov 19 2010
» Nov 21 - Nov 26 2010
» Bov 28 - Dec 3rd 2010
» Sept 26 - Oct 1, 2010
» Nov 14 - Nov 19 2010
» Nov 21 - Nov 26 2010
» Bov 28 - Dec 3rd 2010
Permissions in this forum:
You cannot reply to topics in this forum
|
|