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Realities of Forex Investment
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hisah
#671 Posted : Monday, January 31, 2011 5:17:59 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
EUR/USD short position 1 (20K size) closed @1.3630 with 260pips gain. Position 2 is still slighly in the money, but I've trailed the stoploss to breakeven (1.3760). However if the pair manages to reach that level, I'll re-enter the short again for a larger ride down to 1.3560.
Yet again USD/CHF is stuck in narrowing bollinger bands (4hr). It's been like watching paint dry, but downside risk look more of the likely breakout especially if 0.9350 gives way.
Small short term AUD/USD short at market (0.9954), ST 0.9990 and TP 0.9880 - This is attempting to test the AUD/USD on the 4hr chart bear flag.

update - forgot to mention I'm also speculating on wikileaks releasing the banks details this week to cause some discomfort in the money markets...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Monday, January 31, 2011 6:25 PM | Reason: Not specified
Ceinz
#672 Posted : Tuesday, February 01, 2011 11:47:58 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
CAD/JPY, buy order placed @ 82.20, TP 82.90, SL 81.80. Rsn. stochastic turning from oversold, bounce on the 4 hr rising channel, also good gdp figures for nov released yesterday, a good boost for the loonie.
“small step for man”
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qw25041985
#673 Posted : Tuesday, February 01, 2011 1:32:20 PM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
just got off long at 61.8 fib level on eur/usd w/ 30 pip profit. that first move was a fake-out..thank goodness i didnt enter it...
take a look at nzd/jpy on daily chart. its in a tight squeeze triangle....allot of news is expected out of australia this week of first of feb so i expect some quite trading...looking bullish..
Your future depends on your dreams so go to sleep !
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qw25041985
#674 Posted : Tuesday, February 01, 2011 1:40:11 PM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
@ Ceinz . YOU MUST BE JOKIN . BUYIN CAD !!!!!!!!!!!!!! can you cancel that order and save your money !!!!!!!

the pair just broke and closed below 100 ma ( very very very IMPORTANT moving average) and also closed below the rising trendline extending since 21 October. ...

i hope i didnt tell you tooo late but close the order !!!!!!!!!!
Your future depends on your dreams so go to sleep !
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Ceinz
#675 Posted : Tuesday, February 01, 2011 2:39:11 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Thanks qw, my order is still well above the current price 81.6. Actually ur right, coz the direction is south. Let me cancel it and concentrate on my scalp trades.
“small step for man”
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hisah
#676 Posted : Tuesday, February 01, 2011 9:01:35 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
EUR/USD position 2 closed at breakeven. AUDUSD SL hit for a 36pip loss. So what is the euro bull story today -> EU aid (EFSF) fund may be authorized to buy new bonds from governments! How this is viewed as bullish by the markets is quite interesting and the EUR/USD continues to push towards 1.40..? I'm sidelined on the EUR/USD for now, this is madness with the all the debt issues being monetized... Euro stocks all up. And so does the Dow and S&P also up to levels last seen in June 2008 and Sept 2008... The weekly candle sticks are turning bearish plus overbought RSI, but the markets just won't give up that easily... This looks like a classic blow off before a correction. Dow short revised with SL at 12100 and NASDAQ SL @2375. I will not fight with this irrationality...

With USD/CHF having broken below 0.9350, the $ should continue down south for a while.

I'm still looking for aussie shorts and AUD/USD now above 1.01 is looking interesting again.



$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Tuesday, February 01, 2011 9:02 PM | Reason: Not specified
The Merchant
#677 Posted : Tuesday, February 01, 2011 10:55:53 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
There is a potential Short opportunity on the usd/chf chart. Im just waiting for the leading span to cross under the lagging span to confirm this. Please notethat the usd/chf pair is -1 correlated with the eur/usd so any short position here should be followed by a simultaneous long position in the eur/usd. My eyes are glued to the screen.smile
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  | | Edit by user: Wednesday, February 02, 2011 8:36 AM | Reason: Not specified
Ceinz
#678 Posted : Wednesday, February 02, 2011 9:11:46 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:
Thanks qw, my order is still well above the current price 81.6. Actually ur right, coz the direction is south. Let me cancel it and concentrate on my scalp trades.


qw, reviewing my cancelled trade, well cad actually did turn around and looking at the charts my entry could have been triggered and i could have now be in the money. Thanks for the 'warning' though. still lots of opportunities to catch.
“small step for man”
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Ceinz
#679 Posted : Wednesday, February 02, 2011 9:44:46 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
@ Hisah, im with you on the aussie. After breaking above parity yesterday and finding resistance at the 1.0150 handle, and stochastics also in the overbought territory, looks like the bears can drive the pair all the way back to parity. looking to enter when it cross below 1.0100.

@ The merchant, my opinion is that usd/chf is already oversold. However there may still be short opportunies depending on how u look at it.
“small step for man”
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The Merchant
#680 Posted : Wednesday, February 02, 2011 10:14:46 AM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
@Ceinz. I was basing my tip on Ichimoku crossing over. Has not happened yet so Im waiting. However be careful to use the term oversold with this one. Things still look very bearish.
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