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Realities of Forex Investment
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Ceinz
#961 Posted : Tuesday, May 24, 2011 12:51:22 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
As promised, am taking advantage of the dip in Euro last week
Trades on;
EUR/USD @ : 1st psn:1.4043, SL 1.4070, TP 1.4180
: 1st psn:1.4110, SL 1.4080, TP 1.4065
EUR/GBP @
Already lost some pips on EUR/CHF long, but recouped abit on GBP/CHF short
“small step for man”
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hisah
#962 Posted : Wednesday, May 25, 2011 5:15:04 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Hmmm... If USDCHF breaks above .8950, the EURUSD will head to 1.37 before solid buy support. If buy support fails here, the euro will tank again by 500pips!?

Gold/silver futures are struggling to keep upward pressure after early month heavy selling; sellers to regain the wheel soon.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#963 Posted : Thursday, May 26, 2011 7:05:09 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Either I'm flipped or 2011 didn't happen???

This euro drama is the same 2010 script... After the euro got battered last year, China was fronted as a Greek bond buyer. The euro crosses surged for a week. 3 weeks later, the euro was at crazy lows of 1.19.

Here we are in 2011, with Portugal as the additional character in this cast of 2010. China to buy Portuguese bonds. Reaction, euro surging. An extra to note, NZD is also surging.

I'll be waiting for EURUSD to rebound to 1.44 - 1.45 were I'll short it on large lot size aiming that gap of 1.25... The higher the rebound, the better. At the same time, I'll wait for the EURGBP to rebound to .88 - .89 and short it large aiming .82.

This reminds me of USDCHF. If it gets back to .85 - .86 levels, I'll be long aiming a break above .8950.

USDCAD also looks likely to break above parity. Buy target from .94 - .95

Happy trading...


updated - http://www.wazua.co.ke/f...&m=179089#post179089
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Thursday, May 26, 2011 11:08 AM | Reason: Not specified
fxtech
#964 Posted : Thursday, May 26, 2011 7:29:29 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
staying Short usdchf, audnzd
Long xauusd, xagusd
Discipline & sticking to your strategy even when you loosing defines great traders.
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fxtech
#965 Posted : Friday, May 27, 2011 6:54:22 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
Entered SHORT USDJPY @81.08 Open objective
Discipline & sticking to your strategy even when you loosing defines great traders.
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hisah
#966 Posted : Friday, May 27, 2011 7:18:35 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Interesting day... Credit Agricole will probably default or ask for a bailout soon. This has seen the CHF strength relentlessly with both EURCHF and USDCHF at year lows... Seems like the USDCHF inverse move is decoupling from EURUSD.

There is also another bank, Dexia, watching it like a hawk. Euro bulls had better be careful...

Greece opposition --> http://www.dailymotion.c...ch-on-parliament-t_news

http://www.ajc.com/busin...ers-fail-to-959235.html

It is May 2010 yet again...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#967 Posted : Saturday, May 28, 2011 10:57:09 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
USD index daily chart. Still below falling trend line. When it breaks above this, a 3 - 6months rally will be on the cards. Long USD/JPY would have a lot of room to rally making GBPJPY or CADJPY profitable as a carry trades. I'll avoid aussie & kiwi due to china slowdown.

http://stockcharts.com/d...=ID3225058&cmd=show[s224230059]&disp=P
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Saturday, May 28, 2011 10:58 AM | Reason: Not specified
Ceinz
#968 Posted : Monday, May 30, 2011 9:04:50 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
hisah wrote:
USD index daily chart. Still below falling trend line. When it breaks above this, a 3 - 6months rally will be on the cards. Long USD/JPY would have a lot of room to rally making GBPJPY or CADJPY profitable as a carry trades. I'll avoid aussie & kiwi due to china slowdown.

http://stockcharts.com/d...=ID3225058&cmd=show[s224230059]&disp=P


Looking at the US$ Index, the daily falling trendline was broken around 14th March, Maybe u meant the weekly.
“small step for man”
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  | | Edit by user: Monday, May 30, 2011 9:11 AM | Reason: Not specified
QW25071985
#969 Posted : Monday, May 30, 2011 9:40:48 AM
Rank: Veteran

Joined: 3/25/2011
Posts: 946
ultra thin volumes today...us and uk markets closed.no use trading unless scalping 5 -10 pips
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hisah
#970 Posted : Monday, May 30, 2011 11:31:23 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Interesting week this will be with all the protests in spain despite barcelona beating manutd. Yesterday's protests span from Spain, Greece, Italy & France. Things are slowly frothing...

AUDCAD above 1.04 - Short order at 1.045 and 1.05. Lot size 0.2. Open objective.

USDCHF back at my buy target range 0.85 - 0.86. Buy order at 0.8450, SL 0.8350. TP - TBA. Lot size 0.1 since it is risky due to 'Grease' tensions & their crappy politicians.

@Ceinz - I meant weekly.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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