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Realities of Forex Investment
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QW25071985
#971 Posted : Tuesday, May 31, 2011 7:32:58 AM
Rank: Veteran

Joined: 3/25/2011
Posts: 946
what on the menu today...

me i am looking to sell usd/chf
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hisah
#972 Posted : Tuesday, May 31, 2011 1:24:24 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Trade update - AUDCAD short @1.0450 lot size 0.2 triggered . Now I sit tight and wait. I was hoping the short order @1.05 would also get triggered; discarding this order.
Note the AUDCAD is a long term (monthly) trade. I'll only add larger lot sizes when 1.03 is broken down this week and rebounds back to 1.0350.

USDCHF buy order still intact despite the risk! I expect EURUSD to fail at 1.45 - 1.46 for the next down leg to 1.3750.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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QW25071985
#973 Posted : Tuesday, May 31, 2011 1:55:00 PM
Rank: Veteran

Joined: 3/25/2011
Posts: 946
hisah wrote:
Trade update - AUDCAD short @1.0450 lot size 0.2 triggered . Now I sit tight and wait. I was hoping the short order @1.05 would also get triggered; discarding this order.
Note the AUDCAD is a long term (monthly) trade. I'll only add larger lot sizes when 1.03 is broken down this week and rebounds back to 1.0350.

USDCHF buy order still intact despite the risk! I expect EURUSD to fail at 1.45 - 1.46 for the next down leg to 1.3750.


WOW. woudnt buy it. failed even the 50 m.a on 1 hr chart...Or are you banking on SNB swissie national bank rumoured rate hike ??? coz that wld really rally the pair.
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hisah
#974 Posted : Tuesday, May 31, 2011 2:51:15 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
QW25071985 wrote:
hisah wrote:
Trade update - AUDCAD short @1.0450 lot size 0.2 triggered . Now I sit tight and wait. I was hoping the short order @1.05 would also get triggered; discarding this order.
Note the AUDCAD is a long term (monthly) trade. I'll only add larger lot sizes when 1.03 is broken down this week and rebounds back to 1.0350.

USDCHF buy order still intact despite the risk! I expect EURUSD to fail at 1.45 - 1.46 for the next down leg to 1.3750.


WOW. woudnt buy it. failed even the 50 m.a on 1 hr chart...Or are you banking on SNB swissie national bank rumoured rate hike ??? coz that wld really rally the pair.



@QW - I do not trade short term. And when I do I say so. This is a weekly trade. CHF and Aussie are overcrowded with bulls who will be washed out soon. But for CHF, it's a bit risky since short term Greece/Portugal/Spain/Italy CDS drama is not looking pretty and investor may rest in CHF for the time being. I do not trade the news events since I look at the longer time frames. But I trade the traders pit rumours i.e. those that move the CDS markets.

On April 30th (post 931) before Euro bulls got killed, I cited this "Last week a Citigroup trader was summoned for starting some rumours about Greece money crunch and how to play its CDS while the distress plays out."

This is how I trade... Not depending on the bernanke, the Strauss, the Junckers, the G7 and any other puppet news of those that think they're in power...! Comprehende...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#975 Posted : Tuesday, May 31, 2011 9:15:27 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
hisah wrote:

@QW - I do not trade short term. And when I do I say so. This is a weekly trade. CHF and Aussie are overcrowded with bulls who will be washed out soon. But for CHF, it's a bit risky since short term Greece/Portugal/Spain/Italy CDS drama is not looking pretty and investor may rest in CHF for the time being. I do not trade the news events since I look at the longer time frames. But I trade the traders pit rumours i.e. those that move the CDS markets.

On April 30th (post 931) before Euro bulls got killed, I cited this "Last week a Citigroup trader was summoned for starting some rumours about Greece money crunch and how to play its CDS while the distress plays out."

This is how I trade... Not depending on the bernanke, the Strauss, the Junckers, the G7 and any other puppet news of those that think they're in power...! Comprehende...


hA HA. Love this, brings to mind a quote by Jim Rogers:-
“Get inside information from the president and you will probably lose half your money. If you get it from the chairman of the board, you will lose all of your money.”
Happy trading..
“small step for man”
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  | | Edit by user: Tuesday, May 31, 2011 9:25 PM | Reason: Not specified
Ceinz
#976 Posted : Wednesday, June 01, 2011 8:37:29 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
ultra thick volumes today...Kenyan banks holiday...

Ha ha, just kidding.

Long on EUR/GBP 0.8745, SL 0.8665, TP 0.8830. Will b keenly watching the UK and Euro Manufacturing PMI numbers.

Missed out on an opportunity go long on the loonie yesterday. USD/CAD for instance, previous support at 0.9667 holding, a break below this will target 0.9613 (Previous lows) and later on if there are enough bears 0.9536 levels.

A hisah pointed out USD/CHF 0.8500 resistance level has held, tempting me to go long on EUR/CHF and USD CHF but with all the Eurozone CDS issue, il just hold back.

Jumping to the kiwi seems like the bulls are exhausted and its crosses are retreating to consolidation. Ill be looking for short opportunities.
“small step for man”
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QW25071985
#977 Posted : Wednesday, June 01, 2011 9:27:55 AM
Rank: Veteran

Joined: 3/25/2011
Posts: 946
well...today a long aud/usd..i have noticed a falling wedge on 4 hr. look here

http://www.actionforex.c.../forexcom/2011060112.gif
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Ceinz
#978 Posted : Wednesday, June 01, 2011 11:55:12 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Cable bulls have been shattered by bad numbers. GBP/USD 1.6400 resistance holding. A break below this will target 1.6300 initially, then 1.6175.
My EUR/GBP long trade still on.
“small step for man”
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QW25071985
#979 Posted : Wednesday, June 01, 2011 12:01:26 PM
Rank: Veteran

Joined: 3/25/2011
Posts: 946
the trading style now is to buy in dips..i feel risk is back on the table..
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hisah
#980 Posted : Wednesday, June 01, 2011 2:33:08 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Trade update - Long USDCHF size 0.1 order triggered. Since this is a risky trade, I'm tightening the SL to 0.8380, TP - TBA. But long term aim is above 0.8950.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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