Wazua
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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With EUR short contracts around 150K, a potential short squeeze is on the cards for this one sided trade. Shorting the euro is risky at this level...
As for gold, back in 2008/9 it did something like this. In late 2011 it also did the same... Guess where it is headed...
https://images.angelpub..../12415/wgc_goldprice.png
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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D-Day for usd/cad .which way up or down. Daily chart below !
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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WATCH LIST:
LONGS: GOLD, AUDUSD
SHORTS; EURJPY, EURUSD, GBPUSD, USDTRY, GBPCHF
Waiting confirmations on: gold, audusd, eurjpy, eurusd, gu
USDTRY, GBPCHF Running Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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wow / ! who got some pips today ??? i need your strategy ...ASAP. today its been very violent
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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fxtech wrote:WATCH LIST:
LONGS: GOLD, AUDUSD
SHORTS; EURJPY, EURUSD, GBPUSD, USDTRY, GBPCHF
Waiting confirmations on: gold, audusd, eurjpy, eurusd, gu
USDTRY, GBPCHF Running
i see a problem here . you cannot long aud/usd and short euro ...
they are collerated
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@QW If my charts are correct, which I bet they are, in DEC AUDUSD was very bullish from around 20th, and EUR very veeeeeery bearish. I stand corrected. So for Me I just follow the price, correlated or not. Again my posts are on observations and as per nw only USDTRY, GBPCHF Shorts, GOLD Long, are running, the others on observation so things might change, so as usual I wl trade with the price. Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@QW MORE FACTS ON TABLE BELOW
Daily correlation
AUDUSD EURAUD EURCAD EURJPY EURUSD GBPUSD
AUDUSD 100.0 -50.0 -15.9 38.6 38.0 64.2 AUDUSD
EURAUD -50.0 100.0 89.2 56.8 61.1 23.2 EURAUD
EURCAD -15.9 89.2 100.0 78.4 80.7 54.9 EURCAD
EURJPY 38.6 56.8 78.4 100.0 96.2 86.5 EURJPY
EURUSD 38.0 61.1 80.7 96.2 100.0 83.8 EURUSD
GBPUSD 64.2 23.2 54.9 86.5 83.8 100.0 GBPUSD
AUDUSD EURAUD EURCAD EURJPY EURUSD GBPUSD
Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Short squeeze on the euro continues... @fxtech - Note that EURAUD is turning bullish on the weekly with a hammer candlestick. Still not bullish for the month, but when it does, it will be time to sell the aussie. I have also noticed monthly RSI divergence on EURAUD cross. The price is heading south but RSI is registering high lows in oversold levels. Sharp corner ahead i.e. long EURAUD squeeze coming soon - but this is a medium term trade.
@QW - USDCAD has broken down the daily triangle. Will be sold for some weeks.
Gold has to overcome $1667 to clear resistance. I want it to clear this level then go long on the retrace if it leaks back to $1650 - 1660 levels.
Still waiting for the monthly and weeklies to line up before I take my trades highlighted earlier. This look poised to be end of month or 1st week of Feb. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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this should be intresting for all you euro bulls ....Bulls in charge
Also, from the past 1.5 years, every time we have seen daliy divergence on MACD, we have seen a substantial rally.
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@Hisah nice insight on EURAUD, sure, slowly turning bull, will keep an eye, Discipline & sticking to your strategy even when you loosing defines great traders.
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Wazua
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