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Realities of Forex Investment
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dave.kim
#1251 Posted : Tuesday, September 06, 2011 2:11:31 PM
Rank: Member

Joined: 6/25/2010
Posts: 176
i caught 178 pips.anyone else profit from that rally?
Rule No.1 is never lose money. Rule No.2 is never forget rule number one
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QW25081985
#1252 Posted : Tuesday, September 06, 2011 2:21:29 PM
Rank: User

Joined: 8/29/2011
Posts: 1,045
Location: Mtaani
the easiest trade right now is to buy eur/chf and put a stop at below 1.2000 , lol
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hisah
#1253 Posted : Tuesday, September 06, 2011 2:55:15 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
EURCHF up 1big figure for the day as well as GBPCHF!!!

Almost all swissie cross up 9% for the day.

As you are aware SNB has decided to do what I have been expecting them to do since last month. They've brought on the battle field a tomahawk launcher after spending all their bazooka ammo... CHF bulls time to run away. CHF longs will get a huge squeeze here.

Will their resolve to hold EURCHF above 1.20 sustain before the end of the year? SNB has had a number of bazooka CHF shots since 2009, there was 1.50 then 1.30 and now 1.20... The former two floors were emphatically broken down by Mr. Market. So will 1.20 survive.

For now, CHF carry trade is confirmed. AUD, NZD, GBP will be most profitable as the excessive months of overselling gets reset.

Gold bulls - caution!

Happy trading...

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Tuesday, September 06, 2011 4:04 PM | Reason: Not specified
Cde Monomotapa
#1254 Posted : Tuesday, September 06, 2011 3:57:42 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Let some of these guys buy up the KES as we have real economic projects going on here Laughing out loudly we'll even raise the CBR mid-September 50-100 basis pts. to spice it up Laughing out loudly
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  | | Edit by user: Tuesday, September 06, 2011 3:59 PM | Reason: Not specified
hisah
#1255 Posted : Tuesday, September 06, 2011 4:01:10 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
@Cde- our CBR is already higher than the G10 currencies interest rates!?

Btw with the USDCHF having tested 0.8550, this now opens up the possibility of turning this cross bullish for months to come aiming 0.9300 before parity is tested.

I'm snooping on AUDCHF, NZDCHF, GBPCHF and CADCHF to see how to play them in coming months.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Cde Monomotapa
#1256 Posted : Tuesday, September 06, 2011 4:06:48 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
All the best boss as I bet that a sudden realization is on its way, slowly but fast, that SSA is less riskier (by far) than the West & the East (net-exporters) as well. Laughing out loudly
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hisah
#1257 Posted : Tuesday, September 06, 2011 6:51:22 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
EURUSD - below 1.4050... The triangle has broken and it has test a low of 1.3970. If it closes below 1.3940 today, downside risks will be confirmed...

With SNB putting the ante up and shouting to all the EURCHF cross bears that a "DNT - don't touch - floor will be maintained at 1.20, at least if EMU goes kaboom with defaults, one can sell those crappy euros to SNB...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#1258 Posted : Wednesday, September 07, 2011 7:28:04 PM
Rank: Veteran

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

Gold bulls - caution!



Thanks for the warning. Xau back to $1800. Lets wait and see whether it will find support here, or go down to $1700. You had earlier on hinted on $1500 to $1600, but I think these are unlikely.

Happy trading.
“small step for man”
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hisah
#1259 Posted : Wednesday, September 07, 2011 9:05:09 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Ceinz wrote:
hisah wrote:

Gold bulls - caution!



Thanks for the warning. Xau back to $1800. Lets wait and see whether it will find support here, or go down to $1700. You had earlier on hinted on $1500 to $1600, but I think these are unlikely.

Happy trading.

On the daily chart, I think the 1920 zone confirms a double top.
The weekly chart is forming a dark cloud candlestick formation - bearish signal. Interesting to note on the monthly chart that the monthly candlestick is forming a gravestone pattern. Eh, if confirmed by end of month, time to sell gold for some weeks...?!

But I still expect this thing to top above $2000 due to the debt storms still lurking around esp from November onwards...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#1260 Posted : Wednesday, September 07, 2011 9:37:29 PM
Rank: Veteran

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


On the daily chart, I think the 1920 zone confirms a double top.
The weekly chart is forming a dark cloud candlestick formation - bearish signal. Interesting to note on the monthly chart that the monthly candlestick is forming a gravestone pattern. Eh, if confirmed by end of month, time to sell gold for some weeks...?!

But I still expect this thing to top above $2000 due to the debt storms still lurking around esp from November onwards...


Insightful. Gratias.
“small step for man”
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  | | Edit by user: Wednesday, September 07, 2011 9:41 PM | Reason: Not specified
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