Hope you didn't fold in the dip around asian markets open. I think the asian markets have shown a lot of feisty buying of ⬠lately, so it's worth a try. We could see more 1.2700-toggling though before a good move builds. edit: those clever guys at Thomson went flat at 1.2685 .. the way down from 1.28 ...
Now those guys at Thomson went short at 1.2720 ... They admit a tight stop of 1.2750 but a whopping target of 1.2620. I think they got a little careless with this one, perhaps by the success of the other. Considering the numbers and upcoming events mentioned earlier it's highly uncertain what could happen - although I still think that a bounce towards 1.28 would affirm the â¬'s rice greatly, whereas a dip further down not would be very significant to markets mid-term ... unless a sharp break down like mentioned before. I still think the risk is for upwards move, and Thomson cites highly oversold indicators. It's that freaking 38.2% retracement of the recent move again that is their target.
I did pull my stop down to 1.2671 right before the slip below 1.2690! Lucky me... Are you still in? Edit: Did you have any IB problems today? I had blank quotes and my native GLOBEX exit stop limit order didn't work for the first time!
Yes, I'm still playing the long-shot. I had no IB problems today or any day recently. I saw there was problems with a Hong-Kong server, but I don't know if they have any backoffice upgrading underway as well - since so many reports of problems are surfacing. I have a quite wide stop, but I will re-evaluate if I'm awake and something seems amiss. The mid 1.27s is a very realistic target in my view - not a table-grabber like the 1.2620 target of Thomson. I'm not that good at position trading. edit: (post# yes, but I guess I have written *A LOT* lately since you have a year's more registration time than me) =) [remembering on other stock-trading-sites how I would be rewarded for writing good posts; what's up with that, Baron ? *hint,hint*]
I moved my stop to little bit over 1.2700 but I'll monitor it until an hour after the European open. I'll trail it as usual. Edit: We almost have same # of posts
Is it just me, or have things finally started to pick up again? For the past few months, it seemed that there would rarely be any significant movement outside of the European/U.S. trading hours; lately, it seems there's been a lot of movement in the Asian session as well.
I guess I should have been stopped out, but I didn't wake up early enough. Instead I see a nice profit ... albeit only for a few contracts. Oh, well - just goes to show what a bad position trader I am - not using hard stops. Thomson was stopped out at 1.2750 - too bad they didn't get to 1.2620 .. only a few pips away, but they had a tight stop and already made around 100 pips on the previous trade they did. Thomson presents a few seemingly politically tainted comments about ⬠earlier, so I think some of the comments may be taken with larger grains of salt for a period. edit: I just went flat on 1.2750 too. It might be stops-running. Nothing learned from this "position trade" though - well, maybe have hard stops ... or maybe my own style of scalping suits the markets better for now ? (IB also seemed to have some data dissemination problems, so have to be extra careful .. it's all working though)
Just did a quick 6 ticks short as well, it seems to be stalling for a little around this perceived resistance-level, although it has gone through various stops here. Hmm, it extended a few ticks further down for some chopping stop-run it seems. This further enforces my view of stalling around this level for a little while. Markets need to figure out if the ECB will support even stronger ⬠from this level, and what impact the Chinese announced rate hike will have on the USD.