EUR/CAD Short Play....look good long term?

Discussion in 'Forex Trading' started by AMT4SWA, Aug 9, 2008.

  1. I am short the EUR/CAD from the 1.6180 level on the 7th of August. I would like opinions from all you Forex masters as to the thought of the current EUR/CAD lack of ability to breakout above the 1.6200 to 1.6300 price levels....does this look like a good longer term short play to you?

    The pip spread on this trade felt like a Colonoscopy gone bad, but the price formation looked too good to pass up.....looks like a failed breakout formation potential to me.....I do not know jack about this pair but I went for it based upon my signals and the current price pattern.

    It appears to me if I can get a break of the 1.5270 to 1.5200 zone this could get some legs and run....what say you?
  2. I think that you missed the first big down move in EUR, if you did not sell EUR/USD in the 1.60 area or EUR/JPY in the 1.7000 area.

    I recommended to the currency subscribers of my blog to take a good part of their position off wiith close to 1000 PIPS on EUR/USD and 400 pips on EUR/JPY (check my blog for where we shorted EUR/USD and also EUR/JPY).

    Now I think you should prepared for longer holding periods, and the pair that would allow you to hold and earn while holding is:


    I just informed my readers to short it in the 1.7020 area, and to short it if it revisits that level or a bit higher (1.7050).

    Note: The cost of carry is positive for shorting EUR/AUD.
  3. Already have that trade covered.....I am still short the EUR/USD from 1.5920 and up as mentioned in other threads here at ET.
  4. That is great! Congrats! I do not think you need any advice then, except what i wrote about EUR/AUD, and not to fall for the corrosion trap described in my next post.
  5. There is a trade I missed because of some idiots in here putting doubts in my head about TRY.

    I could have made a killing on that pair, and earned tons of interest. If you search it on the threads, you would find that I was writin that it is a great trade, but then some people put all sort of doubts in my head, and I made only 400 pips or so on a tiny position.

    I could have made more than 1400 pips, and earned 4 pips a day just for holding it. That is another 700 in 6 months.

    Put the leverage in, and you would see how lucrative it would have been.

    I deserve it for corroding my mind with negative worth material. Now when I write something and the majority jump on me, I go and start scaling. I wish I had more capital in my hands now, as my view on the markets is expanding exactly as I envisioned it.
  6. Stop advertising your blog here, RFT. Not going to ask you again, mate. I removed the links.
  7. For the record, I want the readers to know that Ivanovich has removed links about the above post.

    In addition that person's views can be harmful as they to me on a USD/TRY and it is in the record here on ET.

    He is also running around here on ET cherry picking.

    If there is a policy against links, apply it across the board, and do not cherry pick.
  8. It is applied across the board. You're just pissy because you have a hard time following the rules. Don't like my moderating? Complain in the feedback section. That is your right. Apart from that, follow the rules.
  9. While you guys were fighting (JK...LOL) I just caught a nice little gap down open......covered a part of my position that I will put back on anywhere above the 1.6025 level when I get another sell signal. My covers were at 1.5935/1.5936/1.5937 ....nice way to start off Sunday trading! :)
  10. I was able to take additional covers at 1.5180 on Friday, so this trade is looking real good with the area of support I was watching longer term busted far so good.
    #10     Sep 6, 2008