For every buyer there is seller. For every seller there is a buyer. The number of contracts are always equal ; ) Good trading <*)))><
is anyone who is short worried about a violent spike up? I would be nervous holding over the weekend since it seems to be the biggest short going right now and i don't even know who is buying right now.
People are going to to start closing short postions to lockin profits. that's going to create some buying momentum and shakeout some late shorts and then the cycle will most likely repeat. You can already see this if you look at how the eur/usd traded after hitting the new lows today.
Already at 195 pips hi to low today. Well beyond the average range. A pull back is more probable than a much further move down.
so what level of a pull back do people expect? I wonder when a similar type of problem will show up in the USA as a result of various states. I think i would prefer to own euros though since they seem much less likely to be printed just to pay off government debts as opposed to the united states where it could be kept much more out of the media. In the Euro it would be big news for a nation to leave the currency to create their own to pay off debts.
I'm looking for 50% retracement of todays hight to low around 1.3100 evel. after such a strong downmove price may not have the energy to reach 50% level so I'll also be looking at the .382 too. I'm also looking for Sunday high to todays low as a level since that is the origin of this latest downmove http://screencast.com/t/Njg3NTA1MDgt
The downward stength of EUR/USD was very strong. Those who are short might be okay to take profits here, but I would strongly advise those on this forum not to buy euros right now, regardless of what your fundemental or tech analysis tells you. Looks like a falling knife. Good luck.
resumed short position not looking for retracement at this time. Falling knife indeed, I'm missing a finger LOL
Its like a dead dog thats starting to bloat....pretty soon spain, portugal, italy, and maybe france are gonna have issues too.... I shorted USD/CHF last night, I wasnt to happy when I woke up this morning