Discussion in 'Forex Trading' started by a529612, Nov 1, 2007.
Looking to go long and play bounce. Any thoughts? Thanks!
how you wish it my friend
how you wish it
It's getting more oversold but IMO not quite there yet.
I am looking for a significant bounce around 1.50, give or take 2-3 points. So I'm going to start buying Euro puts once it hits 1.47-48, scale in up to 1.52 if necessary, then see how it goes.
I agree with OP.
AUSSIE and CAD futures ripe for shorting overnight TONIGHT, with 200 ticks likely in first, 300 or more in CAD (down to 1.02 prior to DEC expiry). 65 tick stop for first, 100 for CAD. No knife juggling required at payrolls in the a.m. Equity to be had shorting tonight, i.e. well ahead of payrolls, will build enough cushion by daylight.
For entertainment purposes only: don't try this at home.
NFP came in at almost double expectations, the fed did cut, but the statement was clearly hawkish. I expect a dollar rally soon and venture this is a good greenback buying opp.
whats oversold territory? can you even determine it in currencies? fundamentals haven't changed. commodities going up, interest rates dropping, if inflation ticks up...ouch.
might be able to grab a small bounce.
When will it hit 1.5?
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