Come on, Saham, just don't start a fire here. Let Rezo does what he used to do. As always, winning and losing are part of the business here. Glad to have you posted again, Rezo. Haven't seen you post for quite a while. Good luck! P.S. too bad elitetrader can't display images directly (JPG and GIF).
Hi Andre. How are you?! ok, the entry order was activated and we are short GBP at 1.8120. As I am typing ptice is at 1.8088/92. Been as low as 1.8080 - thats almost the 30 pips stop loss, so I have just moved the stop loss to entry level.
Hello fellow traders. Lets take a look at the Euro. The question right now is whether we already have or have not hit the bottom. Many see 1.19 and the low slightly below (the 1.1860/70) that was hit last week as a possible bottom. I tend to agree with that partially but still with a great caution. I posted short time ago about the importance of the 1.1850 area, and indeed we saw strong buying coming from areas below 1.1900. BUT if we look at the weekly chart we see that almost every week after the retest of 1.29 all time high, we got new lows each candle. Now lets ask the same question - whether or not did we hit the bottom yet. I wouldnt be very sure. Yes, indeed the 1.1850 was and is a strong support and we couldn't expect it to be easily broken, but if we do break it, 1.15 becomes very well exposed. Same support line that I was posting from late march is still in place and despite being sluggish, move south is there. Yes, indeed each time we touch it we bounce back, but that is due to market still being afraid to sell Euro with confident, but we cannot ignore that we moved 1000 pips from the 1.29 high in 2 months. To sum up, I say we are moving slowly, but still down for now and if market will not form a good bottom right here at 1.19, we may see 1.15 maybe even sooner that we think. For now I do not trade this pair. Maybe later during the week. I will post. Currently I have an open position on USDCAD, but since I only posted comments on that pair and didn't make a call on that trade, I will not be talking about it. Have a great trading week, Rezo
Just sold Euro at 1.1962 with 50 pips stop and 100 pips as initial target (maybe close half position there).
We got hour candle close below the 1.1970 where the trend line is stading at. This may trigger further selloff.
Ok, so far we have been as low as 1.1919. Thats over 40 pips in our favor. Have moved the stop loss to entry point.