Hi All, We broker the 1.1850, but we are now in the last stage of what is keeping the Euro. The last thing left now is the same old supporting trend line. It is currently around 1.1820, and thats where we got the support today. If we see sustained break below that level, it should trigger further selloff. I think first level is 1.1750, and afterwards its all the way to 1.1550-1.1600.
I have just revcently reentered the short on the bounce, but I didnt enter so close to high. I needed confirmation and in such a volatile market its not easy to enter close to piks. But I prefer it that way. I never "jump" into the market, so untill couple of bars closed price was well below the high. Anyway, stop is already at entry point, so not risking anything else anymore. Good Luck!
Nice calls on the Euro and USDGBP this month. Also impressed with your stamina in staying with these multi-day trades! Thanks for posting.
Hi All, Euro closed near the 50% retracement of the 1.08-1.29 move but since it was crossed back and forth during the last three trading days of the previous week, I consider it not to be a level anymore but something that market feels conformable with. Even 1.1780 has become more serious level than that as a support. At the moment I have 2 recommendations. One if for sure and second needs to be confirmed, and therefore its not a recommendation, but something I may trade. We have the same support line which is currently around 1.18 and I suggest selling with order at 1.1790 with tight 30 pips stop loss and moving stop to entry point after 30 pips; i.e. once/if we reach 1.1760. First support may come from 1.1750 but is shouldn't be a problem after a break of this line which as we see is with us along the way. Target is 1.1600, probably 1.1550 - near the 61.8% retracement of same 1.08 - 1.29 move.
The second strategy I would suggest is selling from the possible minor top that may occur near the 1.1900 level with 30 pips stop loss and same target. Move stop to entry level after 30 pips move. Market is very volatile lately and therefore we should be cautious. This trade requires a confirmation, and therefore don't take it as a recommendation yet. I will try to post once/if I enter at that level if we see it. Good Trading everyone, Rezo
seems like market is tryint to start selling Euros right from the start, but lets see how it goest later on the week. My entry order is in place at 1.1790 with 30 pips stop loss and initial target at 1.1600 Good Luck!
Early market here is showing dollar strength. Friday, after believing that we would see some USD strength after Greenspan speaking about the growing??? economy (in addition to the bounce we saw after retracting to 1840 levels, what I believed to be a selling opportunity) I went short EUR/USD at 1826, first initiating a SL of 1856. I have since moved the SL to 1816 and will if movement continues downward I will drop the SL. We are currently at 1.1793/7 and if the price remains under 18, I think we will continue to see dollar appreciation. NYCDT
Morning. well, I see euro dived to 1.1760 - new year low, entry order was triggered but I wasnt here to move the stop to entry level. At the moment its trading at 92/96 and I will give it a chance to develop. If it fails to break lower, it will be a bad sign. I am also holding short Aussie at 7290 with stop at 7350. Its currently trading at 7296/01. Target iseen at 7170 (50% of 6300 - 8000 move) Good Luck! Rezo