Monthly Thread: December, 03

Discussion in 'Forex' started by rezo_s, Dec 1, 2003.

  1. rezo_s


    Hello everyone,

    I think we are going to see further USD weakness soon. I am holding 2 short positions on USD, and may add some more - maybe today. Sentiment is pretty obvious on the market, and that is not so often when we have a definate movement. We should all try to benefit from this situation. Entries are very important as always, so lets try to catch some good moved out there.
    I will be addig most probably short on USDCHF (both for longer term position and 60 pip profit) and maybe long on EURO for 50 pips. I am holding long on Euro, so there will be only short term 50 pips trade on that one if at all.

    I would like to say for all those interested, that performance page for November was updated both on Moneytec post and on the website; You are welcome to browse.

    I will post once/if I enter any trade.

    I want to wish for you all, this day, week, month and Year to be very profitable :)


  2. rezo_s


    Little commentary on what happened.

    Euro retraced as low as 1.1935, swissy as high as 1.3015, cable steady around 1.7200;

    Currently euro = 1.1970, swissy @1.2980...

    Retracement - not bad for a further move. Euro didnt hold above 1.20? Bad sign? I still think it is has potential to go much above 1.20, but of course time will show.
    We have crossed 1.20 point up and down multiple times on friday and today, which shows that 1.20 is not a key level anymore. At least it is not a phsycological level - it lost most of its phsycological value after it is being crossed up and down so many times. But it is still a level, noone can argue with that.

    I am still looking to long Swissy (sell USDCHF). Will post once/if I enter.
    Here is a channel on EURO - 240 min is more important, but 60 min channel bottom was broken (red line), triggering the dive to 1.1935.

    Good Luck!
  3. rezo_s


    sell USDCHF now @1.2965
  4. rezo_s


    half position will be for 60 pip target with 40 stop

    another half is for longer term with:


  5. rezo_s


    Good Morning Everybody,

    The short term swissy was stopped : -40 pips

    May reenter later, will see.
  6. rezo_s


    Resell USDCHF @current 1.2992

    same 60 pips target and 40 stop, moving stop to entry after +25 and lock 10 after 40 pip move in favor
  7. rezo_s


    Well, while I was saving an image to show you that line was broken which should trigger further move south on USDCHF, short term trade almost hit its target of 60 pips.
    Still holding the longer term short @1.6965, moved stop to breakeven now on that one.
  8. rezo_s


    And here we go. Target hit, +60 pips.

    Longer term trade also looks promising with euro hitting new highs. Anywyas, stop is at entry point now.

  9. rezo_s


    I was asked on other forum about euro now - after a break of 1.20, so I will post here as well in case someone is interested:

    there are good indications this move to keep running, especially now, when we broke at a very critical moment.

    We can see that trend angle 2) is bigger than it was on the previous one 1) - good sign for bulls;
    And another point (3) ) - we broke upside, not quiet a well formed pattern, but it is still indication of a break, which it no doubt is. In case we hold the break and dont get back below that line which as we see is standing exactly at 1.20 !! area, I think it is a sign of further appriciation.

    Good Trading Everybody,

  10. 4xis2ez


    Good trading in Nov. Rezo:)
    I likewise had an 11% gain for the month on 2 trades. I think your adding shorter term trades to your mix will do well for you. You had too many trades move to profit, only to come back for breakeven. I hope things go well for you. Regards, Russell.
    #10     Dec 2, 2003