I have a short set up on the JY futures at .8618. T1 = .8584 T2 = .8557 area Please use your judgement. It is definitely a high risk. It is a trade I would always take. Use a stop. The cash trade is long at 117.42 T1= .1787 T2= .1803-1808
Great thread today, everyone! It's good to see you, DRT, back at the helm. The cruise must have agreed with you, as you seem re-energized with posts a'blazin :>) Congrats to BLR for grabbin a fistful off the table today. Very nicely done! And no doubt the opportunity to get long again will avail itself at a lower price, should your strategy call for such action. Keep up the great work, guys - I'm all ears here... Trade well ... tbone
Well there wasn't much action either in the Asian or London sessions. I am not long the Euro but expect to be today. This is my take on the how the market looks. As usual please jump in if you think my take is wrong or, I've been dipping into too much prescription medicine again. As usual all comments are based on the cash chart. The intermediate term outlook for the dollar is now down I think and the slide has already begun although still in its very early stages. Given this mornings chart it is apparent that the Euro is struggling to break through the 12030 to 12050 area before we see what I believe to be a quick run-up to the 12092 level. My view on an entry has changed a little. Long on a trade above 12050 Move stop to break even on a trade above 12085 Expect a break of 12092 and then shortly thereafter: 12175 My view changes if we see 1.1995 or lower. I look forward to any comments you may have. Good luck today
NY Empire State Index: Actual 31.2, consensus 19.0, prior 21.0 (revised from 20.3) Bit of surprise higher but I don't think this number will have much impact on the dollar except for the slight bounce we saw on its release. Big numbers are out later in the week. Net Foreign Purchases out at 9 am. Everyone is probably already is aware of this site but... for economic releases I have found Briefing.com to be helpful. Click on Economic Calendar to see a list of upcoming reports. Clicking on the name of each report will provide an idea of how important it is to the market, rated from A through D.
I am long at 12053 on a cash basis. Target to raise stop 12085 to break even. Initial target 12092 then 12175 Good luck to everyone.
Be careful today. I am still short. There is a lot of emotion generating movement today. Also the ever present market manipulation that I am always amazed when I see. I think the EURO is headed way down.
Thank you DRT: I have the ever present stop in place and willing to change my view at the first sign of passing bear raiding party. As always I appreciate your views. Best of luck.
I forgot to mention that I think it is going down.....just no idea when. May June, July Stop Loss set at 900 ticks