sperksy: This looks like a good position. For anyone who is long the Eruo, you may want to consider taking yourself out or, putting in a very tight stop once the 12180 level is reached. There may be a sharp correction or at least, a consolidation. Best regards
DRT How are you doing? What do you think about liquidating you current position, waiting for the reaction near the 12173/80 level (or sooner) and going long looking for 12300. I think you are right on the longer term view of the Euro once this correction is over. 1.1600 level is an intermediate target often discussed, with the weekly chart bottoming out near 1.1000. My longer term downside goal. Maybe its time to climb out of the cement mixer. Very best of luck.
I have closed out my positions for now at 12158 (cash basis) . I have to be away from the screen for the rest of the day tending to my day job. Can't seem to keep ahead of the paperwork. Looks like the upside today may be limited, famous last words. Appears to be overbought in here. I will reassess after a break, probably tonight I think. Overall, the 12300 level is now definitely in focus. I would appreciate anyone else's opinion on where they think we might be right now. Good luck to everyone
OOOUCCCCCCCCHHHHH!!!!!! Once my methodology tells me to get out I will exit. Not yet though. Besides gives everyone someting to talk about. I guess the US is going to roll over and die. We are such a weak economy and all. And with all the good news coming out of Europe on their economy it certainly makes perfect sense to me. Please visit me in the poor house.
I really admire a man who can retain a sense of humor in the face of adversity. Hang tough, DRT! Provided you have remained within your MM parameters and not allowed emotion to commandeer the trade, I wouldn't bet against ya! I've already watched you take a trade from -200 to over +100, so all I can say is "May the force be with you!" All the best ... tbone P.S. What were those visiting hours again? (just kiddin!)
I am going to be away thru the rest of the week. I am still short for now but getting very close to becoming a Euro bull convert. THe USDJPY and the Bonds are at major inflection points according to my studies and the Euro has hit a major point also. If these current levels are viloated to any meaningful degree I am going to close out my long term trade tommorrow. I will try to let you know if I do. Hopefully you guys can keep things going while I am gone. Looks like I need about a 300 point move south tommorrow to help my position out. Take care DRT