Weekly Thread: Sep. 1 - 5

Hey Rezo

Someone mentioned fading a breakout...what is meant by that...I have never heard that expression before

Ryan

 

I think he ment : never trade hoping current trend will reverse. Trade the trend. And I agree 100%

 

Swissy stopped as well. Not the best begining of the month....
- 8.75%
For now I will still look to reenter last 2 trades and add usdjpy as mentioned before...but if today we wont get bounce back upside, its a signal to turn back bullish on USD. Will see.

 

bought euro 10863, sold usdchf@14136, sold usdjpy@117.00

 

euro:

stop 1.0785 (78 pips / 3.12%)
tgt same 1.1120 (257 / 10.28%)

usdyen:

stop @117.65 (65 pps / 2.21%)
tgt 115.45 (155 pps / 5.37%)


usdchf:

stop @ 1.4235 (99 pps/2.78%)
tgt @ 1.3750 (386 pps/11.23%)

 

50 pips, so lets take that stop loss on usdjpy to breakeven...

 

interesting moves around 10 am on EUR/USD. MM's must be happy clearing up stops

 

Short covering I would guess. Strange as numbers out of the US seemed healthy.

 

Well, stopped once again on both usdchf and eurusd.
This was too fast and too much. Currently down 14.56% in
Sep...Most probably becoming bullish on usd again just as posted
yesterday. No rush now - maybe swissy is heading towards
+1.44 - last month target, and euro towards 1.0550. Will see.
Today we may get a retracement upside after such an agressive
seloff, and may as well see the continuation of downside
pressure. Anyway I will not be watching market closely today and
will return closer to mid-end of US session...have some thinking
to do ! Still holding to usdjpy position.

Have Good Trading ,

Rezo

 

You guys, please keep one eye on dollar, interest rates, gold and the S&P. Read about Eurodollars. Play with longer term charts. Everything is connected. Watch. Big break for the next month coming.