EURUSD shorting opportunity on Slovakia vote?

MajorDutch · Oct 11, 2011

So the damn Slovak's have voted against this EFSF ting? I am looking at my hourly chart and looking to see if there could be a possible shorting opportunity off the 9pm bar. Will get a chart up.

Anyone else have any thoughts on this, surely this vote result should take a bit of shine of the Euro.

What you saying?

MajorDutch · Oct 11, 2011

chart

glyder · Oct 11, 2011

The euro has remarkable almost magical powers considering its strength in the state its in.
I'll vote for a crash any time though.

MajorDutch · Oct 11, 2011

so switching to the 5min chart looking for a potential entry, looking for a nice rejection candle after a retest following a break of the recent low. the first trouble area is a little close so stop will have to go to break even pretty quick. there is scope for 3:1 if we keep the stop tight before reaching the second trouble area.

Doomberg · Oct 11, 2011

Just shorted

Not traded much recent as i have new had work commitments but done the odd one

Hows everyone doing anyway? And anyone been trading silver?

I wish i had more time in the day so i could be doing my day trading

MajorDutch · Oct 12, 2011

Doomberg said:
Just shorted

Not traded much recent as i have new had work commitments but done the odd one

Hows everyone doing anyway? And anyone been trading silver?

I wish i had more time in the day so i could be doing my day trading

cool. I am not going to short until this recent low is broken and retested. The trouble is it could be along wait, could be 20 mins from now, 2 hours from now or it may not happen.

Doomberg · Oct 12, 2011

Do you mean the low at 34? My open was 44

And yes its moving slow as hell right now, luckily i got some work to do so will be up for a bit

wackypete2 · Oct 12, 2011

I'm not taking a swing position. Be careful, there will be another vote after the new government is installed. The political risks in Europe are too high right now.

Peter

MajorDutch · Oct 12, 2011

Doomberg said:
Do you mean the low at 34? My open was 44

And yes its moving slow as hell right now, luckily i got some work to do so will be up for a bit

bottom of 9pm (london) hourly bar = 1.3633 on my feed. it normally moves this slow at this time of day.

MajorDutch · Oct 12, 2011

bullish bias change on 5m chart.

MajorDutch · Oct 12, 2011

price has broken out now on my feed, waiting for a retest and a decent rejection candle.

Doomberg · Oct 12, 2011

You in Dutch? I just seen 32

MajorDutch · Oct 12, 2011

Doomberg said:
You in Dutch? I just seen 32

nope, u havn't read the thread! price went below the low and formed a bullish pin. Price did move below the low but there was no convincing close below, now that pin has formed I will not look to get short until the price moves below the 5m pin and then retests again. imo entering on a break is futile as price will nearly always retrace, that's when i like to enter.

Doomberg · Oct 12, 2011

Fair enough, i'm happy with the way this is looking and may have this as a longer than usual position (i need sleep lol)

My stop is bigger than normal at 94 which makes it a 50 point stop, the double top on 1hr looks convincing but we'll see.

MajorDutch · Oct 12, 2011

Doomberg said:
Fair enough, i'm happy with the way this is looking and may have this as a longer than usual position (i need sleep lol)

My stop is bigger than normal at 94 which makes it a 50 point stop, the double top on 1hr looks convincing but we'll see.

yeah sleep would be good at this stage! price has clearly broken. When I eventually get in I will probably be looking at a 15pip stop with 45pip take profit moving stop to break even when +10 pips.

MajorDutch · Oct 12, 2011

very sharp break switching to 1minute chart to get entry

Doomberg · Oct 12, 2011

MajorDutch said:
yeah sleep would be good at this stage! price has clearly broken. When I eventually get in I will probably be looking at a 15pip stop with 45pip take profit moving stop to break even when +10 pips.

Yeah i'm happy now the price is broken, was a matter of time - if i was following my full rules i'd of waited for 30 too and not 44 but looking at different time frames it seemed like a good entry, does no one thing this one may be good for 100-200 pips?

MajorDutch · Oct 12, 2011

Doomberg said:
Yeah i'm happy now the price is broken, was a matter of time - if i was following my full rules i'd of waited for 30 too and not 44 but looking at different time frames it seemed like a good entry, does no one thing this one may be good for 100-200 pips?

well i think you are fine down to 1.3580 this is where you hit a trouble zone. Personally I would set stop to break even and go for a huge cricket score. surely you are going to move your stop to b/e now?

MajorDutch · Oct 12, 2011

i am short now. tight stop.

MajorDutch · Oct 12, 2011

entry chart

EURUSD shorting opportunity on Slovakia vote?

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