Monthly Thread: April 2004

[rezo_s]

Just sold Euro at 1.1962 with 50 pips stop and 100 pips as initial target (maybe close half position there).

 

[rezo_s]

Ok, so far we have been as low as 1.1919. Thats over 40 pips in our favor. Have moved the stop loss to entry point.

 

[skipperharris]

Very interesting Buk and yes you are probably right :cheesy: It is very difficult to predict precise trends as everything can change so quickly at the slightest good/bad news reports and as we all know cable/Euro are so sensitive with large swings sometimes on a daily basis. I try to gather as much info as possible each day purely on fundamental analysis to make LONGTERM trades. My latest information is very interesting and implies dollar WEAKNESS for the next cycle. Some strong UK manufacturing news is expected soon which should finally confirm BOE increasing UK interest rates in May. This will be very POSITIVE for the £ as foreign investors will be enticed to buy UK assets. Also it is now not so apparent that the US will increase their interest rates as early as the forcasters were saying(JUNE) and maybe they will delay until AUGUST which will have a NEGATIVE impact on the dollar. All will be clearer tomorrow at 7pm UK time when Greenspan will make his views clearer. So watch carefully :!:
I do appreciate that this is pure speculation and will probably turn out to be complete "hogwash" but this is MY way of trading and as long as i can make some profit like the next person, that's what counts. Time will tell For info i am in a LONG posn on cable from 1.7980 which i have noted as a key support level for the £.
Good luck all
Skip

 

[rezo_s]

Hi Skip.

Cable is always the wild one.

Good Luck!

 

[rezo_s]

position: short [email protected]

current price 1.1885
moved stop to 1.1942, lock 20 pips

 

[rezo_s]

took profit on half of the position right now at 1.1907

 

[rezo_s]

EURUSD

Hi All,

We broker the 1.1850, but we are now in the last stage of what is keeping the Euro. The last thing left now is the same old supporting trend line. It is currently around 1.1820, and thats where we got the support today. If we see sustained break below that level, it should trigger further selloff. I think first level is 1.1750, and afterwards its all the way to 1.1550-1.1600.

 

[rezo_s]

Hi All,

Euro closed near the 50% retracement of the 1.08-1.29 move but since it was crossed back and forth during the last three trading days of the previous week, I consider it not to be a level anymore but something that market feels conformable with.
Even 1.1780 has become more serious level than that as a support.
At the moment I have 2 recommendations. One if for sure and second needs to be confirmed, and therefore its not a recommendation, but something I may trade.
We have the same support line which is currently around 1.18 and I suggest selling with order at 1.1790 with tight 30 pips stop loss and moving stop to entry point after 30 pips; i.e. once/if we reach 1.1760.
First support may come from 1.1750 but is shouldn't be a problem after a break of this line which as we see is with us along the way. Target is 1.1600, probably 1.1550 - near the 61.8% retracement of same 1.08 - 1.29 move.

 

[rezo_s]

The second strategy I would suggest is selling from the possible minor top that may occur near the 1.1900 level with 30 pips stop loss and same target. Move stop to entry level after 30 pips move. Market is very volatile lately and therefore we should be cautious. This trade requires a confirmation, and therefore don't take it as a recommendation yet. I will try to post once/if I enter at that level if we see it.

Good Trading everyone,

Rezo

 

[rezo_s]

seems like market is tryint to start selling Euros right from the start, but lets see how it goest later on the week.
My entry order is in place at 1.1790 with 30 pips stop loss and initial target at 1.1600

Good Luck!

 

[rezo_s]

Morning.

well, I see euro dived to 1.1760 - new year low, entry order was triggered but I wasnt here to move the stop to entry level. At the moment its trading at 92/96 and I will give it a chance to develop. If it fails to break lower, it will be a bad sign.

I am also holding short Aussie at 7290 with stop at 7350. Its currently trading at 7296/01. Target iseen at 7170 (50% of 6300 - 8000 move)

Good Luck!

Rezo

 

[raf110]

6 month target EUR/USD 1.10, stop sell at 1.750

 

[rezo_s]

got stopped on the Euro trade. May reenter later if it heads towards that line I mentioned yeaterday around 1.1880/90. Maybe even lower. Am also looking at possibility to sell GBPUSD.

GL !

 

[rezo_s]

6 month target EUR/USD 1.10, stop sell at 1.750

stop sell is a good idea! and BTW, we got 1100 pips from 1.29-1.18 in 2months, so if it keeps that way, we can see 1.10 even less than 6 months

 

[rezo_s]

I have a good signal to buy USDCAd at the current levels = 1.3558 with stop at 1.3490 and first target at 1.3750; next medium target is all the way to 1.40. Unfortunately I cannot trade this one, because I have 2 open positions for medium term, but if I didn have those, I would definately enter this trade. I am watching to short Eur and maybe GBP also with 30 pips target - this is something my rules allow me to do.

So this is a call here for the forums:

buy now at 1.3156;
stop at 1.3490 (66 pips)
1 tgt 1.3750 (192 pips)