Hope so
Sunshine On Leith
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No I got out at break even at 1.3630 when it was heading back up last night. It was straight down or nothing for me. Did you get anything out of it or still short?
shadowninja
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It teases like a sleeping, naked, drunk woman... 
It teases like a sleeping, naked, drunk woman...
As long it doesnt wake up and castrate me I am happy.
Sunshine On Leith
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I actually don't trade forex mate was just very interested to see such an unusual gap in euro and was hoping you had profited as it seemed a very sensible trade.
I trade indices and sold the gap on the dax instead which worked well today. Buy the rumour sell the fact seems to be the way with anything Greek related at the moment.
Cheers
N Rothschild
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no idea why people would try a gap trade on that. way to risky.
I thought it was high risk too hence stop moved very quickly. A bit of news on 4cast on Friday was "dealers marking up euro for no particularly reason" or something of the like. Interesting to see this move up shortly afterwards!
Interesting to see if it fills tomorrow.
cheers
Sunshine On Leith
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Each to their own. Thats what makes a market and all that.
Personally I felt the market had got way tooo enthusiastic over the Greek loan package and was screaming at me to sell. At the end of the day the package is a sticking plaster job which at best buys them a bit of time but is in no way a solution. It also sets a dangerous precedent, Spain and Portugal are now guaranteed loans too, so no real incentive for anyone to get their houses in order with unpopular austerity measures. Then theres the fact that all countries need to agree to the loan package, and in Irelands case that would mean a parlimentary vote. I dont know thhe ins and outs of it but I cant imagine Irish voters being to happy with their goverment voting to write a cheque to Greece after the Irish themselves have had to take some tough austerity measures so sort out their own problems at home.
How any of this is good for the euro Im not sure.
As I said I prefer to play any Greek related trades via the DAX due to the obvious German/Greek link, but would still be happy to be short the Euro with a 1.35 target. I would however be watching the Greek T--Bill auctions very closely today as a successful auction would scupper my plans and likely cause a continuation of the rally to 1.38.
Anyway, this is what I like about the markets, its all about differing opinions. Why would you say its too risky?
Sunshine On Leith
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Sunshine On Leith
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Good demand and a 4 handle on the yields. Lacklustre response though, guess evveryone took it for granted would go well?
EUR/USD spiked as it emerged that the Greek T-bills
auction was comfortably oversubscribed, but it is now trading below the levels
it held before the auction results were announced. That probably reflects
lopsided risks; a poor result would have hit EUR hard, but the relatively
positive result has been met with a shrug amid long-term concerns. EUR/USD
edging lower at 1.3575.
DJN
EDIT: Now might be a good time for a second bite at that gap...
auction was comfortably oversubscribed, but it is now trading below the levels
it held before the auction results were announced. That probably reflects
lopsided risks; a poor result would have hit EUR hard, but the relatively
positive result has been met with a shrug amid long-term concerns. EUR/USD
edging lower at 1.3575.
DJN
EDIT: Now might be a good time for a second bite at that gap...
Sunshine On Leith
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scose-no-doubt
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Depends how you look at it doesn't it. What if the default risk was priced in "overly enthusiastically"? You say sticking plaster job but the more I'm learning about this game is that it's all about capital risk and the short term liquidity risk in greek bonds is basically over no? Therefore a demand spike for short end is good news for euro in the sort term isn't it
shadowninja
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That was interesting.
N Rothschild
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the only reason i said it could be dangerous to play the gap is that a gap like that on the euro is uncharted territory..why play something which has no precedence for success
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