Who's short on the EUR/USD?

[Doomberg]

Hey guys i've not had much time to day trade due to work commitments but one trade that has been sticking out at me for a while is a short on the EUR/USD, could be a longer term trade which is not my norm but this seems like it may be a gooden to hold for a bit. I have 3 positions which give me an average entry of 12985 and my stops on all 3 are 13085 (may move my stops). I remember seeing a post on a EUR thread from a guy who managed to get it at 14200 which must of been the final days in October 2011 and is already up by a 6 figure sum and intends to hold until he is 7 figures up, whoever that was well done and damn you 😆

So who's short and what is your entry and where are your stops?

 

[N Rothschild]

if ever there was a sign to be bullish

 

[VielGeld]

I took this screenshot from the Oanda FX order book:



I'm with N. Rot. that being a bull wouldn't be a bad thing. :whistling

 

[N Rothschild]

i think there maybe one more leg down to the 1.25/24 region after another pop higher today tomorow..but in the next few weeks the shorts are gona be ruined

 

[VielGeld]

Dibs on 1.28.

 

[Doomberg]

If it hits 1.27 again i'll be happy, any other opinions?

 

[wackypete2]

I only care where it's going in the next 5 minutes 😆

Peter

 

[Doomberg]

I only care where it's going in the next 5 minutes 😆

Peter

Hmmm i may go back to trading only on a 5m time frame....

Just been anally raped and stopped out on 4 positions 😢 😱 👎

 

[Masquerade]

I was (was short from last week) , I got raped 🙁

Really been looking bullish last few days, but there still seems like a ton of euro downside even if the markets wish to ignore it for now.

 

[Turtle Forex]

Well EUR sure did break into an uptrend against the USD (and JPY), but is this move EUR strength or USD/JPY weakness...

 

[VielGeld]

1.26 is a multi-month low + new year + extra-bearish sentiment = bullish for stocks, bad for US dollar.

No brainer, right? :smart:

 

[Doomberg]

I could of done with this today 🙄

 

[BILLV]

Just been anally raped and stopped out on 4 positions 😢 😱 👎

Oh well, You've been here long enough to know better.
I also got burned a couple of nights ago but recovered my losses last night (your day time).
Lesson learned for me, never trust the markets

 

[Doomberg]

Call me crazy but it looks like the top for today, just took a low risk trade to get back in... my entry is 13100.7 and my stop is 13125.7 - The stop is 4 points above today's high, if it gets to that point and passes then it's big danger of a 123 push so i'm happy to have my exit there

 

[BILLV]

Call me crazy but it looks like the top for today, just took a low risk trade to get back in... my entry is 13100.7 and my stop is 13125.7 - The stop is 4 points above today's high, if it gets to that point and passes then it's big danger of a 123 push so i'm happy to have my exit there

ok you are crazy :cheesy:
Actually I must be crazy as well expecting the AUD/USD to fall from 1.06.....

 

[Doomberg]

Come on guise, lets all hold hand and sing kumbaya my lord 😎

Tbh it is a very tight stop, so i'm happy with this final trade whatever happens,

However i'd need it to fall 150 points to make up for todays losses

 

[BILLV]

I don't know mate.
I think that vaseline could come handy in this environment.
So I'll stay out of the market for now

 

[rogue8]

This might be of interest: New "Stolper" Is Out, Says To Go Bullish EURUSD, With 1.29 Stop | ZeroHedge

Contrarian signal of Goldman says Long. Short target 1.29.

They know a hell of a lot more than me so what does Sachs know that I don't? Below expectation USD Durable Goods? Lower US GDP? Worth a punt with a limited risk. If EurUsd doesn't break recent uptrend resistance (high 1.31331) and continues down, then I'm pyramiding into it. Initially wide stops above 1yr6months support > possible resistance. Tighter subsequent stops but with maybe a few hours window of opportunity before price retraces FOMC run (if at all). If it does retrace. then ~1.29 tomorrow or Monday 30th?

What the hell do I know. GS could be double bluffing.

 

[BILLV]

Contrarian signal of Goldman says Long. Short target 1.29

They should know.
Their mates are probably selling USD atm and buying anything that looks like non US currency.....

If EurUsd doesn't break recent uptrend resistance (high 1.31331) and continues down, then I'm pyramiding into it. .

How close can you go?
I can't set the SL's tight with my broker, I think I have to be 20 pips away

 

[rogue8]

How close can you go?
I can't set the SL's tight with my broker, I think I have to be 20 pips away

Oanda stops have to be at least 10pips away but it doesn't matter since I'm risking a certain amount based on a maximum stop level. You're better off with a loose stop unless you can somehow pick the exact top (I know I can't). The contrarian short trade doesn't mean that price can't go up before dropping to 1.29 though (which is why I've got such wide stops for now).

Of course, it might not even go down...

Euro not doing much so far but it's getting choppier. US Initial jobless claims in the PM.