Anyone brave enough to go long?

hi Mr Ben

I'm currently long EUR/USD. However, if we get a close below 1.2379 I'll take my profit off the table and wait for an entry short.

Blimey. Didn't take long.

3 bearish candlesticks on the hourly chart.

Will enter short soon.

nice symmetrical triangle developing on EU on the 5min chart.

Will wait for a break on that instead. A safer trade as the PA is a bit choppy.

interestingly pastie markets are up but euro and aussie struggling. usd is still rising.

Yep. Yesterday was a very tricky day to trade. I made 11 pips. Like an idiot I went to bed just before the US opened and the big move came.

No clear direction either so far today. There's another symmetrical triangle on EUR / USD. However, the range is not as tight as I'd like - maybe it'll range until US open and break through with a clear direction?

More direction starting to appear - especially cable.

All these issues in the Eurozone are weighing heavily on my long-term USD/JPY longs. I've held them for nearly 6 months!

I think it could be time to go long euro,its the ultimate contraian play, only in a small way tho, play into it. I can see 6 months down the road America needing to have another stimulus

I think that now could be the time to go long FTSE...I feel that the panic has led to overselling, and for no good reason!

I also like the look of AVIVA at £3 a share.

you could get a rally for sure

You could also get badly burnt - remember the adage about not trying to catch a falling knife!

Dear me!

5000 looking very close now.

Wow!

Haven't seen selling like it since . . . this time 2 weeks ago!

up 120pips in the last hr.

Ill wait till the knife has fallen. I think it has, Swiss bankers after coming in yesterday an snapped up some cheap euros, clever lot the Swiss!

cable has broken below an ascending triangle which is usually a bullish pattern.

Short all the way to 1.4263

don't trust the Euro at the moment with the Swiss intervening. Looks like it could be forming a bit of a base around 1.25 to make a bigger move up.

Cable just closed below it's hourly 50sma. A good bearish signal.

However, it's freaky Friday so anything could happen.

Closed my cable short @ 1.432.

Will look to reload between 1.4356 and 1.4373 - if it gets there of course!

cable closed above 50sma so shorts off for now.

Pastie are you sure about all this stuff??

Cable being broken etc.etc

Do you not think that these markets are being driven by fear and hear say and not a lot else?

Pastie, what type of setup do you use to trade. What I mean by this is do you have multiscreen system setup, wel say 3 flat screen running off one hard drive. Iam currently using a laptop and IG for positions. But in the fast moving market of currencies its getting pretty labourous now hoping between 5 different markets

Can you recommend a platform or multi screen setup?

Hi Biodiesel

I also use IG. However, I don't like their charts. I use Metatrader and flick between the tabs at the bottom. I only have a laptop and a desktop with one screen. My Mrs would hit the roof if she came home and found a multi-screen setup in the spare room! :-)

I only really trade cable and E/U (I just had to close my U/J longs because of the fken Greeks) so I only keep 5min, hourly and daily charts open.

okay, thanks

Chisel - it is until cable closes above the daily 50sma and is supported by the 200sma.

I'm not too bothered about fear and hearsay. If it's below the 50sma and 200sma look short, if it's above look long.

Symmetrical triangle developing on cable (and also Eur/JPY) with a 30pip fake out to the top.

That's me done for the week boys.

The US open pushed cable and E/J through the triangle with a nice 45 and 70 pip move in 15mins! Closed cable and like a fool I didn't bother with E/J.

The Euro's moved higher. Closed that too. Still don't trust the PA. If the US try and push it down the Swiss may push it back up again late in the session.

Next week should be easier when the Euro drops its pants and bares its @rse again!

Swiss bank holiday today, and potentially good news being released in the US later.

Possible chance for Euro short unless the Swiss decide to intervene in the currency markets on their day off.

was on the short side this morn caught the break, but short on AUS kinda eroded the good trade.

Think we swing a bit from here, from the support to the ressistance 1.22 to 1.26

Biodiesel Joined: 04 May 05
Replies: 1039 20 May 10 14:19 
I think it could be time to go long euro,its the ultimate contraian play, only in a small way tho, play into it. I can see 6 months down the road America needing to have another stimulus.


Time to go long, chaaaaaaaaaaaaaaaaaaaaaarge!!!!!!