The Euro- where to on greece fears.?

Every time your hear anything to do with greece  you also hear  the euro will collapse/go under 1.40 etc.

  The reality is that the euro has remained stubborn and with each fall recovers.

Political will is such that another  greece bailout is highly likely.The euro should rally on that news.

In fact I'm betting the euro will rally on just about any news other than total default.

   This morning its 143.23. If a rally does occur a "massive short" ah la melly AAPL style, opportunity awaits.This would be  even greater the further it moves above 1.45.

   I'm  gathering my strength to wait for such an opportunity.

I'm very tempted to go " massively long at this point as I feel all the shorts are already in and a squeeze could be on.

   A short term trade in AUD is on. I went long this morning at 105.80 with an exit above 106   should be easy $$$.

   If the AUD rises above 106 to say 106.2+  simply move the stop up to just above the 106 if in fact the euro does rally and the AUD rises axiomatically.

  Good luck traders.

The AUD was already over 106 by the time you posted this. This smells like yet another one of those "no lose" aftertiming trades you keep posting on here.

And the one trade you haven't aftertimed, long the euro, comes with the usual caveats ("I'm gathering my strength", "likely", "tempted", etc.). No entry point identified, no entry level identified, no stops identified, just....caveats. If it moves in the right direction, I'm sure your caveats will have turned instantly into strong convictions and you went massively long. If it goes the other way, your controlled your temptation and took no positions, or better yet, you realized the move was going the other way and changed your mind and shorted massively.

I'm in awe. Keep putting up this "no lose" trade recommendation, it surely enhances your great standing on this forum.

But don't take my word for it. Here's the chart. All one has to do is check out the chart against the time stamp of your post.

http://www.forexpros.com/currencies/aud-usd-chart


Another rear view mirror prediction by you. VERY IMPRESSIVE......NOT !!!!

Mr ben
I'm a bit confused by your post as follows.
" -----
A short term trade in AUD is on. I went long this morning at 105.80 ---- "
Are you saying only short if the Aussie rises above 106.20 or sometnig like that?. As I said I'm a bit confused by all this apparent conflicting info.

FAFH, there indeed might be confusion about how he phrased what he posted but essentially this is what he was trying to do. The AUD had a parabolic move earlier this evening (over 100bps - and that's parabolic in FX trading) and this ignoramus aftertimed again trying to project himself as a trading genius. The move was already near top when he posted that (check the chart) but he decides to let us know he went long AUD "this morning". It's rubbish. Like everything else he posts on here, worthless rubbish.

Also phrases like " the Euro rallies and the AUD rises axiomatically " really do worry me from an advice point of view.
If there ever was a word not to use to describe currency movements, axiomatic would be it.

FAFH, I think that "axiomatically" line was inserted in there to give the appearance of being familiar with technical jargon without understanding what the word really means. I just checked the chart and the move that went from 1.0560 all the way to 1.0613 (not quite 100bps - I stand corrected) has now reversed and is now at a lower point from where it started 1.0555.......but I'm sure he got out right at the very top.

Good night, I think I'm sleeping in tomorrow morning. Chat later in the day tomorrow.

I guess that interest rate increase analysts were expecting never materialized. That's why the move reversed. Good night.

melly melly melly

unlike you I'm not sitting on the forum 18 hours a day.I've stated b4 I dont  do the trade and then rush to post it in the next minute.

in any case I just got home and the trade was taken out at the 106.01 stop after hitting 106.13.As stated in my original post.I dont really think its that hard to understand is it? " A short TERM trade is on. Few minutes to a few hours.

Currently its 105.43 and im going long again.

lovely trade on the AUD.Its now 105.83

40 pips- nice.

I'm going to place  a stop around here but it looks like going higher.

Euro- up 50 pips from this morning.

Kinda makes you look stupid melly does'nt it?

Froggie- as i said  IF the euro rises the AUD will go with it.

kinda makes you feel stupid doesnt it.

froggie- your excused because you are yet to confirm your stupid, unlike melly who has an outstanding record in the  idiot stakes.

Melly- please  check the chart and verify the trade.

  Then post you apology and recant your posts on this thread.

Your status as the forum clown is firmly in place.

Wanting to sleep in is one thing, what my daughters have in mind is another.

MrBean, if I could trade what you would have posted this morning I would gamble my life savings on it....and I would be right. The entire move was just over 40bps and you milked all of it. You have a knack for buying at the very bottom of the move and selling at the very top JUST BEFORE a huge reversal as a result of the RBA announcement. Of course EVERYONE could have that knack if we posted our trades AFTER those moves.

Funny I accused you of aftertiming this trade in my earlier post, provided the chart to prove it, but you didn't even attempt to dispute what I was saying. Charts don't lie, only mug posters do.

You used to be the forum's comic relief. Now you're just an annoying ignoramus who embarrasses himself with every post and seems to enjoy doing it. It appears you've become "axiomatically" funny and sad at the same time . Before you use a "fancy" word next time in order to impress us, make sure you understand it's meaning.

You are sad benny, very very sad.

Mrben
Why should, or must as you seem to say, the AUD always perfectly track the Euro up and down ?

if we re in a risk on / dollar off scenario, then yeah aud tracks the eur, but also gold, the spx, oil, emk, anything.
but if the euro moves up on a purely euro based shock ( for example confidence vote tonight in greece ) then it s not automatic that the oz will rally. of course there are diffusions due to the fact that if greece dont go bust, banks dont have to take a massive loss, the spx will rally and then the oz will follow. but thats a secondary effect (and incidentally thats why euraud is a volatile ccy pair -volatility aroud 10-11pct, not that far off the voaltility of eurusd and audusd which are both around 13pct- else it would be priced at zero!).
one caveat tho:
look back at what happened on eurusd after trichet mentioned the Vigilant word last ecb..
everyone understood it was a green light for a july hike...but what happened to eurusd? dropped after a brief spike above 14650..
in other words, the buy the rumour sell the fact is an old but always modern adage.

anyway  tomorrow there s even the fed and mr ben press conference...
you might want to buy eurchf instead of eurusd to avoid any usd noise to affect your view.

I sure hope Mrben reads and absorbs what you say JW, and doesn't dismiss you " axiomatically " like he does Menelaus.

melly- your a total turkey.

far from being the "better man"  you were unable to acknowledge the winning trade in real time.Your credibility, already below gravity, hits a new all time low.

froggy- just read what JW said about the AUD, thats a better explaination than  I can give.

JW- thanks for that , I will check out the eurchf as a comparison.

I read it Mrben.
I am glad you did too.
Hope you absorbed it though.
You're playing with a dangerous volatile animal, trading currencies as you do, without the full knowledge, input and support of an experienced trading team of dealers and a large bank to ride out inevitable reverses and bad calls.
At least you don't ever appear to hold positions overnight. Stops will not always protect you then.
Yu know that I'm sure, but don't get too cocky ever. It will bite you. Of that there is nothing more certain.

Mrben
It's really irrelevant if Menelaus thinks your trades are real or not.
Just as long as you don't ever start to kid yourself.
Then you would be being extremely foolish.