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Forex july dollar in the dog house edition

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wallstreetcappers

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Posts: 58464

Posted: Jul. 20, 2010 - 7:44 PM ET #101

buck,

Theory is changing..I am noticing that risk on and off as a blanket trade isnt working like it did for the last year.

The Euro is stronger regardless of risk on and off, the LB seems weaker than the Euro and the CHF seems to be in a universe of its own..strength straight across regardless of whatever.

papageorgio

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Posts: 859

Posted: Jul. 21, 2010 - 12:14 AM ET #102

Quote Originally Posted by wallstreetcappers:

buck,

Theory is changing..I am noticing that risk on and off as a blanket trade isnt working like it did for the last year.

The Euro is stronger regardless of risk on and off, the LB seems weaker than the Euro and the CHF seems to be in a universe of its own..strength straight across regardless of whatever.

so true i noticed this last week and it has pretty much kept this week. its making it hard to play these pairs but i guess this is supposed too be the correction from the lows the pairs took before. but the Us dollar now isnt cooperating and traders are thinking the us dollar is in deep doo-do also.

papageorgio

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Posted: Jul. 21, 2010 - 12:16 AM ET #103

i am quite surprised at the low unemployment numbers in some euro countries but it doesnt change that they're gonna have a hard time and even harder time if us consumer/ economy goes into the toilet again which i fully expect in the coming months.

bucknuts

Captain

Joined: Oct, 2005

Posts: 8951

Posted: Jul. 21, 2010 - 2:58 AM ET #104

100 pip move in 2min in LB/JPY

papageorgio

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Posted: Jul. 21, 2010 - 3:14 AM ET #105

i know i sold outta a long at 133.50 was waiting for the open of london. then i was clicking buy like crazy at 132.40 and 132.45 and it wouldnt go through. i got in at 132.95 and added to to bring my average to 133 basically. WTF happened there ??

papageorgio

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Posts: 859

Posted: Jul. 21, 2010 - 3:15 AM ET #106

61.8 retrace on fib of its move was 132.35 and i was trying to buy like crazy down there like 4 or 5 times it wouldnt accept my buy

papageorgio

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Posted: Jul. 21, 2010 - 3:16 AM ET #107

but im glad i got back in tho i think this pupp will get to 134 before usm opens today

papageorgio

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Posted: Jul. 21, 2010 - 3:19 AM ET #108

just added more now my average is 133.1

papageorgio

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Posted: Jul. 21, 2010 - 7:41 AM ET #109

this is getting frustrating all the markets are green as can be and gbp/jpy hasnt moved up at all.

papageorgio

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Posts: 859

Posted: Jul. 21, 2010 - 7:43 AM ET #110

with this weakness i bet if the usm goes red gbp/jpy will get dropped hard.

bucknuts

Captain

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Posts: 8951

Posted: Jul. 21, 2010 - 10:12 AM ET #111

i sold at 1.3342 as my chart had 3 str8 sell arrows..all the MAs i use are bound in a 70 pip range[25,50,100@200],it looked weak even after it gained all the pips back after that sharp drop...

I m going to keep trading picking my spots though..EU and LB wouldve brought me good profits if id sold these the last two weeks....

wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 58464

Posted: Jul. 21, 2010 - 12:31 PM ET #112

Ive been limiting myself to the EU short and it is starting to turn my way finally..missed out on the EU.AU and Lb.Yen trades in the meantime.

wallstreetcappers

Covers Linesmen

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Posts: 58464

Posted: Jul. 21, 2010 - 12:40 PM ET #113

Forgot to mention, average is on 3 lots at 1.2882

I would like to buy.cover at 1.2730

bucknuts

Captain

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Posts: 8951

Posted: Jul. 21, 2010 - 1:52 PM ET #114

Get em Wall

papageorgio

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Posted: Jul. 21, 2010 - 6:16 PM ET #115

did you cover walls ?? nice trade either way ur in the money but be careful your cover price looks like where some would go long @, especially if the euro stress tests come out with some optimistic numbers, but i highly doubt they will.

wallstreetcappers

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Joined: Feb, 2003

Posts: 58464

Posted: Jul. 21, 2010 - 6:42 PM ET #116

I got within under 2 pips of covering..

I could just be done but I am willing to wait it out and see..

bucknuts

Captain

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Posts: 8951

Posted: Jul. 21, 2010 - 7:16 PM ET #117

i put this up in the general forum,good for a laugh

https://www.youtube.com/watch?v=93KrnZ0UJQk&feature=related

wallstreetcappers

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Posts: 58464

Posted: Jul. 22, 2010 - 12:52 AM ET #118

I decided to take 1.2770 as a cover, get it over with tonight..

papageorgio

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Posted: Jul. 22, 2010 - 2:36 AM ET #119

i WENT SHORT THE EURO HERE ALSO oops cap lock. 127.50 i think the economic info that comes out soon will send it down back to reality 125 target. but ill be happy if it can clear 127.1 soon on its way down to 126.60

papageorgio

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Posts: 859

Posted: Jul. 22, 2010 - 2:39 AM ET #120

walls its always good to lock those profits up but i do hope it falls hard tonight. good trade

i really hope these markets get back to normal soon hopefully by august all these corrections and retracements whatever will be done and we can get back to some risk on and off trading.

papageorgio

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Posts: 859

Posted: Jul. 22, 2010 - 4:52 AM ET #121

well i got stopped outta that one @ 127.95 boy was i wrong about that data every country beat expectations.

good thing you covered walls this might prop this pair up til next week

wallstreetcappers

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Posts: 58464

Posted: Jul. 22, 2010 - 11:26 AM ET #122

Got lucky covering last night..

I have no idea why the markets are up 2%, makes absolutely no sense to me.

wallstreetcappers

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Posts: 58464

Posted: Jul. 22, 2010 - 11:32 AM ET #123

Gonna start another short this time the EU.Yen at 112.60

Not there yet but close..

papageorgio

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Posts: 859

Posted: Jul. 22, 2010 - 5:58 PM ET #124

walls the market was up cuz every day country in europe beat expectations on manufacturing and economic data released last night.

now the euro bank tests come out tomorrow at noon or maybe even earlier. I would think that it will be negative on markets, outta 91 banks theirs gonna be some that are in deep shit and if their isnt i wouldnt believe the credibility of the tests but what the hell do i know, if i said its day time right now the sun would down immediately lol

went short gbp/jpy 3 lots @ 132.65 put SL 133.80 and TP 130.3 but i will close it out if a 4hr candle closes above 133.20 . the stress tests will have a huge effect on these markets especially the euro. kinda surprised its up here today, the thing that scares me is alot of the buying i noticed has been @ night european hours maybe theirs some players that know what the bank test info will be. gonna run this small position and see if i can get some pips from it.

papageorgio

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Posts: 859

Posted: Jul. 22, 2010 - 6:06 PM ET #125

walls

careful with that trade i would expect that pair will move the most from the results of the bank stress tests. i know ur against a stop loss but this news will be huge for the directions of all these pairs for the coming weeks. thats why im using a SL on a normal position as this news could give us big moves in pairs tomorrow.

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Forex july dollar in the dog house edition

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