FOREX PRO Weekly December 05-09, 2011

[Aldo Colombo]

Trading style

could of placed stop at Break even and watched the movie.

Depends on your trading style at least you took some money!!

Asif

Actually I placed a 15pips trailing stop and got stopped out, my style is under development ... I entered short again at 1.3400, very low lot size, the idea is long term, but I cannot avoid messing around and placing tight stop and then looking to enter again, don´t know if its good but keeps me busy...

 

[asif faryad]

) Thats good ,as it all about what works for you keeping the Risk low and reward high.

Wish you lots of pips!

Asif

 

[Sive Morten]

EUR/USD Daily Update, Tue 06, December 2011

Good morning,
market has tested us mentally by reaching our breakeven level - 0.618 resistance at hourly time frame around 1.3478, but still, this level has held and hence downward bias still intact.

On daily time frame is not much to comment. There are just two bearish signs. First one is that market stands below both pivots - as monthly as weekly, second something like bearish dynamic pressure is forming. May be deeper AB=CD retracement to 1.36 is still possible, but there are no hints and clues on it, at least now...

On 4-hour time frame market has hit Agreement from recent AB-CD pattern at 1.3371, so shallow retracement is possible. Next short-term target is 1.33 area. Trend is bearish.

On hourly time frame trend is also bearish. For today's trading session our breakeven point is K-area 1.3430-1.3440. Since market has hit just 0.618 target and it is not at oversold or other solid support - retracement should be shallow - 1.34; 1.3410 or 1.3420
Anyway market should not pass through K-resistance. In this case it could lead to wide consolidation or even to upward continuation.

So, if you have bearish view - search sell signals around these levels. Your crucial level is 1.3430-1.3440

If you're bullish - it's better to wait for clear signs of possible AB=CD retracement to 1.36-1.3620 area on daily time frame. Currently they hardly could be found.

 

[Triantus Shango]

Hi Triantus,

Do you trade full time for a living? or you do something else as well?
Hope you made your pips today

Asif

Been checking those sites on the solari report et as this stuff i am also into is fascinating as the real reality is always something else.
The lion sleeps no more

Asif

trying to, that is, that's my goal: trading for a living. but it's been a long road to hell and back. hopefully getting there soon.

as to solari etc... fascinating, isn't it? the world is in the grip of madmen.

 

[Triantus Shango]

guys, check this out--from forexlive.com--cititech believes in the monster short squeeze. so do i. ;-)

source: CitiTechs switching into long risk trades | ForexLive

[h=1]CitiTechs Switching Into Long Risk Trades[/h]By Sean Lee || December 5, 2011 at 23:50 GMT
|| 21 comments || Add comment
CitiTechs made a big switch into risk trades overnight. The information that these guys get is usually very good so it’s worthwhile paying attention to what they do, especially when they are getting it right as they have been doing recently.

• They’ve cut their short EUR/USD position
• They’ve turned their long USD/JPY position into a long EUR/JPY trade
• They remain long EUR/CHF
• They’ve gone long AUD/USD

That certainly is a strong view they have there. I’m guessing that their reasoning is that the market is still overly short EUR and with the most dire prognoses for the EUR not coming true so far, we may see a big short-squeeze pre-Christmas.

 

[Triantus Shango]

Sive

if i were to say that a close on the daily above the mid-BB at 3429 is a sign of further uptrend in the short term, would i be mistaken?

 

[gammel]

hi

thanks sive for the great analysis

 

[Venelin]

guys, check this out--from forexlive.com--cititech believes in the monster short squeeze. so do i. ;-)

source: CitiTechs switching into long risk trades | ForexLive

[h=1]CitiTechs Switching Into Long Risk Trades[/h]By Sean Lee || December 5, 2011 at 23:50 GMT
|| 21 comments || Add comment
CitiTechs made a big switch into risk trades overnight. The information that these guys get is usually very good so it’s worthwhile paying attention to what they do, especially when they are getting it right as they have been doing recently.

• They’ve cut their short EUR/USD position
• They’ve turned their long USD/JPY position into a long EUR/JPY trade
• They remain long EUR/CHF
• They’ve gone long AUD/USD

That certainly is a strong view they have there. I’m guessing that their reasoning is that the market is still overly short EUR and with the most dire prognoses for the EUR not coming true so far, we may see a big short-squeeze pre-Christmas.

Very probable scenario more over as we know in december trading things like that happen! On 1h possibility for RRT ?

 

[BackSpace]

guys, check this out--from forexlive.com--cititech believes in the monster short squeeze. so do i. ;-)

source: CitiTechs switching into long risk trades | ForexLive

[h=1]CitiTechs Switching Into Long Risk Trades[/h]By Sean Lee || December 5, 2011 at 23:50 GMT
|| 21 comments || Add comment
CitiTechs made a big switch into risk trades overnight. The information that these guys get is usually very good so it’s worthwhile paying attention to what they do, especially when they are getting it right as they have been doing recently.

• They’ve cut their short EUR/USD position
• They’ve turned their long USD/JPY position into a long EUR/JPY trade
• They remain long EUR/CHF
• They’ve gone long AUD/USD

That certainly is a strong view they have there. I’m guessing that their reasoning is that the market is still overly short EUR and with the most dire prognoses for the EUR not coming true so far, we may see a big short-squeeze pre-Christmas.

Hi Triantus,

Interesting ! Thanks for the info.

BackSpace

 

[onenikos]

Dear Sive and All,
A little late in the week for a quick note that I will come back hopefully during the week-end. My thesis is that the Eurozone is moving full speed into disintegration. The problem is not Greece or Italy, Portugal Spain and Ireland. The problem is the Eurozones inability to face the crisis in a way that reflects the ideals that supposedly underline the creation of the Eurounion. This is the last chance to take action (and the German-French solution taken in isolation obviously does not solve any problems. In other words I agree with our medium term targets of below 1.2 as long term we might not have a Euro to trade.
Regards to all and especially to you Sive for giving and offcourse Felix!!!