Time to buy the Euro?

[dow crash]

Thanks 'trader-dante'.

The Euro may give an initial reaction at 12444. Taking the level out would likely produce a trip to 125.

I have attached a chart as per why I technically mapped out the down move to halt at the day’s low - it wasn't a guess.

My initial target is the blue star as per the chart which would be met once 125 is conquered. Depending on the blue star reaction, a successful rise above it would take the Euro to my target zone of 130-131.

 

[trader_dante]

Hello Angela.

I am a greedy, evil speculator.

I am shorting the Euro.

I want new lows.

Come and get me.

 

[oiltanker]

i've no problem with long or short if that is what price is doing. its when stuff like 'i feel/think it has to do this or that ' is the basis for trading that it goes a bit wobbly.

swift 100pt moves with no retraces like that can only be cb intervention? reminds me of snb on eurchf.

 

[trader_dante]

That swift 100 point move was stopping out no one, Angela.

I am still short.

Bring it.

 

[oiltanker]

everyone other than cbs and a few pension type funds are likely to be short?

now the mutter from the gutter is about 'double top' and '12320 neckline'.

 

[scose-no-doubt]

That swift 100 point move was stopping out no one, Angela.

I am still short.

Bring it.

From looking at your old skool potential set-ups thread, it looks as though you were calling parity in 2009. You been short since then? It's looking a little more realistic now lol.

Just depends on whether the powers can manipulate forex as well as they can the index :S

 

[jazzidee]

I'm still short from 118.4 and I'm still awaiting 100.00 on the eur/yen

 

[scose-no-doubt]

Looks like I'm the only person long eur

 

[oiltanker]

i've been long and short today.

 

[scose-no-doubt]

ditto. out now though. watching eurgbp closely.

 

[pssonice]

"i've been long and short today". sure, and u ve been in and out today, right?

.

 

[pssonice]

"watching eurgbp closely". sure and out of the window too, right ?

.

 

[dealer911]

Hey guys - $/Yen getting creamed - carry trade coming undone ?

 

[scose-no-doubt]

Not really sure. New lows for Eur/Yen so could it be flight depressing the bid? Seen usd/cad? similar.

 

[oiltanker]

yen carry trade? that came apart in 2008? all those people who took out cheap loans then are paying through the nose now they have to repay them.

yen is seen as a 'safe haven' or something like that these days?

 

[counter_violent]

yen carry trade? that came apart in 2008? all those people who took out cheap loans then are paying through the nose now they have to repay them.

yen is seen as a 'safe haven' or something like that these days?

Yep flight to safety. The wild days are in the dis-connect Between JPY USD.

 

[dow crash]

The Euro may give an initial reaction at 12444. Taking the level out would likely produce a trip to 125.

Twice we came right near the level and backed away but ofcourse we take it out and the trip to 125 occurs...

 

[trader_dante]

Nice call. I threw in the towel today and bought 1.2330, 1.2356 and 1.2379. Covered on the volatility at 1.2445, 1.2495 and 1.2510.

 

[oiltanker]

from pivot to s2 on my chart. pivot was defended then cb whoosh. which must of triggered stops to help propel it up.

anyone think at some point it will come down as fast?

 

[oiltanker]

i don't worry about missing a false cb fast move cause usually lots of retraces to sell into on the way down. the move wasn't real so it has to fall.