EUR.USD

[miner]

Hope so,usd/jpy through can it hold usd/chf ok for opp way,eur/jpy slow to move so worth a watch..

[miner]

Xerof where would you set a stop loss for the night on this one before good night kiwi time?.

[Xerof]

Miner, well its a swing trade environment again, so I would be selling rallies, not selling right here.

Sell a rally to 12020, with a stop at 12055 would be my view from here

Xerof

[miner]

Ta for thoughts but already short from a few hours back,got a stop on that at 2010,so might leave it at that see if I stay in.

Didn't first thought buy usd/jpy or usd/chf so been a wet paper bag night anyway,so time for bedybys try again in the morning,good luck if your doing the late shift tonight hehe.

Cheers
Miner

[Xerof]

Hmmm, off that recommendation for a moment. Looks to me like market has priced in a good news speech from Greenspan tonite, and has taken some profit off the table already. May be more taken off if he 'only' comes in at expectation.

One leading commentator (from PIMCO) reckons FED will pause in August, which if Greenspan signals in tonites talkfest, would doubtless see an explosive upside move for EUR et al

I'm staying square until after his 'big brother uncut' show tomorrow morning

Xerof

[Xerof]

wow - 1.2140 for a sell

[peat]

I was actually long Eur from about 1.2070 area last nite coz thats what the indicators were telling me but had to close it out before sleep time coz I couldnt really trust it not to fall and, as is now seen any reasonable stop loss would have been hit. so yeh its annoying....
not seeing any posts from you Arco, is that because you are out in a market like this?

[peat]

[North American FX Close] Greenspan's warning on a cooling in the housing sector led many players to believe the Fed is getting close to neutral.

[Xerof]

Euro has just broken out of a triangle on hourly, but MACD not confirming yet. Aggressive trade would be to buy it now with stop and reverse at 12145, or wait until its above 12180, with MACD confirmation

Other alternative of course would be to sell it at 12145, being other side of triangle, with stop at 12175

[Xerof]

Agressive trade mentioned would have stopped out for 25 pip loss. Short entry on downside escape would have made 90 so far.

I did neither - just testing the theories, but liking it - seems to work most times. Also spotted a beautiful triangle set-up on the GBP last night which ended up being good for 140 pips by NYK close. Again though it broke out to upside first, there was no MACD confirmation, and like EUR ended in a downside resolution