USDCHF got stopped out @ 0.9705
These short-term swings are really not my thing.
Monday, March 30, 2015
Swiss Jam Take a Chance
I think I would take a chance for a sell on the dollar swiss.
The 4-hourlies have hit a 3-point resistance around 0.9690. For a quick turn-around, I will sell here at 0.9670 and look for a drop to 0.9620-25. I will stop loss above 0.9690.
The 4-hourlies have hit a 3-point resistance around 0.9690. For a quick turn-around, I will sell here at 0.9670 and look for a drop to 0.9620-25. I will stop loss above 0.9690.
Thursday, March 26, 2015
say cheese ...
Decided to close out my dollar swiss short here (0.9525). It did go down to 0.9490 but I did not leave a stop-profit order to buy, so got out on the pull-back.
Looks like it's going to retrace and consolidate around here for awhile. So let's reassess again later.
Looks like it's going to retrace and consolidate around here for awhile. So let's reassess again later.
Tuesday, March 24, 2015
Sell Dollars?
I think the correction is still underway and will be for awhile.
Sterling looks heavy. The Brits are antsy over the strong pound and would prefer to see lower, so correction may not be as strong for the pound.
Short-term, the dollar yen looks uncertain, but dollar swiss looks like it will continue correcting. I would look to sell the dollar against the swiss.
I'm a seller here with stop above 0.9640 for 100 - 150pts.
Sterling looks heavy. The Brits are antsy over the strong pound and would prefer to see lower, so correction may not be as strong for the pound.
Short-term, the dollar yen looks uncertain, but dollar swiss looks like it will continue correcting. I would look to sell the dollar against the swiss.
I'm a seller here with stop above 0.9640 for 100 - 150pts.
Hit the pause button, not sure about rewind ...
Been told that the options markets are pricing an October or December interest rate hike, after the FOMC and Yellen.
As expected, traders are closing out long-held "long" positions on the dollars, across the board. Markets have basically hit the pause button as long-tern sentiment is still bullish the dollars.
However, for the moment the market needs to correct and the dollar yen looks good here.
I'll look to short if the price closes below 112.28 tonight.
As expected, traders are closing out long-held "long" positions on the dollars, across the board. Markets have basically hit the pause button as long-tern sentiment is still bullish the dollars.
However, for the moment the market needs to correct and the dollar yen looks good here.
I'll look to short if the price closes below 112.28 tonight.
Friday, March 20, 2015
No Interest in Yellen ...
It took me two days to get over being upset about my positions being stopped out.
So anyway, the mystery surrounding the dollars one day plunge was Janet Yellen and her speech at the FOMC.
Yellen said that “just because we removed the word ‘patient’ doesn’t mean we’re going to be impatient.” Boy that just takes me back to the days of Greenspan when people scratched their heads after he gave any comments or speeches.
She said that the Fed likely won’t raise rates in April, but after that raising rates is on the table. However, it’s too soon to say when beyond that rates will rise.
I am still of the view that dollar's strength will continue after the market adjusts to the aftermath of her comments. If market is already long dollars, then there will insufficient active buyers to push the price higher. It will be a struggle higher but any sell factors will see quick moves to liquidate.
I still favour a sell on the Sterling.
So anyway, the mystery surrounding the dollars one day plunge was Janet Yellen and her speech at the FOMC.
Yellen said that “just because we removed the word ‘patient’ doesn’t mean we’re going to be impatient.” Boy that just takes me back to the days of Greenspan when people scratched their heads after he gave any comments or speeches.
She said that the Fed likely won’t raise rates in April, but after that raising rates is on the table. However, it’s too soon to say when beyond that rates will rise.
I am still of the view that dollar's strength will continue after the market adjusts to the aftermath of her comments. If market is already long dollars, then there will insufficient active buyers to push the price higher. It will be a struggle higher but any sell factors will see quick moves to liquidate.
I still favour a sell on the Sterling.
Wednesday, March 18, 2015
Uh ... Oh ... Jungo
Tuesday, March 17, 2015
New day for a good day ...
I think the euro is ripe for a sell on the 4 hourlies.
A lower low has been established with a new lower high. A chance for a quick sell here @ 1.0610 with stop above 1.0700 and a target at least equidistant to the last leg (about 200 pips). So let us go with a 1.0460 target.
My STG position is still open as per earlier post. Stop is still above 1.5150 for a 1.4820 target.
Good luck.
A lower low has been established with a new lower high. A chance for a quick sell here @ 1.0610 with stop above 1.0700 and a target at least equidistant to the last leg (about 200 pips). So let us go with a 1.0460 target.
My STG position is still open as per earlier post. Stop is still above 1.5150 for a 1.4820 target.
Good luck.
Friday, March 13, 2015
Win some, Lose some
Stopped out on Usd/Chf 1.0088
I guess it just wasn't to be. May have been premature as the bigger picture doesn't yet supports the position. Anyway, no excuses. A loss is a loss. A good trader does not dwell on the past. As long as there is discipline to cut the loss and ride the profits.
Stg still looking good. So, I am at least happy with that.
I guess it just wasn't to be. May have been premature as the bigger picture doesn't yet supports the position. Anyway, no excuses. A loss is a loss. A good trader does not dwell on the past. As long as there is discipline to cut the loss and ride the profits.
Stg still looking good. So, I am at least happy with that.
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