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Posts by "nzvik"
263 Posts Total by "nzvik":
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Posts by Anonymous "nzvik":
Will stand aside at this stage.
CHF has been very weak today, USDCHF gained 100 pips and had a range today of 150 pips - ATR is about 88 pips, so a big move.
Yen was also weak - but not as weak as CHF - USDJPY has a range today of only about 70 pips - and the move up today was only about 15 pips. the ATR is at 85 - so not much of a move.
I will wait now for a break above 91.5 to go long, may take a few days or more. Going short is more tricky so will not be looking for a short position in the next 2 to 3 weeks.
I will be interested in USDJPY if it breaks 92.50 by atleast 15 pips.
Could be getting ready for a bounce to kill the GBP shorts again as happened 2 weeks back. keeps everyone confused - is the 400 pip drop on friday merely a correction in the 1000 pip move up and the uptrend will continue now, or was the 1000 pip bounce the correction in the down trend from early Aug and we go lower now.
Equities tumble and the dollar strengthens against all except GBP. I thought GBP was the weakest out of all !!
Good luck to whoever is trading GBP and its crosses. GBP currently is not for the amateurs, so I will stay away and let the pros play it for the time being.
Just got up - and discovered I got stopped out for a small profit. did peak over 91.5 then came back. Next time it breaks 91.5 by atleast 20 pips - the breakout will be quite strong and clean. I'll be waiting.
Vik
by today I mean monday - it is monday 1 pm in New Zealand. chfjpy has an atr of 85 - so i guess we will know today where this is going to move.
I will add to long if it clears 91.65
cheers
Vik
I am long from 89.80 - at the first breakout.
today is critical - if it breaks 91.5 it goes higher - otherwise we could see a fast and strong retracement.
what do you think caused the 1000 pip jump from 1.57 to 1.67 in 10 days ? was it a reduction in QE or a potential increase in interest rates ? if you can explain that it would be great for my and the forums understanding.
markets have been overbought for the last 4 months !!
Neckline at 1.5980 was breached for a while but the pair has bounced. Break of 1.6740 will take us to 1.7 and more.
I only trade breakouts. AUDUSD looks like going higher and higher. I am useless at predicting whether one should jump now onto the trend or plan for a pullback. If I had to trade this pair only - then I would bet on going long on a minor pullback, trying to short this is far too risky based on the trend of 6 months.
The pair presented two very clear breakout opportunities on 4th Sept and 6th Oct - I missed both.
Currently I am long CHFJPY from 89.80. If it clears 90.65 and then 91.50 - then I am looking to take profits at 93.
However, Ashraf keeps warning of Swiss intervention on thursdays - lets see if I survive tomorrow or get stopped out.
Vik