Ads 468x60px


Saturday, November 22, 2014

Thanksgiving Week

Thanksgiving week is a half week for me. I will be leaving town on Wednesday morning with only a couple limit orders placed with small TP margins... just be looking for a 10 to 15 pip jump while I am gone. Buuuut, the first few days of the week I am keeping my eye on the GBP/USD. It has been bouncing off of that lower Bollinger Band for a few weeks now. I am thinking there will be a large bullish trend. I am setting a limit buy for 1.55876 and a TP at 1.59500. This will be a long move for the week for me. I like to balance my week with about 30% long (time wise, not long in the buy/sell sense) trades, 50% day trades, and 20% mid trades (2-3 days).

I also have my eye on the EUR/USD. I bought in long at 1.23927. It is down a couple pips right now, but I expect a bullish run into the low 1.26 range, I did have a conservative TP at 1.25, a whole 100 pips or so lower than my expectation, but I changed it today to a 1.26 TP order. I really see a long position that will pay off.

The AUD/CAD has been bouncing for three weeks now. Up and down, leaving it almost neutral over a three week time. I think it will drop a little more to .97054, if it does, I will pick up a bullish position to run to .9788. It will be a decent 83 and change pip move.

If the EUR/AUD drops to 1.46742 I will sell it short and look for a bearish run to 1.4424. this 250 pip run is very reasonable I think. I think if it hits the 1.46742 mark, it would take a week tops to drop 250 pips. Honestly, it could happen in 2 days I think.

The SGD/CHF was a nice ride for me last week. I bought long at .7353 and rode to .7400. It is now at  the .7460 area and I see a continual bullish run. I have a limit buy at .73891, which probably won't hit because it is so far below where it is right now and I do see it continuing to rise, but I don't want to risk that much when you can only margin 20:1 on that pair.

Now the AUD/SGD is a fun pair to trade. The Bollinger Bands, pivot points, and the SMA, WMA, EMA all point to a decline... at least that is what I see. I am setting up a limit buy on the pair at 1.10185 and looking for a 225 pip run up.

I am also setting up a limit buy for the AUD/CHF at .82122 looking for a 100 pip run on that one. I don't think it will get picked up this week. The pair is relatively flat and the bands and points show it staying flat for another week or two. Again, the way I read it.

HOLY COW, can we just look at the AUD/HKD for a moment. The bands are SOOOOOO wide. It doesn't know what to make of the pair. The pivot points are all in the lower channel too, so I don't know what to make of it. I will set up a limit there... a buy at 6.6 with a run to 6.9. This one definitely won't hit this week, but I shall see.

EUR/NOK, limit sell at 8.54187, looking for a bear movement to 8.5 flat.

EUR/NZD... it can be expensive on the long trade, but if it drops to 1.55602 I will buy it long to 1.56799. If it happens to spike up to 1.62461, the R3 pivot point, I will short it to 1.60552. Shorting this pair is nice because it actually pays a pretty decent interest rate per day... but longing it can cost you, so if you do long it, make sure you are positive you will make a nice movement on it.

The NZD/HKD pays a great interest rate on a long trade. So I am setting up a limit at 5.91343 and going to ride it long for 1,750 pips (really not a lot for this pair).

Where I am currently getting some pain is in the USD/CAD. I am about to hit a stop-loss there. I bought in at 1.13485. I have a TP set at 1.1376. For how much I have lost, I might cut the loss tomorrow when the markets open. The loss is not even worth the small gain. IDK, I am up in the air with this one.

The ZAR/JPY, USD/JPY, TRY/JPY, CAD/CHF, CAD/JPY EUR/HUF (took it off my radar completely actually), and GBP/CHF... are all positions I am staying away from this week. They are way above their Bollinger Bands and their pivot points, so I will wait for them to neutralize. Honestly, the JPY has been fucking crazy lately. Pardon the French, but its so true. It has dropped sooooooo much. It is 2004 all over again. Maybe a new George Soros will rise from its ashes... maybe it will be me :).

So this is a long post with a lot of data, but I think it is all good stuff. Some may not agree with some of my limit order or even some of the ways I read my tables, but most people thought Warren Buffett and George Soros were fools too.

-The World Goes To The Doers
-You miss 100% of the shots you don't take.
-If you don't have haters, then you doing something wrong.

#YoungBuffett out


Post a Comment