22 July 2012

EUR/USD : Game Plan Back On Track

  • Long standing short (from 1.2988 on 07May12) almost screwed up by 1. getting mixed up with gold the week before and 2. trailing stop taken out above 1.2287 on the squeeze up from 1.2160 to 1.2323.
  • Managed to get back in with shorts at 3x1.2299, 1x1.2207 and 1x1.2166 (the last lot at NY week's close).
  • Charts on monthly, weekly and daily time-frames are all extremely negative. (Don't fail me now, please).
  • Selling breaks has been disastrous of late, hence my hesitancy in ramping up risk level to 100%. Only at 60% now. 
  • Support line at around 1.20 on monthly chart = minimum expectation,although I am really looking at this to go a lot lower.

1 comment:

Taichiseal said...

Der Spiegel - IMF seeking to pull the plug on Greece bailout.

German Economy Minister Philipp Roesler says thought of Greek exit from Euro has "lost its horror". Skeptical of Greece's ability to meet requirements for getting further bailout funds.

Gap in EUR/USD 1.2143/1.2133.