Trade Ideas

EUR/GBP: Worth buying dips towards .8500

Two crosses which have served me well over the last week in terms of swing trades have been EUR/GBP and AUD/JPY; buying dips in the former and selling rallies in the latter.

I will try buying EUR/GBP again if we see an early European spike lower to go looking for stops below .8500. I’m only looking for a quick 70/80 pip rally.

I missed my chance to sell the AUD/JPY rally earlier today (strong technical resistance at 102.85) and again there was a fairly ‘easy’ 60 pips there for the taking, if you could get the timing right of course.

  1. Hi Sean, What should we expect to happen with USD/JPN if the 100 barrier is breached and the buy stops are triggered? An abrupt spike in the yen towards 98 or 97, or a fast fall in the yen towards 101 or 102?

  2. Definitely higher then Jimmy, prob 10050 pretty quickly and then onwards to 102 with max 150 pip pullbacks; something like that but pure guesswork of course. There is no substitute for sitting in front of screen and experiencing the moves live

  3. as the unpopular guy, I just see every bloggers or analysts suggesting long EURCHF. , make me uncomfortable in this trade.

  4. they should have been long 100 pips lower! You might be right, wait for dip back towards 12200 before committing (when they all turn bearish again).
    As an old boss once said to me, never trust any opinion which doesn’t have a sizeable position backing it up. Words are cheap.

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