Comments on: EUR/AUD: Long position looking safer

By: Caleb

Caleb — Mon, 08 Apr 2013 00:49:39 +0000

I like the long side here as well. Last week’s range was app 345 pips, the largest since 10/1/2012, so some backing and filling would not be unusual. Any move down to 1.2390/1.24 level will likely be met with bids, as the 21 and 200 DMA and the 50% retrace of last week’s range all sit near those levels. At least at these levels I would feel more comfortable with a larger position, buying this high is either a no trade or a very small position for me.

By: Danny

Danny — Mon, 08 Apr 2013 00:37:20 +0000

thanks Sean

By: Sean Lee

Sean Lee — Mon, 08 Apr 2013 00:18:00 +0000

Hi Danny, mkt is already quite short of EUR/AUD and susceptible to short covering rallies. I always think like a contrarian

By: Danny

Danny — Mon, 08 Apr 2013 00:00:02 +0000

morning Sean.
Im trying to understand what you just written.
“IMM positioning reports short of EUR and AUD long” . Would this not translate into shorting this pair? cheers.

By: Edward

Edward — Sun, 07 Apr 2013 22:21:25 +0000

Thank you very much Sir…….

By: Sean Lee

Sean Lee — Sun, 07 Apr 2013 22:17:13 +0000

Hi Edward, if you are a really short-term intraday trader then 10 or 15 mins charts would be best

By: Sean Lee

Sean Lee — Sun, 07 Apr 2013 22:16:30 +0000

Kiwi is easy Drive, avoid at all costs is my opinion 🙂 AUD/NZD was nice sell last week but probably missed that boat now. NZD/USD, buy really big dips imho but don’t follow it closely enuf to have strong view on levels

By: FxDrive

FxDrive — Sun, 07 Apr 2013 22:08:50 +0000

Good to see it’s working for you Sean, i got out on this one at 1.2550, 290 pips from entry :D. Looking to enter again on next dip. Also can i ask what’s your view on kiwi, i’m seeing a good weekly resistance at 0.8470 and planning to short it.

By: Pete

Pete — Sun, 07 Apr 2013 21:34:25 +0000

Thanks Sean for this nice trade. I liked ur graph that day and went long at 1.2390. I find this is the best place to review ur trade and you are the best trader 🙂

By: Edward

Edward — Sun, 07 Apr 2013 21:29:56 +0000

Just a quick question outside this pair Sir. If I’m a short term trader, which chart duration should I use please. I mean is it 10minutes, 15, 30, 1 hour or 2 hours ???