Comments on: JPY starting to feel a bit overstretched

By: Sean Lee

Sean Lee — Tue, 09 Apr 2013 10:16:52 +0000

Yes agree, I think that’s the better strategy

By: Papillon

Papillon — Tue, 09 Apr 2013 10:07:10 +0000

In reply to Sean Lee. > Thanks. I like this trade idea at 8450 if the level holds ;-)

By: Sean Lee

Sean Lee — Tue, 09 Apr 2013 09:53:11 +0000

Hi Papillon 8560 needs to break I think or otherwise buy near 8450 and can do size I think if that lvl holds

By: Papillon

Papillon — Tue, 09 Apr 2013 08:52:35 +0000

In reply to Papillon. > Sean, I guess, you would mentionned to wait until the break above 0.8600 to get a clearer view and then pick a entry level for buying ??

By: Chngster

Chngster — Tue, 09 Apr 2013 06:13:38 +0000

Question is: what is the incentive to keep buying at the current level? Then again, I ask myself that at 1.2250 and look what happened next.
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We’ve travelled 10 big figures in 3 days, something that normally requires 3 months. So foreseeably top pickers and profit takers in action now, which (I think) should lead to a slow grind down or at least consolidation in the interim? Clearly, every healthy trend needs some form of retracement – the tricky bit is timing and level…
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I’m building short eurusd position between 3000 and 3100 for a move down to 2750 but am not 100% about it at the moment. Keep positions very light at the moment.
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Back to the topic, I’m not game enough to fade JPY yet. I think I’d rather wait to build for the next leg up.

By: Papillon

Papillon — Tue, 09 Apr 2013 05:45:03 +0000

Good evening Sean,

I have just read your previous posts and yesterday I studied the EUR/GBP and this cross looks interesting. We could see the same context in the last December, for the EUR (no bad news are good for EUR/USD, EUR/AUD, EUR/GBP, EUR/CHF). My prospect looks premature but EUR has been resilient…

On this idea, I propose this trade for EUR/GBP : buy one unit at 0.8500 stop at 0.8445 ??