SFX Divergent Daily Advice

[woodland-realm]

SFX any indications on when you will cash out? 10 20 30 pips?

Or are you letting the market decide...

[freelancer2k]

Usually it'll retrace 23.8%. The bottom is 1.8815 the top is 1.9009. 23.8% is around 1.8864. That's about 49 pips.

[woodland-realm]

I believe EUR/USD is going to make another try at 1.29 like I said earlier. It seems as if the trend is continuing upwards the only thing hurting it is the bad news but that is over for now. EUR/USD is good long right now.

Tommorow at 2:00 am EST Germany's Producer Price Index m/m will be released. Forecasters expect 0.4% increase; previous was 0.3%. We won't see as much movement as today but I believe we will see a rising EUR/USD tommorow if the news is in Germany's favour the trend continues to build upwards.

There is someone I know who trades only EUR/USD. (Bruce) He has 5 lots open right now at an average price of 1.2866. He only listens to the news regarding EUR/USD trades very successful. In the past 30 days he made 140% + interest. But nonetheless he could be wrong about his predictions (he hasn't had a loss in 30 days either). He expects a breach of 1.29 higher.

EDIT: He just bought another contract. His total invested is 600 K long on EUR/USD. He's a big spender.

Tomorrow at 9:45 AM...August University of Michigan Consumer Confidence

Previous 84.7
GUESSPERTS 84.0
Forecast 82.5
Bruce's Forecast 81.0

This will shoot down the USD in my opinion.

SFX you thoughts on EUR/USD?

[freelancer2k]

^^ look like Michigan data is bad for the USD. I go long EUR/USD too.

[SoundFX]

I just cashed out at 55 for a small loss. Don't feel like risking more on this one if I'm not longer-term convinced of a long I won't take it. I'll be looking to short GBP EUR again perhaps later tonight or tomorrow if conditions look right. Looking to reenter USD/CAD USD/JPY longs as well.

[mahras]

I actually went long GBPUSD at 8833 got out at 8851.
Reentered at 8855 out at 8857 after seeing some opposite divergence.

Currently short EURCHF 5818 on divergence. I already have significant short eur/chf bias (barriers+spot) so its tying in with my macro picture.

Coming back to the intraday discretionary game so may be a little rusty .

[SoundFX]

EUR/CHF looks like a good short as does EUR/JPY as long as you can hle the pain. Just shorted EUR/JPY at 48.75. Hope she's not gunning for 50 but if so that's fine. She'll fall REALLY hard when she does finally succumb to gravity which seems to bne looming.

-S

[mahras]

Definitely I will join that position soon enough. Look at USDCAD too.