Weekly thread July 7-11

[rezo_s]

Hi Russ,
If you follow my post on cable form yesterday and on, they came as follow:
"
Current level cable reached - 1.6550 is the first resistance to overcome. Next serious level would be 1.6420-50. 1.6330 and 1.6265 are next. But lets see if it can do so well. If it wasnt cable, I would say those are long term levels, but with this currency its very possible. If trading - use tight stops, at least move stop for b/e as soon as possible. Right now I as watching it to find entry point. It may take time - 1-2, and maybe even 3 days.
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Well, here we have it - h4 candle close around 1.6500. As for me, 1.6550-60 now becomes a resistance, and a level to watch right now. Maybe tomorrow there will be an entry.
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Looks like cable is going to decline. Good chance we see at least 1.6380 in next 24h. Unfortunatly I see no safe entry yet. Though it may occure in case things go little different.
Lets wait and see.
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"
I thought it was understood that I'm looking to sell, but sorry if misleaded. I'was looking for an entery for short since yesterday's decline began. When I was talking anout seeking for entry, I ment to short it - I thought the direction was clear, but guess should have written it also. Sorry again if there was confusion.

Regards,
Rezo.

[rezo_s]

Actually I did mention I was looking to sell - in post prior to those I quoted. Here it is - earlier on this very thread:

Originally posted by rezo_s
Very nice action here in europe session, but unfortunatly market not always acts the way we want it to. Even though we may predict the direction, not always is there a good place to enter.
Right now, cable is also one I'm looking to sell, but no, after current move I need to find entry. Will be waitin...as usuall.
GL.

maybe the "but no" thing was confusing - it was a typo. I ment to say "but now..."

[rezo_s]

EURJPY could be a sell if it pushed a bit higher (again about 134.20), but the problem with this trade is, that stop should be placed around 135.30 level, and first tgt I see is only 132.50. And even thogh its a very possible 150+ trade, stop/tgt are less than even 1:2... . So, I pass for now.

p.s. maybe later there will be better point for the trade.

[4xis2ez]

Thanks for your reply. Russ.

[rezo_s]

Sell order on eurousd at 1.1405, stop at 1.1470. tgt 1.1230.

[rezo_s]

Buy order on usdchf @1.3595, stop @1.3510, tgt 1.3820

[rezo_s]

If market will be good to me, and those levels be rached - I will be happy; If not - even happier

[rezo_s]

seems too good to become true right now...