Re: Giving the long dollar trade another try
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This is one of those trades where I'm trying to catch a monster move.
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i can't speak from a TA perspective, but from a fundamental perspective (imo), this won't be a monster move. the dollar is a weak currency with tons of downside pressure (mostly from asian countries). that pressure is weakest, and may turn to upside pressure, against the euro and pound.
i think you're looking in the wrong spot to try to catch a monster move.
Barron
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First, probably a definition of monster move is in order. I'm looking for ~150 pips. Not sure what your timeframe is and I'm not sure if that consitutes a monster move for you. 150 pips on 10 lots (only got 5 on this trade)is a monster trade for me, considering I mostly daytrade 2-3 lots at a time for 15 pip moves.
Second, I agree with you on the choice of pair. I know the EUR/USD pair the best and know its flow. I wish I knew the USD/CAD better, as that might be the better place to catch a dollar move. I usually do better sticking with a market I know rather than trying to use a vehicle that I'm not familiar with. I think 150 pips is possible in the EUR/USD pair.
Where do you think the dollar will get the most "bang for he buck"?
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