Back to the well once more...long dollar

[tippy]

Uh oh. PBOC's Yi out with the same comments that Cheng came out with last week. Damn, they are out to get me.

This isn't good. I may have gotten too greedy here. Putting a tight stop on this one at 1.4690.

As for all the other reasons posted, you guys said the same thing last week, LOL.

[DcifrThs]

[ QUOTE ]
Uh oh. PBOC's Yi out with the same comments that Cheng came out with last week. Damn, they are out to get me.

This isn't good. I may have gotten too greedy here. Putting a tight stop on this one at 1.4690.

As for all the other reasons posted, you guys said the same thing last week, LOL.

[/ QUOTE ]

there is reason for that.

the USD/EUR pair only appreciated 1.69% in this time frame whereas the USD/GBP appreciated 2.48%.

4.5pips spread or not, you would have made far more money.

Barron

[tippy]

[ QUOTE ]
[ QUOTE ]
Uh oh. PBOC's Yi out with the same comments that Cheng came out with last week. Damn, they are out to get me.

This isn't good. I may have gotten too greedy here. Putting a tight stop on this one at 1.4690.

As for all the other reasons posted, you guys said the same thing last week, LOL.

[/ QUOTE ]

there is reason for that.

the USD/EUR pair only appreciated 1.69% in this time frame whereas the USD/GBP appreciated 2.48%.

4.5pips spread or not, you would have made far more money.

Barron

[/ QUOTE ]

Well if it makes you feel any better, I cut it breakeven, so I didn't make ANY money, LOL.

I'm looking for a possible breakout for the EUR/USD to the upside this week. Got 3 lots long the Euro hoping I can reverse it on a breakout. Might be a little thin on the volume this week and ripe for some exaggerated moves, especially if it takes out stops in the 1.4750 range. If this happens I'm flipping my Euro position, hopefully in the 1.4775 range and adding 3 more if it crosses 1.48.

As for the Pound, like I said, I'm just not as familiar with it. Yes, I likely could have made more, but I could also have made even more with the AUD/USD pair. I just don't have as good a grasp of the fundamentals and flow of the pound or the Aussie dollar.

I did think about diving in on the Pound last week though when I saw a couple of banks revising their rate cut scenario for the BoE. But I passed.

[tippy]

Ok, we got the EUR/USD breakout to the upside. Sold my 3 lots for +125 pips each, +375 pips profit total.

Flipped to 3 long dollar lots at 1.4775. Laddering in for a total position of 10 lots.

Looks like an exaggerated move on rumor. Downside looks to be contained around 1.50. At that point, I think we definitely see central bank intervention. Should be a good risk/reward position.

[tippy]

Ok, looks like the 1.50 level held. Time for some profit.

Looking like the dollar may come back and test the 1.45 level. I lightened up a little on Friday afternoon, but still got 6 lots.

Also, looking to get in on the AUD/JPY pair if it drops back toward 96.00. Anyone got any advice on this pair? I'm not really familiar with it, but I've been researching it this week. If the dollar starts weakening substantially, commodities should benefit. Commodity stocks have looked pretty strong this week. Even if US slows, commodities should still be in demand worldwide. Interest rates in Aus don't look to be coming down anytime soon.

[Tweety]

[ QUOTE ]
Ok, looks like the 1.50 level held. Time for some profit.

Looking like the dollar may come back and test the 1.45 level. I lightened up a little on Friday afternoon, but still got 6 lots.

Also, looking to get in on the AUD/JPY pair if it drops back toward 96.00. Anyone got any advice on this pair? I'm not really familiar with it, but I've been researching it this week. If the dollar starts weakening substantially, commodities should benefit. Commodity stocks have looked pretty strong this week. Even if US slows, commodities should still be in demand worldwide. Interest rates in Aus don't look to be coming down anytime soon.

[/ QUOTE ]

AUDJPY is a classic carry trade whose interday movements are determined almost entirely by the level of risk aversion in the investor community. If you think global equity markets in for some more rough times, do not buy AUDJPY.

[dj_mercury]

US_Dollar: What to Expect