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Posts by "montmorency"
678 Posts Total by "montmorency":
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Posts by Anonymous "montmorency":
@Gunjack: Not in my very humble opinion, but I'll tell you, my stops are _well_ above 1.63 just in case.
Story was more relevant at 1225 than now, to be honest. The bubble is already leaking.
OFF-TOPIC:
Your post reminds me: Does anyone know why some URLs posted here work as proper clickable links, and others don't? If have tried using HTML tags here sometimes in the past, but they seem to get ignored.
"we can even do 0.85 in $EURGBP as 1.38 EURUSD is question of when (not if). selling euro has been relatvly effortless".
Makes my long look a bit silly, but still, we'll see how it does below 0.86.
Anyway, well done. I left an order in for 1.6223 before I went to sleep, not thinking it would even get that high really. LOL. If I'd been awake I could have taken profit manually, but my TP was too long, and then it went skywards again. Still, I'm reasonably happy to wait for it. Remember that Ashraf has pointed out that cable gains in the morning of the London/Europe session are very often lost in the afternoon, or towards the end of the NY session (not sure of the exact times, but that's the general pattern). And while these are not "normal times" (when is it ever?), it has been following something like that pattern recently. On a purely "reversion to the mean" basis, I could see it easily getting back to 1.62 today.
My own approach is large stops and patience. Not everyone's cup of tea I know.
There are also scalping-type opportunities.
Ashraf has recently tweeted that Euro is a safer short than cable.
The big question for me was whether Euro would significantly rebound up (well above 1.4) before sinking properly beneath 1.4. It didn't seem to in the last 8-10 hours. I usually end up shorting it too low, and am trying to avoid that this time. It doesn't look like it's going anywhere fast for the moment, but as we all know, things can quickly change. I have no reason to doubt Ashraf's 1.38 target ultimately. My only question is where it will go between now and then.
Ah well...
Well done to anyone who successfully captured the spikes in cable and Euro.
(I totally missed the boat).
Still better to be out of a trade wishing you were in than being in a trade wishing you were out of it :-)
Speaking of which...
The only one of my orders to trigger was the long in EUR/GPB, and that was too high.
I thought 0.8650 would easily hold. Now it's looking like 0.8600 is threatened. Still, it can easily come back from there in a reasonable time.
Let's see what the European session brings.