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  #121 (permalink)  
Old 05-06-2009, 11:27 AM
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Hot Trade 05/06/09
Quote:
Originally Posted by mkroth View Post
Stay sidelined for the moment. Price is hovering around the 200 MA (downtrend) and the stochastics indicate a reversal to the downside.
USD/JPY does look especially dicey to me to me as well (testing both the 50 SMA and 200 SMA today).

Let's see what you guys think about this one: short GBP/JPY. This isn't necessarily the "best" trade, but one that I figured could spark a little bit of conversation. One trader took the plunge yesterday above 149.00, as the pair has spent the past few weeks consolidating below 149.90/150.00. Personally, I'm looking to buy GBP/JPY a break above 150.00, assuming we see risk appetite pick up a bit (or see a GBP rally).
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  #122 (permalink)  
Old 05-08-2009, 01:11 PM
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Hot Trade 05/08/09
Here's another JPY cross trade: one of the top 5 King of the Micro traders bought GBP/JPY after the pair bounced from fib support and the 50 SMA. He/she is still holding on to the position as GBP/JPY tests 150.
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  #123 (permalink)  
Old 05-11-2009, 10:18 AM
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Hot Trade 05/11/09
One of the top 5 traders bought USD/CAD now that the pair has bounced from the 38.2% fib of 0.9056 - 1.3015 at 1.1509 (and RSI has recovered from oversold levels). Thoughts?
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  #124 (permalink)  
Old 05-12-2009, 10:35 AM
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Hot Trade 05/12/09
One of the top 5 King of the Micro contestants sold EUR/JPY yesterday multiple times between 134.25 and 134.50. Clearly, the trades are already in the money, but I'm curious to hear where other traders think about the position...
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  #125 (permalink)  
Old 05-12-2009, 11:11 AM
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I enjoy setups such as this. Stop over the high line and short to support !
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  #126 (permalink)  
Old 05-12-2009, 11:26 AM
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Quote:
Originally Posted by Benoît Desmaraise View Post
I enjoy setups such as this. Stop over the high line and short to support !
Agreed Benoît, the trade looks good from a risk/reward perspective!
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  #127 (permalink)  
Old 05-13-2009, 04:34 PM
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eur/yen wedge
since that euro/yen wedge you show is nearing the end, maybe a better idea would be to do options on futures to BOTH sides for a volatility play, rather than hope it traverses again what little of the wedge it has left.
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  #128 (permalink)  
Old 05-14-2009, 10:59 AM
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One of the top 5 traders in the King of the Micro contest (as of Wednesday's close) made his/her profits trading GBP/JPY. Here's how:
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  #129 (permalink)  
Old 05-15-2009, 11:11 AM
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Hot Trade 05/15/09
One of the top 5 King of the Micro contestants bought EUR/USD multiple times last week and early this week after price broke above falling trendline resistance and consolidated above the 100 SMA and a rising trendline. Thoughts?
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  #130 (permalink)  
Old 05-15-2009, 11:20 AM
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Quote:
Originally Posted by maxplank View Post
since that euro/yen wedge you show is nearing the end, maybe a better idea would be to do options on futures to BOTH sides for a volatility play, rather than hope it traverses again what little of the wedge it has left.
Certainly an interesting option, but for our purposes (trading spot), playing the wedge or waiting for a breakout are also feasible trades.
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  #131 (permalink)  
Old 05-19-2009, 01:58 PM
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USDJPY H1
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  #132 (permalink)  
Old 05-19-2009, 02:03 PM
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Hot Trade 05/19/09
One of the top 5 King of the Micro contestants bought GBP/USD back on May 14 after price bounced from rising trendline support and as fast stochastics rose from oversold levels. GBP/USD is having a tough time breaking above 1.5500, but FXCM SSI (a contrarian indicator) shows that traders remain net short the pair by a ratio of over 2:1. Thoughts?
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  #133 (permalink)  
Old 05-20-2009, 04:57 AM
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GBPJPY H1
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  #134 (permalink)  
Old 05-20-2009, 11:52 AM
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Quote:
Originally Posted by YusuFX View Post
YusuFX: I take it you're long GBP?
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  #135 (permalink)  
Old 05-20-2009, 03:19 PM
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Hot Trade 05/20/09
One of the top 5 traders sold USD/CAD after its rebound from 1.1500 was stopped short at 1.1800. This trader was still holding on to the position as of last night's close...what are your thoughts?
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