Thread: Iceoverflow - Journal and Plan

Very interesting and conflicting info out this week. Last week traders added to the yen and now hold it at its highest levels vs. the US dollar. Long positions cut in half for the aussie and canadian dollar and long positions in the euro have been added vs. the US dollar and traders have added to the pound as well. Nothing really extreme except for the yen imo.


YouTube - Talladega Nights Shake N' Bake

Originally Posted by iceoverflow

Very interesting and conflicting info out this week. Last week traders added to the yen and now hold it at its highest levels vs. the US dollar. Long positions cut in half for the aussie and canadian dollar and long positions in the euro have been added vs. the US dollar and traders have added to the pound as well. Nothing really extreme except for the yen imo.


YouTube - Talladega Nights Shake N' Bake

Here is a chart of the CAD longs over time. People are still expecting Canada to raise rates on July 20th, so I guess the question is now is how tied is Canada to the U.S..

Originally Posted by iceoverflow

Here is a chart of the CAD longs over time. People are still expecting Canada to raise rates on July 20th, so I guess the question is now is how tied is Canada to the U.S..

Nice chart, I just got done looking at a USD/CAD 4H chart myself. I see some opportunity there.

You still holding strong on the short eurusd? I took some of my profits, might add more lots later.

Rob

Originally Posted by Rob P.

Nice chart, I just got done looking at a USD/CAD 4H chart myself. I see some opportunity there.

You still holding strong on the short eurusd? I took some of my profits, might add more lots later.

Rob

I am light short eur/usd and holding. Portugal was downgraded and the Greeks are trying to raise more money. Pimco has said it is shifting from euro debt into treasuries. Shifting away from risk is a good idea, bluehorseshoe fully agrees, lol! Gold took off since lastnight which is also interesting.

Originally Posted by iceoverflow

I am light short eur/usd and holding. Portugal was downgraded and the Greeks are trying to raise more money. Pimco has said it is shifting from euro debt into treasuries. Shifting away from risk is a good idea, bluehorseshoe fully agrees, lol! Gold took off since lastnight which is also interesting.

Very crazy market this morning....


Rob

Originally Posted by Rob P.

Very crazy market this morning....


Rob

yeah it has been, good for trading though.
Check out this 15m chart of usd/sgd, looking for a long here.

Originally Posted by iceoverflow

yeah it has been, good for trading though.
Check out this 15m chart of usd/sgd, looking for a long here.

I honestly don't know if I've pulled up Singapore before. Good luck if you entered on it. Was the spread bearable for that trade? I think it is pretty thinly traded and has a comparable spread due to lack of liquidity.

Rob

Originally Posted by Rob P.

I honestly don't know if I've pulled up Singapore before. Good luck if you entered on it. Was the spread bearable for that trade? I think it is pretty thinly traded and has a comparable spread due to lack of liquidity.

Rob

I have traded it before, I like sgd/jpy a lot better though. I didn't take a trade with it though. I was looking for a breakout, but that never happened. The market went higher and spoiled everything. But still fun to watch.

Originally Posted by iceoverflow

I have traded it before, I like sgd/jpy a lot better though. I didn't take a trade with it though. I was looking for a breakout, but that never happened. The market went higher and spoiled everything. But still fun to watch.

I will have to check those pairs out sometime. Right now the Majors are giving me more action than I could ever ask for... I just wish it was in my favor....

Rob

Originally Posted by Rob P.

I will have to check those pairs out sometime. Right now the Majors are giving me more action than I could ever ask for... I just wish it was in my favor....

Rob

Yeah, they are giving some movement. Right now is chop time which is a signal of a top, so it is violent. I made a new friend who trades forex and we have been talking about pairs and I looked at that one and thought perhaps a small victory but not at this time. Here is an appropriate quote, "Speed is the essence of war. Take advantage of the enemy's unpreparedness; travel by unexpected routes and strike him where he has taken no precautions."

Originally Posted by iceoverflow

Yeah, they are giving some movement. Right now is chop time which is a signal of a top, so it is violent. I made a new friend who trades forex and we have been talking about pairs and I looked at that one and thought perhaps a small victory but not at this time. Here is an appropriate quote, "Speed is the essence of war. Take advantage of the enemy's unpreparedness; travel by unexpected routes and strike him where he has taken no precautions."

EURUSD keeps pressing on! I am on the sidelines for now. I have been hearing from respected sources that the latest bullish move is based more on dollar weakness rather than euro strength. When President Obama announced he wanted to drastically increase exports, people took that to believe he wanted a weaker dollar as well.

Interesting times...

Rob

Last night China showed proof of their slowing economy. They have been slowly pushing on the brakes for long enough to be able to see clear slowing. Here is a good chart for them.

Originally Posted by Rob P.

EURUSD keeps pressing on! I am on the sidelines for now. I have been hearing from respected sources that the latest bullish move is based more on dollar weakness rather than euro strength. When President Obama announced he wanted to drastically increase exports, people took that to believe he wanted a weaker dollar as well.

Interesting times...

Rob

Yeah, I see that. The dollar is wounded but not broken. Investors seem to think that printing money will continue just like most Americans do. In the next election there is a very good chance that Republicans can take back the House and the Senate so it isn't as bad as people are trying to price in. I do expect a the third and fourth quarters to be crap allowing the dollar to once again be a safe haven. China is talking of changing their holdings from US dollars. In the past China has talked down the dollar and accumulated, so what goes forth from here will be very interesting. The IMF sold some gold in order to pay for some bailouts causing weakness, but are they done. Europe isn't out of the woods yet from this gorilla warfare battle in the jungle they are involved in.

I can sum up today with one video



YouTube - bear attack man




and then a big smile!

Originally Posted by iceoverflow

Yeah, I see that. The dollar is wounded but not broken. Investors seem to think that printing money will continue just like most Americans do. In the next election there is a very good chance that Republicans can take back the House and the Senate so it isn't as bad as people are trying to price in. I do expect a the third and fourth quarters to be crap allowing the dollar to once again be a safe haven. China is talking of changing their holdings from US dollars. In the past China has talked down the dollar and accumulated, so what goes forth from here will be very interesting. The IMF sold some gold in order to pay for some bailouts causing weakness, but are they done. Europe isn't out of the woods yet from this gorilla warfare battle in the jungle they are involved in.

Hi iceoverflow,

You think the euro finally topped out? I think it is getting a little out of hand personally.