I'm hedging my USD longs with a long Euro trade here. I don't disclose the specific entry and stop loss here, I'll reserve that for my clients for now, but you can get an idea of what to expect. It might turn into a H&S type bottom signal if we rally back to the neck line.
It'll be interesting to see, and it's also a good hedge against equity positions, not only USD longs. Tim West has outlined potential reasons for a turn in the dollar, in the KHL chatroom and his USDCAD short idea post, so make sure to check those out.
Good luck,
Ivan Labrie.
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Acting great.
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Added a tad more down here.
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The mode support didn't hold, odds of this working are minimal...I'm out. If it goes up, I'll proceed to not care, gold is also toppy here, so I don't see how this can rally.
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I'll only hold GBP and AUD longs, and add to GBPJPY gradually.
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Look at what happened, after the 15 day uptrend mode got breached...that was a decent emergency exit. It didn't make sense to remain bullish then.
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I bought back here:
Watch this week's close later if not stopped.
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Holding and waiting.
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I'm out, if anything I'll rebuy on dips. Neat RRR for a short term entry.
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It's looking good now, back above the daily uptrend mode. If it holds and heads higher we'll see a strong rally.
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My last buy here, not so good, but I didn't want to risk volatility after Yellen talked.
Hi Ivan, I bought this pairs about 10 hours ago and closed it already now. Just focusing on NZDUSD the remaining atm, adding more contract to that pairs if opportunity arise.
Good luck to this pairs for you.
IvanLabrie
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@taming_the_mind, thanks. I'm being cautious with it, but, it could have a nice rally, given the spread vs gold, silver...same in bonds vs gold and silver (TLT)
Good luck with Kiwi. I'm long Aussie.
Walentine
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agree!
ElPatron.Y
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I thought that you disliked patterns ;-)
IvanLabrie
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@Yahia.Awes, I still do. People draw them in random places ;)
The pattern doesn't tell much or give a good entry by itself, it's more subjective than the metodology I use.
Good luck to this pairs for you.