EURUSD 1h Short, June 7, 2010
I have taken a tester position on the EURUSD short that we talked about this morning.
Here’s the chart:
Click to enlarge
I’m looking for profit below the area of consolidation we talked about this morning, so I may be holding onto this trade for a very long time. I show Monthly support at 1.1790 or so. So, my PT is 1.1810. You might feel more comfortable with the secondary low inside the box at 1.1860 ish. My SL is above the recent high at 1.2010. That seems reasonable since the 1.20 area proved to be so highly psychological that the market may want to bounce around that area before deciding on a direction.
Let me know what you’re watching/trading!
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Remember: The purpose of these trade alerts and watchlists is to keep discussion going about what’s going on in the marketplace. It is not my intention to have you trade what I trade, simply to tell you which trades I take that we’ve talked about at the WLWs.
In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.
Be good to you,
Triffany
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at 
I am long USDCAD, it has now retraced back to the 1.05 level, and I am hoping we go up from there to around 1.07, I am gearing up for a short on the NZDUSD if it happens to around 0.63 and this very horizontal game the USDCHF is playing is making me like a long should it open. Otherwise commodities shot up today for reasons I am not sure about as yet, Gold when shooting up so either the Queen just said, I think I’d like to buy another necklace or this Euro thing makes people wanna Goldfinger … I don’t see a reason why this thing can’t hit its 1250USD/Oz super high and break it.
… lastly I’d just like to say on behalf of us british people that we are sorry about the whole oil spilling thing we honestly weren’t thinking about that whole tea party thing at the time, really !!!
I don’t trust the U/CAD long again until it touches 1.0375 for so, but feedback candles off of the 1.0525 area would also be a good setup there.
N/U triggered another short about 4hrs ago, but this retrace looks even better and should take some of the volatility out of the trade.
I like the U/CHF long, too…maybe on a close above 1.1635 or so. I probably won’t take it though…I seem to forget the CHF pairs anymore. I need to get rid of those and add a NZDJPY and EURAUD, I think.
Hey, if Haliburton and TransOcean knew how to better build the parts that blew up, and if oil companies in general weren’t allowed to sign off on their own inspection reports this catastrophe might not have happened at all. At least your side of the problem is taking responsibility!!