If you’d like to share your trading ideas with others, or update existing strategies, please do so in this thread.
17 Responses to “Trade Idea Central, February 10th”
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AUTOREFRESH 
As you said RISK OFF IS ON in Asia! I Expect at least we reach 1.3260 with eurusd…then again TP eurusd 1.3300
I agree with Robert. That’s my position right now.
I like buying at 1.5800 TP 1.5970. At 1.5970, I will look to be building long term short positions with target 1.3800. If you look on the weekly chart, that would complete a C leg of a large bullish corrective pattern.
Hey Sean. Hope Reuters doesn’t cause you any stress again tonight! Haha, that was wild, but as you said they are about as reliable as it gets, so we are probably safe for about another 25 years lol..
I was wondering if you knew where the large corporate orders sit for USD/JPY or EUR/JPY tonight.
Also, do you know of anywhere online where I can watch the RBA policy statement?
And as far as trade ideas go, I’m back to scalping almost 100%. And although I guess it’s not technically considered scalping when I do this, I will also use bits of info such as order placements and set-ups I notice developing to hop in and hopefully ‘scalp’ 20 or 30 pips in certain situations.
Oh Zach, don’t remind me
I’m trembling now when I have to post data 
Still think we are only quick source for this type of info
Although it’s a Friday I continue to like selling any yen strength.
2012 has been a bad year for the yen so far and I think we’re now in the second month of a multi-month period of yen weakness. Longer term the yen may still be headed higher when more Euro area issues arise, but short term I see EUR/JPY, GBP/JPY plus the commodity currencies and even USD/JPY retracing a good deal (I don’t take the Fed seriously on their 2014 forecast or QE posturing).
(I’ve got longs in EUR, GBP, CAD, AUD, ZAR, USD – no NZD because I bought it around 61 when I had less conviction and chickened out early).
It’ll be interesting to see how much (if any) of the recent yen weakness can be put down to stealth intervention, but here on ForexLive we’ve been reading talk of macro buyers in USD/JPY in recent days, plus the Japanese trade deficit issue seems to me to neutralise concerns about Japanese exporters pushing the yen up (until Japan’s energy issues are resolved, which isn’t going to happen any time soon).
Hi Sean, what’s your take now on Eur/Usd until the 15th Meeting? and any range play for today as most of the Greek deal news looks to be over for the week??
Good afternoon, Sean. With regard to the last two months of the daily chart of the EUR/JPY, I agree with BofA (which appears to be targeting the 200-day moving average line “to the right”): http://www.bloomberg.com/news/2012-02-09/head-and-shoulders-indicates-euro-yen-a-buy-bofa-says-technical-analysis.html
I know Sean likes his H&S to have perfect posture, but it looks good enough to me Solange (through my blinkers!)
I’m targeting the bearish trendline first myself, and if we get there I’ll see how sentiment is holding up.
The other thing I like about EUR/JPY longs is even the Japanese retail traders are net short (89K short versus 75K long at TFX). In all the other crosses they are well and truly net long. If EUR/JPY can keep moving higher then it will likely put the fear of death into Mrs Watanabe.
Fxgai, have you read the original of Azumi’s comments a few moments ago? It seems to me that he said two completely contrasting things but perhaps something was lost in translation? Many thanks
I am short the EUR/JPY from 103.15 and will add to the position all the way down. The real threat of intervention is just a bit off of the front burner and the pair is over bought. I am looking for a correction down to the 100.00 level. There are still too many unknowns for the Euro now to miraculously be out of the woods and with Portugal up next on the chopping block, it will be the next crisis coming to the news wires after Greece. My three month outlook for the pair is 105.00, but there is still time for one big leg down from a risk off move.
Hey Sol, I would be leery taking advice from Bloomberg based on a head and shoulder pattern. The spot price will go where ever it wants to. It would be a better idea to watch support and resistance for buying or selling advantages. Any shocks in this kind market and chart patterns moving averages and other technical, can be of little comfort as you see t he opposite happen. I am not saying to trade against the head and shoulders pattern, I am just saying that it is wiser to be able to trade using what ever tools are at your disposal, but not to take anyone’s best guess or attempt to predict a market direction, because if they are wrong, you may have cheated the little voice inside telling you to go the other way. Cheers and good luck.
Yesterday i was still pretty sure 3400 on eur$ was gonna be met, but after the news we didnt make it at all, not even close, 3300 was defended very strongly as posted here by forexlive. Looking at 4h eur$ now uptrend looks to be broken, although with all this &^*% going on im about to throw TA out the door
, made a few pips though on that long and even on the rest, now im looking for downside again, but prolly more likely specially since its friday -> sideways. Probably one off these fridays where you realise “oh thats why you shouldnt trade fridays”
http://capital3x.com/featured/performance-for-the-last-3-days/
latest trades from C3X
They made a killing on Yen yesterday 500 pips. THE PORTFOLIO IS SHARED ABOVE.
the first reversal is in?
http://capital3x.com/trades/the-first-signs-of-a-reversal-on-horizon/