magik

magik

It seems to me that the chance of a fed hike is priced in. Despite all the data - we have not pushed back through 1.0820. There is support below. On several occasions we have failed to take out clusters of net sell stops situated right below 1.08 under heavy selling volume. There must be some real demand for euros at the 1.08 right now. With all the shorts piled...

magik

For now EURUSD in a range, messing with the big descending TL. Support is from shorts on the book in the 1.0980-10940 area. Break below 1.0930 Sunday is bearish. Trapped longs looking to get out provide some resistance at 1.1060/80 area. Play it. Get payed.

magik

Watching the these levels. .7180-.7210 area + major Trend line below. Watching this with great interest...

magik

If we are so lucky as to have a rebound, consider it an opportunity to add to this winning trade. Reload and short. Retail buy stops at the .70 level should provide the liquidity needed for a reload.

magik

EURUSD out of the gate next week. Place a limit order at 108.80. DOUBLE UP if we get to 1.09.50 area. Stops at 1.1060. Euro is going to 1.07. There are 100 pips of SELL STOPS stops below 1.08 from silly longs. Any rally is a fakeout. I'm not afraid to be aggressive in this pair and drop bombs as long as the stop orders are below, and they are. I know where stops...

magik

It's not too late to get on board the money train. A pull back to the 1.98 / 1.97 area is a possiblity. Add to your position. Go big. Trading can be easy if you let it. There are stops below the USDCAD to 1.27 and the GBPUSD to 1.55. That puts us back to 1.9680 roughly. This is a very volatile pair. Reduce your size so that you can afford to have wide stops. ...

magik

Second only GBPNZD looks to be in the EARLY stages of a powerfull multiyear uptrend. Just zoom out. In addition to the strong technicals there is a strong macro case story here about diverging economies. I'll spare you the lecture. I've been trying to get on board this rocket safely for a few weeks now. Here's the plan: I'm risking 10% of my free capital on...

magik

Denmark's current-account surplus has doubled since 2006 and probably will grow to 7% of GDP this year ...eventually they have to quit € peg. Risk reward is there. Get rich FAST.

magik

I'll spare you the Macro rant and just say the this GBPSGD trade looks like a potential lucrative way to play the divergent themes between Europe and Asia right now. The .5 fib is just above the most recent highs. All the technicals are there. I'm starting small and will ride this as far it goes. From the WSJ - Singapore’s export-dependent economy faltered in...

magik

Smashed below major TL. Failing at the major fibs. Huge policy divergence. Next support at the .666 level.

magik

Broke descending TL. Buy it. Possible to 1.52

magik

We are the hollow men We are the stuffed men Leaning together Headpiece filled with straw. Alas! Our dried voices, when We whisper together Are quiet and meaningless As wind in dry grass Or rats’ feet over broken glass In our dry cellar Shape without form, shade without colour, Paralysed force, gesture without motion; Those who have crossed With direct eyes, to...

magik

GBPCAD is a candidate for a long term trend trade. The UK's economy is firing on all cylinders and benefiting greatly from the ECB's QE cannon while Canada's economy is just coming to the grips with the collapse of the commodity boom. The UK seems poised to raise rates while Canada may have to slash and devalue in order to cope with a serious recession. With...

magik

Top of a range here. Good risk reward. Cad now buys .79 cents USD/

magik

The trend line connecting the lows of 2001 & 2008 intersects both the the 10 year .382 fib (2001 lows-2011 highs) and .236 fib connecting the 2008 lows with the 2011 highs in late summer / fall of this year somewhere around the .72 level. It is also worth noting that these two huge fibs are a mere 20 pips apart.

magik

Last Sunday started with a gap down in the EURUSD. Greece's surprise referrendum, capital controls and a midnight Greek atm-run sparked a mini-panic and brought out a crowd of bearish retail traders looking to profit from the Greek tragedy. Pre-market open Sunday had bids on EBS right at the .50 fib of 1.0960. Retail leaned on the sell button and got agressivley...

magik

Cable closed the week at it's big 38.2 FIB 1.5569 to the pip from it's 2014 high of 1.7191 and 2015 low of 1.4566. The 200 day EMA of 1.5545 is directly below along with a large cluster of net sell stops from 1.5550-1.5510. A gap into these stops next week woud trigger a healthy cleansing of the longs. Net buy come orders at 1.55 directly below these juicy sell...

magik

Pound continues down. 1.5650 was blown through. Next suport 1.55/ Not happy.