M2P Contra-Swing Strategy

[pakiestra]

Originally Posted by mytwopips

Hey pakiestra,
It looks like you have bagged about 20 pips so far. Do you plan on holding?

Since the range on that pair is so small right now. I was wondering what your plan is. Are you going to go all the way to the other side of the 200, or scalp early? My biggest problem right now.

I've booked 25 pips on the pair next day and pull out as the momentum was/is clearly on the greenback side. Overall this par is now trying to get out of the claustrophobic triangle of couple of months duration, interesting to see. Sorry for delayed reply, seems to be your method is worth testing further.Have a nice weekend you all

[mytwopips]

I'm building longs on the guppy.

[4xStar]

Originally Posted by mytwopips

I'm building longs on the guppy.

You are? Interesting.....
I just want to cash out the 2 positions I have left .. but do not want to be long at this point. I just don't know what will happen next.
The Clash of the Titans ... Jeb has been screaming Down for weeks, Elijah insists she only wants to go up....

I have NO idea!!

But if you are only referring to your M2P 15' chart .. then, yes, she does look up in the short term, but I would be flat everything when she hits that 200.

[mytwopips]

Originally Posted by 4xStar

You are? Interesting.....
I just want to cash out the 2 positions I have left .. but do not want to be long at this point. I just don't know what will happen next.
The Clash of the Titans ... Jeb has been screaming Down for weeks, Elijah insists she only wants to go up....

I have NO idea!!

But if you are only referring to your M2P 15' chart .. then, yes, she does look up in the short term, but I would be flat everything when she hits that 200.

I am being careful because she could nose dive big time.

If I lose, I lose, can't win them all. I have had a nice run lately.

[Andrewunknown]

Originally Posted by mytwopips

I'm building longs on the guppy.

I can see that: 212.23 is the s-t floor here: lots of toe-dipping down to 212, but no closes below 212.23. These dips are skimming the .67 speed line off a larger scale fib fan (originating with 199.79 on 05/09, to 215.89).

Just observing that the ascending wedge forming still maintains a ~630 pip range, tapered to half the range it carried when the first touch on the upper line was made on 04/18. Now we have the overlap above us of the 38.2% retracement from 252 to 192 @ 214.88, which coincides with the 76.4% retracement of 215.89-211.63. Is the correction reversing from the .382 level? This level was broken to 215.89 where price backed down at the touch of the top trendline there, but then became a pretty durable ceiling. We may see a break above 214.88, and that's fine because I'm glad to go long as soon as short, but this wedge has to resolve into something, and I think it's a significant decline: it's just a matter now of when.

[mytwopips]

Thanks Andrew & 4XStar,

I will not marry her. Once the other side of the 200 ema is crossed, I'm out.

Believe it or not, I'm about to put a short on usd/cad. She looks good on the M2P chart and I think the Iran thing is going to give oil another little bump up.

[Andrewunknown]

Originally Posted by mytwopips

I will not marry her.

I'm not worried; if there's one other guy on this forum aside from me that has no scruples about shorting this pair if that's where the money goes, it's you.

[mytwopips]

For anyone looking at a/u and thinking it a good m2p long, don't.

One there is no volatility, we like to see volatility jumping across the 50 and bouncing off the 50.

Two, fundamentals is in more control of this pair right now than tech.

[mytwopips]

Guppy has made a descending triangle on the m2p charts.

She has always fallen in the past for when these form.

If your margin is safe, and your long with me, get ready to buy more maybe during the London. If your margin is not safe for a 200 pip drop or more, might want to think about taking a loss.

[mytwopips]

For you momentum players, you may want to put a limit short about 40 pips below the support of the triangle.