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  1. #1
    Administrator Martin Kay's Avatar

    Tip from the Geek - EUR/USD, DAX Weekly and Monthly Expire - 28/01/-04/02/2013 !!!

    Hi guys,

    Michael presented his new top 5 tips for the week! The article provide through analizes of the last week market movement and ideas for the new greatest trades. Check it out and find which the best opportunities of this week are!

    Originally posted by Michael Hodges. For the whole article click here.

    Euro Strength Helps Euro Citizens

    EUR/USD
    Call/Put= Put
    Entry = above 1.345
    Expiration = end of week

    The Euro moved up nicely to my near term target of 1.3500. Now the currency pair is trading below resistance with weak technicals and overbought conditions. With all the data out this week I expect the trade to remain below this resistance. There is also the chance of profit taking. The currency pair has move up around 30% over the last two weeks, offering a nice little return for bullish traders. It’s the FOMC I am worried about; changing U.S. fiscal policy will help or hurt this trade. I am trading a half size put position on this trade with a weekly expiration. A break above 1.3500 negates this view and will reverse my position.


    3. DAX Breaking Out

    DAX
    Call/Put= Call
    Entry = below 7900
    Expiration = end of the week

    The DAX is breaking out to new highs. The inherent strength of Germany, plus the improved conditions in Europe and strengthening Euro are helping this index move higher. I am playing a call on the DAX with an entry below 7900 with an end of the week expiration.


    5. Japanese Yen And A Shooting Star

    USD/YEN
    Call/Put
    Entry = above 90.75
    Expiration = end of the week

    I made a similar prediction last week that didn’t move in my favor. I think the analysis is still sound, it was my time frame that was off. As I look at the daily chart now I am seeing more definitive sign of correction, not to mention what looks like a shooting star formation. I am trading puts here again with a half size position and an end of the week expiration.

  2. #2
    Specialist Member RCox's Avatar
    The geek likes a PUT in EUR/USD. Its usually a mistake to bet against geeks, and while we have seen bull moves this week in the EUR/USD, these are looking like good sell levels around 1.3580. Good for the guys ready to play hourlies.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    The geek likes a PUT in EUR/USD. Its usually a mistake to bet against geeks, and while we have seen bull moves this week in the EUR/USD, these are looking like good sell levels around 1.3580. Good for the guys ready to play hourlies.
    thanks for the vote of confidence but at this point I feel as though I've made a grave mistake with this weeks analysis. The Euro/usd not only broke above 1.3500 it kept on going.

  4. #4
    Legendry Member Michael Hodges's Avatar
    this was a tough week for indexes and currencies. There was so much data and so many reasons to think a pause/consolidation was due. I'm glad i choose to use half size positions. One reason I choose half size was because I already have options in the money on both those currency pairs. It cost me nothing but a little bit of my profit to enter into puts this week.

  5. #5
    Senior Member Grae's Avatar
    Quote Originally Posted by Michael Hodges View Post
    this was a tough week for indexes and currencies. There was so much data and so many reasons to think a pause/consolidation was due. I'm glad i choose to use half size positions. One reason I choose half size was because I already have options in the money on both those currency pairs. It cost me nothing but a little bit of my profit to enter into puts this week.
    The Euro just kept going though. Without betting against the trend it was bullish after Monday, with some reversals for profits. This week I only traded the EUR

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