Kumowizard
Long

EURPLN - Buy, Buy and Buy... NOW!

135 10 3
I hesitated too much, as I was not sure if it was really building a bottom in last couple of days. At least I am sure it did.

Daily: Slow Stuch bullish , MACD buy signal + we have the major uptrend in place

4 Hrs: Tenkan/Kijun medium bullish cross, Price above 100 WMA, Price soon to break out of teh Kumo on top side, which will also be a break of horizontal resistance, Future Kumo bullish Senkou cross. DMI             Bullish , ADX climbing.

Accumulate longs 4,1670 - 4,1780 range. Stop below 4,1580, Tgt             4,2200
Kumowizard PRO
2 years ago
Hope some of you could get on the train in time. If you are long, you can move already your stop to the bottom of the 4 Hrs Kumo, at 4,1660.
Buy on any dips from now as the trend develops.
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justatrader PRO
2 years ago
I took on a small sample trade. Closed out at $20 profit. EURPLN long swaps are -ve, so didn't see a point in holding on to the longs overnight (I'm a bee attracted to +ve swaps). Good call nonetheless. I have it on my charts to monitor price action.
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Kumowizard PRO justatrader
2 years ago
If it moves to 4,22 within a week, swap points do not matter. Trend is just reversing to bullish and confirms now. If you do not prefer trades with negative carry, I hv a good advise for you. Still put them on, because those are more likely to perform quickly, since most of the FX players tend to hold strategic positiove carry trades, which means that in a turnaround (like this one) they will suffer with positionning and exactly their stops will drive it up into your way! If you want to protect the position against the daily negative carry, use a trailing stop with a trailing step at minimum rate of the O/N swap points. That will help you mentally :-)Anyway, it is not that very negative carry. So much true for the HUF as well. Did u read my other idea today? (https://www.tradingview.com/v/og9leSho/)
I tell you, historically it is very cheap now to bet against these ccys! These are not TRY. In TRY you have to be more precise on timing and levels, as the carry bites the short.
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justatrader PRO Kumowizard
2 years ago
Interesting point you make. Gonna take your recommendation and try to enter on a pullback. Let's see. Betting on 4.176 for entry.
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justatrader PRO Kumowizard
2 years ago
I've been only trading EUR vs commodity currencies shorts... This EURPLN long will be something worth looking into. EURHUF... looks a tad bit confusing as based on my Ichi settings its inside the cloud (D/H4). Osc. looks a bit too overstretched in the OB levels with price just hovering on 65ema/h4... monitoring it for a correction.

For now looks like i'll settle with EURPLN... Could see a possible short from 4.195 - 4.193 back to my pending entry at 4.176 on lower TF.. should be an interesting play/study. Will check back if something significant happens ;)

See if you can post some stuff up on NOK,SEK too against the EURO.
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Kumowizard PRO justatrader
2 years ago
EURHUF is very exotic, and difficult to trade. Illiquid as well. But I have been doing it for more than 8 years :-). EURPLN is more liquid and better to trade on technicals. By the way, do you wanna hear a funny thing? EUR vs PLN is actually EUR vs a "commodity"... do you know what Zloty means in polish? ---> GOLD :-D

Sure I will try to post some NOK. I did one sometimes ago. I love NOK (I hate SEK though). I often trade NOKSEK as well. Unfortunately did a Long Call option on it in January, and it was too early. Theta killed the position, and as usual it blew up from 1,05 to 1,10 later.
NOK will be very interesting to watch ag EUR, as Norges is getting more hawkish. I think a 8,32 retest will be a good sell zone. Hope it will get there.
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Kumowizard PRO
2 years ago
The long position is on, price action is OK, no signs of deterioration, but tbh I expected a bit more and quicker momentum gain. It is a bit resistent ard 4,1900-4,1930. Maybe we should double up the size of the long? :-D
Anyway, let's leave it as it is, just move your initial stop from sub 4,1600 upto 4,1730. We'll see if it starts to perform better any time soon.
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justatrader PRO Kumowizard
2 years ago
Been watching EURNOK too. Have a long position with TP towards the monthly pivot. I suspect a Euro shorting scenario coming soon.
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Kumowizard PRO justatrader
2 years ago
I am watching that too, but not doing much. Hope you'll be lucky with your long upto 8,30-8,32, as there I would like to sell some strategic ;-).
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justatrader PRO Kumowizard
2 years ago
And 'that' would be my perfect trade... +ve swaps all along!!!
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