Technician

Watch-out, Major Volatility Ahead

FX:EURUSD   Euro Fx/U.S. Dollar
1656 34 60
Major volatility ahead, BIG developments during the weekend, as Euro             Group meeting failed to find a solution for Greece today and Greece’s prime minister Called to conduct a Referendum on Bailout Demands on July 5th.
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short and long?
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IvanLabrie PRO r.d.b.solutionz
a year ago
We will see a clean trend emerge out of this mess I think.
Potentially very profitable opportunities to come.
I welcome volatility with open arms, I don't fear it.
EURUSD won't do the same that usdchf or the other chf pairs did.
+1 Reply
Euro and European equities will probably open the week sharply lower, hundreds of pips downside gap... I wouldn't do anything :) i would surely avoid trading this environment. I hope that all is safe and not already long euro.
+1 Reply
AshleyWeyers Technician
a year ago
I hope so too. I closed ALL my positions on Friday as I have been caught in this scenario before.
+2 Reply
Technician TOP AshleyWeyers
a year ago
Great, I also closed my CADCHF short trade. CHF will also be affected by the event...
+1 Reply
marcus123 Technician
a year ago
good to have the heads up on all this and not get caught out. ta
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RobertHewett Technician
a year ago
why not buy an option strangle?
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I left my Short on EU open heheh
+2 Reply
TahirAli r.d.b.solutionz
a year ago
This volatility is good for trading as once this dust settles there will be lots of good opportunities for trading.But right now sitting on your hands would be better.
+3 Reply
Tom_Killick
a year ago
This is why you never make a FOREX trade on a Friday...
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IvanLabrie PRO Tom_Killick
a year ago
Depends on the Friday...but still, maybe safer than risking your shirt on 50/50 chance.
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Tom_Killick IvanLabrie
a year ago
To be honest, I dont trade Fridays on FOREX, period.

Saying that, depends on your strategy, I buy very early and use extremely tight stop losses so buying on Fridays for me personally, isnt even an option.

Regards
Tom
+2 Reply
moorekapital PRO Tom_Killick
a year ago
I used not to. But i do now, with proper stop, WHEN the setup is right on point!. Tis a Business of probability. Your methodology must enhance the probability for the trade.
+1 Reply
Technician TOP moorekapital
a year ago
The issue is that when markets open lower, stops usually get filled at the opening price, so a big slippage..
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Tom_Killick moorekapital
a year ago
I think it literally a strategy orientated decision to trade Fridays.
+1 Reply
Yeah, things can happen and if you are not lucky and get caught in the other side of the move, its really damage-full
-1 Reply
last week i left trade open at 72$ prfoit and it gaped making me 450$ , the weekend before i had a long and had -72 dollars then on sunday open it wentup too 600 $ after gap up. this weekend i hope for gap down to 1.104
+2 Reply
IvanLabrie PRO r.d.b.solutionz
a year ago
Yes, gaps can help out trades too.
Problem is the slippage, that can skip your stop loss.
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r.d.b.solutionz IvanLabrie
a year ago
i hear people talk about slipage but i never noticed it in all those years i trade. i always get filled at sl
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AshleyWeyers IvanLabrie
a year ago
Yep, most brokers guarantee limits not stops. I have had a profit pegged with SL get closed at a loss after news.
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Technician TOP r.d.b.solutionz
a year ago
best of luck, quick easy money
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moorekapital PRO r.d.b.solutionz
a year ago
Hahahaha, kinda like , sleeping where you slept last night again cos the last time you did, you won a lottery. Nice strategy @r.d.b.solutionz
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AdelMohamed
a year ago
i think we can risk a hundred or a thousand in separate account and take the chance. or i recommend watching the gap level for entry and trade correlation pair a way from the EUR till things completely settle down.
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Technician TOP AdelMohamed
a year ago
Agree, Could be a chance to trade other pairs thats risk correlated..
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It's official now referedum will be on July 5 for bailout demands, but the bailout deadline is on tuesday. Does this makes any sense?. This is guy is completely crazy and this going to affect the markets next week. Will gold and jpy rally?
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Technician TOP la.sportscorporation
a year ago
Probably Yes
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riskmode TOP
a year ago
Where can we find what the current price is for eurusd? exchangerates.org never seems to show anything until late afternoon in Europe.
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Jeff_Wheelwright riskmode
a year ago
Maybe on black market in Greece ;) There's no such thing like Euro futures at the moment. You can check http://www.cnbc.com/id/17689937 in the afternoon.
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Technician, what's your take on possible market open gap for GBP and CAD given their current correlation with EUR?
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kmk.msp
a year ago
There may be downward gap in EURUSD of 1.0960 maybe?
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ChartArt
a year ago
I'd say pretty simple:

Wait for the next bounce and short

(S&P 500 crash scenario 2015 to 2016) No deal for Greece


Enough room for a EURUSD downtrend until July 2015
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riskmode TOP ChartArt
a year ago
and at what point exactly is a bounce considered a bounce?
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Nice chart
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bloodbath
a year ago
I think i will take this week off .
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