LET'S PLAY IN THE FOREX..AND NOT GET LOST! Message Board

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Strategies & Market Trends : LET'S PLAY IN THE FOREX..AND NOT GET LOST!

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To: RockyBalboa who wrote (206)	7/29/2007 6:37:59 PM
From: RockyBalboa	of 247

One forced liquidation of carry trades and at sharp 18:30 a brutal uptick. Amazing. Even the NZD managed to bounce. GBP led the reversal, going up 50 points in less than 5 minutes. I got extremely lucky... NZD running.., As a result, I am long the carry trade at 238 1/2, more than 12 below the recent top. Here, I use a 2 point mental stop. If it fails to even keep 236s then the next halt is 225-something. Whatever the risks, we don't go down without a fight. The currencies begin to turn around, the AUD managed to recover from a steep 50pip drop and is barely red. It hits a session high at 0.8504 (-11) I am not sure whether todays turnout of the japanese election helps. Normally the currency should surrender recent gains, if not for the carry trade. I sold a little yen. 0.852

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