Tuesday, May 20, 2014

trade ideas May 20th

Market has been very choppy this week, been struggling to find some good plays but a couple of ideas are starting to look good,

The first is the Kiwi, big support at 0.8515, but if it gets there I will not want to be long... The play is to be long at 0.8560 and (0.8545 if need be) and stop loss at 08520

 
 
The second is long EUR/JPY:
 
 
The reasoning is simple, the USD/JPY has a very clear support at 100.80 which WILL probably be broken, but when all longs are out of the market and only shorts remain, im guessing we rally again.. of course, this is risky, so stops are essential in case it goes into freefall, but this is what I think will happen:
 

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