adding shorts…
Posted by: rp on the 31st of Oct 2011 at 02:15 pm
based largely (but not solely) on these charts, i believe that we are currently at one of the best R/R shorting opps in weeks, if not months. what that means is shorting here with stops relatively close if these currencies lose(regain) the levels noted. minimal downside on the trade and big potential upside. the UUP and FXE are 60 min charts, the EUR/USD is a 120 min chart (primarily used to confirm the FXE since etn’s and etf’s are prone to tracking error). $SPX at 1270, again… just a solid R/R opp IMO. doesn’t mean it must work, just that the risk vs. reward ratio is very good and well defined.
