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Long term buy GBPUSDGBPUSD has hit historic lows after Brexit (UK exiting from the EU). First off, we have so much pressure down, this is a pretty aggressive move down, and it looks like we are going to consolidate down here for a while. To be sure a low base pattern is forming and we could indeed see further lows from here, as the trend is firmly in place. That being said, a weak dollar policy really benefits US trade and looks like a move down in the dollar is shaping up. This is quite simply a reversion to mean trade, going out 3 years with FXB calls and a price target initially to 1.35 to retest its breakdown and ideally a move to 1.50 (being the mean). On an intraday basis I am looking to Short the pair. This is why I'm choosing the long term calls, so I can trade around the position on different time frames
by ChrisD_Macro
1
Long Term short on USDCADA clear reversal happened the end of 2015 with the dollar, bringing to an end the long term up trend. After a move up this high (2013 .99 - 2016 above 1.45 a natural retracement or consolidating is expected. I see both as an opportunity to take a long term (2 year) position in this buy buying puts on FXC two years out. Technically on the monthly chart there is a clear trend line break (down) and a natural move to the bottom of the consolidation range to test the swing lows at 1.25 +/- is the clear initial target also getting us closer to those fibonacci retracement lines, though 1.20 would be a full 50% retracement. This would also put us below a 30 month moving average and that would change the overall direction to firmly down.
by ChrisD_Macro
2
BP is a Zig-Zag UpTrend - Would you invest? Guys, I am absolutely thrilled and be doing well with BP. I have the stock, LEAPS, Put-Sells, and soon Call-Sells. 1. What do you guys think about it 'after' the earnings? 2. Do you feel Brexit will have any negative effect in 2017-18? 3. Where do you see the stock ending in any timeframe? Please be specific $ and Time (if you can). 4. How are they doing with their Retail business with each gas station? 5. What if any are the lingering effects of the $2B to $20B lawsuit that is still pending (last I checked). 6. What is the Chart saying to you? If you can answer some or all of the above, it would be a great discussion. Thanks. Kenny
NYSE:BP
by kenny1924
2
How low AGN can go Euro/USD + Qtrly Perf Affecting itIt does look like $160 to $170 for AGN from the bearish charts, but can it really go that low. With the Italy election and what is going on with Euro, it might do it sooner than later. AGN in the US might be a buy with the Insider Buying + Low PE + Good potential on the low market cap relative to PFE, BMY and others. Of course, selling the Generics to Teva has brought in good amount of cash to pay off debt or buy something (GILD was ruled out). Maybe wait for 2019 LEAPS, or do a Feb Put Sell when it has a selloff soon. Your thoughts?
ALong
by kenny1924
1