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Tuesday, October 16th, 2007Sorry, for my unscheduled hiatus from the usual posting…fear not, trading has been tremendous the past few weeks so life is good. I hope you’ve all fared just as well if not better. With that said, let’s talk shop…
Now if you believe the USD/CAD free fall from parity the past month is bound to continue then […]
Which Charting Package?
Monday, September 17th, 2007There are more charting packages being peddled than one can shake a stick at. Though there are many choices not all are created equal and what will work for you depends on what you need.
Personally, my needs are quite modest…give me candlestick charts in an easy to use customizable layout interface and I’m good to […]
Pound / Yen - Overnight Buying
Wednesday, August 29th, 2007For those of you who got short GBP/JPY yesterday, make sure you have those stops in place. The overnight flurry of buying took back most of the lost ground from yesterday’s selling. We’re now at a crossroad…either sellers step in to defend the 231.10 area (minor resistance where price started to breakdown yesterday) or they back […]
Pound / Yen - Buyers Losing Steam Yet?
Tuesday, August 28th, 2007Following through on my previous post. The GBP/JPY bounce now seems to be weakening and the sellers are trying to come in and see what kind of damage they can cause to the downside.
The Daily chart still indicates downside momentum and the 4-hr chart is now showing buyers failing for the first time to come in. […]
Pound/Yen - Defining a Bounce
Wednesday, August 22nd, 2007Shorting into the JPY crosses after the tremendous free-fall they’ve had the past couple of weeks is definitely a high-risk idea and not for the timid. But since we like eating risk for breakfast let’s consider this idea…
Following up on my previous post, I find it more comforting to wait for a bounce after a […]
GBPJPY - What If?
Thursday, August 16th, 2007Rob had a great question regarding my previous post. What happens if it doesn’t bounce and just keeps falling…now trading roughly 700 PIPs lower than where it was trading when I posted yesterday, what indeed? My answer to your question, do nothing.
On any given day, week, month or year the odds of the kind of gigantic […]
GBPJPY - Falling Off a Cliff
Wednesday, August 15th, 2007So the bears finally won out and crushed this pair mercilessly yesterday and into this morning. The same action played out across most of the other JPY pairs. I noted in my previous post that waiting for the market to choose a direction before doing anything with this pair was the way to go. Now that […]
GBP/JPY - Bulls or Bears, Who Has It?
Monday, August 13th, 2007For short to intermediate term traders the big question is, is it time to buy/sell GBPJPY? No one seems to have a confident opinion at this point.
This uncertainty is playing out on the daily chart as we speak. As expected, the chart doesn’t seem to indicate one way or another which way traders are leaning. […]
EUR - Hitting the Bid
Monday, August 6th, 2007EURUSD is stalling near it’s Daily highs and I have this rule of thumb…if I’m solidly in the money and weakness develops at resistance on the Daily then I get out. This is exactly what happened today so I hit the bid and called it a day for my EURUSD trade.
There is definitely potential for […]
Euro - The Buyers Have It
Friday, August 3rd, 2007I love it when a plan comes together. EURUSD launched itself over 100 PIPs today as buyers came back in with a vengeance. At day’s end though they gave back a little bit of ground but nothing unusual considering it’s a Friday with traders possibly unwinding some of their exposure ahead of the weekend.
I definitely […]