Friday 10/2/12 (1pm)
OK...this is annoying for me. Nothing has happened for 2 weeks. Things look like they're starting to get impatient and move now though, just as I pack up to head off for the weekend.
I'm posting charts of things that look like they're worth watching. I'm a bit naughty as I jumped into a LONG on the USD/SGD earlier before confirmation via the USDX. I do have a TS signal to LONG this pair though. Time will tell if this is an expensive deviation!
You may need to click on chart images a few times to get them to enlarge.
I'm not back now until Sunday afternoon.
E/U: Could turn down but 1.36 still achievable
E/J: Looking bearish to me but could break out and up and keep going. Is at a critical level me thinks!
A/U: currently testing daily bull trend line. A big 'worth watching' here!!!
G/U: The H & S seems to be evolving.
USD/SGD: break from trend channel and moving upwards. A TS signal to LONG as well
Loonie: Looking very bearish but could bounce up too. Watch the bottom trend line for early clues.
U/J: I'd be looking to SHORT if I trend-traded this BUT beware of BoJ intervention.
Swissie: Waiting patiently!
GOLD: It's building up for something!
Friday 10/2/12 (5.30 am)
Well, all I can say is that I'm glad I didn't wait up for the GBP data to come out. FX, as well as stocks, continued to trade sideways overnight. It seems the relatively good data out of UK and USA is having difficulty gaining traction because of the continued unease about the Greek debt problems. It's a case of one "step forward and one step back" so, we end up going nowhere! There have been 2 x 4hr candles on the USDX that have closed at just under the all important 78.5 level. They don't stay down there long though and it is trading at 78.55 as I write this now!
This 'Fundamental' tension makes it hard to trade technically. That is the reality so, deal with it. There is still some red flag news to come out of the US and UK tonight so that might kick start things. There is, also, always the potential of an unexpected bombshell item re: Greece that can offer movement as well. If none of the above are triggers, then we'll have to wait until next week.
I am away from later this afternoon until Sunday afternoon so I may not be able to post much, or anything, during that period. I will post my Indices Review on my Sunday afternoon/evening. Given the behaviour of this pair so far though I suspect that this report will be rather short!
I will post a bit more later about what I'm looking for with certain pairs. For now, I'm off to look, yet again, for my son's stupid Cadet cap!
PS: I just noted these moves on the Yen pairs. Whoa! The BoJ must be behind this action. Started over night.
Thursday 9/2/12 (9 pm)
Have a guess where the USDX is sitting. You're correct: the 78.5 level! Little has changes, as expected. It seems that the markets are paused, waiting for data due out overnight from the US and UK. FX Live is reporting a lot of social unrest in Greece though and rising unemployment. Hardly good news but it will be interesting to see how the markets react to the remaining swathe of data.
Gold and Silver are hugging their bear trend lines and the Swissie and USD/SGD are still trading within their tight ranges. I'm sure I'll wake tomorrow to see that I have missed most of the action.
Thursday 9/2/12 (5 pm)
Ho hum. Not much has changed. The USDX is trying to break below the 78.5 level though as I write. Time will tell if it succeeds!
Thursday 9/2/12 (2 pm)
Still not much change with the indices. I'm waiting for a clear indication on the USDX as to what the next trend will be. A break below the 78.5/78 level will be 'risk on' with SHORT USD and LONG EUR/AUD etc. A clear break up from the 78 level with be the reverse, that is, 'risk off' with LONG USD trades being sought.
BTW: Looking back, so far this week, the best trade was yet another that I missed as it kicked in over Monday night on the E/J for over 130 pips. This was a trend line break as well so would have been an easy pick up for those who were awake then!
Thursday 9/2/12 (9am)
The USD has barely moved. I really think it will trade sideways until after the GBP news tonight (8.30 and 11pm Sydney time). Chinese data at 12.30pm might give the A/U and A/J a push as well. The Swissie and the SGD continue to trade sideways as well.
Thursday 9/2/12 (6am)
It is SO nice to wake up to find that little has changed overnight. Continued uncertainty about the Greek debt issue resulted in further choppy trade, both in FX and stocks. I really think that it will take the GBP news lter tonight re: interest rates and QE to cause some movement.
The USDX is still trading just above the 78.5 level and the EURX at around the 103.5 level just under the monthly R1 pivot. Both of these are key levels for the indices.
I'm watching the Swissie for a break, one way or the other, out of it's narrow trading range (see chart). I'm also watching the USD/SGD to see if it breaks above the weekly pivot or below the 1.241 level, a hugely significant previous level of S/R dating back to early last year. (see chart).
This is the beauty of trend trading. You're not married to any particular direction. You trade with the prevailing trend AND, most importantly, you trade what you see based on price action.
Wednesday 8/2/12 (9 pm)
Well, I have been on about the importance of the 78.5 level today and, I've just spent the last few hours watching an almighty battle of price at that level. Sounds pathetic, doesn't it. I had an MRI over the w/e and I can safely guarantee you that my brain is intact, well developed and functioning at a high level so, no, I'm not crazy! Price is currently back up above the critical 78.5 level but, only just.
I'm not about to take any 4hr chart trend trades whilst both indices are at such critical levels. There is always the threat of Euro zone news to further complicate matters too. If indeed, the USDX does turn back up then I will have time to get into new trend trades in the coming days. If price keeps falling from this point on now though, I will miss continuation trend trades as they will develop much more quickly. Again, this is the issue with living down here in Australia. I continue to emphasise that these ranging markets, that we have had now for almost 2 weeks, are more suited to short term trend trading, if you can, or, trading off bounces (which I don't do!)
Wednesday 8/2/12 (5 pm)
Ok, I'm back from cricket pick up. I see the USDX is trying to break down through the 78.5. Please read my 2.30 pm notes here. I want to see a close below 78.5 before I will short the USD and, thus, LONG the EUR/AUD etc.
I do have some TS signals firing BUT, we are at a critical juncture for the USD so I'm playing it extra careful. I want to live to fight another day, so to speak!
These are the two I have my eye on for breaks (down below trend lines) should the USDX continue to fall:
The USD/SGD is at a significant low level of strong previous S/R though too.
Wednesday 8/2/12 (2.30 pm)
I'm just looking at the USDX again. Why? because I can! We are getting very close to the 78 level that I first pointed out a few weeks ago. I saw that this, technically, was a level that the USD could quite reasonably trace back down to. Well, it's almost there.
However, not only is the 78 level going to offer some support but the 78.5 level is a previous strong level of S/R too. So, I'm thinking that, I'd want to see the USDX break below 78.5 before shorting it any further. Even then, it would probably be brief as I think the 78 level could be enough support to be a turning point here.
I had also mentioned that the EURX, technically, could re-trace back up to the 106 level. If the USDX turns soon though, this would probably cause the EURX to turn down in contrast. A turn on the EURX anytime soon would possibly cause the chart to print a 'double top' pattern. This, indeed, is a lovely technical pattern too.
Essentially then, I think that the USDX holds the clue for the next major trend and move with currencies. The 78.5 and 78 levels will be critical levels here to watch closely so as to gauge direction.
I suspect that these technical patterns, as well as fundamental issues such as doubt about the Greek debt crisis, are contributing to the current sideways action and ranging markets. it could continue to be a bit of a bumpy ride!
Wednesday 8/2/12 (1.30 pm)
Price has not moved on very far from the break out area on the indices. I will continue to wait to see if the breakout is indeed valid and the new trend remains 'risk on'.
I will not get back to my charts until after 5.30pm today...cricket pick up!
Wednesday 8/2/12 (6am)
A speech by Ben Bernanke and some hints of positive Greek debt news has sent the Euro up and the USD down. Both indices have broken out of their trading ranges now. As suspected, the FX fireworks came whilst I was asleep.
I thought I'd then see lost of TS signals on my charts. Interestingly, this is not the case at all. The LONG TS from last night on the E/J and A/J evolved. No surprises there. I don't have a signal to LONG the E/U, A/U or G/U yet, nor do I have signals to SHORT the USD/SGD, Swissie or Loonie, as would be expected for a rising EUR and falling USD. Hmmm. It's all very strange. To me, if feels like the Universal axis is a bit out of kilter and the planets are all trying to gain traction so as to work out what to do next! I suppose the markets are still waiting to see if the UK announces more Quantitative Easing and if there will ever be a final announcement about Greece.
How I'm going to play this. I'm going to see if these trend line breaks on the indices hold up. Then, I will wait for TS signals on the major pairs on the 4 hr charts. If TS signals don't evolve, and we go back to ranging then , at least I won't have lost. I know that I will have missed opportunities overnight to trade short tern using TS on 15 or 30 min charts. That's the price for living down here though.
Update: I did miss a 95 ~100 pip haul on the E/U overnight. This would have been an easy pick up for those who could trade during the US session using 15 min charts. There was a clear and conservative entry with only a small stop required. There was also confluence with the indices trend giving a clear direction.
Tuesday7/2/12 ( 9 pm)
The EURX looks like it might be about to break out and up. The USDX is still range bound though. I suspect that any action will probably evolve whilst I'm asleep! There are no TS signals forming just now that would tie in with a 'risk on' approach that would fit with a break up on the EURX though anyway. The exception here though is a very weak signal to LONG both the E/J and A/J that I would ignore until confirmation from the indices though.
Tuesday7/2/12 ( 5 pm)
Well, this is certainly 'paint drying' stuff guys. The indices are still ranging but the EURX seems to be getting a bit cramped. That is, if indeed it continues to conform to this wedge pattern. So, something might happen soon. I think the uncertainty about the Greek debt situation and the possibility of QE for the GBP is keeping people on the sidelines for the time being.
Please note that you need to click on the above images a number of times for them to enlarge. This is a function of the number of images loaded in each post.
Tuesday7/2/12 ( 9 am)
Little has changed since earlier this morning. I have adjusted the bottom trend line on my EURX chart though to better reflect the strong support offered by the psychological level of 102, the level which is also the monthly pivot.
I had mentioned in my technical analysis over the w/e that the EURX looked like it was giving off bullish signals. This sentiment may still well evolve. The slightest hint of any good news concerning the Greek debt talks could fuel such a move. I will definitely be waiting to see both of the indices break out of their trading zones before being confident of any new trend. Whilst I may have views about which way I think things should move, I will trade what the charts tell me!
There is a lot of red flag scheduled news this week. There is AUD data out later today. Keep an eye on your trading calendar.
Tuesday7/2/12 ( 6.30am)
The indices failed to clear their narrow trading ranges so, we have yet more sideways action. The USDX failed to close up above the 79.5 area and the EURX failed to close below the monthly pivot. Like I said last night, I'm not confident of any new trend until these areas are breached. The continued Greek debt uncertainty seems to be contributing to this FX indecision which is hardly surprising.
Monday 6/2/12/ (9pm)
The USDX has broken and closed above the bear trend line but has yet to close above last week's range bound area.
Similarly, the EURX has broken down and out from the symmetrical triangle but is struggling to close below the monthly pivot. It looks, therefore, like it is back to 'risk off'. This is probably due mostly to the recent Greek debt talk uncertainty.
I have had TS signals to SHORT the E/U & G/U and to LONG the Swissie. These are all correlated though and I'd like to see the EURX break the monthly pivot and the USDX its range bound area before being confident this trend will continue.
Monday 6/2/12 (6.30 pm)
Still no TS signals just yet. It might take until after the Greek debt talks for momentum to build. Almost a signal on E/U and Swissie though.
I've just got an 'all clear' on some significant medical tests so, I'm rather over joyed here. More after the 9pm candle.
Monday 6/2/12 (4 pm)
It still looks like the USDX is on the march upwards and that there is downward pressure on the EURX. There are no TS signals just yet but the E/U is almost lining up for a SHORT. The signal has not evolved fully yet though even though we've had a trend line break. There are some obstacle in its path though too.
I won't be around for the 5pm candle update as I have to go to the doctor. I'll update when I can though.
Monday 6/2/12 (1 pm)
No TS signals yet. The EURX looks like its trying to break down and the USDX trying to break up. I have another 2 hrs before the first 4 hr candle close on my indices charts though. The failed Greek debt talks and some poor spending data out of China seem to be weighing on the market.
Monday 6/2/12 (11.30am)
We've just had 2 bits of data out here. Retails sales were poor but job ads are up, so, it was a mixed bag. It might take a while for the markets to work out how to interpret this result. Currently, it's looking like there has been a return to 'risk off' with a rising USD and falling EUR etc but it is still early yet. I have another 90 min until my first candle close and will update then. There are no new TS signals yet.
Sunday 5/2/12
Last week was not a week for long term (4hr chart) trend trading. It was a week for trading off bounces and for trading off shorter time frames. TS only delivered 3 signals off 4 hr charts for the entire week and, thus, kept me out of potentially losing trades. TS delivered a lot of signals though on the shorter time frame charts. It's like fishing guys; sometimes the bream are running, at other times it's marlin and at others it's whitebait! You can't catch fish that aren't there and you can't catch trends when they're not there either. Having the patience and discipline to accept this is crucial for successful trading. There were a gazillion pips to be made trend trading over recent weeks and the trends do not last for all 52 weeks of the year. You will often get periods of pause, or consolidation, following such good trends. The charts of a number of pairs for this week reflect this consolidation quite clearly as do the EURX and USDX. (please see these charts on my Indices Review post.)
OK...this is annoying for me. Nothing has happened for 2 weeks. Things look like they're starting to get impatient and move now though, just as I pack up to head off for the weekend.
I'm posting charts of things that look like they're worth watching. I'm a bit naughty as I jumped into a LONG on the USD/SGD earlier before confirmation via the USDX. I do have a TS signal to LONG this pair though. Time will tell if this is an expensive deviation!
You may need to click on chart images a few times to get them to enlarge.
I'm not back now until Sunday afternoon.
E/U: Could turn down but 1.36 still achievable
E/J: Looking bearish to me but could break out and up and keep going. Is at a critical level me thinks!
Friday 10/2/12 (5.30 am)
Well, all I can say is that I'm glad I didn't wait up for the GBP data to come out. FX, as well as stocks, continued to trade sideways overnight. It seems the relatively good data out of UK and USA is having difficulty gaining traction because of the continued unease about the Greek debt problems. It's a case of one "step forward and one step back" so, we end up going nowhere! There have been 2 x 4hr candles on the USDX that have closed at just under the all important 78.5 level. They don't stay down there long though and it is trading at 78.55 as I write this now!
I am away from later this afternoon until Sunday afternoon so I may not be able to post much, or anything, during that period. I will post my Indices Review on my Sunday afternoon/evening. Given the behaviour of this pair so far though I suspect that this report will be rather short!
I will post a bit more later about what I'm looking for with certain pairs. For now, I'm off to look, yet again, for my son's stupid Cadet cap!
PS: I just noted these moves on the Yen pairs. Whoa! The BoJ must be behind this action. Started over night.
Thursday 9/2/12 (9 pm)
Have a guess where the USDX is sitting. You're correct: the 78.5 level! Little has changes, as expected. It seems that the markets are paused, waiting for data due out overnight from the US and UK. FX Live is reporting a lot of social unrest in Greece though and rising unemployment. Hardly good news but it will be interesting to see how the markets react to the remaining swathe of data.
Gold and Silver are hugging their bear trend lines and the Swissie and USD/SGD are still trading within their tight ranges. I'm sure I'll wake tomorrow to see that I have missed most of the action.
Thursday 9/2/12 (5 pm)
Ho hum. Not much has changed. The USDX is trying to break below the 78.5 level though as I write. Time will tell if it succeeds!
Thursday 9/2/12 (2 pm)
Still not much change with the indices. I'm waiting for a clear indication on the USDX as to what the next trend will be. A break below the 78.5/78 level will be 'risk on' with SHORT USD and LONG EUR/AUD etc. A clear break up from the 78 level with be the reverse, that is, 'risk off' with LONG USD trades being sought.
BTW: Looking back, so far this week, the best trade was yet another that I missed as it kicked in over Monday night on the E/J for over 130 pips. This was a trend line break as well so would have been an easy pick up for those who were awake then!
Thursday 9/2/12 (9am)
The USD has barely moved. I really think it will trade sideways until after the GBP news tonight (8.30 and 11pm Sydney time). Chinese data at 12.30pm might give the A/U and A/J a push as well. The Swissie and the SGD continue to trade sideways as well.
Thursday 9/2/12 (6am)
It is SO nice to wake up to find that little has changed overnight. Continued uncertainty about the Greek debt issue resulted in further choppy trade, both in FX and stocks. I really think that it will take the GBP news lter tonight re: interest rates and QE to cause some movement.
The USDX is still trading just above the 78.5 level and the EURX at around the 103.5 level just under the monthly R1 pivot. Both of these are key levels for the indices.
Wednesday 8/2/12 (9 pm)
Well, I have been on about the importance of the 78.5 level today and, I've just spent the last few hours watching an almighty battle of price at that level. Sounds pathetic, doesn't it. I had an MRI over the w/e and I can safely guarantee you that my brain is intact, well developed and functioning at a high level so, no, I'm not crazy! Price is currently back up above the critical 78.5 level but, only just.
I'm not about to take any 4hr chart trend trades whilst both indices are at such critical levels. There is always the threat of Euro zone news to further complicate matters too. If indeed, the USDX does turn back up then I will have time to get into new trend trades in the coming days. If price keeps falling from this point on now though, I will miss continuation trend trades as they will develop much more quickly. Again, this is the issue with living down here in Australia. I continue to emphasise that these ranging markets, that we have had now for almost 2 weeks, are more suited to short term trend trading, if you can, or, trading off bounces (which I don't do!)
Wednesday 8/2/12 (5 pm)
Ok, I'm back from cricket pick up. I see the USDX is trying to break down through the 78.5. Please read my 2.30 pm notes here. I want to see a close below 78.5 before I will short the USD and, thus, LONG the EUR/AUD etc.
These are the two I have my eye on for breaks (down below trend lines) should the USDX continue to fall:
Wednesday 8/2/12 (2.30 pm)
I'm just looking at the USDX again. Why? because I can! We are getting very close to the 78 level that I first pointed out a few weeks ago. I saw that this, technically, was a level that the USD could quite reasonably trace back down to. Well, it's almost there.
I had also mentioned that the EURX, technically, could re-trace back up to the 106 level. If the USDX turns soon though, this would probably cause the EURX to turn down in contrast. A turn on the EURX anytime soon would possibly cause the chart to print a 'double top' pattern. This, indeed, is a lovely technical pattern too.
Essentially then, I think that the USDX holds the clue for the next major trend and move with currencies. The 78.5 and 78 levels will be critical levels here to watch closely so as to gauge direction.
I suspect that these technical patterns, as well as fundamental issues such as doubt about the Greek debt crisis, are contributing to the current sideways action and ranging markets. it could continue to be a bit of a bumpy ride!
Wednesday 8/2/12 (1.30 pm)
Price has not moved on very far from the break out area on the indices. I will continue to wait to see if the breakout is indeed valid and the new trend remains 'risk on'.
Wednesday 8/2/12 (6am)
A speech by Ben Bernanke and some hints of positive Greek debt news has sent the Euro up and the USD down. Both indices have broken out of their trading ranges now. As suspected, the FX fireworks came whilst I was asleep.
I thought I'd then see lost of TS signals on my charts. Interestingly, this is not the case at all. The LONG TS from last night on the E/J and A/J evolved. No surprises there. I don't have a signal to LONG the E/U, A/U or G/U yet, nor do I have signals to SHORT the USD/SGD, Swissie or Loonie, as would be expected for a rising EUR and falling USD. Hmmm. It's all very strange. To me, if feels like the Universal axis is a bit out of kilter and the planets are all trying to gain traction so as to work out what to do next! I suppose the markets are still waiting to see if the UK announces more Quantitative Easing and if there will ever be a final announcement about Greece.
How I'm going to play this. I'm going to see if these trend line breaks on the indices hold up. Then, I will wait for TS signals on the major pairs on the 4 hr charts. If TS signals don't evolve, and we go back to ranging then , at least I won't have lost. I know that I will have missed opportunities overnight to trade short tern using TS on 15 or 30 min charts. That's the price for living down here though.
Update: I did miss a 95 ~100 pip haul on the E/U overnight. This would have been an easy pick up for those who could trade during the US session using 15 min charts. There was a clear and conservative entry with only a small stop required. There was also confluence with the indices trend giving a clear direction.
The EURX looks like it might be about to break out and up. The USDX is still range bound though. I suspect that any action will probably evolve whilst I'm asleep! There are no TS signals forming just now that would tie in with a 'risk on' approach that would fit with a break up on the EURX though anyway. The exception here though is a very weak signal to LONG both the E/J and A/J that I would ignore until confirmation from the indices though.
Tuesday7/2/12 ( 5 pm)
Well, this is certainly 'paint drying' stuff guys. The indices are still ranging but the EURX seems to be getting a bit cramped. That is, if indeed it continues to conform to this wedge pattern. So, something might happen soon. I think the uncertainty about the Greek debt situation and the possibility of QE for the GBP is keeping people on the sidelines for the time being.
Tuesday7/2/12 ( 9 am)
Little has changed since earlier this morning. I have adjusted the bottom trend line on my EURX chart though to better reflect the strong support offered by the psychological level of 102, the level which is also the monthly pivot.
There is a lot of red flag scheduled news this week. There is AUD data out later today. Keep an eye on your trading calendar.
Tuesday7/2/12 ( 6.30am)
The indices failed to clear their narrow trading ranges so, we have yet more sideways action. The USDX failed to close up above the 79.5 area and the EURX failed to close below the monthly pivot. Like I said last night, I'm not confident of any new trend until these areas are breached. The continued Greek debt uncertainty seems to be contributing to this FX indecision which is hardly surprising.
The USDX has broken and closed above the bear trend line but has yet to close above last week's range bound area.
I have had TS signals to SHORT the E/U & G/U and to LONG the Swissie. These are all correlated though and I'd like to see the EURX break the monthly pivot and the USDX its range bound area before being confident this trend will continue.
Monday 6/2/12 (6.30 pm)
Still no TS signals just yet. It might take until after the Greek debt talks for momentum to build. Almost a signal on E/U and Swissie though.
I've just got an 'all clear' on some significant medical tests so, I'm rather over joyed here. More after the 9pm candle.
Monday 6/2/12 (4 pm)
It still looks like the USDX is on the march upwards and that there is downward pressure on the EURX. There are no TS signals just yet but the E/U is almost lining up for a SHORT. The signal has not evolved fully yet though even though we've had a trend line break. There are some obstacle in its path though too.
Monday 6/2/12 (1 pm)
No TS signals yet. The EURX looks like its trying to break down and the USDX trying to break up. I have another 2 hrs before the first 4 hr candle close on my indices charts though. The failed Greek debt talks and some poor spending data out of China seem to be weighing on the market.
Monday 6/2/12 (11.30am)
We've just had 2 bits of data out here. Retails sales were poor but job ads are up, so, it was a mixed bag. It might take a while for the markets to work out how to interpret this result. Currently, it's looking like there has been a return to 'risk off' with a rising USD and falling EUR etc but it is still early yet. I have another 90 min until my first candle close and will update then. There are no new TS signals yet.
Sunday 5/2/12
Last week was not a week for long term (4hr chart) trend trading. It was a week for trading off bounces and for trading off shorter time frames. TS only delivered 3 signals off 4 hr charts for the entire week and, thus, kept me out of potentially losing trades. TS delivered a lot of signals though on the shorter time frame charts. It's like fishing guys; sometimes the bream are running, at other times it's marlin and at others it's whitebait! You can't catch fish that aren't there and you can't catch trends when they're not there either. Having the patience and discipline to accept this is crucial for successful trading. There were a gazillion pips to be made trend trading over recent weeks and the trends do not last for all 52 weeks of the year. You will often get periods of pause, or consolidation, following such good trends. The charts of a number of pairs for this week reflect this consolidation quite clearly as do the EURX and USDX. (please see these charts on my Indices Review post.)
Anyway, this is what I'm seeing on the charts for the few pairs that I watch. Please read my Indices Review first though to learn how I will be assessing the market trend for this coming week. I will watch to see what sentiment continues for this week and then I will trade what I see, whether that be LONG or SHORT on a pair is irrelevant. It is my firm belief that you cannot trend successfully until you accept and internalise this required flexibility of mind-set.
EUR/USD
Displays a triangle pattern, as for the EURX. This kind of wedge pattern is often referred to as a continuation pattern. That is, technical theory would suggest further up move. I still don't get this whole move though but, trade what you see guys! I will be waiting to see whether the sentiment is 'risk on' or 'risk off' and then I'll look for a breakout, either up or down, from this triangle, PLUS a new TS signal.
EUR/JPY
Has broken out and up from a triangle pattern already. I smell BoJ stuff here though. No TS LONG signal though yet. Will watch it though.
AUD/USD
The A/U and A/J seem to be marching to a different drum of late. They seem to have gone off in a huff together, happy to do their own thing, leaving the other pairs squabbling and arguing about who is to fault for all of the mess. I missed a TS signal to LONG this on Friday after the NFP news. I will keep watching and try to get in when I see fit if sentiment holds.
AUD/JPY
Same as for the A/U.
GBP/USD
This one has me stumped....it looks like a breakout to the SHORT side. So, I'm leaving it for now. I know people like this...too complex...too many issues...too hard to read...so, I leave them too!
USD/SGD
I love this pair. So transparent. No issues and straightforward! Definitely not a female! As for the Aussie pairs, missed a TS signal to SHORT after NFP last Fri. Will look to get in if sentiment holds on market open.
USD/CHF: The Swissie
Stuck in a narrow trading range all last week. will watch and wait to see if it breaks from this range and look for the corresponding TS signal.
USD/CAD: The Loonie
Has broken down from a symmetrical triangle on the daily chart. Not a favourite of mine at all but looks like setting up for a SHORT.
Silver and Gold
To me, they look bearish. This would make sense if confidence and the 'risk on' sentiment continues. People will look to put their money into stocks and AUD etc. Trend line breaks and TS signals will help to decide here though.
I'll update after the market opens and something is there to report.
No comments:
Post a Comment