Note: I have posted 2 reviews today, Saturday 25/2/12. My Indices Review and my Trading Week Analysis. Only one e-mail alert will be sent though most likely. Please make sure that you read the Indices Review so that you understand my perspective for the week.
E/J: I'm still LONG on the E/J from 104.9. I've locked in 350 pips and my stop is currently at 108.4. There isn't much blocking its path from further upward movement either! News and Euro zone issues etc always are potential reversal triggers though so I am cautious.
A/J:I'm LONG on the A/J from 86. This is a major break out for this pair although it is still early days yet. The break out appears on the daily candle but could retrace a bit and then close within the triangle on subsequent weekly and monthly chart prints. At this stage though, this is major break and indicative of significant 'risk on' appetite!
E/U: I will look to get in LONG on this pair if 'risk on' continues and it can clear the daily 200 EMA. Otherwise, I will look for new TS signals to go SHORT if the trend reverses and it fails to break above the daily 200 EMA.
A/U: TS kept me out of some dud trades on this pair this week. Thank you TS!. This pair seems like it's waiting to hear the results of the Prime Ministerial challenge scheduled for Monday. I will look for a new TS signal and a break out, either up or down, from this triangle pattern. I suspect it might break up though if 'risk on' continues and we finally sort who is going to run the country!
Swissie: This pair was highlighted as one to watch last week and has also now broken out and down from a trading channel and has already moved 150 pips. This is a major break though and I will look to get in for a SHORT if the current trend continues.
Gold: This pair has already moved 400 pips from the trend line break out I warned people to watch for last week. It is looking quite bullish though which would be more due to a falling USD than to a rise in fear. The current pattern on the weekly chart looks, to me, like a break out upwards from a bull flag pattern.
Silver: This metal has also moved 100 pips or so from the trading channel break out I had been watching for. The weekly chart of this metal also looks like a bullish break out from a symmetrical triangle.
USD/SGD: This pair hasn't done much for the last week but I will keep watching it though. Nothing to interest me at the moment though with this pair, from a technical perspective that is.
Loonie: The Loonie is doing little to get me interested either.
U/J: I'm still annoyed that I missed this LONG trade on the triangle break out last week. I might look to get in for a LONG, if it keeps going, after a break and close above the 82 level. I'm wary of this pair though...a falling USD and rising U/J...odd!
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