Tuesday, 24 November 2009
My Forecast
15:19GMT looks like range bound good for 1 min stratgy.
10:40GMT Hope those who are into 1min ENV 44 & 88 made min 10 trades (of 8-10 pips) today
10:10GMT GOLD breaking to new highs - next fibo series stop at 1170 region
09:40GMT BUY entry GBPJPY 146.30-00 target 146.54-70 [*****]
08:30GMT GBPJPY BUY below 146.40 target 146.60-70 [** reached 70 from 45]
08:20GMT GBPJPY Drop may stop at 146.00s check the BUY level & oversold status in the LONG:SHORT ratio (new post below)
06:40GMT After seeing BOJ's remarks today I'm thinking about BOE next QE, think about UK citizens spending money in newyork on their credit cards with BOE QE. I can't help seeing the funny side of this and effects on GBPUSD. A small USD strength is predicted into end of this week or early next week as thanksgiving shopping numbers comes-out.
06:40GMT EU data release - trade with the trend no forecasts
04:10GMT I made a GOLD sell@1163.57 first target 1160 and second 1156. If Gold hits 1166.40 I'll do another SELL with same targets.
04:00GMT GBPs planning to go UP by 40-50 pips now 147.28 & 1.6569
03:40GMT Market is getting ready for rocking moves - US GDP @13:30GMT so careful with small trades. It is advised to look the BUY/SELL table before you plan your day's strategy
02:00GMT EURUSD pegging to go UP - take SHORTs from above 1.4990 for 80 PIPs down for "today"
02:00GMT USDJPY BUY below 88.80 target 89.10 above
00:00GMT Good Morning Friends, I know everybody was fustrated like 000s of traders yesterday - slow/no consolidation for hours. But I guess you're back with smile. We are back to yesterday's level. USD weakening is a known issue and if you check the history USD always weakens during christmas period. There is a reason for it - Retail sales. People from europe book flights and do shopping in newyork. So don't expect a strong USD for next 30 days.
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small smile, every 20 pips down the smile grows.
ReplyDeleteI never mentioned that I was fustrated - I made a 490 pips trade yesterday - GOLD:D:D:D:D one of the best trades in my career and did exactly that I commented in Dr's blog
ReplyDeleteNot frustrated, but I don't like to have too many positions open when I have several going against me. I like them to resolve first. So it was a slow day. 36 pips booked. (which used to be great, now it is just slow,lol)
ReplyDeleteI do average once or twice and then just have to hold on.
Did you see my post about fxcm writing an envelope indicator for me?. but so far they only have the offset as 100 divided by 5. I am seeing if they can get it exact.
nice plan - make fxcm work for their bread ..;D
ReplyDeleteCongrats Jackie for all win on yesterday's 1 min env 44 & 88 channel trades - happy to hear good & bad news on this strategy - tweak the channel width to suit your brokers (takecare of the flash stophunt prices)
ReplyDeleteHow important is slope and overall direction to the 1 min envelopes. Right now at 1211gmt for g/u for instance. Great upper blue hit but the entire direction is turning up. Does that negate the short? Or are the buy sell levels the overriding concern?
ReplyDeletewhen the price hits blue line thats the limit; when blue channel direction been UP for a while then expect a down trend. It depends on where the green channel lies. Check the UPPER segment gap if it is more than 10 pips then certainly a sell.
ReplyDeleteif price is pushing up outside of the 44 do you wait for it to re-enter/cross the 44 to enter the trade?
ReplyDeleteyou can see the L_Green line crossing L_Blue. as soon as L_Green crosses L_blue it almost touched the highest of high for next 20-40 mins. But this may differ from broker2broker so running it with you broker and record the behaviour.
ReplyDeleteAdd rsi(14) for your entries
ReplyDelete