My EUR/CAD long triggered today...
I am long EUR/CAD @ 1.3420 (100 pip stop loss).
All other trades remain open.
Friday, 18 February 2011
Trade No 4 - EUR/USD
The key support/resistance level at 1.3500 has managed to hold again, so I have placed another order.
I am long EUR/USD @ 1.3600
Latest on the Euro:
My GBP/USD and AUD/USD trades are still open and are looking a little healthier now!
I am long EUR/USD @ 1.3600
Latest on the Euro:
My GBP/USD and AUD/USD trades are still open and are looking a little healthier now!
Tuesday, 15 February 2011
Trade No 3 - GBP/USD
Friday (11th) and Monday (14th) didn't manage to break the 1.6000 level so I decided to get long on GBP/USD.
I am long @ 1.6100 (currently up 25 pips).
So far, this year hasn't been great to me. Made a couple of £££ from Euro shorts that were running from last year but other than that things have been very slow. I was hoping that today's UK CPI announcement and Eurozone GDP results might have the market moving again but so far not much has happened. Boring!
It's times like these I get a bit itchy and think I should have been an intraday trader... but I would have probably gone bust by now if I had!!
Still no position on the EUR/USD... she seems to have found some "value" around 1.3500 which makes for boring trading too!
I am long @ 1.6100 (currently up 25 pips).
So far, this year hasn't been great to me. Made a couple of £££ from Euro shorts that were running from last year but other than that things have been very slow. I was hoping that today's UK CPI announcement and Eurozone GDP results might have the market moving again but so far not much has happened. Boring!
It's times like these I get a bit itchy and think I should have been an intraday trader... but I would have probably gone bust by now if I had!!
Still no position on the EUR/USD... she seems to have found some "value" around 1.3500 which makes for boring trading too!
Monday, 14 February 2011
EUR/USD Thoughts
I'm not entirely convinced on the direction of the Euro at the moment. Price action has been fairly bullish lately but fundamentally I just can't see an uptrend being sustained in the long term.
I am still considering a buy... today's candle still has the potential to finish higher - and a hammer formation would be a signal that I would take.
However, looking from the H4 chart I get the sense that price is continuing to break down...
So I am going to be a little bit greedy and prepare to trade a breakout in either direction!
I am still considering a buy... today's candle still has the potential to finish higher - and a hammer formation would be a signal that I would take.
However, looking from the H4 chart I get the sense that price is continuing to break down...
So I am going to be a little bit greedy and prepare to trade a breakout in either direction!
Trade No 2 - AUD/USD
Far from a perfect trade but I am looking for further upside on the AUD/USD.
I am long AUD/USD @ 1.0040 (100 pip stop).
It's currently sitting about 13 pips in the red which is not good; but I am going to hold on and see what happens!
Edit: Stop was missed by only 3 pips! Trade hangs in there at the moment... just!
I am long AUD/USD @ 1.0040 (100 pip stop).
It's currently sitting about 13 pips in the red which is not good; but I am going to hold on and see what happens!
Edit: Stop was missed by only 3 pips! Trade hangs in there at the moment... just!
Sunday, 13 February 2011
The Week Ahead (w/c 14th February 2011)
* Please note this is not trade advice... just thoughts of what I might do next week. *
My attempt to buy EUR/USD got stopped out at breakeven at the end of last week... I may have moved my stop too quickly. If price remains above 1.3500 I will be looking to buy again on Monday.
GBP/USD ended the week just above 1.6000 and may well be a potential buy if price continues to move up from here.
USD/CHF and USD/JPY have both retraced 100% of their last leg down which is normally a sign of weakness in the trend. If this is true it signals USD strength which may mean I will have to revise my strategy for both my EUR/USD and GBP/USD setups.
USD/CHF and USD/JPY appear to have found resistance... after several weeks without much direction I have a feeling that this week will show us the way forward:
We also have a possible trade on AUD/USD. Price remains above 1.0000 and last Friday saw this level retested after breaking out on the 1st February. Friday's candle formed a small "hammer" and may signal an attempt to move up again.
My attempt to buy EUR/USD got stopped out at breakeven at the end of last week... I may have moved my stop too quickly. If price remains above 1.3500 I will be looking to buy again on Monday.
GBP/USD ended the week just above 1.6000 and may well be a potential buy if price continues to move up from here.
USD/CHF and USD/JPY have both retraced 100% of their last leg down which is normally a sign of weakness in the trend. If this is true it signals USD strength which may mean I will have to revise my strategy for both my EUR/USD and GBP/USD setups.
USD/CHF and USD/JPY appear to have found resistance... after several weeks without much direction I have a feeling that this week will show us the way forward:
We also have a possible trade on AUD/USD. Price remains above 1.0000 and last Friday saw this level retested after breaking out on the 1st February. Friday's candle formed a small "hammer" and may signal an attempt to move up again.
Wednesday, 9 February 2011
Trade No 1 - EUR/USD
The market has been very slow since the start of the year with many existing trends slowing or changing. I feel the Euro has now turned up and am starting to look to buy.
This is the first trade I have entered since the trend turned up.
I am long EUR/USD @ 1.3600 (100 pip stop) after price rejected the 1.3500 area.
This is the first trade I have entered since the trend turned up.
I am long EUR/USD @ 1.3600 (100 pip stop) after price rejected the 1.3500 area.
Edit: 10th February 2011 - Trade closed at breakeven.
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