» 2005 » October

The Dollar is still in a long term downtrend. Yesterday we had a short term bull movement but the weekly and daily charts didn’t change.
The consolidation is very difficult to trade because we have a reversal trend every day.

Today I follow the short term trend on USDCHF with a short at 1.2775 (stop -20pips). USD CHF is the only pair with a clear configuration.
I think that trade is really dangerous, I use 1:1 leverage.

EUR USD is in a large triangle pattern. Currently the price is just bellow the resistance. It could be a good entry point for a short.
I didn’t propose to sell Euro Dollar in the analysis because the risk is too hight.

Today I put a buy order on USDJPY at 115.10 (stop 114.80 - 30pips). 115.10 is an important support for the uptrend.

I would like to show you an EURUSD long term chart. I expect a great bear trend if the price break 1.1800/1.1850. The target could be 1.1000 (approx 800 pips). I’m waiting for a signal to sell Euro Dollar… If the price follows my analysis, then we should cumulate our positions.

Currently I have NO SELL SIGNAL. We should waiting.

I start the week with three trades :

• Short EUR USD leverage 1:1
• Short GBP USD leverage 1:1
• long USD JPY leverage 1:1

I was stopped on each position and I lose the profits of last friday. EUR USD and GBP USD are in a range, the trades are really speculative and it is not interesting because I cannot cumulate the positions.
Take care and put your stop loss.

I move the stop loss for actual position.

This morning I sell EURUSD at 1.2050, I move my stop to 1.2040 (+10 pips).

I buy USDJPY at 115.10, I move my stop to 115.20 (+10 pip).
There is no risk now.

edit (14h10 GMT+02) :
New stop loss

• EURUSD 1.2035 (+15)
• USDJPY 115.30 (+20)

edit (17h45 GMT+02) :
Ouch… I move my stops too quickly

• EURUSD stopped : +15 pips
• USDJPY still long : stop at 115.60 (+50 pips)

last edit :
I cut USDJPY at 115.91 : +81 pips

Have a nice break.

2 trades, 2 loses.

Yesterday I short GBPUSD whereas the ForexTrend indicator was bull. It was a big mistake, I lose 30 pips.

USDJPY is always in a bull trend, 115.50 was not a good entry, I’ll try with 115.10 (stop -30 pips).

My order on EURUSD (sell at 1.2050) was executed, this trade is very speculative because there is no trend. I use 1:1 leverage. The reward/risk is good i think we could touch 1.1950.

The market is not clear and very speculative, i use small leverage.

One reader told me if I have a SMS service. Currently I do not have this option but if you are enougth I can add SMS alert. Of course it could not be free.

• Each SMS will be sold 20 to 40 cents. I search for the best and the cheapest platform.
• You buy an SMS pack (100 SMS for example)
• I send SMS only if i suggest a trade.

You are interested? please tell me. I’ll launch this service only if there are enougth subscribers.

USDJPY is in a medium term uptrend, GBPUSD is in a range. The trading plans are different: trend following and swing trading.

I buy USDJPY at 115.50 with a stop loss at 115.20 (-30pips). USDJPY is in a nice trend since September, the target could be at 118.00, I think we have a good opportunity, the risk is low. The price have a good support near 115.40/30, the volatility is low. USDJPY is not my favourite pair but it’s the only trend actually. We are in a uptrend near a support, I use leverage 2.
Actually the trade is flat (-3 pips).

I Sell GBPUSD at 1.7667 with a stop loss at 1.7697 (-30pips) leverage 1. The range is clear, the price is really overbought; my daily fx trend indicator is bear. We have a good opportunity to play the return on 1.7450. There is no trend and the resistance is not really clear, I use leverage 1.
After 1 hour my stop loss was executed. -30 pips

Today the market is boring, the price doesn’t move at all.
I received an email because I don’t give the interest rates of the countries. I don’t know where I could find that information but I’m going to search :)