2 trades today, 2 winners.
Month to date 15 winners 5 losers ROI 19%.
See my trades at forexfactory under useful links where trades and charts are posted.
Friday, July 30, 2010
Todays returns
Late post for 29 July.
2 trades today, 2 losers.
Month to date 13 winners 5 losers ROI 15.5%.
See my trades at forexfactory under useful links where trades and charts are posted.
2 trades today, 2 losers.
Month to date 13 winners 5 losers ROI 15.5%.
See my trades at forexfactory under useful links where trades and charts are posted.
Fxpro Info
EUR/USD
Thursday's strength completed a bull pennant and is within a whisker of testing key 1.3120/25 resistance area. This area incorporates the 38.2% retracement level of the 1.5145/1.1876 decline and the measured objective of an inverse head-and-shoulders base pattern, and only a fresh wave of bull pressure will manage to force a clean break above there, opening 1.3150 and 1.3200. Support lies at 1.3047, but only below the bull pennant termination low at 1.2969 would concern bulls.
GBP/USD
Maintains the dominant short-term uptrend having set a fresh five-month high at 1.5661 Thursday, and is approaching the key 1.5700 resistance area. A weakening in bull momentum can be seen, so only a fresh wave of bull pressure would force a clean break through 1.5700, opening 1.5814. Weakness should be limited to the 1.5510/25 support area, which is protected by 1.5548.
Thursday's strength completed a bull pennant and is within a whisker of testing key 1.3120/25 resistance area. This area incorporates the 38.2% retracement level of the 1.5145/1.1876 decline and the measured objective of an inverse head-and-shoulders base pattern, and only a fresh wave of bull pressure will manage to force a clean break above there, opening 1.3150 and 1.3200. Support lies at 1.3047, but only below the bull pennant termination low at 1.2969 would concern bulls.
GBP/USD
Maintains the dominant short-term uptrend having set a fresh five-month high at 1.5661 Thursday, and is approaching the key 1.5700 resistance area. A weakening in bull momentum can be seen, so only a fresh wave of bull pressure would force a clean break through 1.5700, opening 1.5814. Weakness should be limited to the 1.5510/25 support area, which is protected by 1.5548.
Tuesday, July 27, 2010
Todays returns
2 trades today, 2 winners.
Month to date 13 winners 3 losers ROI 18.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 13 winners 3 losers ROI 18.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Monday, July 26, 2010
Todays returns
3 trades today, 2 winners, 1 losing.
Month to date 11 winners 3 losers ROI 16.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 11 winners 3 losers ROI 16.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Friday, July 23, 2010
Todays returns
2 trades today, 1 winner, 1 losing. 2 trades yesterday, 2 winners.
Month to date 9 winners 2 losers ROI 13.8%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 9 winners 2 losers ROI 13.8%.
See my trades at forexfactory under useful links where trades and charts are posted.
Exit strategy
Mrs V has agreed to a slight TP change as we are missing out on way too many big moves.
7-9 am gmt exits will be taken at key levels due to the small ranges in Frankies hour that typically exist.
After 9 am gmt we will look for the FH/LO range to break (there is typically a head fake move in that time). Once that has happened we will look to bank 50-75% of trade at a key level, stop to BE. We will look to re-enter with full trade size hl/lh's in line with move. Again exiting 50/75% at next key target. Moving stop from original position along.
This alows scaling without risk exceeding 1.5%.
We will endeavour to trade through news events.
This may only be started after August holidays.
7-9 am gmt exits will be taken at key levels due to the small ranges in Frankies hour that typically exist.
After 9 am gmt we will look for the FH/LO range to break (there is typically a head fake move in that time). Once that has happened we will look to bank 50-75% of trade at a key level, stop to BE. We will look to re-enter with full trade size hl/lh's in line with move. Again exiting 50/75% at next key target. Moving stop from original position along.
This alows scaling without risk exceeding 1.5%.
We will endeavour to trade through news events.
This may only be started after August holidays.
Tuesday, July 20, 2010
Todays returns
2 trades today, 1 winner, 1 break even.
Month to date 6 winners 1 loser ROI 11.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 6 winners 1 loser ROI 11.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Fxpro Info
EUR/USD
Monday's recovery off 1.2871 will look to extend Tuesday to put last Friday's peak at 1.3008 under pressure. A break above there is favoured at this stage, opening 1.3055 and congested resistance at 1.3095, incorporating both a wave equality target and the May 10 lower high. Failure to break above 1.3008 would suggest more lateral consolidation is required prior to an upside break, prompting a drift back towards the 1.2871 low.
GBP/USD
Failure to keep former range highs at 1.5230 intact is an indication of GBP weakness, and while 1.5283 caps the upside, there is scope for renewed bear pressure on support at 1.5205. A break below there would unveil the downwave equality target at 1.5158, which lies close to the 61.8% retracement level of the 1.4949/1.5470 rally, at 1.5145. Above 1.5283 would lift the tone, but only regaining ground above the 1.5349 lower high would suggest a return to the 1.5470 is possible.
Monday's recovery off 1.2871 will look to extend Tuesday to put last Friday's peak at 1.3008 under pressure. A break above there is favoured at this stage, opening 1.3055 and congested resistance at 1.3095, incorporating both a wave equality target and the May 10 lower high. Failure to break above 1.3008 would suggest more lateral consolidation is required prior to an upside break, prompting a drift back towards the 1.2871 low.
GBP/USD
Failure to keep former range highs at 1.5230 intact is an indication of GBP weakness, and while 1.5283 caps the upside, there is scope for renewed bear pressure on support at 1.5205. A break below there would unveil the downwave equality target at 1.5158, which lies close to the 61.8% retracement level of the 1.4949/1.5470 rally, at 1.5145. Above 1.5283 would lift the tone, but only regaining ground above the 1.5349 lower high would suggest a return to the 1.5470 is possible.
Monday, July 19, 2010
Fxpro Info
EUR/USD
Consolidates off Friday's peak at 1.3008 to correct the bull wave off 1.2522, but support is likely to emerge above 1.2850 as the short-term uptrend remains decisively strong. The main threat is for a break above the 1.2955 lower high to open the 1.3008 high, creating room for further gains towards wave equality at 1.3095. The 1.2805 area provides the downside limit for corrective weakness.
GBP/USD
Friday's inside day tests key support at 1.5230, but this area is expected to survive during Monday's session and prompt a recovery back towards last week's bullish outside week high at 1.5470. A break above 1.5400 is required to lift the tone and open the 1.5445 lower high, which stands in the way of the 1.5470 peak. Only a sustained break below 1.5230 would concern bulls at this stage, exposing 1.5209 and 1.5191.
Consolidates off Friday's peak at 1.3008 to correct the bull wave off 1.2522, but support is likely to emerge above 1.2850 as the short-term uptrend remains decisively strong. The main threat is for a break above the 1.2955 lower high to open the 1.3008 high, creating room for further gains towards wave equality at 1.3095. The 1.2805 area provides the downside limit for corrective weakness.
GBP/USD
Friday's inside day tests key support at 1.5230, but this area is expected to survive during Monday's session and prompt a recovery back towards last week's bullish outside week high at 1.5470. A break above 1.5400 is required to lift the tone and open the 1.5445 lower high, which stands in the way of the 1.5470 peak. Only a sustained break below 1.5230 would concern bulls at this stage, exposing 1.5209 and 1.5191.
Friday, July 16, 2010
Fxpro Info
EUR/USD
Thursday's strength extends the strong near-term bull trend to validate the break above a seven-month bear trendline around 1.2750, and resistance at 1.2955 is set to come under fresh pressure. The psychological 1.3000 level looms ahead, but with a cluster of upside targets in the 1.3095/1.3120 area suggests there is scope for a push above 1.3000. Corrective weakness will attract support while above 1.2830, which protects the 1.2811 higher intraday low.
GBP/USD
Bulls have sustained the break above 1.5240 following Thursday's strong move higher, and resistance at 1.5470 is likely to face a retest. The lower high at 1.5498 is close to psychological resistance, but bull momentum is likely to run out near the April 15 lower reaction high at 1.5524. A key falling long-term daily moving average lies at 1.5530. There is risk of corrective weakness towards 1.5351, but 1.5295 should contain consolidation.
Thursday's strength extends the strong near-term bull trend to validate the break above a seven-month bear trendline around 1.2750, and resistance at 1.2955 is set to come under fresh pressure. The psychological 1.3000 level looms ahead, but with a cluster of upside targets in the 1.3095/1.3120 area suggests there is scope for a push above 1.3000. Corrective weakness will attract support while above 1.2830, which protects the 1.2811 higher intraday low.
GBP/USD
Bulls have sustained the break above 1.5240 following Thursday's strong move higher, and resistance at 1.5470 is likely to face a retest. The lower high at 1.5498 is close to psychological resistance, but bull momentum is likely to run out near the April 15 lower reaction high at 1.5524. A key falling long-term daily moving average lies at 1.5530. There is risk of corrective weakness towards 1.5351, but 1.5295 should contain consolidation.
Todays returns
Late post for 15 July.
1 trade today, 1 winner.
Month to date 5 winners 1 loser ROI 8.8%.
See my trades at forexfactory under useful links where trades and charts are posted.
1 trade today, 1 winner.
Month to date 5 winners 1 loser ROI 8.8%.
See my trades at forexfactory under useful links where trades and charts are posted.
Wednesday, July 14, 2010
Todays returns
1 trade today, 1 winner.
Month to date 4 winners 1 loser ROI 6.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 4 winners 1 loser ROI 6.3%.
See my trades at forexfactory under useful links where trades and charts are posted.
Fxpro info
EUR/USD
Tuesday's definitive recovery off 1.2522 leaves a bullish outside day reversal candle and sets fresh two-month highs following the probe above 1.2723. The bear resistance line originating from the November 2009 reaction high at 1.5145 is now being challenged around 1.2740, but there is room for a break above there to meet the wave equality target at 1.2765, projected off the June 29 higher low at 1.2151. And with 1.2522 now a confirmed higher low, a strong push towards 1.2875 cannot be ruled out for Wednesday's session. Corrective weakness looks limited to the 1.2615/30 area.
GBP/USD
Tuesday's strength has extended into Wednesday's current session as the bull trap high at 1.5240 has been breached. The main threat is for a sustained break into fresh nine-week highs, opening the April 30 lower high at 1.5391, although a long-term moving average on the daily chart highlights resistance close to 1.5375. A break below 1.5191 would provide temporary respite, although support at 1.5100 is likely to limit downside scope.
Tuesday's definitive recovery off 1.2522 leaves a bullish outside day reversal candle and sets fresh two-month highs following the probe above 1.2723. The bear resistance line originating from the November 2009 reaction high at 1.5145 is now being challenged around 1.2740, but there is room for a break above there to meet the wave equality target at 1.2765, projected off the June 29 higher low at 1.2151. And with 1.2522 now a confirmed higher low, a strong push towards 1.2875 cannot be ruled out for Wednesday's session. Corrective weakness looks limited to the 1.2615/30 area.
GBP/USD
Tuesday's strength has extended into Wednesday's current session as the bull trap high at 1.5240 has been breached. The main threat is for a sustained break into fresh nine-week highs, opening the April 30 lower high at 1.5391, although a long-term moving average on the daily chart highlights resistance close to 1.5375. A break below 1.5191 would provide temporary respite, although support at 1.5100 is likely to limit downside scope.
Friday, July 9, 2010
Fxpro Info
EUR/USD
Continues to edge higher towards the 1.2737 wave equality target following the push above 1.2663, although upside momentum is waning. A more important wave equality target lies at 1.2765, projected off the June 29 higher low at 1.2151, and the long-term bear resistance line originating from the November 2009 reaction high at 1.5145 is at 1.2773 for Friday's current session. Corrective weakness will attract support around 1.2600/20, and only below 1.2553 would concern near-term bulls.
GBP/USD
A classic bull trap Thursday left the two-month high at 1.5240 stranded, and brings the focus down to the bottom of the range at 1.5070/82. The failure to attract follow-through above 1.5230 Thursday suggests the six-week recovery is close to its conclusion, and a break below 1.5070 would prompt a sharp downmove towards 1.4934. The July 1 higher low at 1.4876 lies below there. Above 1.5206 is required to suggest the 1.5240 high is vulnerable.
Continues to edge higher towards the 1.2737 wave equality target following the push above 1.2663, although upside momentum is waning. A more important wave equality target lies at 1.2765, projected off the June 29 higher low at 1.2151, and the long-term bear resistance line originating from the November 2009 reaction high at 1.5145 is at 1.2773 for Friday's current session. Corrective weakness will attract support around 1.2600/20, and only below 1.2553 would concern near-term bulls.
GBP/USD
A classic bull trap Thursday left the two-month high at 1.5240 stranded, and brings the focus down to the bottom of the range at 1.5070/82. The failure to attract follow-through above 1.5230 Thursday suggests the six-week recovery is close to its conclusion, and a break below 1.5070 would prompt a sharp downmove towards 1.4934. The July 1 higher low at 1.4876 lies below there. Above 1.5206 is required to suggest the 1.5240 high is vulnerable.
Thursday, July 8, 2010
Todays returns
2 trades today, 1 winner 1 break even.
Month to date 3 winners 1 loser ROI 3.5%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 3 winners 1 loser ROI 3.5%.
See my trades at forexfactory under useful links where trades and charts are posted.
Fxpro Info
EUR/USD
Tuesday's bullish outside day defines the short-term trend, and is consolidating beneath insignificant resistance at 1.2673. Having completed an inverse-head-and-shoulders pattern, the main threat is for further strength towards the wave equality target at 1.2765. Support lies at 1.2518 to protect Tuesday's low at 1.2479, and only below there would concern near-term bulls.
GBP/USD
The key resistance level at 1.5228 has once again beaten back strength, and suggests a triangle consolidation pattern may be underway. The probe below 1.5132 threatens to extend towards the range floor at 1.5070, and backup support lies at 1.5050. Another test of 1.5228 would suggest a breakthrough is not too far away, opening 1.5288.
Tuesday's bullish outside day defines the short-term trend, and is consolidating beneath insignificant resistance at 1.2673. Having completed an inverse-head-and-shoulders pattern, the main threat is for further strength towards the wave equality target at 1.2765. Support lies at 1.2518 to protect Tuesday's low at 1.2479, and only below there would concern near-term bulls.
GBP/USD
The key resistance level at 1.5228 has once again beaten back strength, and suggests a triangle consolidation pattern may be underway. The probe below 1.5132 threatens to extend towards the range floor at 1.5070, and backup support lies at 1.5050. Another test of 1.5228 would suggest a breakthrough is not too far away, opening 1.5288.
Wednesday, July 7, 2010
Todays returns
3 trades today, 1 winner 1 loser 1 break even.
Month to date 2 winners 1 loser ROI 2%.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 2 winners 1 loser ROI 2%.
See my trades at forexfactory under useful links where trades and charts are posted.
Fxpro Info
EUR/USD
Tuesday's bullish outside day defines the short-term trend, and is consolidating beneath insignificant resistance at 1.2673. Having completed an inverse-head-and-shoulders pattern, the main threat is for further strength towards the wave equality target at 1.2765. Support lies at 1.2518 to protect Tuesday's low at 1.2479, and only below there would concern near-term bulls.
GBP/USD
The key resistance level at 1.5228 has once again beaten back strength, and suggests a triangle consolidation pattern may be underway. The probe below 1.5132 threatens to extend towards the range floor at 1.5070, and backup support lies at 1.5050. Another test of 1.5228 would suggest a breakthrough is not too far away, opening 1.5288.
Tuesday's bullish outside day defines the short-term trend, and is consolidating beneath insignificant resistance at 1.2673. Having completed an inverse-head-and-shoulders pattern, the main threat is for further strength towards the wave equality target at 1.2765. Support lies at 1.2518 to protect Tuesday's low at 1.2479, and only below there would concern near-term bulls.
GBP/USD
The key resistance level at 1.5228 has once again beaten back strength, and suggests a triangle consolidation pattern may be underway. The probe below 1.5132 threatens to extend towards the range floor at 1.5070, and backup support lies at 1.5050. Another test of 1.5228 would suggest a breakthrough is not too far away, opening 1.5288.
Monday, July 5, 2010
Fxpro Info
EUR/USD
Bulls are in control of the near-term after setting a fresh six-week high at 1.2613 Friday. Consolidation is underway to validate the break above 1.2490, and although there is scope to the 1.2430 area, bulls are expected to cushion dips in the 1.2485 area to protect 1.2430. The main threat is for renewed bull pressure on the 1.2613 high, opening 1.2673 and wave equality at 1.2765.
GBP/USD
Resistance emerged at 1.5228 Friday to halt the strong rally off the July 1 reaction low at 1.4876, and consolidation is likely back towards support in the 1.5070 area. 1.5228 represents a key resistance cluster, and should therefore look to force a break below 1.5070 towards 1.5000, given the wider picture is that of a major bear trend. Above 1.5228 would prompt further gains towards 1.5395, and weaken the prominent 1.5524 lower reaction high from April.
Bulls are in control of the near-term after setting a fresh six-week high at 1.2613 Friday. Consolidation is underway to validate the break above 1.2490, and although there is scope to the 1.2430 area, bulls are expected to cushion dips in the 1.2485 area to protect 1.2430. The main threat is for renewed bull pressure on the 1.2613 high, opening 1.2673 and wave equality at 1.2765.
GBP/USD
Resistance emerged at 1.5228 Friday to halt the strong rally off the July 1 reaction low at 1.4876, and consolidation is likely back towards support in the 1.5070 area. 1.5228 represents a key resistance cluster, and should therefore look to force a break below 1.5070 towards 1.5000, given the wider picture is that of a major bear trend. Above 1.5228 would prompt further gains towards 1.5395, and weaken the prominent 1.5524 lower reaction high from April.
Thursday, July 1, 2010
Todays returns
2 trades today, 1 break even 1 winner.
Month to date 1 winner 0 losing 2% ROI.
See my trades at forexfactory under useful links where trades and charts are posted.
Month to date 1 winner 0 losing 2% ROI.
See my trades at forexfactory under useful links where trades and charts are posted.
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