Todays returns

2 trades today, 1 break even 1 winner.

Month to date 13 winners 3 losing 19% ROI.

See my trades at forexfactory under useful links where trades and charts are posted.

Todays returns

2 trades today, 1 break even 1 winner.

Month to date 12 winners 3 losing 17% ROI.

See my trades at forexfactory under useful links where trades and charts are posted.

Fxpro Info

EUR/USD
Monday's sharp setback off 1.2490 leaves a bearish outside day reversal, and is looking to test support at 1.2270. Respite is expected in this area as it marks a 1.618 downside extension target, and protects the June 17 higher low at 1.2242. An upside break through 1.2368 is required to lift the tone, but resistance levels at 1.2398 and 1.2467 will look to protect the 1.2490 peak.

GBP/USD
Strong resistance emerged at 1.4937 Monday to protect the key 1.4968 level, and produce a wide-ranging bearish outside day reversal as support at 1.4735 comes under threat. A break below there is required to leave 1.4937 as a near-term bull failure, creating risk for further weakness towards the June 17 higher low at 1.4647. Resistance lies at 1.4849, but corrective gains need to force a break above 1.4891 in order to re-open the 1.4937 high.

Todays returns

1 trade today.

Month to date 11 winners 3 losing 15% ROI.

See my trades at forexfactory under useful links where trades and charts are posted.

Todays returns

1 nice little trade today.

Month to date 10 winners 3 losing 10% ROI.

See my trades at forexfactory under useful links where trades and charts are posted.

Fxpro Info

EUR/USD
Keeping support at 1.2150 intact Tuesday has prompted a fresh wave of bull pressure, which is set to extend above 1.2350 towards key projected resistance at 1.2406. A break above there would upgrade the recovery off last week's four-year low at 1.1876, opening the May 28 lower high at 1.2454 and leaving 1.1876 as a potential bear failure. Support lies at 1.2244, and only below 1.2210 would suggest a return to 1.2150 is on the cards.

GBP/USD
Maintains the strong short-term uptrend following the break above 1.4771, and the dominant threat is for further strength towards wave equality at 1.4891. However, there is scope for further strength to 1.4915 and 1.4968, which will look to protect the psychologically-important 1.5000 level. Tuesday's low at 1.4684 is likely to limit corrective weakness, and only below 1.4584 would concern bulls.

Todays returns

1 nice little trade today.

Month to date 9 winners 3 losing 9% ROI.

Todays returns

2 trades 1 break even 1 losing trade. I am significantly below my month to date target. No reason to panic but I am not happy with my performance in the first 2 weeks of this month.

Month to date 8 winners 3 losing 7% ROI.

COT info

Large traders increased their short GBP positions and remain 5:1 long US$. So whilst these positions can take some time to play out the big boys play of sell GU over last few months still has legs down it seems.

So whilst I'm not averse to buying the right GU set ups bias still selling GU.

Fxpro info

EUR/USD
Thursday's strength is approaching Wednesday's doji candle high at 1.2074, but resistance here should be strong enough to protect higher resistance levels at 1.2100 and 1.2145. This would suggest a return to Thursday's current session low at 1.1957 is on the cards, in accordance with the wider dominant bear trend, and below 1.1957 would expose Tuesday's higher low at 1.1901.
GBP/USD
Builds on the recovery off Tuesday's reversal low at 1.4349, and is tackling resistance at Wednesday's high at 1.4608. While downside scope is limited to the 1.4475 area, there is room for a break above 1.4608 towards the June 4 lower high at 1.4680. Below 1.4514 would extend consolidation to the 1.4475 area, where a 1.618 extension target at 1.4443 provides backup support.

UK, Euro interest rate announcements

Both the UK and Euro have interest rate announcements today. Like NFP price action can be volatile and we generally would not trade. I have checked back 6 months on NFP and UK/Euro interest rate days and provided price action is not particularly slow or erratic these days appear to offer good system trades.

So we will be taking trades during London session when set ups occur on both NFP and UK/Euro interest rate days.

No trades today.

Month to date 10 trades 8 winners 2 losing, 9% ROI.

See my trades at forexfactory under useful links where trades and charts are posted real time.

No trades today

Unfortunately the early part of London session had no system trades and I had to take a family member to the doctor and for x-rays etc etc and missed the good moves that occurred.

The upside is that the system again worked extremely well and produced highly profitable trades. As you can see under useful links my trades at forexfactory where I posted a chart of the system trades missed.

Todays returns

2 trades 2 winners, 3% ROI for the day.*

Month to date 10 trades 8 winners 2 losing, 9% ROI.

*Mrs V set the trade size at half of normal so whilst 3% for the day is good these trades would normally yield 6% ROI for the day.

See my trades at forexfactory under useful links where trades and charts posted real time.

Fxpro Info

The return of the carry trade has been postponed - once again. Rising concern about European debt contagion and falling optimism about the global recovery may be encouraging more investors to move out of the euro. But instead of heading into higher risk commodity currencies, such as the Australian, New Zealand and Canadian dollars, they are moving into safe havens, such as the dollar, the yen and the Swiss franc. Given recent events, there is every reason this trend will continue. Data from China this week will only make matters worse if the figures confirm that the Beijing government has succeeded in slowing the economy down. This will only contribute to fears that the global economy could yet face a double-dip recession. In recent weeks, economic data from the euro zone and Japan have consistently been below expectations. And now, there is concern that U.S. growth could be stalling too after last Friday's disappointingly small rise in non-farm payrolls. Manuel Oliveri, a currency strategist with UBS in Zurich summed it up: "We expect growth expectations to adjust further, and one cannot exclude that stock markets may increasingly start to reflect the risk of a double dip recession." On top of this, contagion fears in the euro zone are growing.

Fxpro Info

EUR/USD
Stages a corrective recovery off Monday's low at 1.1876 to temporarily halt the dominant bear trend, and is attempting to test the 1.1992 high. However, resistance lies at 1.2030 and, more significantly, at 1.2100 which provides the limit for potential upside scope. A break below 1.1912 is required to put bears back in control, exposing 1.1876 and threatening to extend the bear trend to the 1.1794 area.

Fxpro Info

GBP/USD
Stages a corrective recovery off Monday's low at 1.4391, and while support at 1.4460 holds, there is room for a return to the 1.4563 high. However, the June 2 reaction high at 1.4771 is likely to become a significant high, and is part of a solid resistance cluster, so upside scope look limited at this stage. Loss of 1.4460 would put near-term bears back in control and bring the focus back onto the 1.4391 low.

Todays returns

A family accident cut short the days trading missing the best system trades of the day.

Took 2 trades 1 winner 1 loser for -1% for the day.

Month to date 8 trades 6 winners 2 losers, 6% ROI for the month.

See my trades at forexfactory under useful links where trades and charts posted real time.

NFP today

As None Farm Payroll numbers come out today I'll be taking the day off from trading.

Fxpro information

From fxpro
GBP/USD
Suffered a setback off 1.4771 Wednesday to leave a cautious doji on the daily chart, as resistance in this key area below 1.4805 begins to emerge. Attempts to retest 1.4771 should be beaten back to protect 1.4805, but to extend the rally off the May 20 reaction low at 1.4229, a fresh wave of bull pressure is needed, opening the 1.5053 lower high. Below 1.4621 would expose Wednesday's low at 1.4554, but 1.4435 provides backup support.

Todays returns

Had limited time trading today as the better half is off sick (pneumonia again) and I had to run to the shops to get her medicine etc etc etc. So 1 trade today for 2% ROI. With lots of employment related news coming out of the US this afternoon I may call it a day here.

Return for the month so far 7%. 6 trades 5 winners 1 losing.

Chart Patterns

I've added a useful link for a comprehensive list of chart patterns. See Chart Patterns - Bulkowski's Visual Index .

Todays returns

I might be finished for the day here. 3.5% ROI for the day but still not quite happy. There were some moves with candles not lining up and a nice higher low (hl) not taken on ej as we were very close to an even number. So perhaps I shouldn't be too unhappy.

Return for the month so far 5%. 5 trades 4 winners 1 losing.

Todays returns

A hugely disappointing day. Did 1.5% ROI but due to having to go out unexpectedly and some connection issues lost out on some very solid opportunities. The kind of day where you can do well above 10% ROI.

Part of the disappointment comes from the May 30th blog on COT in the coming week where some ej weakness was anticipated and it fell like a stone.

These potentially big days should be the buffer for tough days where everything doesn't play out as you'd like.

It won't be the first time real life interrupts trading and certainly won't be the last. No problem we'll have another go tomorrow.

European problems.

From FXPro.
Europe
The euro fell to a new four-year low against the dollar Tuesday as concern over euro-zone banks, euro-zone sovereign debtors and the future of Angela Merkel's coalition government took their toll. General market sentiment was also being undermined by weak Chinese data, fear that the Japanese prime minister could resign and the Israeli attack on aid ships headed for the Gaza Strip. Investors were reacting to all this global upheaval with another pull out of risky assets that sent both Asia and European stock markets sharply lower. The latest rot set in Friday when Fitch downgraded Spain's sovereign debt rating and triggered a new sell-off in the bonds of euro-zone debtors. The European Central Bank also became part of the problem as the bank's recent policy of buying government bonds proved divisive. Officials at Germany's central bank are questioning the policy, which could weaken the ECB's credibility. The ECB also issued a warning about euro-zone banks, predicting that they could face another EUR195 billion of bad-debt writedowns over the next 18 months. Fears about the impact this will have on balance sheets means that financing conditions for euro-zone banks could deteriorate even more, making economic recovery for the region that much more difficult. In the meantime, Germany's ruling coalition came one step closer to collapse after German President Horst Kohler resigned unexpectedly. This was more bad news for Chancellor Merkel, who is already facing difficulty with smaller parties in her ruling coalition over plans to hike taxes to help fund the country's budget deficit.

GU view

3rd party information.

GBP/USD
Stages a recovery off Monday's low at 1.4434 to threaten to re-open last Friday's 1.4610 high. Last week's bullish doji at the base of a sharp decline suggests a significant basing attempt is underway, and while projected support at 1.4333 remains intact, there is upside scope for further strength towards 1.4640 and the 1.618 extension target at 1.4745. However, the recovery should be limited to resistance from former range lows at 1.4785, and projected resistance at 1.4805. Only a break below 1.4333 would put near-term bears in control, exposing 1.4229/60.

Candles, what are we looking for

The candles that we look for eg hammers, shooting stars, doji's, railway tracks, inside bars, outside bars, double top high lower close and double bottom low higher close.

When we enter from 5 or 1 min we want to sell on candles that have little or no lower wick and buy candles that have little or no upper wick.

If it seems that we are selling the lower wick of say a 15 min hammer, we'll actually be selling either a 5 min or 1 min closed candle with little/no lower wick. Price must move 1 pip beyond the low of the candle to confirm the sell trade.

There are numerous charts on my thread at forexfactory that show this, see under useful links.