Tag Archives: pairs
Ozzy Dollar And Cable Move Lower, Yen Moves Higher
Groundhog day again. Ozzy and Cable are moving lower and Yen is moving higher.
Yen pairs moved to new highs again in the Asian session but have been retracing for most of the day. The Yen is very weak at the moment and the selling sees no sign of letting up any time soon.
AUD made a little up move on Monday but weak numbers out last night have seen it make another leg down today.
I did mention in my post on Friday that Ozzy would continue lower this week with a target of 10225, which could get hit tomorrow or Friday if the slide continues. Unemployment figures are out for Ozzy later this evening so that should see some action in the pair.
Euro continued its move down on Monday from the sell off on Friday. We saw a strong pullback yesterday on the back of comments out of Europe saying the Euro is not high enough to warrant action from the ECB. That pushed the price up significantly but we have seen it slide again today.
The ECB rate decision is out tomorrow so we are unlikely to see much movement in Euro Dollar until that news is out. The consensus is for rates to remain the same. I think if we see the Euro above 140 we will see a rate cut, but until that happens i think they will leave rates on hold.
Cable was doing OK on Monday until poor numbers came out that saw it make a sharp move lower. I think Cable has a got a bit further to go yet before we see it come back. There is talk of QE and a possible downgrade that is weighing on Cable.
I would just like to state that i do not trade fundamentals or news. I am merely commenting on the pairs i trade to try and give you an overview of what is happening. It makes no difference to me what news comes out and when. I only trade price action. I trade what the chart is telling me to trade.
OK trades so far this week are as follows.
Monday we took Cable long at 15696 up to 15744 for 48 pips. We also took AUD short at 10437 down to 10400 for 37 pips.
Tuesday we took EJ long at 12410 up to 10480 for 70 pips.
Today we took Euro long at 13515 up to 13545 for 30 pips. We also took AUD long at 10297 up to 10329 for 32 pips.
If you are in the markets this week have a good week. 🙂
If you wish to learn how to trade Forex please consider my Forex training course.
Midweek Forex Trading Update.
Forex trading on Monday was a bit of a write off to be honest. Everything was going sideways, and i don’t like trading when currencies are doing that. So no trades to report for Monday.
Euro Dollar has been in a funny mood all week, and been very hard to trade. Very little price action set ups. I have scalped a few pips, but no major pips in the bank for Euro so far this week. I have had a bit of success with EJ though, that has been moving around a bit so i have managed to get some good trades on that one.
AUD is moving in a very tight range at the moment so that’s not really moving enough to get any decent trades on. We did get one trade yesterday on AUD at 10576 down to 10556 for 20 pips. The other trade we took yesterday was EJ long at 11762 up to 11800 for 38 pips. So 58 pips for yesterday is not too bad.
Cable has also been going sideways this week, but i think we are due a move up on that one. It seems to have formed a triple bottom. Cable is quite weak at the moment though as everyone is expecting the UK get downgraded at some point in the near future. I think the downgrade is in the price, but they are also talking of further QE so that could push it down a bit further. I have a target at 15770 area that may get hit at some point this week. I may take it long at that level, it just depends on what the price action is telling me at the time.
So back to today. First trade of the day was EJ long at 11740 up to 11814 for 74 pips. We then had EJ short at 11822 down to 11785 for 37 pips. I also took a trade on USD CAD at 9905 up to 9970 for 65 pips. I have been looking at Dollar Cad as another pair to add, along with AUD JPY. The only problem when following too many pairs is you can miss good set ups on other pairs. I am currently looking at 6 pairs so hopefully i will start posting more trades on USD CAD and AUD JPY soon.
I have also decided to make 2 blog posts per week, but make them a bit more detailed, with a bit of market analysis thrown in if i have time. I will be doing one at the end of the week, either late Friday or Saturday, and one midweek.
I don’t think the short quick update posts do much for the quality of the blog to be honest. So i am going to stop them. I cant really see the point in having 100s of posts with just half a dozen lines in. It just clogs the blog up and makes it harder for people to find the good stuff. 🙂
Have a great trading week, I will update the blog with more Forex trading at the end of the week.
Forex Trading Update For The Last Few Days. 710 Pips This week.
Hi guys. Sorry i have not updated you with any trades in the last few days. I have been very busy and have not had the time to update the site. I don’t really like working on a weekend but i have been doing a bit of chart work so i thought i may as well update the blog at the same time. 🙂
OK I updated you on Mondays trades so the rest of the week was as follows.
Tuesday we took 2 trades.
First trade of the day triggered Monday evening, it was EJ short at 11997. As i was sleeping at the time i was very happy to open my account Tuesday morning to a 150 pip move down. I closed the trade at 11836 for 161 pips profit. I have not had a profit like that for a while. I think the main reason for this is that i was asleep and could not close the trade, so it ran for the whole 9 yards so to speak which was very nice.
Next trade on Tuesday was Euro long at 13266 up to 13310 for 44 pips.
Wednesday we took 2 trades.
First trade of the day was Euro short at 13324 down to 13304 for 20 pips.
Second trade was Cable long at 15975 up to 16005 for 30 pips.
Thursday we took 3 trades.
Euro long at 13283 up to 13369 for 86 pips.
EJ short at 11949 down to 11914 for 35 pips.
Cable long at 15958 up to 15996 for 38 pips.
Friday we took 4 trades.
Euro short at 13396 down to 13356 for 40 pips.
Cable short at 15996 down to 15930 for 66 pips.
Euro short at 13366 down to 13346 for 20 pips.
Euro long at 13279 up to 13330 for 51 pips.
Total trades for the week was 14. Total pips was 710. What a cracking week boosted by the 161 pip EJ short and 86 pip Euro long.
This is going to be a great year. My target is a 1000 pips plus week. I think i will have to trade more pairs to hit the 1000 pip mark. I am looking at adding AUD JPY to my pairs so that could boost me up to the 1000 pip mark on a week like this one.
Have a great trading week everyone. I will try and keep you updated on trades next week as i take them.
Oh by the way, I have added an earn while you learn Forex trading option to my training courses, so you can copy the trades i am taking in your own account while you are learning my methods. A few people have asked me about it in the last few weeks, so i have decided to do it and i think it will be a good thing for new students. My Forex training course is not cheap, so if you can get some of your money back while you are learning then its all good. More info here.
Trading Update. Markets Moving Nicely Yesterday
We had a great trading day yesterday. The markets finally woke up after a few days of not doing much at all.
First trade of the day was Cable short at 15891 down to 15818 for 33 pips. This was a classic high probability set up for the way we trade. I love these set ups.
Second trade was Euro long at 12725 up to 12748 for 23 pips.
Third trade was Euro short at 12745 down to 12692 for 53 pips.
Fourth trade was Cable short 15887 down to 15850 for 37 pips.
Fifth trade was Euro long at 12692 up to 12731 for 39 pips.
Sixth trade was Cable long at 15835 up to 15884 for 49 pips.
Seventh trade of the day was AUD long at 10292 up to 10327 for 35 pips.
We have not had 7 trades in a day for a while. So i am very happy with a great end to the week.
Total trades for the week 15, total pips 513. Best week for a while. 513 pips profit for the week from 4 currency pairs is very good trading in my book. Very happy. 🙂
If you want to learn my method please contact me a rob@tradeforexmakemoney.co.uk
Have a great weekend.