1.40 broke. It seems that the psth of least resistance is 1.36, 1.33 ad 1.34. I may join the sellers on this one, but waiting for an entry, if I get one. I am also looking for an entry to go long. Just watching and waiting. gyazo.com I am overseas ans the Internet is bad here, so I have to stick with higher time frames, but I can update periodicaly here. I...
PUTTING A FACE to the CHARTS: This is an expansion of an idea brought on by a fellow trader of mine. While taking a look at the economic calendar, I noticed that there was high impact data coming out for the week of February 15,- 19, 2016 for the currencies of the same pairs he mentioned. So, like every week, I dig and decide to looking a little more deeply at...
Fundamentally: I have published today my views on the EUR going into February 12, 2016. I believe that it supports my trade idea to short the EURGBP. Technically: EURGBP: Comment: EURGBP Monthly resistance 50% pullback. The monthly chart tells us that there will be resistance at 0.7829 around a 50% fib level and the 0.8072 61.8% fib level. The 1 hour chart...
The SPX500 continues to make lower lows. As long as it stays below 2121, I remain bearish until further and stronger signs emerge on a monthly basis. This is no a daily or intraday analysis. It is clearer from the monthly chart that 6 to 8 months down the road, moving away from the SPX500 equities is a wise thing to do for now; otherwise, a weekly or daily...
The Fundamentals: My views on USDJPY now are based on what is happening with oil and with US economic data: Coming up at 8:30am on February 12, 2016 is retail sales : gyazo.com I am not so confident in my expectation of how the data will turn out because other data, such as The Johnson Redbook Index that measures the growth in the U.S. retail sales did not...
All bets are in favor of growing UK retail sales in 30 minutes.
AUDUSD.... just something short-term. I do not think it will get that high, but if it does, then I am all in with four legs.
Given that I believe NZD will come out with bad data in 8 minutes, I am long AUDNZD. My other orders at lower levels were not filled, so, I enter in now within this consolidation level.
It looks to me that the Nikkei has found monthly support and a place where the bears have taken profit. It is also the same area where the 200 moving average is and where there is a fib support level. All of this lines up at the same place. What could it mean? A big push upward and a place where risk aversion begins to wear off. Last night, on Valentine's Day...
Just want to put this in my journal: Alternative:
I do not see a Grexit, but I do see the upcoming fundamental data coming up...and it looks positive; hence, I long GBPJPY. No fear! Trade the plan and manage your risk!
I normally wait, but it is already close to the time of the EURO session, and I predict that the data will be bad for the EURO in the morning New York Time. Economic Calendar Prediction: Friday February 12, 2016 2am New York Time: Germany GDP data, I anticipate, will be bad since all the other data for the EURO this week was bad, like given the drop in retail...
I think, fundamentally and technically, this will make a good short. I predict that the EUR data coming out will be bearish today and tomorrow.
I think this is a good combo: shorting EURAUD. I believe EUR will have negative fundamental data coming out this week. I think the AUD data is improving, nothing significant this week for AUD though. So, I think it is safe to short this pair.
I just wanted to save this trade that I took in this journal as a reminder of the power of fundamental and sentiment analysis.