EU: 1.4483 is an important high of recent range, so price as it is now - above this level gives nice possibility of trading long.
GU: not as clear as EU, I would wait for this pair to break daily low or high first.
EJ: here nice upmove too. Expect rises with resistance area @ 134.50
GJ: same as GU, needs proper break of today hi/low first. 150.70 and 146.12 are nearest resistance levels.
Monday 11 January 2010
Thursday 7 January 2010
2010-01-07 Morning session commentary
*Actually none of those trades was taken off clear and nice setup.
9:17 UJ buy @92.75
9:37 EJ buy @133.29
9:37 EU buy @1.4382
10:30 1/2EU sell @1.4371
today started with spike on JPY crosses. Market was quite messy, however on divergence between JPY pairs and USD pairs I decided to long UJ. Big mistake was to take first dip after spike, usually second is deeper, and that's what happened this time. I should prevent myself from trading at all so early after spike, but I didn't and loss on UJ was a price of it.
What was surprising, EU after plunge started to regain it's position very quickly, therefore I decided to enter this move [what I did announced on FF thread earlier]. In spite of lack of proper setup I opened EJ position as well as UJ was looking for me as it was going to appreciate, so I could make sure I won't miss the move.
As you can see on a chart at the moment of taking that second trade GU was forming higher bottom, so when I saw deep plunge on GU I decided to close EU position. I kept EJ trade open and managed to close half at +20 pips profit, accordingly to trading method, however on second half I managed to save just 6 pips.
Last trade - short EU I opened when waiting for reversal setup to unwind what didn't happened. I closed trade with + 6 and +2 pips
9:17 UJ buy @92.75
9:37 EJ buy @133.29
9:37 EU buy @1.4382
10:30 1/2EU sell @1.4371
today started with spike on JPY crosses. Market was quite messy, however on divergence between JPY pairs and USD pairs I decided to long UJ. Big mistake was to take first dip after spike, usually second is deeper, and that's what happened this time. I should prevent myself from trading at all so early after spike, but I didn't and loss on UJ was a price of it.
What was surprising, EU after plunge started to regain it's position very quickly, therefore I decided to enter this move [what I did announced on FF thread earlier]. In spite of lack of proper setup I opened EJ position as well as UJ was looking for me as it was going to appreciate, so I could make sure I won't miss the move.
As you can see on a chart at the moment of taking that second trade GU was forming higher bottom, so when I saw deep plunge on GU I decided to close EU position. I kept EJ trade open and managed to close half at +20 pips profit, accordingly to trading method, however on second half I managed to save just 6 pips.
Last trade - short EU I opened when waiting for reversal setup to unwind what didn't happened. I closed trade with + 6 and +2 pips
2010-01-07 Morning session preparation
Came a bit late, so here's short version:
EU: further shorts possible [but not trade if price trade higher or retracement [30M]
EJ: possible rise after correction.
GU: short below 1.5936
GJ: rise especially above 148.20
EU: further shorts possible [but not trade if price trade higher or retracement [30M]
EJ: possible rise after correction.
GU: short below 1.5936
GJ: rise especially above 148.20
Wednesday 6 January 2010
2010-01-06 Morning session commentary
There were two trade opportunities today.
First, when EU ran out of steam on retracemet after preopen plunge, it was around 38% level, there was short setup on both EU and EJ based on my preopen analisys. This trade however turned out to be loosing one.
Second trade was based purely on higher bottom on GU and GJ, both pair had potential of 60 pips gain, what was double success, as I expected up to 40 pips trade on GU and predicted 148 as a target price, that was taken.
2010-01-06 Morning session preparation
EU: quite unusual drop just before market open suggest further drops, however expect price to retrace to 1.4320 - 34 lvl before that. Don't trade above 34.
EJ: may be nice shorting alternative with 131.25 daily low. If broken may give next 50 pips decrease.
GU: on steady fall, it may either retrace or move sharply lower. If traded I would not expect much of a move today [30-40 pips].
GJ: this pair needs to retrace badly, so expect it today, but bare in mind that GJ is on general downtrend, so treat 148 as a possible top for today. [148.30 is 50% lvl of last 2 days move.]
EJ: may be nice shorting alternative with 131.25 daily low. If broken may give next 50 pips decrease.
GU: on steady fall, it may either retrace or move sharply lower. If traded I would not expect much of a move today [30-40 pips].
GJ: this pair needs to retrace badly, so expect it today, but bare in mind that GJ is on general downtrend, so treat 148 as a possible top for today. [148.30 is 50% lvl of last 2 days move.]
Tuesday 5 January 2010
2010-01- 04/05 Morning session commentary
4.01
I started with failed trade on EU, as it broken initially a bit lower with nice confirmation on GU. This trade was worth -10 pips.
Soon after SL on my EU position was hited price on both EU and GU retraced to previos levels from before 8:00am. I read it as a clear bounce of GU from daily low and decided to trade long in spite of lack of clear setup [as you can read I was expecting long trade off red support on GU that day, that's why I decided to enter early]. GU rallied initial 20 pips very quickly, and charged higher hitting my planned target for second half at daily high [+ 60 pips for second half].
5.01
This was very moody day.
My first trade was based on my market overview for EU and confirmation on EJ [-9 pips]. Unfortunately it was a looser, second was another approach to trade my prognosis, this time I bought GU [-13 pips].
I started with failed trade on EU, as it broken initially a bit lower with nice confirmation on GU. This trade was worth -10 pips.
Soon after SL on my EU position was hited price on both EU and GU retraced to previos levels from before 8:00am. I read it as a clear bounce of GU from daily low and decided to trade long in spite of lack of clear setup [as you can read I was expecting long trade off red support on GU that day, that's why I decided to enter early]. GU rallied initial 20 pips very quickly, and charged higher hitting my planned target for second half at daily high [+ 60 pips for second half].
5.01
This was very moody day.
My first trade was based on my market overview for EU and confirmation on EJ [-9 pips]. Unfortunately it was a looser, second was another approach to trade my prognosis, this time I bought GU [-13 pips].
2010-01-05 Morning session preparation
EU: there is channel broken up on 30M chart, great for long, especially above 1.4450. important resistance [bottom of Asian channel] @1.44 if price retrace to this area, I would wait and eventually trade short below this level.[If traded long - there is plenty of room up on daily chart]
EJ: yesterday struggled with new highs, however not potential seller yet. Strong resistance above 133.50, so beware if you trade long. Whatever direction of trade you should be careful. Reversal on daily [middle of leg up in flat channel] is possible.
GU: This pair is on a nice buy setup but 1.6240 may be limit for what it may do today, however above that level there is plenty of room to rise.
GJ: has good potential to fall 300 pips within two days and even more within two weeks. for buy signals stick with either GU or EJ.
EJ: yesterday struggled with new highs, however not potential seller yet. Strong resistance above 133.50, so beware if you trade long. Whatever direction of trade you should be careful. Reversal on daily [middle of leg up in flat channel] is possible.
GU: This pair is on a nice buy setup but 1.6240 may be limit for what it may do today, however above that level there is plenty of room to rise.
GJ: has good potential to fall 300 pips within two days and even more within two weeks. for buy signals stick with either GU or EJ.
Monday 4 January 2010
2010-01-04 Morning session preparation
EU: Currently on it's leg down on daily, with important 1.4220 support [recent low] and in my opinion very important 1.4115 - 61% fib level, so yet I would be glad to catch short trade on it, especially below 1.4280 - this is very important line on 30M for me.
EJ - significant uptrend on this pair [on daily there is leg up on rangy pattern]. On a daily I see 9 consecutive rising candles what makes me think that retracement is possible, however I'm not convinced about entering short on short signs on EU
GU: Is very near to important support, and gives some suggestions of reversal on daily. I would be strongly short below 1.6050, and moderate long above 1.6100 [based on 30M chart]
GJ: Strong uptrend on 30 [149 is important resistance, suspend trading below this level] Daily chart looks promising as well, as there is plenty of room up to 163 level.
EJ - significant uptrend on this pair [on daily there is leg up on rangy pattern]. On a daily I see 9 consecutive rising candles what makes me think that retracement is possible, however I'm not convinced about entering short on short signs on EU
GU: Is very near to important support, and gives some suggestions of reversal on daily. I would be strongly short below 1.6050, and moderate long above 1.6100 [based on 30M chart]
GJ: Strong uptrend on 30 [149 is important resistance, suspend trading below this level] Daily chart looks promising as well, as there is plenty of room up to 163 level.
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