Latest impact: Weekly Aftermath: 200 Pips

Below are the signals that were derived from FXSTREET posts (Check the comment)


Posted on 14 Sep 2012:

Latest impact: GBPCHF Rounded Bottom!


First, do close GBPCHF signal of Monday the 10th @ 15110 – it is pricing 15110 right now. Second, GBPCHF seems to be charting a reversible Head & Shoulder indicating that a bottom has been marked on Wed. If the set-up is going to be hold true, then buying GBPCHF @ 15110 for 15187 becomes the rounded-bottom bullish tactic.

The cross would be reversed if 15070 is seen targeting then 15007. The stop for this signal would be set on a daily close above 15110.


Comment: The Buy @ 15110 has effectuated a reversal @ 15070, while targeting set @ 15007 is adjusted to “just-close-now” @ 15030, yielding: Net Zero pip Profit (Position broke-eve).



Posted on 13 Sep 2012:

Latest impact: USDCAD History on the Repeat!


USDCAD was @ 9710, the low made YST, exactly 12 months ago. In Sep’11, the pair rallied. Sometimes, history repeats itself. If this Sep dollar’s rallying is envisioned against CAD, then we just identified a bottom.

The current price (9760) OR any dip towards 9730/40 belongs to the bull saloon targeting 100 pips. [by “OR” we mean take one position, as the trade is based on historical statistics rather than pure technical]. Only a close below YST’s low negates the scenario of history repeats itself.

Comment: USDCAD Long @ 9760 was locked by the negative close @ 9685. Net 75 pips Loss. A lesson to learn: Do not rely positions based on “History repeats itself.” It does not. That is why I was asking to buy one position OR the other.



Posted on 12Sep 2012:

Latest impact: EURJPY UPTREND INTACT


EURJPY developed a double top since the start of the week. At this moment, the market is trying to push those tops aside and prepare the stage to rally towards 10100. The bearish channel that was created since Fri (high of Fri +Tue / low of Tue) received a punch during Asia’s session of TDY adding the increase in probability towards further escalation.

Scenario A: Aggressive buyers may buy double top (10025) for 10075, the 38% Fib line of the plummet of the year; an add may supersede @ 9980. Only a close below 9940 negates the intactness.

Scenario B: Wait for a close to happen below 9980 on 5 mn chart. Afterwards, do sell 9980 or the close of the 5mn targeting 9940. Once short is triggered, do reverse the position @ 10025 for 10075 in case the bearish target is not locked. This scenario will be cancelled if price exceeds 10060 before entry is made.

Trading both scenario simultaneously is our interest.

Comment: Scenario A: the buy @ 10025 was triggered and the add @ 9980 was five-pip-triggered-by-a-spike, target missed 10075 by 12 pips the day this article was posted; Positions remained opened and target met after FED released its benchmark. Net 145 pips...

Scenario B was not triggered as 10060 was surpassed by 3 pips the day of the post.


Posted on 11 Sep 2012:

Latest impact: EURCAD Facing 12430 Support


EURCAD logged in the year with a decent fall, creating a 23% Fib level @ 12430. Since the market pull the trigger to rally, the lock above 12430 took place on a weekly basis. Such lock helps the market bouncing off 12430 support.

The 12430 belongs to the bull saloon then, targeting 12500. Only a close below 12375 negates the bullish phenomenon.

Comment: Long 12430 for 12500 was perfected; Net 70 pips profit.



Posted on 10 Sep 2012:

Latest impact: GBPCHF Bearish For Aggressive Traders


GBPCHF developed last month a “strong support” – even though there should be no such wording as “strong” in trading – between 15110 & 15086. On Fri, the cross fell off the cliff to close just few pips below the yearly STL that read 15140, @ 15125. The fell off reached 15115 that coincides approximately with MA100 and the negative side of the Bollinger where both print a reading of average @15084.

We would prefer to have a close below 15084 to start trading the continuity of the selloff. However, aggressive traders, may sell the opening of the week along with a rally to near 15200 targeting 15030, the Jun.’s high which should come under testing. Only a close above Fri.’s high negates the bearish stance.

Comment: Sold the opening @ 15110, added 15170 and target was just closed @ 15110; Net 60 pips profit.


*** Please be aware that when mentioning to trade a [near] level, it means between 30-20 pips.