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Labyrinthian Market – Consolidation till NFP

Mon, Sep 10 2007, 13:28 GMT
by Anthony Samaha

ForexSurvivor

Forex & Non-Forex Department

Labyrinthian Market – Consolidation till NFP

No comment on NFP – as expected to continue the turbulence of August, and such NFP rallies will continue at least till year end. It will not be tedious one as it used to be in the last months. Reversal strict U turns within 2 weeks.

            A week of startling ranging moves known as consolidation, it was only till NFP! An unprofitable week consuming time energy as indecision about any short term trend was complete. USDJPY as a great example has portrayed an inside bar at the beginning of the week, a bullish outside bar the next day and bearish outside model by mid week. To add to the earth yen unrealistic quake, our system targeted most of the CAD signals below the 30pips this week, while other pairs do the lull some negatively. No need of course to talk about the lucrative ones.

NZD crosses took the major hit and weakness continues posting as hedge NZ funds exposures were on the shut down and being the 5th finance company within just 15 days. More weakness to come in the next week and the 6600 won’t be difficult for NZD crackers to close the longs where other NZ hedge funds ruin their investments.

Whether it is related or not to crude oil high price, support for CAD & AUD is provided as they are considered a commodity. AUDNZD reached the high and 12200 is in the offing before a minor consolidation. Apparently CAD to visit the bottom first before any upside sudden move where the model proved well onto consolidation move and will continue that way for the next week; stay rangy between 10400 – 10800.

What has been valid from the past of my wires, traders today find it new and that is related to Yellow Banking funds, knows as Gold. Finally, Gold breaks the triangle just ahead of Ramadan. Reading my previous Gold notes, you will recap that all, and not almost, analyses were bullion fundamentally and adjoining a recall to the old technical picture where:

1.                  triangle broke the bottom trend line to allocate major stops

2.                  breaking the top trendline ahead or during Ramadan, and

3.                  finally the easy way is to keep the ride towards 10020 by the end of the year.

Therefore, no matter what you and I think, the market will price the stated prices (nzdusd, audnzd, gold) clearly within less than 4 months.

More stops are knocked by previous stops!

This is not a driving concept with a Stop Sign but rather Stop Signal. After the turmoil of August, or precisely, after the Long 5 years trend that major correction gets the hit during August, September started a worse case scenario with severe consolidation cycle. A peculiar aspect while comparing stops allocation between nasty August and cool September, August speedy and vicious rallies allocated stops not seen in decades, but from one side only, either bull or bear trends. While September started a cool consolidation cycle running hungrily towards both sides, the bull and the bear. Preferably being cool or nasty is only determined by your astrological nature sign.

10pips Forex Mandatory Path

A.                 Previous Weekly Free Concrete 10pips trade: EURUSD Long 13712. Mission Completed.

B.                 New Weekly Free Concrete 10pips trade: AUDNZD Long 11888

ForexSurvivor Real Crude Oil Signal allocated 302pips

Promo: 180pips Mission of Crude Oil has been completed

Applauds…for both…

Reminder of the ‘promo’ trade:

1. (Jul 31) Crude Oil: Long Level I (1 lot) @ 7840 Target 45 Pips Exact @ 7885. Target was missed by 8pips. Position is still open.

2. (Aug 09) Position shifted to Level II where 1.5 lots were added @ $71.70/bl.

3. (Sep 05) Position closed @ 75.10 gathering 180pips.

(The above was a promo trade while the real trade has accumulated 302pips – check table at the bottom)

C.                 New Weekly Free Concrete 10pips trade: Gold: Long it anytime on Monday during Asian session and collect 37pips in the next sessions.

Down The hill Signal:  Prompt Reversal took pride between couple usdjpy trades where 1 lot was fully reversed to 4.5 lots (all Levels) enjoying net 77pips, and then as rally continued another 41pips were allocated.

A rare signal took the hook 3 times ending in Zero combination understanding nothing whether negative or positive. It was left net for broker spread commission, as I am referring to the 3 trades of USDCAD. EURNZD was the Executive performer of this week as it locked 180pip.

Anthony Samaha

Trading Engineer

*** The Potential Flows of Trading Information constitute my judgment and are not trading recommendations. ***

Published on  Mon, Sep 10 2007, 13:25 GMT