MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trade Recommendations » Long Term Trade Recommendations

[popoola]

Short by stop order @ 96.73. We went as low as 95.97. currently @96.46 bid. I expected a bit more movement once the shoulder broke as everybody would have seen it. Because I didnt get that i am a bit cautious...

[popoola]

trade closed @96.46 for +27pips. While I was at work the swissie usdchf rallied hard and broke through some major barriers. Will look into this for later...

So far:

March: 81+100-71+11+27 = 148 pips.

[popoola]

I have finally found out what happened with the swissie today. Intervention. I hate intervention because it skews technical analysis. he moves usually sudden and large. It also throws the averages like the MAs making them less reliable. It also introduces fundamantals which is unpredictable.

My next chart of interest is another potential H&S. Mind you this could also be a case of support and resistance. So it is not tradable as a H&S if the shoulder line is not broken. The stochastics are also pointing down. Also we couldnt break the triple top and crude oil is going up. You might have guessed the currency pair is the usdcad

[popoola]

About that swissie depreciation.

I have a feeling that this usdchf rally might be retraced. The intervention wasnt physical only verbal. In some cases this might be as good as. But if the market doesnt believe that it will happen there might be at least a 50% retracement before a move to the true direction

[popoola]

Speculative sell @1.1862 stop 1.1912 - the high of the previous 4hr candle looking for 50 pips. It is bedtime now and cant stay to watch it.

Still feel the us$ is retracing a bit... Daily chart for the usdjpy uploaded showing the stoch rolling over and the 200sma repelling price

[popoola]

A speculative loss of 31pips overnight.

[popoola]

Shorted the usdcad @1.1.2695 looking to trade the break of the H&S last Friday. Closed this trade out @1.2690 for a profit of 5pips today

This is one of the pitfalls of longer term trading. . At some point I was 60 pips in profit but as I was looking for at least 150-200pips because of the H&S rules and the volatility in the markets this was not possible. I could be stoipped out and then the market will then go my way. My stop placed @2815 was almost hit today as well

Back later with more observsations

[popoola]

March: 81+100-71+11+27+5 = 153 pips.

[popoola]

The stock marker reversed a near 150 point gain to end below zero. A bit of risk is coming back into the market again making people run to the us$. The nzdusd is overbought on the 4hr chart and we also have an inverted hammer. The RSI as well is overbought and turning. Seconded by the hit of the upper bollinger band in a horizontal direction.

A quick speculative sell in in order here...

[popoola]

I couldnt log into the moneytec site for the last 2-3 days. it kept on coming up with an error 'evald()'

A lot has happened in 3 days that couldnt be updated.

Yesterday US took on debt so much that the grandchildren of the current generation will still be paying in their time. I believe this action will help the markets a bit and also weaken the dollar.

[popoola]

Nothing can go up forever. We see some weakness gome into the stock market already. The UK is the weakest economy in the G7 and therefore the pound is expected to lag. Stochastics overbought, stock market falling, price hitting upper bollinger bands

Selling here @ 1.4550 looking for a retracement of the strong action these last days

[popoola]

closed out @1.4509 +41pips

March: 81+100-71+11+27+5+41=194 pips

The market has started to recover. I feel it will still tank though.

Keeping an eye out for longer term trades.

[popoola]

Pound retraded back to my entry point for a sell yesterday. Situation is still the same. Too far too quick and consolidation is required here.

Sold the aussie @6611 stop @6641 looking for 50pips

[popoola]

Closed the trade out for +15pips. Was up 45 pips at some point but that is the problem with trading counter trend.

We just need the stochs etc to normalize and then enter in the direction of the long term trend.

March: 81+100-71+11+27+5+41+15=209pips

[popoola]

For those into pattern trading do we agree that there is a H&S on the 4hr euroswissie? This is in agreement with my earlier suggestions that profit taking in in order here. Uverbought on the 4hrly chart, small rolling over on the daily chart, RSI rolling over on the daily. Sold @5269 (smaller risk as this is counter trend)
looking for the usual resolution of the H&S. 50pip stop. Chart uploaded

A rally on the stock market can scupper this trade...