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[popoola]

Exited early for -20pips. It is unwise to stay in any trade betting on swiss franc getting stronger as the SNB is actively weakening the currency...

Was up 40pips at some point...

March: 81+100-71+11+27+5+41+15-20=189pips

[popoola]

Has the dollar weakness run its course? Food for thought.

Fundamentally speaking...
If all the central banks are devaluing their currencies like Britain did isnt it time for dollar strength? The swiss national bank bought bonds yesterday (weakining their currency and costing me my good H&S breakout on the 4hr). I think it will soon be the time for the ECB to do the same. Then the Pound will gain. The us$ will gain and off we go again

I am slightly into the Fibs and I am showing a chart of the usdsingapore dollar. We are bouncing off the 32% retracement. Stochastics are oversold and turning up. Might be worth looking at as this currency should have fallen further as the euro gained

[popoola]

The event we have been waiting for has come and gone and the markets love it. This means stocks may rally further and this will mean more rally in store for the euro and more weakness for the us$

Fundamentally speaking there is word that the eurozone may not participate the the quantitaive easing that all other western banks have done. This means, if it is true that there will not be huge borrowing. This in turn means if the stock markets rally the euro may become the currency of choice.

I am a technical trader but keep my eyes on the fundamentals. If the above turns out to be true it will show up on the charts and therefore we will be able to profit from it.

The most currencies are overbought/oversold and trading in their current direction is risky.
I just need a good pullback on the euro...

[popoola]

Will usdcad bounce or breakout?

If the us$ decline continues it will be a breakout...

[popoola]

The markets are overbought heavily. We need an excuse to breakdown for a little while. But the major trend is still up

[popoola]

Soldthe nzdusd @0.5621 looking for a drop

[popoola]

Stopped out for 20 pips loss.

is this 'Catch a falling knife syndrome'???

[popoola]

sold aussie @ 0.7010... Glutton for punishment?

Still way overbought. Commodities taking a breather today despite the weaker us$. Chart uploaded

March: 81+100-71+11+27+5+41+15-20-20=169pips

[popoola]

Closed out @ .6938 72pips profit

March: 81+100-71+11+27+5+41+15-20-20+72=241pips

will look to resell from higher. Also check out the euro is not falling like the aussie. Selling opportunity?

[knowmore]

Hi popoola

I am a complete newbie to this game of forex. I do realize that there is lot to learn and a lot of hard work involved. I have been trading on a demo account from GCI Trading for the last 1 month. I am absolutely enjoying myself and have made a profit of just over 800 USD. It's only virtual money, I know!

I have been using a trading strategy that is produced by Erol Bortucene in a publication he calls the "The Forex Profit System". By the way, Erol recommended this site right at the end of his publication.

I have found that I prefer swing trading as opposed to daily trading and scalping as I work full-time.

Much like yourself and Erol I enjoy trading the swissie and the greenback.

I am looking for more insight into long-term trading strategies with the USDCHF and would be greatly appreciative of any hints, tips, directions to follow to achieve my objective of at least starting to trade a real account within the next 12 months or so.

Friendly regards
knowmore

[popoola]

I will PM you knowmore. Good luck

[popoola]

I have uploaded a chart of the usdchf showing price action just touching the 200sma. Will it hold and reverse the price higher? Stochastics is deeply oversold

on the downside-- the trend is down, daily stochastic can still get more oversold . Also price action is tracing out a structure that looks like a bear flag which usually resolves in the direction of the prevailing trend

[popoola]

Stayed out of the markets today. us$ is extremely oversold and in need of a healthy correction. Good thing I got out of that aussie trade isnt it?

usdjpy is not overbought though on the daily chart. And with the stock market roaring ahead and risk taking coming back into the market there is still room to the upside. I think the markets are targetting 100 on this one and buying on a breakout above 98.90 might be a good idea but you face layers of different resistances before the clear sky

Chart uploaded...

[popoola]

The yen went the other way. But my entry was not hit. Thankfully
Today I just want to jive about the euro and the action last friday. We had a correction i have been harping on about. A broken clock is correct at least once a day.

Seriously i think we might still get some more downside from here. I have uploaded a chart of the euro with simple fibs on it. we had a failed flag structure. Normally we should hreakout of the consolidation to the upside but price failed and broke to the downside. So now I think we are looking at a real retracement to the 1.29 area at least. The 4hr stoscastic is over sold so i expect a bounce to unwind that.

We also have a hammer on the 4h with an oversold stoch so becareful pressing the sell side on monday. wait for a retracement and When the stoch on the 4hr align (and not oversold) with the stoch on the daily it is time to sell.

[FxSignal]

Thanx to you for explain and please give me a tip about UsdChf thanx