PaisaFX- 90 Minute Trade

[ecology10]

What is 90 Minute Trade? Its a strategy for intra-day traders.

Basic premise of the strategy is to be in the trade for no longer than 90 minutes or (10-30)pips gain. Trade trigger is a news release or technical support or resistance. Trades are executed in most liquid periods for specific pairs. See website for more details.

Today's Trade

Buy (limit) AUDJPY @91.82
S/L: 91.65 or 90-Minute(s)
Target: 91.98 - 92.20

Reason: Oversold, expect some buying around 92.00, dealers might run the stops below this psychological support and 38.2% retracement since Sept06 - Jan07 (see Chart).

Upcoming News for the Pair:

AUD

• Retail Sales m/m (Jan 8th 2006)
• Trade Balance (Jan 9th 2006)

JPY

• Holiday (Jan 8th 2006)
• Eco Watchers Survey (Jan 11th 2006)

Sometimes, I will buy again to average price; depending upon the situation. I always get into the trade with 50% of my overall commitment to a particular trade setup. For example EURUSD looks cheap at 1.30, I will buy 1 lot at 1.30 and 1lot at 1.29, if I have 2 lots overall for that trade.

[ecology10]

AUDJPY corrected at 38.2% ~92.02, stops were not run. Trade did not hit.
Next Trade around 1-3pm, CST

[ecology10]

Trade #2

Sell (Market) AUDJPY @92.62
S/L: 92.82 or 90-Minute(s)
Target: 92.40 - 92.30

Reason: If the previous high of 92.72 holds expect a test to 92.40 and then at the 38.2% (Support ~ 92.02)

Upcoming News for the Pair:

AUD

• Retail Sales m/m (Jan 8th 2006)
• Trade Balance (Jan 9th 2006)

JPY

• Holiday (Jan 8th 2006)
• Eco Watchers Survey (Jan 11th 2006)

[ecology10]

Trade #2
Sell (Market) AUDJPY @92.62
S/L: 92.82 or 90-Minute(s)
Target: 92.40 - 92.30

AUDJPY
Trade closed at 92.63 (-1 pips)

[ecology10]

Will try the trade again, this time might average the position, if moves higher. In that case the time extends to 180 minutes.

Trade #3

Sell (Market) AUDJPY @92.64
S/L: 93.10 or 180-Minute(s) Add Another Position around 92.90
Target: 92.50 - 92.40

Reason: If the previous high of 92.72 holds expect a test to 92.40 and then at the 38.2% (Support ~ 92.02)

Upcoming News for the Pair:

AUD

• Retail Sales m/m (Jan 8th 2006)
• Trade Balance (Jan 9th 2006)

JPY

• Holiday (Jan 8th 2006)
• Eco Watchers Survey (Jan 11th 2006)

[ecology10]

Current (-15 pips) took a trade against the trend, if the retail sales come in stronger, expect AUDJPY to touch 93.40. Short position is still valid, will update as the trade unfolds.

[ecology10]

Adding another sell position at 92.90
So AVG Price: Sell (AudJpy) @92.77
S/L: 93.10
T1: 92.40 - 92.30 (Update)

[ecology10]

Closed at (-33 pips) S/L hit.
Revisions to previous retail figures, led the aud strength.
Off to a losing start, however just 2 trades.
Next Trade around 1am-4am CST

Overall: -1 -33 = -34 pips