Monthly Archives: June 2010

Ichimoku Currency Trade Exit GBPCAD: 6-27-10

Posted on June 28th, 2010 by

We got stopped out on our 30 minute GBPCAD trade. In fact, we got “clipped”. If we had our entry 6 pips lower, we never would have entered the trade at all. When you trade countertrend strategies, trading against the trend, this can happen.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose


Read More >>

Ichimoku Currency Trade Setup GBPCAD: 6-25-10

Posted on June 25th, 2010 by

It seems like GBPCAD looks like it is pulling back on the lower timeframes. Therefore, we are looking at a countertrend strategy.

See chart below for details.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose


Read More >>

Gann analysis of SPX for June 20, 2010

Posted on June 21st, 2010 by

My friend Jim is a Gann analyst.   Here is his post on the SPX:

The SPX has travelled 180 sq of 12 in price per the highlighted box on the chart from the April high…timewise, it is 38 TDs or 53 CDs….time is generally handled using sq of 9….since time is less than 81 trading days, I opted to simply divide 38 TDs/9 = 4.222   180 sq of 12/4.222 = 42.63 or 462   Gann used 62.5 rather than 61.8….   therefore 1.625 x 2.625 (as opposed to 1.618 x 2.618)  = 4.625 or 462   since decimals are not important in this kind of price/time squaring, it seems time and price have squared….Monday will tell us everything.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will …
Read More >>

Ichimoku Currency GBPCAD Forex Trade Setup: 6-10-10

Posted on June 10th, 2010 by

GBPCAD consolidating and has a chance to break either way.   The trend is bearish but can move into a pullback mode off the consolidation pattern.   As a result, we are going to setup two trades.   One a counter trend trade with very little risk and another for a continuation trend trade.

Here is the counter trend trade setup.  It is a bullish trade off the 30 minute timeframe.  It keeps our risk very low.  Notice, we are not trying to get huge profits because this is a pullback off the major trend.

Here is the continuation trend trade.  We are going to setup everything off a 120 minute chart to try to keep our risk low since we are in a minor consolidation pattern.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being …
Read More >>

Ichimoku Weekly Analysis of US Stock market and Currency- YouTube

Posted on June 7th, 2010 by

Weekly analysis of the US stock markets has been posted in a YouTube video:

http://www.youtube.com/watch?v=CERJptrbvz0

 

Weekly analysis of the Currency market has been posted in a YouTube video:

http://www.youtube.com/watch?v=yUe6cy6hpdU

 

 

 

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose


Read More >>

Ichimoku EURUSD Currency (Forex): Where is it going? 6-4-10

Posted on June 4th, 2010 by

If you have been trading EURUSD long term, you are doing great.   It finally broke the consolidation pattern level and looks to now continue the trend.

 

Here is the weekly chart.  We have outlined the major support area based on the Ichimoku Weekly chart.   Notice, we are approaching the 1.1986 from 2005/2006.

Here is the daily chart.  All the Ichimoku indicators are very strong bearish.

Here is the 120 minute Ichimoku chart.  It clearly shows the breakout on the consolidation pattern:

Here is the 60 minute chart for all the day traders:

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology …
Read More >>

UPDATE – USDJPY 6/4/2010

Posted on June 4th, 2010 by

USDJPY Long @ 92.20……..Based on our previous posts we are long 2 units of USDJPY at 92.20 looking to sell 1 unit at 93.30 and holding the 2nd unit.  At this point with NFP’s coming tomorrow at 8:30AM EST I must go the conservative route and just sell 1 unit here at 92.80 for 60 pips profit.  While the trade is looking good and could be forming a Long Term bullish scenario this will cut my risk just in case There is NFP flash crash that gives me no mercy.  Ideally I still want to see us hold the bottom of the cloud….More preferably 91.60 which is the future bottom of the 120 cloud going into next week.  Then we could potentially go LT bullish.  Until tomorrow…….

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is …
Read More >>

UPDATE – USDJPY 6/3/2010

Posted on June 3rd, 2010 by

The USDJPY has gone straight up since our last post.  If you bought at 92.08 and then bought at the Tenkan Sen Test you would’ve bought again around 92.33.  Giving you an average cost around 92.20.  At this point if your a short termer you can take 50 pips profit on half  and bring our stop to Break Even.  If your a long termer hoping this will trade up to 94.50. then you may have to take some heat and use the Kijun Sen plus a buffer or a break below the cloud, you can also stop on half the position at break even to reduce risk.  Im still looking to sell half above 93.  We will say 93.20 to make it an even 100 pips, or anywhere in that area.  Don’t be focused on an exact price.  The point of profit taking is to “take profit”  It does not matter if it goes exactly to the price you want it to go too.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the …
Read More >>

USDJPY – 6/3/2010

Posted on June 3rd, 2010 by

USDJPY…..First let’s look at the fundamental underlying story here.  Japans prime minisiter Mr. Hatoyama resigns.  The 4th PM to resign in Japan in 4 years.  Who is the likely replacement?  The current Finance minister Naoto Kan.  A strong advocate of a weaker Yen to the USD.  In addition with the political turmoil the Yen can no longer be counted on as a safe haven currency.  Add its own Debt to GDP ratio and there is not much reason to own Yen unless you want to take advantage of carry trade liquidation.  If there still is that left.  But lets not let all that get us in the trade.  First lets look at a 120 min.  First you can buy here at 92.08.  Or wait patiently for a test of the Tenkan San or Kijun Sen.  Looks like 91.92 which is 16 pips away and 91.44.  I would like to see hold 91.60 and make our way up to and above 93 where I will most likely sell half.  As far as my stop goes I think as long as we hold the cloud we should be ok.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options …
Read More >>

UPDATE – EURUSD and The Markets 5/31/2010

Posted on June 1st, 2010 by

Unfortunately before the EURUSD went up into the 1.2400’s we had already been stopped at BreakEven at 1.2217.  If you got back in and made the 100+ pips plus then good for you.  At this point it is Monday night and the US Markets are negative and the 10 month moving average has been broken to the downside and it looks like a downtrend may now be in place.  I would look for the same in YEN pairs.  They are all beginning to roll over.  If your going to short the yen pairs look for AUDJPY and EURJPY to lead the weakness.  With the BOC meeting tomorrow….a raise in rates would cause the CAD to hold up against everything.  Watch USDCAD, GBPCAD, EURCAD, and CADJPY tomorrow at 9 AM.  Good Luck

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to …
Read More >>