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Archive for February, 2008
Nzd Update
IN Nzd from 8125, still holding and will cont to hold, this afternoon saw a stophunt and squeeze on usd but only had to hold thru 60 pip drawdown in nzd, thats why choosing the pair, month end this week which is ripe time for stophunting for more month end profit. (…)
Trade Calls for February 27, 2008
CANADIAN RETAIL SALES PROVIDES UP TO 40 PIPS FOR TRADERS
Last Friday we were watching the Canadian Retail Sales figures,
and we were looking to long the USD/CAD and EUR/CAD if the
number came out at least 0.4% worse than expected. The actual
number came out with a deviation of -0.6%, so it met our safe
sell trigger and many traders entered this trade. We received
report of up to 30 pips of profit on the USD/CAD and up to 40
pips on the EUR/CAD. To see the video from this trade, click
on the link below:
http://www.tradingliveonthenews.com/vid/CADRetailSales022208/
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two opportunities for trades tomorrow. The first
opportunity will be on the UK GDP Report that will be released
tomorrow at 4:30 am EST. The expected number for this report
is 0.6%. A higher than expected number will be good for the
GBP and signal a long on the GBP/USD, and a lower than expected
number will be bad for the GBP and signal a short on the
GBP/USD. We will be looking for a deviation of 0.2% on this
report to trigger us into a safe trade. We may decide to
lower the trigger tomorrow as this report seldom meets our safe
trigger. (…)
Weekly outlook for Commodities
Comments:
Commodities are still strong this week. We continue to sound the alarm about the commodities correction to come. Again we are not commodity bears at all, just no longer bulls in the near term. We are using these spikes to higher prices both last week and this week to exit long trades in commodities. In particular we are exiting long metal, energy, and grain trades. Overall we see commodities going through a “distribution” phase over the next few weeks. Again those of you who are still long or just recently went long, we advise you to use tight trailing stops on any long trade in commodities to protect any gains you already have. Do not chase these markets higher. There will be a time in the not too distant future when you will want to step in and buy commodities across the board again, but that time is not now. Also shorting at this very volatile time is very risky and should only be attempted by those who truly understand and can accept the risks involved. Conservative traders should be looking to lock in gains and then patiently wait for the next dip to buy.
Energy:
Crude oil has now hit our target of $100 and those of you who took our long entries should have exited on the target or had most of your trailing stops hit by now. Either way you should have exited with some great gains. This week we see more downside pressure on crude than upside potential so we are looking to sell rallies rather than buy dips. We see Crude moving back down to test support between 85-90 over the next few weeks. (…)
Weekly outlook for Majors
Comments:
This week we have a lot of data coming out. Here in the US we have PPI, then later in the week we have GDP coming out of England. We expect to see another week of mixed movement with little directional bias. Overall the Dollar is still trying to find and hold a bottom and we believe that it will ultimately begin to rally later in the year. Near term we expect to see the old lows on the Dollar index tested over the next 30 days or so and are therefore selling Dollar rallies.
Eur:
Last week we advised readers to exit our longs on a push to 1.48 so you should now have exited with roughly 300 pips. We are hitting a significant resistance level between 1.48 – 1.50. We expect to see some wild volatility as we see the market test the 1.50 level. We do not expect the market to be able to maintain itself above 1.50 in the near term and are therefore looking to sell any rallies near 1.50.
GBP:
The cable has had a great rally last week but we failed to hit our 1.98 target. Near term we are going ahead and exiting our longs from last week early this week near 1.97. We are also light short sellers at that level looking to cover those shorts below 1.96. Longer term we remain buyers of dips. So when we cover our existing shorts we will at the same time be buying long and again targeting a move to 1.98.
CHF:
Last week we told readers to run sell stops on longs from 109 at 1.0989 our stops were hit and we took at least 89 pips of profit per lot. This week we are looking for the Chf to fall back towards 1.08 at which point we will look to be buyers again. Overall choppy action expected this week as we retest the old lows. (…)
Two Top Forex Traders Reveal Jealously Guarded Trading Secrets
This monumental Bank Flow Trading Meet and Greet event is a rare opportunity to meet and interact with two of today’s most informed and successful Forex Traders.
HI
Past week was out of town on business and preparing for different format. Will be back in the saddle next week. Today if want a trade, sell aud 9240-55.
Traders Make Up to 70 Pips on UK Retail Sales / Trade Call for February 22, 2008
UK RETAIL SALES REPORT PROVIDES UP TO 70 PIPS OF PROFIT
I would like to recap what we did on the last live trade call
and give you the criteria for a possible trade tomorrow. The
last trade call I sent out covered the UK Retail Sales report
this morning. (…)
Live Trade Call for February 21, 2008
TRADE CALL RECAP
This morning we were watching the US CPI, and we were looking
to enter if the deviation met our safe trigger of 0.1%. The
actual number came out with 0.1% deviation, so we entered this
trade. (…)
Live Trade Call for February 20, 2008
I would like to recap what we did on the last live trade call
and give you the criteria for a possible trade tomorrow. The
last trade call I sent out covered the Canadian CPI report this
morning. We were looking for a deviation of 0.2% to enter a
trade. The number came out with no deviation, so it did not
meet our safe trigger and we did not enter this trade. To see
the video of this trade, click on the link below:
http://www.tradingliveonthenews.com/vid/CADCPI021908-2/
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the US CPI
report will be released at 8:30 am EST. We will be focusing on
the US CPI Excluding Food & Energy figure. The expectation for
this report is 0.2%. We will be looking for a deviation of
0.1% on this report to trigger a safe trade.Â
We have lowered the safe trigger recently on this release as we
have seen moves of 30 to 40 pips when it meets the 0.1%
trigger. This report last met this trigger in December and we
had traders report profits of up to 30 pips. To see a video of
December’s trade, click on the link below:
http://www.tradingliveonthenews.com/vid/USCPI121407/
This is our current outlook for this trade; however, it is
subject to change as market conditions may change by tomorrow. (…)
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