Reverse ‘W’ on Euro
Posted by Cire2222 on Jun 19, 2008
Reverse ‘W’ on Euro?
A couple days ago we completed we we call the ‘W’ formation breakout on the USD/JPY pair. you can see the final chart and post on that here http://tradersbase.com/tb-trade-review/w-formation-with-fibs/index.html Now I see a possible reverse ‘W’ formation in the EUR/USD pair so keep an eye out on this pair. I think the swing low support will be broker if we go test it again.
not much changed
Posted by Cire2222 on Jun 4, 2008
Past couple days I have been talking about Dollar strength. The two places I wanted to be were EUR/USD and USD/JPY, these trades have been working out well. In the charts below you can see the EUR just getting no love the past few days and the USD/JPY moving up and looks like it may be breaking out of the classic ‘W’ formation. I would recommend taking some profits off the table here but No reason to take the whole position off, both these trades should continue the move.
what to do…….
Posted by Cire2222 on Jun 2, 2008
Well today got pretty ugly in the stock market but there has been no technical changes. I will remain with a neutral to bearish bias for now, the nasdaq is the only index looking strong. One critical market to watch right now is the US dollar. I think the Dollar is really at a critical point and could stage a decent rally soon if we can hold up. The dollar did take a hit today but no technical damage was done. So keep an eye out on the forex market. EUR/USD would be my pair of choice with USD/JPY in 2nd both are at a low risk entry point. My only concern with the USD/JPY pair is it tends to move with the stock market and the stock market has some bearish signals.
GBP/USD trade follow up
Posted by Cire2222 on May 14, 2008
Back on 5/6/08 on this blog and in our forum I called short in the GBP/USD forex market. We took off half after a solid move and let the rest ride. We have now added 100+ pips to the trade and its time to cash in the remainder of the position. Good trade !!!
5/12/08 Review and trade set-up video
Posted by Cire2222 on May 12, 2008
This is the first attempt at hosting a video direct to our server and not from youtube, so let me know if you guys have problems. You will need to be able to view flash media.
http://tradersbase.com/tbvideos/cire2222/512blog.swf
GBP/USD follow up
Posted by Cire2222 on May 7, 2008
The short trade in GBP/USD I mentioned last night is up 160 pips right now, I wanted to tell those that took the trade that now is time to take half off the table. We are approaching the bottom of our channel and want to lock in some profits. With the other half we will move our stop to break even and let it ride, I think this has much more room to fall.
Gold
Posted by Cire2222 on May 6, 2008
Gold has gained back some ground as of late giving a decent short entry here in the 870’s. I would have stops around 905 area. I would expect the dollar to continue a rally as well, I think being short the GBP/USD would be a good way to play this, as it has been weak against the dollar for some time now. Still on the sidelines in the stock market waiting for a solid signal.
A day of retracement
Posted by Cire2222 on May 5, 2008
Today was retracement action after some big moves in many markets. We saw the stock market pullback after a solid run, gold popped after it’ big sell off and the Dollar gave a little back today. No significant technical moves were made and the trend in those markets remains the same. I will sit on the sidelines waiting for a signal, I don’t want to force any moves right now.
Day in review
Posted by Cire2222 on Apr 24, 2008
Today worked out great for the TB.com picks. The EUR/USD forex play I mentioned last night worked out excellent as the Euro sold off hard today. Gold continued to sell off as well. The stock market held the level we talked about yesterday so nothing to do in S&P’s for now. Im looking to take it Easy on friday and see how the week closes. I remain with the same outlook in all forex plays, short EUR/USD, long USD/CHF and GBP/JPY. Remain bearish on gold and remain on the sidelines in the stock market. :D hope you all got in on this forex action!!!
Not too much to do here
Posted by Cire2222 on Apr 23, 2008
Right now I don’t see too many swing trade entries. I think the GBP/JPY forex pair is still sitting at a decent long entry level and the EUR/USD may be primed for a sell off. Gold has continued to take a beating but right now is not the best time for an entry if your not already short. The S&P has no clear direction to me, see chart below for some thoughts on the stock market index.
