myfxpedia : Daily Signals and Strategies

Share real time buy/sell trading signals here

12 Dec 2012 Daily review by myfxpedia.com

Postby Amelia » Wed Dec 12, 2012 12:19 pm

Monthly Summary:

Number of Trades: 15
Winning Trades: 8
Losing Trades: 7
Total Pip Gain/Loss: -243.1

Yesterday

Yesterday Pip Gain/Loss: -278.2

12 Dec 2012 Daily review by myfxpedia.com:



At start the European session yesterday we got the unexpected growth of German Zew index that help boost the Euro to the upside and then came the confirmation of the Swiss National Bank that will charge interest on the money deposited and this again help the cross pair EURCHF further. Beside that there was no actual exciting news that paint a rosy picture at all for the global financial market.

In fact, we had much worse news than first thought but market just ignored any depressing new for the time being. It’s Xmas probably. Anyone think this market is being manipulated? Here, we have US trade deficit being widen up to 4.9% to $42.2 Billion, yet market rally. Oh well, they are under a mountain of debt anyway so a little more would mean nothing to anyone, I suppose.

Personally, I do think the market is being manipulated and it does seem as though a perfect storm is in the making and over the coming months, I say within 3 to 6 months time we are going to have a crash or at least a deep correction before a monster crash brought upon us. Well, let see what the next 6 months bring.


Impact News today:

04:30 am (NY) GBP – Claimant Count Change
12:30 pm (NY) USD – FOMC Statement; Economic Projections
02:15 pm (NY) USD – FOMC Press Conference

Trading Positions:

We were stop out of our long in AUDUSD, the prices is very extended but because of trading condition for this festive season is very unpredictable so We rather cut our lost and patiently wait for prices getting to the extreme level then we will rejoin. As we have many times saying that this December month trading is very unpredictable and it’s getting worse as we draw near Xmas. So, remember if you have to trade for whatever the reason, only trade with small lot sizes and prepare to widen your stop as the spread will certainly wider than you ever seen.

Below are charts of NZDUSD. This pair has been over extended and at around this level and up 86 level which we would identify as a Terminator Zone. So, we are sell into this pair base on Divergence on H4. I have another pending sell order in which it could have one more leg up on H1 to create a Negative Divergence with over bought on H1 which in turn will be in tandem with H4 for a down turn.


NZDUSD – Daily

Image
NZDUSD –H4


Image



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

Re: myfxpedia : Daily Signals and Strategies

Postby Amelia » Thu Dec 13, 2012 5:46 am

Monthly Summary:

Number of Trades: 15
Winning Trades: 8
Losing Trades: 7
Total Pip Gain/Loss: -243.1

13 Dec 2012 Daily review by myfxpedia.com:

The only news that actually move the FX market yesterday was from the FOMC statement and the speech of Big Ben. Ironically, the market was actually excited to know that the FED willing to go further into debt and keep that printing machines going without any indication of when to stop. Wow, that’s surely a good piece of news, get my drift? You see, they are in a deep hole of debts and the only way that they can think of to get out of that tunnel of debts is to dig a deeper tunnel of debts, then there they might find some lights on the other side of the tunnel. Such thinking shouldn’t it deserve Nobel Prize anyone? But then, who cares, obviously Mr. Market doesn’t care.

To sum up of what big Ben had said yesterday:

1) Interest Rate stay low, closer to zero until at least 2015
2) Reiterated that they had been buying $40 billions/month of mortgage back security. In turn, we see a boost in housing prices
3) Will start buying $45 billions/month of Treasury Bonds that is buying back their own debts
4) A rosy picture being painted of growth and expect growth of 2.3% to 3% and will rise to 3% to 3.5% in 2014.
5) Stern warning to the White House of Fiscal Cliff such that the FED has limited room to move, in other words, no ammunition to offset the damage if Fiscal Cliff isn’t resolve by the deadline.

Just to see how jumpy traders are we can observe through the S&P index – as soon as the words Fiscal Cliff mentioned and came the warning from big Ben the S&P wiped out all of its gained early in the day to close in the red.

Anyway, what we can see is that the market has been boiled with optimisms around Fiscal Cliff being avoided and so the run up in equities and risk currencies. So, now we have the market being stretched, risk currencies being extended to the upside. It certainly looks like a set up for perfect storm and we believe the big player with smart money are lurking around waiting for any sign of surprise to pounce on.

Let us look at a few majors and strategise of how to play or look out for, for this festive seasons:

CAD - It is vulnerable and is depends on US demand, also, its economy is showing sign of weakness.

EUR – The situation in Europe is still in dire state and vulnerable to the downside. It is a very sensitive currency to trade as it is news driven: good news from US and Euro group will drive the pair higher but any bad news from US or Greece will see the pair running for cover.

JPY – In a risk off circumstances, JPY is still being considered as safe currency. Therefore, any sign of pessimism will support the Yen against USD while optimism will push USDJPY higher.

GBP – Mostly will be traded in an inverse relation to USDCHF, so this currency actually need the strength of the US market, in turn a weak USD.

NZD - This pair is more related to the US news than AUD.

AUD – Mostly depend on news from the Asia pacific countries, especially China but will also move in according to US news

Impact News today:

03:30 am (NY) CHF – Rates; Monetary Policy Statement; Press Conference
08:30 am (NY) USD – Core Retail Sales; PPI; Retail Sales; Unemployment Claims
08:45 pm (NY) CNY – HSBC Manufacturing.


Trading Positions:

Yesterday we added on another 2 pairs EURUSD and EURGBP as both triggered during big Ben speaks. Below are charts of EURUSD and EURGBP.

EURUSD – Daily.

Image

EURUSD – H4

Image


EURGBP – H4

Image

EURGBP – H1

Image



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

Re: myfxpedia : Daily Signals and Strategies

Postby Amelia » Thu Dec 13, 2012 11:18 pm

Monthly Summary:

Number of Trades: 15
Winning Trades: 8
Losing Trades: 7
Total Pip Gain/Loss: -243.1

14 Dec 2012 Daily review by myfxpedia.com:

After six straight days of neglecting bad news and had risk on, the market finally break the bull stride yesterday as we had a risk off day. Well, it’s getting closer to Xmas and surely many traders that are heading for holiday, enjoying the festive season would probably want to keep their powder dry.

In the US news release yesterday, we have had better than expected news with the retails jumps and a drop in unemployment claims and yet this does not excite Mr. Market one bit, worse it went the other way. Geez, this is confusing, we rally on bad news and shy way on good news.......so true for the term “reverse psychology”.

On the other side of the continent, the Rating Agency, S&P, as according to CNBC came out with a revise outlook for the UK from being “Stable” to “Negative” and that has somehow put pressure on the Pounds as we can see the Pounds being weaken among the cross pairs.

In Asia Pacific region, in particularly, Australia, the Reserve Bank of Australia is being told by Central Bankers around the world ( http://www.businessspectator.com.au/bs. ... 1212-2WQ48 ) that if the RBA wants to lower the value of the Aussie dollars the only way it can do that is to seriously consider a heavy handed intervention since gradually cutting Interest Rate, perhaps closer to the level of other nations, which is almost close to zero will not do the job of stop the rise of the AUD. Gradually lower Interest Rate certainly won’t cut through the tofu, mustard...whatever have you, as we have seen that early in the month of December. It’s quite disturbing to know that, Officials from countries with bad banking system telling the RBA what to do when they can’t even manage their own banking system, maybe they have a point but damn, give us a break.
A few hours ago, reporting from CNBC that Senator Boehmer is on his way to the White House to meet President Obama. So, we would likely have some sort of new that would likely drive the market shortly or later today or by the weekend latest. In a nut case scenario, we don’t think Senator Boehmer just jump in a car for a drive to the White House, picking up President Obama and went for a drive hey, and drive they went....”off the cliff”.
Anyway, on a serious note, we certainly think that solution will be reach somehow, somewhat and then both parties would able to come out declaring victory. Note, the Fiscal Cliff solution is not the issue as there will be a solution, an agreement will be reach. The issue lies within the quality of the deal and an early deal without thorough assessment will only create havoc later on. So, if we are going to have an early limited deal just to calm investors/traders then the like reaction on FX market would be: a fall in USD and a relief rally on risk currencies initially and then the USD will be strengthen once again when market resume after New Year. As for Comprehensive deal is to be reach, we are not at all optimist that it could be finalised before the year end. Let leave it as that and see what they have to say about their get together today.

Impact News today:

03:30 am (NY) EUR – German Manufacturing
08:30 am (NY) USD – Core CPI.


Trading Positions:

Since we entered EURUSD yesterday, so far on the H1 it has formed triple tops. Prices currently building either a flag and then a down move. Or, it could retest the tops or even a bit higher to create continuous Negative Divergence then a down move. Chart below.

EURUSD – H1.


Image




The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

17 Dec 2012 Daily review by myfxpedia.com

Postby Amelia » Mon Dec 17, 2012 4:38 am

Monthly Summary:

Number of Trades: 15
Winning Trades: 8
Losing Trades: 7
Total Pip Gain/Loss: -243.1

17 Dec 2012 Daily review by myfxpedia.com:

IF anyone follow the equities market and the FX market last Friday would have notice of big inverse correlation between the two. We have the S&P closing down or relatively unchanged while on the FX market we had a risk on day. The push higher in the FX market on the risk currencies took places just in the last hours of trading of the week. Call me sceptical if you wish but the way I see it is that this market has now being manipulated by the big boys, market makers and surely it was the best time to do it when there is less participants in the market and there is no high impact news, market was thin and so a few millions could certainly move this market and so the last few hours on Friday we saw a spike on the risk currencies that could concluded as “Stop” hunt.

Over the weekend we now have a reinstated of former Prime Minister of Japan, Shinzo Abe, who has been Prime Minister of Japan in 2006 and since then, Japan has had 6 Prime Minister changing hand. Could Abe be once again the saviour of the Japanese economics? He has been calling for further QE to weaken the Yen to boost the Japanese Export Industry. This theory of QE can be a double edge swords that could actually created a catastrophe to the Japan’s economy, it could potentially first creating a “bubble” in the Japan’s economy and as we all know: Bubbles do eventually Burst. And then they will go further into debts with the so call “unlimited” QE and then we probably will the Japan stand on the edge, a tipping point, a cliff and ultimately will lead to currency crisis. We just hope that will not happen for the sake of the Japanese people as they have already endure so much from the havoc of mother nature’s.

Anyway, with the news of Abe wining the Prime Ministership the market took the joys what has been expected to make a big gap up on the Yen pairs and then gradually being sold down, as I type it has came off from the open. So true for the fact of: Buy the Rumour and Sell the Fact.

Impact News today:

09:30 am (NY) EUR – President Draghi Speaks
07:00 pm (NY) NZD – Business Confidence
07:30 pm (NY) AUD – Monetary Policy Meeting Minutes.


Trading Positions:

With the one of the most anticipated news, which is also as expected, regarding the election of Japan over the weekend out of the way. We have an overly excited market that further weaken the Yen as soon as market open. The run up of the Yen since early last month has been much factor in the prices and today Gap up, as we see it, is the exhaustion Gap. Attaches are charts of 3 different time frames, Weekly, Daily and H4. All, showing prices has been way extended and due for pullback.

GBPJPY – Weekly

Image

GBPJPY – Daily

Image

GBPJPY – H4

Image



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

19 Dec 2012 Daily review by myfxpedia.com

Postby Amelia » Tue Dec 18, 2012 11:09 pm

Monthly Summary:

Number of Trades: 15
Winning Trades: 8
Losing Trades: 7
Total Pip Gain/Loss: -243.1
19 Dec 2012 Daily review by myfxpedia.com:

Just a quick update. We are only 6 days away from Xmas, so this is going to be our last post for the year.

There isn’t much change in the fundamental of the global economy except for the optimism on the Fiscal Cliff which We are getting so bore of talking about.

It seems that bull market is everywhere and they did stack up a Santa Rally really well. We just like to caution traders not to be suck in with this bull hypes as what we can see is the rude awakening just lurking around waiting for opportunity to smash this market lower.

Finally I just want to say: Trade conservative through this period with small lot size and use wider stop as big swing is imminent through this festive season.

Merry Xmas and Happy New Year to all.


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

9 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Tue Jan 08, 2013 10:56 pm

Monthly Summary:

Number of Trades: 11
Winning Trades: 9
Losing Trades: 2
Total Pip Gain/Loss: +641.5

9 Jan 2012 Daily review by myfxpedia.com:

Welcome back folks, We trusted that you all have had a wonderful festive season and has been freshen up for the year 2013.

First let us put up a quick summary of what we have achieved so far in 2012. Although we only start our service provider back in July 2012 and the end result for the last 6 months was very encouraging. In fact, we are very proud to have actually achieve an average of 800 pips per month with highest monthly gained so far stands at 1432 pips and 1 losing month of -186 pips. That said, we have achieved an average strike rate of 80% with a Draw Down have never exceed 3%. That Statistic is remarkable in anyone book don’t you think? The challenge ahead going into 2013 is to maintain that level of performance.

Going into 2013, we will do our best to maintain this wonderful performance and further strengthening our services to our members. We are currently working on trade manager software to personally manage client trading account with the same risk parameter as per our live trading account and our reward is purely base on our performance. This Performance fees is base on, says, 2% per month and that is if we don’t make 2% per month on our client account then we will get nothing and once we meet our target then anything above 2% is ours – that’s fair enough? Also, for your peace of mind you will get exactly the same trade as per our personal trading account with same risk parameter and so, if a trade does not go our way then remember we are the first to lose and believe me, we are professional traders, we trade for living. Many of our Certified live trading accounts can be view on our website or onmyfxbook.com or you can contact our services desk for more details.

Now let us run through of what to expect for 2013. We expect volatility in the market will rise in the first half of 2013. You see, many major issues in many countries has not been sorted out comprehensively: Greece debt is still at the unsustainable level while Europe is still struggling to come out of recession and the Fiscal Cliff deal reached early in the year is like a patch of band-aid; and unemployment around the globe is still a major issue with Greece unemployment currently at 26% and Spain isn’t far from it with 25% unemployment rate and from yesterday news release, the unemployment rate within the Euro zone stands at 11.8%.

From last November we have start hearing of Currency War, a race to debase one own currency just to give a kick to one own county economy. We have seen the US keeps its printing machines running at a dizzy pace, with $85 billion of ammunition pumping into this so called Currency War. While in Japan, with the reinstated of former 2006 Prime Minister Abe, who has been vocal about his intention to actually assassinate the Yen and thus value of the Yen has dropped significantly over the past 2 months. While in the Euro Zone, they have never launch an official QE, not yet anyway, and seems as though they have lost in the Currency War up to date but last month the European Union President, Draghi, did mention of his intention to push for lower interest rate to boost the economy and join in this so called Currency War. Thus, a cut in interest rate might soon happens.

In Australia and New Zealand alike, with the high Aussies and Kiwi are not at all rosy to their economies and present a big headache to the RBA and RBNZ. In Australia, with the mining sector is at the tip of the hill while businesses outside the mining sectors is struggling we might see the Australian heading into a full blow out recession over the coming years if the pullback in the mining sector gather speeds and higher Aussies dollars will certainly killing off many Australian exporters. Such is an awful way to kill an economy, don’t you think? Now a day if you want to kill an economy, all you have to do is to push their currency up so high that will eventually hurt their export industry.

Ok, That’s enough for our very 1st post of the year and we once again wish everyone a Prosperous year and we believe with all the uncertainties for 2013 which in turn create high volatilities is the year to be a Currency Trader.

Cheers and Pips to all.



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

10 Jan 2012 Daily review by myfxpedia.com

Postby Amelia » Thu Jan 10, 2013 2:48 am

Monthly Summary:

Number of Trades: 11
Winning Trades: 9
Losing Trades: 2
Total Pip Gain/Loss: +641.5

10 Jan 2012 Daily review by myfxpedia.com:

The last few days markets, particularly the equity markets, are just sitting on edge, setting up as though it’s going to break to the upside but with lack of economic references traders and investors alike are trading very cautious. This can also be seen with most of the major currencies. They are trading in a very small range bound with downward pressure on the Pound and the Euro but have held up reasonably well.

The one thing we want to bring to your attention is not to be suck in into the fake rally, wait for confirmation. This sort of market condition and the set up seems as though the bulls are ready to roam and how many times in history that has turn out to be a disaster.

We all know there are investors sitting on the sidelines waiting for opportunity to get into the market and then just as soon as fresh money entering the market, more often than not, turn out to be the losing money. Just remember, what seems to be obvious isn’t always the way it will be.

Earlier in the Asian session we have got report on China Trade Balance which came out much better than expected and the risk currencies, particularly AUD switch on the bullish mode but still within tight range. Now with China good data hitting the market as well as other nation around the globes this could provide a hint that the RBA might just as well keep Rate on hold in early February and if Rate is to be on hold then it would not come as a surprise to see the AUDUSD ballooning to 1.06; 1.08 or even retest of the high created back in July 2011 at 1.1080. and believe it or not, that will create a big headache for the RBA if the AUD rise to the level back in July 2011. That would be a bitter sweet way of killing an economy in the midst of currency war.

Impact News today:

07:00 am (NY) GBP – Asset Purchase Facility; Official Bank Rate
07:45 am (NY) EUR – Minimum Bid Rate
08:30 am (NY) CAD – Building Permits
08:30 am (NY) EUR – ECB Press Conference
08:30 am (NY) USD – Unemployment Claims
06:50 pm (NY) JPY – Current Account
08:30 pm (NY) CNY – CPI.


Trading Positions:

EURGBP – H4


Image



EURGBP – H1


Image



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

10 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Thu Jan 10, 2013 2:54 am

Monthly Summary:

Number of Trades: 11
Winning Trades: 9
Losing Trades: 2
Total Pip Gain/Loss: +641.5

10 Jan 2012 Daily review by myfxpedia.com:

The last few days markets, particularly the equity markets, are just sitting on edge, setting up as though it’s going to break to the upside but with lack of economic references traders and investors alike are trading very cautious. This can also be seen with most of the major currencies. They are trading in a very small range bound with downward pressure on the Pound and the Euro but have held up reasonably well.

The one thing we want to bring to your attention is not to be suck in into the fake rally, wait for confirmation. This sort of market condition and the set up seems as though the bulls are ready to roam and how many times in history that has turn out to be a disaster.

We all know there are investors sitting on the sidelines waiting for opportunity to get into the market and then just as soon as fresh money entering the market, more often than not, turn out to be the losing money. Just remember, what seems to be obvious isn’t always the way it will be.

Earlier in the Asian session we have got report on China Trade Balance which came out much better than expected and the risk currencies, particularly AUD switch on the bullish mode but still within tight range. Now with China good data hitting the market as well as other nation around the globes this could provide a hint that the RBA might just as well keep Rate on hold in early February and if Rate is to be on hold then it would not come as a surprise to see the AUDUSD ballooning to 1.06; 1.08 or even retest of the high created back in July 2011 at 1.1080. and believe it or not, that will create a big headache for the RBA if the AUD rise to the level back in July 2011. That would be a bitter sweet way of killing an economy in the midst of currency war.

Impact News today:

07:00 am (NY) GBP – Asset Purchase Facility; Official Bank Rate
07:45 am (NY) EUR – Minimum Bid Rate
08:30 am (NY) CAD – Building Permits
08:30 am (NY) EUR – ECB Press Conference
08:30 am (NY) USD – Unemployment Claims
06:50 pm (NY) JPY – Current Account
08:30 pm (NY) CNY – CPI.


Trading Positions:

EURGBP – H4


Image



EURGBP – H1


Image



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

11 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Fri Jan 11, 2013 3:29 am

Monthly Summary:

Number of Trades: 14
Winning Trades: 10
Losing Trades: 4
Total Pip Gain/Loss: +487.8

11 Jan 2012 Daily review by myfxpedia.com:

Such a volatility for currency market during the European session, especially after the announcement of rate on hold and add on to the optimism during ECB President Draghi speeches. Although nothing that he said is new to the market and the only thing that seems to be so important for optimistic traders was the President’s rosy view of the market later in the year. That’s being said, we just wonder would that be enough for traders to actually banking on his words?

We do think that the markets especially the Euro was overshoot itself yesterday. The President did say of recovery But that is later in the year, not now, not in this first quarter nor even in the 2nd quarter. If we look at the fundamental of the European market, there is a thing that has change, the unemployment figures within the euro zone has not improve one bit. The latest Greece unemployment rate is still at 25% and 50% for young people, same for Spain which also recorded unemployment rate of 25%.

Basically, we think the Euro dollar has been overreacted and traders exuberance is well and truly exaggerated. Having saying that we don’t mean to say that the Euro cannot go any higher and yes, it can still shoot up to 1.33/34 or even 1.35 just to clean out all the remaining shorts before heading lower for a retest of 1.27ish and could even head lower toward 1.20 if Greece issue popping out of the radar.

Impact News today:

03:15 am (NY) CHF – CPI
04:30 am (NY) GBP – Manufacturing Production
08:30 am (NY) CAD – Trade Balance


Trading Positions:

As mentioned above, we have the Euro dollars was under the rocket which we somehow stand in the way in the EURJPY and EURGBP pairs and coped the loss as prices overshoot and defy the bearish pressure. Well, that’s part of trading and one just have to learn to take losses along the way. We still hold the view that this pair is way overbought. It has ran for over 2400 (weekly chart) since July 2012 without any significant pullback. Yes, we are acknowledging that there is a generation shift in the Yen but in the short to medium term these Yen pair appear to be way overbought.

We currently hold GBPNZD (1 entry) @ 1.9035. We exited the early entry for 20 pips profit and put in a pending buy order at 1.9108 and early in the Asian session the prices did actually retrace to as low as 1.9103 but due to the spread were high early in the Asian session our account with AxiTrader did not trigger. If any of you out there have entered at 1.9108 then you are well truly in profit now.

Below is the chart of USDCHF which we entered during the European session yesterday: We entered on Retest of breakout level back in early January, unfortunately, prices went through the support during president Draghi speeches. Please notice from the chart below I have amended stop lost 20 pips below previous low created on 02 January 2013. On wave count on H4, we are looking for resumption of short term uptrend and creating a wave 3 up to at least retest of previous high.

USDCHF – H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-11Jan2013bonus-USDCHFh4.jpg"]Image[/url]



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

14 Jan 2013 Daily review by myfxpedia.com

Postby Amelia » Mon Jan 14, 2013 5:47 am

Monthly Summary:

Number of Trades: 15
Winning Trades: 11
Losing Trades: 4
Total Pip Gain/Loss: +681.1

Yesterday:


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-14Jan2013best.jpg"]Image[/url]

Yesterday Pip Gain/Loss: +198.1


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-14Jan2013close.jpg"]Image[/url]

14 Jan 2012 Daily review by myfxpedia.com:

There isn’t much to add from the past trading week except for what we all knew about of the so call relief rally on risk assets after the Fiscal Cliff deal. Add on to the relief rally we have the bullish view came out of Euro Zone via President Draghi. Personally, we think they have actually underestimate the Euro Risk Crisis. Level head thinking we can see that with the US, they have big debt issues, however, it does not present a larger threat like the Euro Zone where insolvency and break up are the real possibility, they remain far from the light at the end of the tunnel. With current bullish sentiments It seems the Euro still have further to go, possibly toward 1.35 – 1.37 but in our view any push higher from this level (1.34) is a dangerous play for Long play. Remember, Sentiments as often than not always strike back.


Impact News today:

04:00 pm (NY) USD – FED Chairman Bernanke Speaks.

Trading Positions:
The All the Yen cross has been in the bull mode over the last 6 months without a stop for breather – 6 bullish monthly candle is just amazing. We don’t deny there is a generation shift in the Yen but the bullish run in a short period of time. What makes the EURJPY standout from other Yen pairs was the fact that we have short term bullish sentiment on the Euro couple that with bearish sentiment of the Yen. In our view this pair will be corrected over the coming days before the next leg up. Below we the weekly chart of EURJPY. We are trading this with the investor style where we will play with small lot sizes and wider stop.

EURJPY – Weekly


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-14Jan2013bonus-EURJPY.jpg"]Image[/url]



The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

PreviousNext

Return to Free real time trading signals



cron