Swissie divergence

Hourly macd is showing signs that the bulls are running out of steam. It just so happens that the 55ema is overlapped with the support trend line. the target will be 1.0425, just slightly above the 200ema and daily central pivot point.

CAD/JPY 1hr

If we see a pullback in gold and the swissie maybe this will be a nice opportunity to short some cad/jpy. As far as divergence the 15 min shows very slighty

Aussie divergence

the Aussie 15min chart shows macd divergence and a clear reversal at the M1 pivot point. If the trend line is broken to the upside along with the 55 ema, a long entry wouldn't sound to crazy.

Swissie Greenback

Descending Andrews pitchfork! there isnt any indication of macd divergence but there is stochastic divergence to the upside. right now the chart are saying get ready to short gbp, eur, and chf.....then buy some yen.

Swissie Yen

The swissie yen is stuck in an ascending channel, but there is clear macd divergence. This will be a nice little short on a break to the downside.

China has more internet users then the US - Euro trade is setting up

Macd divergence is telling a different story within EUR/USD price action. As price is moving up along this beautiful trend line macd is making a lower high! Also if we take a look at weekly pivot points its obvious the weekly central PP is acting as resistance, will we get a continuation? As far as currency correlation let see what the other pairs have to offer. Lets take a look at GBP/USD the euros little brother. I pulled the trigger on this trade late in the US session based on the andrews pitchfork in blue. But wait? This is one of those ah-hah moments; the gbp/usd is at the top of its pitchfork, the euro is showing hardcore macd divergance...hummm makes a trader wonder what might happen....

Swissiifer stuck in a wedge Update

The swissie trade went great, it put about 40 pips in my pocket. Price nailed my target to the pip, however it looks like it could move even farther down because the gbp/usd has broken through its channel. My plan was executed and now im down, there is no dwelling upon in this game.

Pound Dollar at it again

This is the GBP/USD 1hr chart. I'm thinking that today it might reach the top of the channel and then get rejected because today's M4 is at 2.0019......the top of the channel. I will only trade a break to the upside because like i said before, trading a downward channel to the downside is risky buisness.

A confused yen in a complex world

When i pulled up the usd/jpy chart today MACD divergence jumped out at me like a sore thumb! Price made a double top with macd divergence, now a break of the support line would be nice :-)

Swissiifer stuck in a wedge

This is the swissie 15min chart and it looks like price is stuck between these two lines in consolidation. I don't expect other pairs to move until the swissie makes a move up or down. considering the overall trend recently for the swissie is up, there is a better chance of a break to the upside, but anything can happen.

EUR/JPY Totally Tubular

The EUR/JPY has two support lines in play right now. If the first one is broken we are going to the second. As far as pivot theory we are looking at a R1->S1 (168.56)

To bad its friday

Its to bad the trading week is already ending. Lately Ive been thinking of classic movies i haven't watched in a long time and these came to mind. The first one, weekend at Bernie's is about two guys who try to pretend that their murdered boss is still alive, great movie. The other movie is Saving Silverman, which is about two friends trying to stop silverman from getting married. This movie is right up thier on my list. Time to take my mind off trading for a bit and relaxxxxxx.

Oil's got the scuzzys

Oil prices falling?!?! What this is crazy, today if the candle closes under the trend line this recent uptrend is over! It is interesting to note that oil moves the same way the Loonie does; once oil starts moving it takes off and leaves no one behind, unlike some other instruments. The spread on oil and the Loonie aren't that large so it makes me wonder why they move the way they do. Every currency pair has its own personality right?

Crazy crown damages my account

Oh no! The euro trade was stopped out as well! These were solid trade plans but i guess my timing was just...off! oh well there will be some better trades tomorrow!

Pounding the dollar that could have been

Aw nuts! the gbp/usd didn't do what i thought it was going to do. i came out of this one with a small 30pip loss, the plan was solid but what hopppppppened?

Pounding the dollar setup Update

This trade has also been executed, nothing to do but sit back and wait. The target is still R1->S1 at 1.9920 (the blue horizontal line)

Crazy crown Update

The Crazy Crown has been breached! I caught my entry at 1.5828. The target is M3->M1 for about 100 pips

Pounding the dollar setup

I had the suddn urge to pull up a GBP/USD chart just because i dont look at this pair too often. A clear lower support line is in play; maybe if the euro can break his trendline the gbp/usd will follow, the aussie and nzd are certainly leading the race. If the trendline is broken the target will be R1->S1

Crazy crown

It seems the market came back to the scene of the crime to retouch the crown support line, which is now resistance. But here is a new trade idea; a trend line off the crown. Since i pulled out of my positions yesterday this could be my opportunity to catch the move. Ive never setup a trade like this before, it will be interesting to see how well it works.

Youtube coming to TiVo New Zealand Dollar falls on news...to late run for cover

Unfortunately i was sleeping when this trend line was broken...Its the thought that counts right? It seems that daily trend line i posted eariler is topping the upside for this pair. Maybe this is truly the top for oil and gold? Who knows, but until this daily trend line is broken i probably wont shift gears.


<-Daily Chart

the crown that could have been.

Well it seems we didn't get a Central Pivot -> S2 today. It is understandable because by the time price got to M1 it was very late in the day. Who knew it would stop at M1? Not me! i just closed my short due to some shorter term divergence on the 5min and a 55-> 200 Ema break. it wasn't the pips i was expecting but you cant whine about a 90 pip day :-)

Stubborn aussie

The Aussie dollar trade has been closed, he is being a stubborn little pair, everything was in sights but it just didn't happen. I made about 30 pips so I'm not complaining; i zoomed in on the 5 min and found out that there was macd divergence, hinting that this pair probably isnt moving to the downside.(oh yah it double bottomed too.)

Home runs move market after record highs

This Aussie short trade has been open since the Asian session yesterday. Pivot points are aligning perfectly; M3->M1. Might i note that gold has moved down over $15.00 per troy ounce.

Euro hesitates than makes a crown play

I pulled myself out of bed around 9:30 Chicago time right when the lower support for the crown was broken! That's timing for you! My target right now is pivot -> S2. This crown pattern made me think of a question i have never thought of. As you can see on this chart the crown pattern was broken to the upside during London, wait that wasn't supposed to happen? I said to myself would i have traded to the upside if i were up? NO! My original plan was to short and that's what i did, dont buy toppish reversal patterns!

Queen Elizabeth II strips Mugabe of knighthood - Euro takes the crown!

The euro is creating a nice crown pattern after the recent high at 1.6037. What strikes me more than this charming crown pattern is the Aussie support trend line i was watching earlier! If the Aussie can break below support and London traders carry out this crown pattern we could have two trades setup in the firing sights of currency correlation.

Morneau's home runs cause ripples in Australian Dollar market, new records since 1988

The primary fiduciary of the dollars demise is yet again making new highs. A birdseye view of the aussie chart reveals a new alltime high at .9850...almost parity! Prices at the extreme always give a pullback. A pullbackback would be defined as a break of this little 15min trendline. Hopefully i can catch this one after work!

Microsoft confirms Xbox 360 price cut, will commodities follow?

A zoom out on the daily chart shows the New Zealand Dollar is battling a long term trend line that goes back to March. A break of this line could hint another large move in commodities! The idea isn't all that out of proportion, CNBC's current headline is "Bernanke: Economy Weak, Inflation Threat Rising" It will be interesting to watch the price of gold and oil as stagflation lurks around the corner.... :-o ut-oh

Swissie overcomes anxiety, will bernanke perscibe medication?

It seems my estimation was wrong, the dollar has fallen a lot faster then i thought. Heh just one day ago i said i don't expect a trade until September WHOA? good try though Matt. The swissie has fallen below the lower support line....be careful grasshopper these kinds of trades are dangerous. Im not taking it because i dont like this setup in the mean time more trades are around the corner.

On the other side of the fence sweet pips climb into account

Banking pipage is always a good feeling, especially textbook trades that can be done over and over again; this trade was a textbook trade. However, i split my lot size in half to .5 Standard lots so i could run a stop farther away. Great plan great execution!

As i sleep, images of sugar pips fill my head, but the forex monster visits with dread

OH BABY! the forex monster visited my dreams! i got pulled out of my AUD/JPY position before she fall to the other trendline!!! thats what i get for running to close of a stop. The 7 pip spread didnt help me on that stop hehh

No pictures hit the market yet, euro breaks trendline on small rally

The Eurodollar has broken the resistance trend line. The target will be a 61.8% retracement -> 121.4% extension. Only time will tell now....

Picture of Angelina Jolie's baby worth more than matt halko's life - Euro creates another tendline on news

The euro has retested the trend line i drew earlier but looks like it has bounced off. A break of the new trend line would be a hint that the market might take this pair higher. Right now my AUD/JPY position is still open short...swap is a killer :-/

Rumors spread of swissie feeling anxiety, Stuck in a channel with no options

Not a trade yet but worth noting; the swissie has been in this 4hr channel since may 9th! I don't expect this to turn into a trade until at least the beginning of September or mid September but this channel can be used as a good prediction of where the other pairs are going. Once price get to the bottom of the channel, the euro chart might be setting up even better for a short. What happens if we break below the bottom support line? I wont trade it! When a pair runs downhill for a long time and runs even farther down, supply and demand is out of sync in the direction agasinst me :-/

Aussie yen ready to dive in? ....naked?

The lower trend line is a two hour support line that goes back maybe a week or so. The timing for this trade might be off if it breaks too early. I have found that taking trades after 1pm - 8pm new york time usually lacks follow through. After Asian opens money starts to creep back into the market..especially into the yen pairs.

Pounding the dollar is going dually

Like the Eurodollar the British pound is setting up a dual trend line. These trend lines seem to be a bit more steep though....so maybe they will be easier to break yes? I have the slightest feeling that these two pairs are going to keep making highers highs, just a hunch....i don't trade on hunches ; a break of these trend lines will be good for me :-)

EUR/USD Dually Trend Line - Euro ready to take a dive?

A beautiful dual trendy setting up on the eur/usd 1 hour chart! Has the trend ran out of steam or will it keep going? A closer look at macd shows that the trend is quite strong. As price has been moving up macd had been making higher highs as well, we will see how this one plays out.