Today is the first full trading day of the week and we expect the market to be very active. At present, I have already amassed two new positions (as above) after following the signals on my alert screen accordingly.
Tuesday, May 31, 2005
Signal #4-1: Closed GBP/USD at 1.8172, T/P Limit Hit
"There is no obvious reason why the euro will stop here given that sentiment is so negative.''
Yes, indeed. The euro continued to slide to a new low overnight, and as a result, my GBP/USD position has profited from it. Before the start of a new trading day, the position has already locked in a 60-pips profit after the take profit target was being hit successfully.
Yes, indeed. The euro continued to slide to a new low overnight, and as a result, my GBP/USD position has profited from it. Before the start of a new trading day, the position has already locked in a 60-pips profit after the take profit target was being hit successfully.
Monday, May 30, 2005
Signal #4: Sell GBP/USD at 1.8232
"The French result is a pretty negative signal for the euro."
"We're entering in a period of high uncertainty, and investors don't like uncertainty."
Today should be a low volume day due to the public holiday both in US and UK. I have cautiously entered a short position on GBP/USD mid afternoon after monitoring the price action in the morning.
"We're entering in a period of high uncertainty, and investors don't like uncertainty."
Today should be a low volume day due to the public holiday both in US and UK. I have cautiously entered a short position on GBP/USD mid afternoon after monitoring the price action in the morning.
Friday, May 27, 2005
No Signal Today; 85 Pips Profit for the Week
"The negatives within Europe are becoming too big to ignore.''
"The market has overreacted to the potential damage to the euro from a France 'no' vote.''
There are a lot of sideways price movements today due to the conflicting views from different parties. Hence, our system has advised us to stay on the sideline. A positive week with 85 pips profit.
"The market has overreacted to the potential damage to the euro from a France 'no' vote.''
There are a lot of sideways price movements today due to the conflicting views from different parties. Hence, our system has advised us to stay on the sideline. A positive week with 85 pips profit.
Thursday, May 26, 2005
Signal #2-1: Closed GBP/USD at 1.8200; Signal #3-1: Closed USD/CHF at 1.2372
"Compared to the rest of the world, the US economy is strong."
"This is the beginning of something larger."
No matter what, it is time for profit taking as our positions fought back into positive column. The results confirmed our techincal viewpoint in the end.
- Position GBP/USD yields a 70 pips profit
- Position USD/CHF yields a 80 pips profit
"This is the beginning of something larger."
No matter what, it is time for profit taking as our positions fought back into positive column. The results confirmed our techincal viewpoint in the end.
- Position GBP/USD yields a 70 pips profit
- Position USD/CHF yields a 80 pips profit
Wednesday, May 25, 2005
Signal #2: Sell GBP/USD at 1.8270; Signal #3: Buy USD/CHF at 1.2292
I have executed these two trades in the morning. However, the durable good report released in the mid afternoon has overturned the general dollar bullish price actions. I will continue to hold these positions until tomorrow.
Tuesday, May 24, 2005
Signal #1-1: Closed EUR/USD at 1.2610
“People may be worried about maintaining those big dollar long positions.”
“The correction is very small, and we think it's going to be temporary.”
“The market is taking a breather in the rally.”
As you already heard, the euro position opened yesterday finally wrapped up a loss of 65 by mid afternoon. Technical indications developed in the early morning have actually been ignored due to my persistent dollar bullish stance.
“The correction is very small, and we think it's going to be temporary.”
“The market is taking a breather in the rally.”
As you already heard, the euro position opened yesterday finally wrapped up a loss of 65 by mid afternoon. Technical indications developed in the early morning have actually been ignored due to my persistent dollar bullish stance.
Monday, May 23, 2005
Signal #1: Sell EUR/USD at 1.2545
“The dollar is poised for its longest winning streak against the euro since 2000.”
“The bear market has broken.”
“The U.S. is posting decent growth numbers, certainly better than in Europe.”
“The dollar still has room to move up. It could accelerate in coming weeks.”
All the above sentiments plus a signal in my technical chart prompt me to continue selling euro at 1.2545. However, the opened position currently makes a loss of 45. I already have a stop-loss level in sight in case the position deteriorates further. But it would be wiser to keep the position overnight in order to recoup the loss and possibly make a small profit in the end. Still positive.
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