USD / SGD Update: Friday 27th July 2012 15:33

USD / SGD

All though I was stopped at break even by the spread on this trade, I thought it was worth pointing out that the trade has, albeit slowly progressed towards the target.

Chart below:

 

I will update again when the next strategy trade presents itself

Have a great weekend.

Best Regards

USD / SGD Update: Thursday 26th July 2012 08:00hrs

USD / SGD

Price made a new low and the stop was moved to break even to remove the risk on this position

During a slow, low volume Asian session, price has retraced to the entry level and I have been stopped out at break even by 2.3pips. The Spread is 5 on this pair

Price has now made a lower low and the down trend is continuing, without me. (BUGGER)

Chart below:

 

I will update again when the next strategy trade has been identified.

Have a good day

Regards

USD / SGD Update: Wednesday 25th July 2012 18:49hrs

USD / SGD:

I have been triggered into the trade by the first order at 1.2575.

I am short 0.5%

Price has now broken down and made a new low through 1.2556.

I have moved the stop to break even to eliminate the risk on this position.

Chart below:

I will leave the stop at break even tonight and trail the stop down for as long as is possible.

I have a target of 2.5% at 1.23875 my Limit order is in place to take me out of the trade should price move down to this level.

I will update again tomorrow morning.

Have a great evening

Best Regards

USD / SGD: Wednesday 25th July 2012 14:21hrs

USD / SGD (Singapore Dollar)

This pair is in a long term down trend.

Chart below:

Price is trapped in a negative trend channel.
Price has recently retraced back to the daily 20 ema.

Chart below:

 

Price has now broken back through the averages. I am looking to enter short a short position when price pulls back to the averages, and the stochastic is in an over bought zone.

Levels and Chart below:

1st Entry: 1.2575

2nd Entry: 1.2590

Averaged entry: 1.2582.5

Stop loss: 1.2620

Target: 1.2395

I will update again if and when we are triggered into the trade.

Regards

Amendment to risk: Tuesday 24th July 2012 11:15hrs

Strategy Amendment:

Risk.

Over the past few months, weeks and including this morning, I have identified trade set ups that require price to break out and pull back.

Price makes a move allowing me to confirm the directional bias. Price then begins pulling back to allow for a better risk reward entry on the trade.

However over the past few months price has not pulled back enough to pick up my order and I have been left frustrated on the sidelines. As was the case with EUR / JPY this morning.

To prevent this I have decide to scale into the trade.

I will have 0.5% risk on the first entry and 0.5% risk on the second entry.

Total risk will remain at a maximum of 1% PER TRADE

The strategy remains exactly the same, I will just place two orders on each trade.

This should eliminate scenarios such as this mornings EUR /JPY trade.

I am sure you are all familiar with this approach but just in case I will use the trade from this morning to show how I expect this to work.

EUR/JPY Short.

1st Entry: 94.70

2nd Entry: 94.80

Averaged entry: 94.75

Stop Loss for both entries: 95.05

Target: 93.25 5%

Chart below:

 

I will need you to amend the risk on your software with 4 X Solutions.

Can you please confirm that you are in agreement with this small change, and if so you have made the amendment with 4 X Solutions to your account.

I will continue with one order with 1% risk until I have your agreement.

I look forward to hearing from you.

Best regards.

Scott

EUR / JPY Update: Tuesday 24th July 2012 10:53hrs

EUR / JPY.

My level on this trade was 94.80 as previously motioned.

Price pulled back to 94.77 and has moved away to a low of 94.55.

I have removed my order to short this pair.

Chart below.

This has become a recurring issue, however I have an amendment to the strategy that will resolve it.

I will email you the detail later this afternoon when I have it written down clearly.

Regards

EUR / JPY. Tuesday 24th July 2012 07:27hrs

EUR / JPY

This pair is in a down trend. I am looking for short opportunities

Chart below

Price is currently supported by the Daily Central Pivot Point at 94.80.

Should this support break I will be looking for an entry on the pull back to this level with an over bought stochastic.

Chart below

I will update with the levels once the break has taken place.

Regards

Cable & EUR / USD Update: Thursday 5th July 2012 16:35hrs

Cable & EUR / USD

Cable & EUR / USD have been to within 10 pips of their targets

Once again I am reporting that I have read the market but have not profited from it.

I can only apologise.

Charts below.

Cable

EUR /USD

 

I will post again when the next strategy trade has been identified.

Have a good evening

Regards

Cable & EUR / USD Update: Thursday 5th July 2012 08:22hrs

Cable & EUR / USD

Price has moved to within 15 pips of my orders and has sold off without triggering the trades.

I have removed my orders to open.

Charts below

Cable

EUR / USD

Regards

EUR / USD: Thursday 5th July 2012 07:44hrs

EUR / USD

I tried to short this pair on Tuesday and was stopped for -1%. However there is still a chance for the short set up to work out on the pull back today.

EU is in a mid term down trend

Chart below:

Price has pulled back to the 38.2% Fibonacci level and yesterday broke down through the averages providing a second chance at the short trade.

I have an order to open as below.

Entry levels and chart below.

Entry: 1.2550

Stop: 1.2590

Target: 1.2350 (5%)

I will update again if and when I am entered into the position

Regards

Cable: Thursday 5th July 2012: 07:34hrs

Cable:

Cable is in a  mid term down trend and I am looking for short opportunities.

Chart below

On the daily chart cable has pulled back to the 50% Fibonacci level of the last move down.

Price has stalled at 1.5720 area and yesterday broken down through the averages to provide a short trade set up.

I have an order to open as detailed below.

Entry and chart below:

Entry: 1.5640

Stop: 1.5670

Target : 1.5490 (5% and previous swing low on the chart)

I will update again should I be triggered in to the position.

Have a good day

Regards

EUR / USD Update: Tuesday 3rd July 2012 16:11 hrs

EUR / USD

Price has been unable to hold below the trend line and the averages and I have been stopped for -1%

Chart below:

 

I am looking for the next strategy trade and will update again when it has been identified.

Best Regards

EUR / USD Update: Tuesday 3rd July 2012 13:32hrs

EUR / USD.

EUR / USD has broken the trend line and i have an order to short this instrument as shown below

Entry and chart below:

Entry: 1.2575

Stop: 1.2605

Target: 1.2425

EU Chart:

 

I will update again when the trade has been triggered.

Regards

EUR / USD: Tuesday 3rd July 2012 10:17hrs

EUR / USD

This pair is in a down trend. Price has pulled back to the 38.2% Fibonacci level at 1.2745.

Chart below:

I am looking for a short entry.

Price is currently supported by a trend line at 1.2565.

Should I see a break of this level then i will look to enter short on a pull back with the stop loss above.

US Independence Day (4th July) tomorrow so it may be slow, however if I can get a break and move the stop down to remove the risk I think its worth a shot. NFP is on Friday and we may get a nice move on the back of the Jobs report.

Chart below:

I will update again should the break take place, with the entry levels and stop placement.

Have a good day.

Regards