Euro Trend

Chart courtesy of Advanced Get. Data provided by ESignal.

The Euro daily chart shows a divergence in the long term. You can discard the sub wave count as they may not be accurate but the Euro may need a kick start to continue an uptrend which possibly could have topped out. This is worth watching for break of support levels for further shorts.

Good luck and have a good weekend.

Euro Drop

Charts courtesy of Advanced Get and Metastock. Data provided by Reuters Quote Center and ESignal.

The Euro has been looking bearish and may have found a home temporarily and the MA. I will be waiting to see a break of that for a continuation or a bounce with volatility. Before the drop you will notice we reversed at 786. Notice the divergence on the daily.

Good luck.

Yen

Chart courtesy of Advanced Get. Data provided by eSignal.

Those of you using my method of mechanical trading will be short this pair already. If not then based on normal analysis this maybe a shorting opportunity now. I opened another short this morning with a 30 pip stop loss.

I shall leave you with Barry - The Turkey Catcher's - email to me. If he can do it then so can each one of you.

Good luck today.

-----------------------------------------------------------
IF I CAN DO IT ANYONE CAN

I started out working on a farm at 11 years old, when I left school I couldn't even use a computer. I left school to work full time in farming but soon realised there was more to life and began saving up my wages to invest towards a better life. My first investment was at the age of 21 in residential buy to lets and it it went from there. Now at 25 I have 6 houses that look after themselves and spend my time trading amongst other things.
I first met Javid at a seminar I attended about 18 months ago, meeting him was the best thing that I got from the seminar and we have been good friends ever since.Javid has tought me most of what I know and for this I owe him a great deal.
I have been trading for about two and a half years now although only really got into it after meeting Javid before meeting him I had only a very basic knowledge of trading and very basic returns to go with it.
Now I mostly use swing trading using a mechanical trading method on metastock, I like this because metastock finds the trades for me that meet my criteria thus saving me endless hours sifting through charts. I find this system very good and in the last week to date I have made 450 points profit using it.
If I can grow up knowing nothing of trading or computers and learn to become a succesful trader then anyone can, and I honestly belive that.
The most important rule I think I can give you is to let your winners run and cut your losers fast, this sounds simple but it suprising how many people do the complete opposite.

Thank you Javid.
Barry.

AUDUSD & USDCAD

Chart courtesy of Advanced Get. Data provided by Esignal.

Good morning,

Sorry for no update yesterday. I am revisiting the AUDUSD pair as we have now broken the triple top resistance but it is not yet all clear for taking out long position trades. The first chart is showing a previous resistance from 1996 at 8222. If the momentum and allows this pair to continue it's trend up then expect hesistation at around 8222. If we break that with a lot of buying then further upside should be expected.

As for the USDCAD pair, if we break the 50% retracement that looks like a wave 4 then I will not be trading that until we break the 1.618 highs of February.

Have a good trading day and I will be posting Barry's email tomorrow for those who have hesitation thinking trading mechanically could be difficult.

Euro & GBP Vs USD

Charts courtesy of Advanced Get. Data provided by eSignal.

Above are the 15 minute charts of the EURUSD and GBPUSD with todays PPs. Look for the support and resistance levels on both these pairs and the MA. We do not have major news items due out today but beware the US Open.

My turkey catching friend Barry was on the phone with me yesterday and raving about his mechanical trading and told me how many pips he had made. I am going to ask him to email me this weekend with details and will put it on here for next week so you can all see which I hope will answer all your questions as there have been so any emails regarding this matter.

Have a good trading day and a great weekend.

Euro Australian Dollar

Chart courtesy of Metastock. Data provided by ESignal.

As per two emails soon after my previous post, here is the EURAUD chart I was referring to. The chart does not display the whole screen intentionally to prevent questions regarding what the indicators are representing. The answers are not so simple especially for those who do not use this software so to save time and confusion I have just shown the top of the screen only.

Euro Dollar

Chart courtesy of Advancet Get. Data provided by ESignal.

The Euro 15 minute chart shows our reversal and I went short a little after that when the far east had opened for business. We are hovering around a PP at present with support and the next support is the MA. Watch for a break or bounce at the point if we get there and take the appropriate action. Anyone esle awake at that time who traded and I know one of you did as per our conversation at that time should be in around £500 profit now, so make sure you scale out and move your stop if you have not already done so.

The reason I was speaking with a friend so late last night is because he recently moved over to mechanical trading and decided to trust the analysis and not use there emotion for trading and I was helping set up the software for them. By the way Richard, I expect dinner sometime soon.

Using the mech trade Richard has been short the EURAUD cross at 1680 and is £2,500 in profit within 6 days and that was the first trade he had done since I explained what he needed to do. Unfortunately, I did not see the set up and missed out on the trade but got in this morning with just over £200 profit. Those using mech trade should look at this for another setup on the hourly.

By the I have a new phone today.

Lastly, I want to wish my friend Ro the best of luck today. Good luck mate and hope all goes well and I will give you a call in a couple of days time.

Sterling

Chart courtesy of Dynamic Traders. Data provided by ESignal.

Good morning, I didnt manage to get a good internet connection to update yesterday. Above is the 15 min chart of GBPUSD just after the news has come out. I had an order to open for a long and short and my short has been triggered. Market will probably go towards the moving average shown in red.

The AUDUSD is trying to test the resistance and if it breaks through with volatility and not a fake breakout then we could see it test the highs of 1996.

The USDCAD pair is now showing some strange characteristics for a continuation. However, I am still going to be long with a break above 1.618 should it get there. I would prefer for it to break that high and then do a pullback and continuation.

Lastly, I have lost my mobile so those of you trying to call me im sorry to say will have to wait another day or two until my replacement has arrived.

Good luck today.

Euro Dollar

Chart courtesy of Advanced Get. Data provided by ESignal.

I decided to add the Euro chart for you all. Please be aware of the 886.

As always, do your own analysis.

AUDUSD Triple Top

Chart courtesy of Dynamic Traders. Data provided by Reuters Quote Center.

It's that time again..........well possibly!

Above is the weekly AUDUSD chart and the top is in sight. I am awaiting confirmation via candle as unfortunately the Comms data is not clearly defined this week. However, the Comms data is showing shorting opportunities for the EURUSD and long opportunities for USDCAD pair. On the latter I would wait for the break above the high which was at the 1.618.

Good luck for this trading week to you all.

Euro

Chart courtesy of Dynamic Traders. Data provided by Reuters Quote Center.

Sorry but I didnt have time for updating yesterday.

Above is the Euro Dollar chart. I have been stopped out on the Euro short I had opened but have noticed the Comms are still short the Euro so will be looking to ro-open a short at sometime in the near future.

The USDCAD pair is range bound. A break above the high and the daily chart and I will look to open a long position again.

Have a good weekend and I will try to update during the weekend but certainly by Monday morning.

Frank has decided to take up a mechanical trading system today so good luck to you.

Mechanical Trading & £2000

I have had so many emails asking what a mechanical trading strategy is and how to get it I thought I would reply to everyone on the site as opposed to each person via email.

Firstly, the AUDUSD closed out for a small loss so no big deal. The USDJPY as suggested by one of my mechanical trading strategy made a good profit and those of you trading it as mentioned on Tuesday's post should have made £1000 or £2000 profit at least based on a standard account.

Ok, a mechanical trading strategy some of you thought was a black box system. It is not a black box system and unlike a black box where you do not know the formula behind the strategy, a mechanical trading strategy is one where you input your trading strategy into your software which then alerts you when trades that are within your criteria. This method of trading is far superior to trading based on guess work or news and takes out the emotion. You know your entry point and exit points which are clearly defined so greed, fear or hesitation is not an issue. I have been short the USDJPY for the last two weeks based on my mechanical strategy and again on Tuesday which provided nearly a £2000 profit.

I am not putting any charts up tonight as it is too early and will not update this on Wednesday morning so please consider this Wednesdays post.

I am short the EURUSD (daily chart 0.786 & candle) and still short the USDJPY but have scaled out the latter.

Best of luck and as always, please please do your own analysis.

USDJPY

Chart courtesy of Metastock. Data provided by Quote Center.

I had an email yesterday asking how my mechanical trading solutions work. Well I can't explain online how my emotion free solutions work as it is not so easy to do with text but I decided to show one of them and this is actually the easiest one.

The above chart is the USDJPY daily chart and based on this strategy I have been short for nearly two weeks.

The best way to trade is use mechanical trading which will be the main way to cut out the greed and fear element from your trading.

I am short the USDJPY and AUDUSD (with a tight stop).

Good luck today.

AUDUSD

Chart courtesy of Advanced Get. Data provided by ESignal.

Above is the AudUSD cross. We are still below the resistance and the sell the rallies is the likely strategy but look for a good entry for short. Possible fib cluster with PP.

Good luck.

Euro

Chart courtesy of Advanced Get. Data provided by ESignal.

Above is the Euro 4 hour chart. We have a trendline resistance just above where the price is right now. Sto is overbought but that does not mean we cannot stay overbought if price rallies. A break above the upper or lower trendlines would probably show further movements in either of those directions but price would require a catalyst and certain news items due out may provide just that.

There will be no update tomorrow. I will post again on Monday morning.

Kiwi Yen

Chart courtesy of Advanced Get. Data provided by ESignal.

The USDCAD cross has halted as predicted in the uptrend but once again this is only temporary I feel. We have further upside movement on this pair and using a limit to enter if we deal above the high of the reversal day could be one strategy for entry.

The NZDJPY cross has dropped nicely to the 200MA which due to divergence was expected. Watch this as it has produced a big move and possibly may range before the next big move.

The Yen looks weak aswell.

Good luck today and dont forget NFP on Friday.

Canadian Dollar

Chart courtesy of AdvancedGET. Data provided by ESignal.

Good morning

As I mentioned yesterday, look out for .786 and as you can see we have reversed from that and have a tram track in progress (not the end of the day to assume that is or will be a tram track). I hope you all have scale out. The trend is still intact and once again don't be fooled. This is the similar to tree shaking in shares. With currency it is just positions being closed for profits.

Remember we have NFP on Friday and expect some huge volatility then, but as we come up towards that we will see some ranging markets a day or two before hand. If that is the case then utilize other strategies I have shown you that are more appropriate.

Best of luck.

USDCAD

Chart courtesy of Dynamic Traders. Data provided by Reuters Quote Center.

Good morning traders. Hope you are all looking forward to another week of trading. After last weeks news the JPY has surprized a few of us and the EURJPY has broken support so all bets are off on that cross.

The USDCAD pair had a volatility breakout last week and seems set for a continuation. Beware the .786 so I will look to either scale out or if I am at home when price action is in proximity to .786 I will manually trail my stop on a 5 minute chart.

The Euro and Pound are looking fairly weak too.

Good luck.