NZDJPY

Ok, it is 10.10am and I have just closed off my NZDJPY trade that I opened yesterday. It has made a few hundred pips profit and having had some emails yesterday I congratulate those that took this trade based on your own and additional analysis.

I will not be updating with any other charts until Monday.

Have a good weekend.

NZDJPY

I am short on the NZDJPY (15 minute chart above) this morning but I am watching it carefully as we are not far off $90 support level if it gets that far so I am aware of a possible reversal. I showed this chart to some of you guys ysterday evening and it is still producing good profits from one of my mechanical tading methods.

Good luck today and happy trading.

Well done!

I spoke with Soodi the dentist yesterday and he has informed me he has applied for retirement from dentistry from November. My understanding is he has to give 3 months notice to a medical board. His words were dentistry is holding me back from my trading. Seeing as he has earned over £200,000 in about a year I can fully understand why he has said that.

Barry the turkey catcher is enjoying his retirement and I will actually be seeing him shortly. He seems extremely happy he is no longer working and who can blame him. Catching turkeys must have been exhausting.

I had an email yesterday from someone yesterday asking why I was day trading with the chart I had put up yesterday and also what the strategy was. I was day trading yesterday and will be for this week in addition to my usual trading because Anne has been shopping recently and is again today (need I say more). The strategy I used is a simple strategy based on momentum and trend strength. The strategy showed strength to the downside and gave me a sell signal so I shorted based on my mechanical entry. The analysis was done on Metastock. I will talk more about trading strategies tomorrow.

At the time of writing this I could not find a decent set up on any charts so will update again tomorow morning.

Good luck for today and happy trading.

15 Minute Selling

The 15 minute chart on Cable is looking a little weak for this morning so we may have a continuation of yesterday. I have moved my stop down to lock in more profits.

Happy trading

Sterling

Due to technical difficulties after having my broadband upgraded to 20 meg I could not log on at at all so I am updating the site somewhat late using my trusty 2 meg broadband connection which works fine.

The chart shows weakness in GBPUSD after what looked like a bearish flag the Cable has moved down over 100 pips today. Further weakness is likely but beware the Pound will probably try and clawback some losses soon so stop management will be a priority on this.

Happy Trading.