Simple Forex System Trading

EUR/CHF Has Been Sleeping for a Long Time

Carl — Fri, 18 May 2012 17:16:24 +0000

This is the daily chart of EUR/CHF. It’s been hovering around 1.2000 for a long time. Eventually, it’s going up or down. Should we favor up since SNB is not going to be happy to see this pair fall below 1.2000.

Looking to Short EUR/USD on Daily Chart

Carl — Fri, 04 May 2012 03:15:10 +0000

I was looking to short EUR/USD at 1.3205 today but Euro never bounced back that much. I think I’ll stay on the sideline for now because tomorrow is yet again the dramatic U.S. job report day. Who knows? It can be a wild and crazy day tomorrow.

Short USD/CAD on Daily Chart

Carl — Sat, 28 Apr 2012 00:27:16 +0000

Well, Canadian Dollar broke the previous support at around 0.9865 on 4/25. Then it almost lost all of its strength on 4/26 and closed right below 0.9865. I placed a limit order to sell right at 0.9865. It resumed its sell pressure and never looked back. I did close the position though because I was afraid something dramatic might happen over the weekend.

What the Hell Is Going on with EUR/USD?

Carl — Wed, 25 Apr 2012 20:42:42 +0000

Shorted Euro-Dollar this morning at 1.3202 after it fell below the ‘thin’ red trend line. It then went down to 1.3185, then all the way back up to 1.3213. And then it couldn’t really decide where it wanted to go. Finally, it went down to 1.3175. That’s when I moved the stop loss to 1.3200. Shortly, it rocked 40 pips and I ended up with a 2-pip profit. What the hell? Oh wait. It was a ‘Fed Day’ today, wasn’t it?

EUR/JPY Imminent Breakout?

Carl — Fri, 20 Apr 2012 06:32:06 +0000

Whether it’s on the hourly chart or the 4-hour chart, EUR/JPY looks bullish and appears to be ready to take out the 107.30 ~ 107.50 resistance. Europe is about to open. Maybe it will just do that in the European session.

Is GBP/USD Finally on Its Way up?

Carl — Thu, 19 Apr 2012 05:10:10 +0000

British Pound had a good day today. It soared from 1.5894 to 1.6030. Looks like the very near term resistance is at around 1.6060 on the daily chart. Is it going to take it out and never look back?

EUR/USD Back in Trading Range on Daily Chart

Carl — Tue, 17 Apr 2012 07:41:26 +0000

What a crazy day today. Just as I thought EUR/USD was trading lower and might break the support line, it rocked during the U.S. session for whatever the reasons. Who knew?

Looks like within a day or two, we either see it trading below 1.30 or it may try to revisit the 1.33 area.

Long GBP/USD on Hourly Chart

Carl — Tue, 10 Apr 2012 18:50:13 +0000

Just entered long on GBP/USD hourly chart due to a trend break. Bought at 1.5854. Stop loss at 1.5800 because two recent hourly lows were 1.5804 and 1.5808. Take profit is at 1.5932, but that can change.

Time to Buy USD/CHF on Daily Chart?

Carl — Tue, 03 Apr 2012 19:59:37 +0000

USD/CHF almost reversed the trend last week, but failed to do so. Along with EUR/CHF, both pairs were approaching SNB’s red lines; 0.90 and 1.20, USD/CHF & EUR/CHF respectively. I thought SNB was not too happy to see that and would probably intervene again.

Today’s FED minutes finally pushed the bullish button. Another round of QE3 from the FED is not imminent. Dollar soared.

Is EUR/JPY Done with Bullish Trend for Now on Daily Chart?

Carl — Fri, 30 Mar 2012 16:15:41 +0000

Now, EUR/JPY has had a nice run up from 97.00 to 111.40 in a matter of 2 1/2 months. On the daily chart, it looks like it’s about to take a breather. Being Friday, I am not sure if it’s a good idea for me to open a position. I think I’ll wait.