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Trade Signal November 09, 2009

noreply@blogger.com (Unknown) — Mon, 9 Nov 2009 14:47:00 +0800

Update at 7.00 GMT
Base on IBFX Chart

GBP/USD

Sell limit at 1.6715
TP1 = 1.6656
TP2 = 1.6586
SL = 1.6764
TS = when TP1 hit Move SL to BEP.

Good Luck...!!!

Trade Signal October 01, 2009

noreply@blogger.com (Unknown) — Thu, 1 Oct 2009 14:52:00 +0800

Update at 7.00 GMT

EUR/USD

Buy Limit at 1.4565
TP1 = 1.4615
TP2 = 1.4665
SL = 1.4515
TS = 50 pips

GBP/USD

Buy Limit at 1.5955
TP1 = 1.6005
TP2 = 1.6055
SL = 1.5905
TS = 50 pips

Good Luck...!!

Trade Signal September 29, 2009

noreply@blogger.com (Unknown) — Tue, 29 Sep 2009 15:25:00 +0800

Update at 7.30 GMT

EUR/USD

Buy Limit at 1.4590
TP1 = 1.4635
TP2 = 1.4705
SL = 1.4540
TS = 50 Pips

GBP/USD

Buy Stop at 1.5872
TP1 = 1.5922
TP2 = 1.5972
SL = 1.5822
TS = 50 pips

Good Luck...!!!

Trade Signal September 28, 2009

noreply@blogger.com (Unknown) — Mon, 28 Sep 2009 15:12:00 +0800

Update at 7.18 GMT
Base on IBfx Chart

EUR/USD

Sell at 1.4630
TP1 = 1.4560
TP2 = 1.4510
SL = 1.4680
TS = 50 pips

GBP/USD
Sell Limit at1.5883
TP1 = 1.5830
TP2 = 1.5755
SL = 1.5933
TS = 50 pips

Good Luck...!!!

Trade Signal September 25, 2009

noreply@blogger.com (Unknown) — Fri, 25 Sep 2009 15:01:00 +0800

Update at 7.10 GMT
Base on IBFx Chart

EUR/USD

Sell Limit at 1.4690
TP1 = 1.4580
TP2 = 1.4515
SL = 1.4740
TS = 50 pips

GBP/USD

Sell Limit at 1.6025
TP1 = 1.5785
TP2 = 1.5615
SL = 1.6075
TS = 50 pips

Good Luck ....!!!

Trade Signal September 24, 2009

noreply@blogger.com (Unknown) — Thu, 24 Sep 2009 14:57:00 +0800

Update at 7.10 GMT
Base on IBfx Chart.

EUR/USD

Sell Stop at 1.4750
TP1 = 1.4665
TP2 = 1.4600
SL = 1.4800
TS = 50 pips

GBP/USD

Sell Limit at 1.6375
TP1 = 1.6295
TP2 = 1.6235
SL = 1.6325
TS = 50 pips

Good Luck...!!

Trade Signal September 23, 2009

noreply@blogger.com (Unknown) — Wed, 23 Sep 2009 16:56:00 +0800

Update at 9.00 GMT
Base on IBfx Chart

EUR/USD

Buy at 1.4800
TP1 = 1.4870
TP2 = 1.4935
SL = 1.4750
TS = 50 pips

GBP/USD

Buy Limit at 1.6395
TP1 = 1.6445
TP2 = 1.6520
SL = 1.6345
TS = 50 pips

Good Luck...!!!

Trade Signal September 22, 2009

noreply@blogger.com (Unknown) — Tue, 22 Sep 2009 15:06:00 +0800

Update at 7.10 GMT
Base on IBfx Chart

EUR/USD

Buy Limit at 1.4725
TP1 = 1.4770
TP2 = 1.4825
SL = 1,4675
TS = 50 pips

GBP/USD

Buy Limit at 1.6260
TP1 = 1.6330
TP2 = 1.6400
SL = 1.6210
TS = 50 pips

Good Luck...!!!

Trade Signal September 22, 2009

noreply@blogger.com (Unknown) — Tue, 22 Sep 2009 15:06:00 +0800

Trade Signal September 21, 2009

noreply@blogger.com (Unknown) — Mon, 21 Sep 2009 15:08:00 +0800

Update at 7.10 GMT
Base on IBfx Chart

EUR/USD

Buy Limit at 1.4655
TP1 = 1.4695
TP2 = 1.4770
SL = 1.5610
TS = 50 pips

GBP/USD

Buy Limit at 1.6165
TP1 = 1.6215
TP2 = 1.6295
SL = 1.6115
TS = 50 pips

Good Luck...!!!

Trade Signal September 18, 2009

noreply@blogger.com (Unknown) — Fri, 18 Sep 2009 17:02:00 +0800

Update at 9.08 GMT
Base on IBfx Chart.

EUR/USD

Buy Limit at 1.4675
TP1 = 1.4725
TP2 = 1.4775
SL = 1.4725
TS = 50 pips

GBP/USD

Buy Limit at 1.6330
TP1 = 1.6380
TP2 = 1.6470
SL = 1.6280
TS = 50 pips

Good Luck...!!!

Trade Signal September 17, 2009

noreply@blogger.com (Unknown) — Thu, 17 Sep 2009 17:29:00 +0800

Update at 9.30 GMT
Base on IBfx Chart

EUR/USD

Sell limit at 1.4745
TP1 = 1.4695
TP2 = 1.4660
SL = 1.4795
TS = 50 pips

GBP/USD

Sell Limit at 1.6540
TP1 = 1.6480
TP2 = 1.6430
SL = 1.6590
TS = 50 pips

Good Luck...!!!

FOREX-Dollar drops to near 1-year lows on stocks, recovery

noreply@blogger.com (Unknown) — Thu, 17 Sep 2009 10:53:00 +0800

* Dollar slide continues on higher stocks, risk appetite

* Dollar hits lowest since September vs euro, basket

* Yen rises to 7-month high against dollar

* Fujii: Strong yen has merits for Japanese economy (Adds comment, detail, updates prices)

By Wanfeng Zhou

NEW YORK, Sept 16 (Reuters) - The dollar dropped to near one-year lows against the euro and a basket of currencies on Wednesday as optimism about the global economy eroded the greenback's safe-haven appeal.

U.S. stocks hit fresh 2009 highs as increased industrial production reinforced hopes the economy was gaining speed. Improving risk appetite pushed higher-yielding currencies like the Australian and New Zealand dollars up more than 1 percent.

Traders have sold the dollar heavily this month as recovery hopes diminished safe-haven demand. The prospect of low U.S. yields and concerns about the U.S. fiscal deficit fueled dollar selling.

"There's still this persistent link between Wall Street and risk," said Ronald Simpson, managing director of global currency analysis at Action Economics in Tampa, Florida. "With stocks going up, it continues to be very difficult for the dollar to rally."

U.S. industrial output advanced for a second consecutive month in August, while higher gasoline costs pushed up consumer prices, although economists said the risk of inflation remained low.

"The data still suggests strength in the U.S. economy in the second half," said David Gilmore, a partner at Foreign Exchange Analytics in Essex, Connecticut. "If we see strong numbers between now and next March, it's going to be pretty hard to get in the way of equities going higher and risk assets going higher."

In late New York trading, the euro EUR= rose 0.5 percent to $1.4731. It had earlier climbed to $1.4736, the highest since late September.

The ICE Futures U.S. dollar index .DXY, which tracks the dollar against a basket of six other major currencies, fell as low as 76.151, its weakest in nearly a year. It last traded down 0.5 percent at 76.178. The index has declined about 2.5 percent so far in September.

CAPITAL OUTFLOWS

Adding to pressure on the dollar was Treasury data showing foreign investors sold U.S. assets for a fourth straight month in July, with private outflows hitting their highest since February.

"The headline number certainly paints a bit of a dark picture with regard to overall demand for U.S. assets," said Omer Esiner, a senior market analyst at Travelex Global Business Payments in Washington. "The momentum is clearly poised for further dollar decline. Optimism about a near-term recovery ... will continue to drive sentiment."

Despite the sharp move lower, analysts said the dollar's recent weakness is unlikely to be a concern for the Obama administration as it tries the bring the economy out of the worst recession in decades. A weaker dollar will benefit U.S. manufacturing and exports although the government's massive stimulative measures could push up inflation down the road.

Against the yen, the dollar fell 0.2 percent to 90.79 yen. It earlier fell to 90.10 yen, according to Reuters data, the lowest since February, after Japan's incoming finance minister said a strong yen had advantages for the nation's economy.

Hirohisa Fujii also said he was opposed to currency intervention if movements were gradual, while adding that current moves were not rapid.

Some traders said Fujii's comments suggested that the new government, like the old one, remained concerned with the speed of yen rise. The risk of intervention may limit yen gains around 87 yen, a level hit earlier this year for the first time since 1995.

In other trading, the Australian dollar gained 1.3 percent to US$0.8746 and the New Zealand dollar was up 1.4 percent at US$0.7142. (Additional reporting by Nick Olivari; Editing by Leslie Adler)

Trade Signal September 16, 2009

noreply@blogger.com (Unknown) — Wed, 16 Sep 2009 14:31:00 +0800

Update at 6.31 GMT
Base on IBfx Chart.

EUR/USD
Buy Limit at 1.4680
TP1 = 1.4715
TP2 = 1.4760
SL = 1.4630
TS = 50 pips

GBP/USD
Buy Limit at 1.6470
TP1 = 1.6515
TP2 = 1.6630
SL = 1.6420
TS = 50 pips

Good Luck...!!!

Trade Signal September 15, 2009

noreply@blogger.com (Unknown) — Tue, 15 Sep 2009 13:32:00 +0800

Last Update 8.10 GMT
Base on IBFx Chart.

EUR/USD

Buy Limit at 1.4600
TP1 = 1.4680
TP2 = 1.4730
SL = 1.4550
TS = 50 pips

GBP/USD

Buy Limit at 1.6600
TP1 = 1.6680
TP2 = 1.6750
SL = 1.6550
TS = 50 pips

Good Luck....!!!

FOREX-Risk aversion lifts dollar, pound falls after BoE

noreply@blogger.com (Unknown) — Fri, 7 Aug 2009 18:58:00 +0800

* Sterling tumbles as BoE expands asset buying program

* ECB keeps rates at 1 pct, sees gradual recovery in '10

* Fewer U.S. weekly jobless claims than expected

* Risk-taking fades as markets await nonfarm payrolls (Recasts; updates prices, adds comment, changes byline)

By Steven C. Johnson

NEW YORK, Aug 6 (Reuters) - Sterling plunged on Thursday after Britain's central bank said it would pump more money into a still fragile banking system, while the dollar gained on the euro ahead of a much anticipated U.S. employment report.

The Bank of England did not change interest rates but surprised markets by raising the size of a bond purchasing program designed to boost lending and support the economy.

That knocked sterling off a 10-month peak above $1.70, pushing it down more than 1 percent against the dollar. It also lost ground to the euro after the European Central Bank left interest rates at 1 percent and predicted a recovery in 2010.

Analysts said the BoE's move suggested the U.K. economy is still struggling and injected caution into a market eager to buy higher-risk currencies and assets.

"The BoE move was a surprise and is a double-edged sword. It's reassuring that they are prepared to do what's needed but also hints that the global recovery may not be as aggressive as markets had thought," said Mike Moran, senior FX strategist at Standard Chartered in New York.

Thursday's bout of risk aversion hit Wall Street stocks [.N], and lifted the U.S. dollar off multimonth lows against the euro and other currencies as investors sought a safe haven.

Investors also hedged positions ahead of Friday's nonfarm payrolls data, which are expected to show the pace of U.S. job losses slowed in July [ID:nN05247775].

The euro fell 0.5 percent to $1.4338 EUR=, retreating from a nine-month high of $1.4446 earlier this week. The dollar rose 0.7 percent to 95.55 yen JPY=, while sterling fell 1.3 percent to $1.6758 GBP=. The euro also rose 0.6 percent against sterling to 85.52 pence EURGBP=.

Standard Chartered's Moran said markets were ripe for a pullback as equities, commodities and several foreign currencies have pushed into overbought territory in recent sessions.

To reignite the rally, markets will want to see that the U.S. labor market is following the manufacturing and housing sectors, which have both flashed some encouraging signals that the worst of the recession may be over, he said.

Economists polled by Reuters expect data to show employers cut 320,000 jobs in July, down from the loss of 467,000 jobs the prior month.

"There's a lot of hesitation ahead of the big nonfarm payrolls number tomorrow," said Samarjit Shankar, a director of global FX strategy at Bank of New York-Mellon in Boston.

Data on Thursday showing the number of Americans filing for first-time jobless benefits fell in the week to Aug. 1 whetted appetites for more good news on the job front.

But there's still reason to be cautious, meaning that currency investors may want to be wary of prematurely extending bets against the dollar, analysts said.

"The harsh reality is that companies are not going to start hiring anytime soon. Consumers won't be able to bring this country out of recession via spending," said Jessica Hoversen, fixed-income and currency analyst at MF Global in Chicago. "And in Europe, some of its largest economies are still very fragile." (Additional reporting by Vivianne Rodrigues; Editing by Jeffrey Benkoe)

FOREX-Dollar edges up but hovers near 2009 low vs euro

noreply@blogger.com (Unknown) — Wed, 5 Aug 2009 15:39:00 +0800

* US dollar near 2009 low vs euro after better housing data

* Softer world stocks, oil encourage some profit-taking

* Caution ahead of ECB, BoE decisions, US jobs data

* Aussie edges lower from 10-month highs after RBA (Updates prices, adds comment, Canadian dollar move)

By Steven C. Johnson

NEW YORK, Aug 4 (Reuters) - The U.S. dollar gained modestly on Tuesday, but traded near its 2009 low against the euro as a surprisingly strong U.S. housing report boosted hopes that the worst of the recession was over.

Upbeat U.S. and China manufacturing data had pushed the dollar down sharply on Monday, giving investors confidence to buy foreign currencies and riskier assets such as stocks.

But profit-taking in world stock markets on Tuesday helped the dollar rebound, though a 3.6 percent rise in pending U.S. home sales kept it on the defensive.

"We're taking a breather today but the market is still tilted toward higher risk appetite," said Matthew Strauss, senior currency strategist at RBC Capital Markets in Toronto.

The euro was down 0.2 percent at $1.4393 EUR= after trading as low as $1.4368. It hit a nine-month high of $1.4445 on Monday, according to Reuters data.

The dollar slipped 0.1 percent to 95.23 yen JPY= while sterling hit an eight-month high of $1.7004 GBP= before easing back to $1.6928, down about 0.1 percent.

The Australian dollar hit $0.8470 AUD=, its highest level against the U.S. dollar since last September, after the central bank kept interest rates steady, but dropped its easing bias, boosting expectations of a rate hike this year. It was last up 0.1 percent at $0.8432.

The greenback rebounded from a 10-month low against the Canadian dollar to trade up 0.8 percent at C$1.0740.

The move accelerated after Canada's finance minister said the Canadian currency was too strong against its U.S. counterpart and added that "there are some steps that could be taken to dampen that.

Jay Meisler, principal at Global-View.com, an online forum for investors and traders, said such verbal intervention is "a wild card" traders have to watch, adding that European Central Bank officials may also face questions about euro strength when a monthly policy meeting ends on Thursday.

The Swiss National Bank has gone a step further and bought euros and dollars in the currency market to limit Swiss franc appreciation.

DOLLAR STILL FRAGILE

But analysts said investors remained bearish on the U.S. dollar and hopeful that better-than-expected second-quarter corporate results and improvement in global manufacturing activity mean the worst of the recession is over.

That has dried up demand for the dollar as a safe haven and on Monday pushed the U.S. benchmark S&P 500 index .SPX above the 1,000-point mark for the first time in nine months. European shares also hit a nine-month peak.

"Good news for the U.S. economy is bad news for the U.S. dollar," said Andrew Wilkinson, senior market analyst at Interactive Brokers in Greenwich, Connecticut.

For now, a forthcoming U.S. employment report and policy decisions from the ECB and Bank of England have tempered some of the animal spirits.

U.S. jobs data is due on Friday, and the median estimate of economists polled by Reuters is a 320,000 job loss in July, following June's tally of 467,000 job cuts.

"Dollar sentiment, and the dollar itself, remain fragile," said Nick Bennenbroek, head of currency strategy, at Wells Fargo Bank in New York. "U.S. employment figures likely hold the key to this week's greenback performance."

Trade Signal March 05, 2009

noreply@blogger.com (Unknown) — Thu, 5 Mar 2009 19:03:00 +0800

Update at 11:06 GMT

EUR/USD
Sell at 1.2550
TP1 = 100 pips
TP2 = 50 pips
SL = 1.2590
TS 50 points

USD/CHF
Buy at 1.1770
TP1= 80 pips
TP2= 50 pips
SL = 1.1730
TS 50 points

The Elliott Wave Principle Part 1 - General

noreply@blogger.com (Unknown) — Wed, 4 Mar 2009 22:14:00 +0800

1. General
The Elliott Wave principle was discovered in the late 1920s by Ralph Nelson Elliott. He discovered that stock markets do not behave in a chaotic manner, but that markets move in repetitive cycles, which reflect the actions and emotions of humans caused by exterior influences or mass psychology. Elliott contended, that the ebb and flow of mass psychology always revealed itself in the same repetitive patterns, which subdivide in so called waves.
In part Elliott based his work on the Dow Theory, which also defines price movement in terms of waves, but Elliott discovered the fractal nature of market action. Thus Elliott was able to analyse markets in greater depth, identifying the specific characteristics of wave patterns and making detailed market predictions based on the patterns he had identified.

Fractals are mathematical structures, which on an ever smaller scale infinitely repeat themselves. The patterns that Elliott discovered are built in the same way. An impulsive wave, which goes with the main trend, always shows five waves in its pattern. On a smaller scale, within each of the impulsive waves of the before mentioned impulse, again five waves will be found. In this smaller pattern, the same pattern repeats itself ad infinitum (these ever smaller patterns are labeled as different wave degrees in the Elliott Wave Principle)
Only much later were fractals recognized by scientists. In the 1980s the scientist Mandelbrot proved the existence of fractals in his book "the Fractal Geometry of Nature". He recognized the fractal structure in numerous objects and life forms, a phenomena Elliott already understood in the 1930s.
In the 70s, the Wave Principle gained popularity through the work of Frost and Prechter. They published a legendary book ( a must for every wave student) on the Elliott Wave (Elliott Wave Principle...key to stock market profits, 1978), wherein they predicted, in the middle of the crisis of the 70s, the great bull market of the 1980s. Not only did they correctly forecast the bull market but Robert R. Prechter also predicted the crash of 1987 in time and pinpointed the high exactly.
Only after years of study, did Elliott learn to detect these recurring patterns in the stock market. Apart from these patterns Elliott also based his market forecasts on Fibonacci numbers. Everything he knew has been published in several books, which laid the foundation for people like Bolton, Frost and Prechter, to make profitable forecasts, not only for stock markets, but for all financial markets.
Next let’s first examine the patterns Elliott identified.

Trade Signal March 02, 2009

noreply@blogger.com (Unknown) — Mon, 2 Mar 2009 19:04:00 +0800

Update at 11:06 GMT

EUR/USD
Sell at 1.2580
TP1 = 100 pips
TP2 = 50 pips
SL = 1.2640
TS 50 points

USD/CHF
Buy at 1.1765
TP1= 80 pips
TP2= 50 pips
SL = 1.1725
TS 50 points

Trade Signal February 20, 2009

noreply@blogger.com (Unknown) — Fri, 20 Feb 2009 18:36:00 +0800

Update at 10:40 GMT

GBP/USD
Buy at 1.4272
TP1 = 100 pips
TP2 = 50 Pips
SL = 1.4252
TS 50 points

EUR/USD
Buy at 1.2620
TP1 = 100 pips
TP2 = 50 pips
SL = 1.2580
TS 50 points

USD/CHF
Sell at 1.1850
TP1= 80 pips
TP2= 50 pips
SL = 1.1890
TS 50 points

noreply@blogger.com (Unknown) — Wed, 18 Feb 2009 16:03:00 +0800

Update at 08:06 GMT

GBP/USD
Sell at 1.4270
TP1 = 100 pips
TP2 = 50 Pips
SL = 1.4320
TS 50 points

EUR/USD
Sell at 1.2605
TP1 = 100 pips
TP2 = 50 pips
SL = 1.2645
TS 50 points

USD/CHF
Buy at 1.1695
TP1= 80 pips
TP2= 50 pips
SL = 1.1655
TS 50 points