The pair finally broke from its triangle – down, as I long expected. Freaking heck that took long enough. Usually went it goes sideways for a good while it breaks out and acts like a teenager with long pent-up energy – it goes bananas. I circled previous times like this in the last several [...]
Archive for February, 2008
GBP/JPY got plenty of game!
Posted in British pound, Japanese yen, Price patterns, tagged breakout, gbp/jpy, triangle on February 29, 2008 | Leave a Comment »
Join us at the Bellagio in Vegas!
Posted in Uncategorized, tagged bellagio, investools, Investools Investor Conference on February 29, 2008 | Leave a Comment »
You will never see anything else like this, for investors, I promise: this year’s Investools Investor Conference. In the Bellagio, mmm. I love that place. Last time we stayed there I stole the pillows because they were heavenly. Sadly, I got charged (expected) and yet they are now getting frumpy and gross. *sigh.
Anyway, this [...]
Mini-lesson: learn to use the Ikimoku Kinko Hyo
Posted in Mini-lesson tutorials, tagged ikimoku, mini-lesson on February 28, 2008 | 10 Comments »
Time for another mini-lesson! A couple weeks ago we added some new studies to the ProphetCharts, among them the Ikimoku study. I’m in heaven – I’ve used it for quite a while and love it! Today’s we’ll look at this study, learn it, and use EUR/GBP as an example (since the euro is on fire, [...]
Tune in to Tuesday’s audio commentary
Posted in Audio commentary, tagged Audio commentary on February 27, 2008 | Leave a Comment »
CAD WOW !
Commodities are where it is at
We got the better than expected GERMAN #’s
GBP holding well
$VIX is down while the yen and CHF are down
I PREDICT that if you’re unhappy with your Currency Trading and you say, “it’s not my fault” or you blame it on the market, [...]
GBP/CHF trying to break out, but watch out
Posted in Uncategorized on February 27, 2008 | Leave a Comment »
If you watch this pair, you may notice it’s gunning for getting below support this morning. It’s still in the area (currently at a low from mid-January), so it hasn’t breached it yet. Is it a good buy to enter a short position if it does?
This is where looking at the big picture [...]
$1 billion house being built – no joke
Posted in Funny, tagged billion dollar house, Funny on February 21, 2008 | 10 Comments »
Here you go, something you can spend pip proceeds on: a $1 billion house, anyone?
From the good ol’ Huffington Post: What would you do if your net worth were $22 billion? If you were Indian businessman Mukesh Ambani, you might build yourself the world’s most expensive home.
As designed by Chicago architecture firm Perkins + [...]
Price Patterns being updated
Posted in Price patterns, tagged Price patterns on February 20, 2008 | Leave a Comment »
I am updating the price pattern section, finally. I’ve started with Triangles. If you don’t know much about these, enjoy!
Head and shoulders on commodities?
Posted in Commodities, Price patterns, tagged Commodities, head and shoulders, price pattern, shampoo on February 20, 2008 | 1 Comment »
Heads up (haha) - commodities ($CRX) could be forming a head and shoulders, which is a major reversal pattern – by the way, I plan on updating the Price Pattern section very soon, so more discussion on Heads and Shoulders there stay tuned. See how I am looking at it in the chart. I [...]
Bollinger Band experiment under way!
Posted in British pound, Euro, tagged bollinger bands, eur/gbp on February 20, 2008 | Leave a Comment »
Remember we were talking about the EUR/GBP last week, and the stair-step pattern that is especially evident with the Bollinger Bands? Well the pair closed above the upper band yesterday. So let’s say we got in and let the experiment begin.
This really isn’t a “paper” trade – we don’t have many clearly defined rules, [...]
Tune in to Thursday’s audio commentary
Posted in Audio commentary, tagged Audio commentary, bull on February 14, 2008 | 1 Comment »
USD/JPY, GBP/JPY,RISK TOLERANCE…
COMMODITY CURRENCIES, USD/CAD-OPEC, PRICE ACTION, BREAK 99.5
SENTIMENT-BEARISH, #’S SHOWING NEUTRAL TO SLIGHTLY BULL. TORO !
UNCLE SAM-COVERING RISK-ENABLES RISK JUNKIES
I PREDICT that if you can tell me all the reasons why achieving your trading and investment goals are important to you, you will be motivated from within to [...]
3 green EUR/USD buy signal? … Sort of
Posted in Euro, Price patterns, U.S. dollar, tagged eur/usd on February 14, 2008 | Leave a Comment »
EUR/USD continues its bounce, and today the Stochastics crooked up – and out of oversold – on the 3 green arrow (Workshop) study set. If the pair was just above its moving average that would be perfect. But that’s the problem. The pair, technically, is not uptrending. It’s in a bit of a funk, [...]
The euro got its bounce
Posted in Euro, U.S. dollar, tagged bounce, dollar, eur, Euro, usd on February 13, 2008 | Leave a Comment »
By the way the euro did get it bounce versus the buck. That means it’s time to buy the EUR/USD if all three of these conditions are met:
1. You consider the pair to be uptrending according to however you’ve decided to define the trend. That could be higher highs/lows, price is above a [...]
If a channel breaks out, it goes where?
Posted in Australian dollar, Euro, tagged aussie, channel, Euro, resistance, support on February 13, 2008 | Leave a Comment »
Despite my reservations about going short the euro, the EUR/AUD breakout we looked at had legs. A few hundred pips worth of legs. It’s a good reminder of a technical analysis principle some of you may not know. When price is in a channel (support and resistance running parallel) and breaks out – either [...]
Tune in to Tuesday’s audio commentary
Posted in Audio commentary, tagged Audio commentary, currency blog, forex blog, fx blog on February 13, 2008 | Leave a Comment »
The Buffett plunge protection team comes to save the day, the old Underdog theme song comes to mind. Negates Bulish USD forecast.
Risk is in! Which means go USA equities and sell JPY – especially with talk of reducing interest rate in JPY and subprime exposure (Toshiro Muto)
Short term, less negative, [...]
Tune in to Wednesday’s audio commentary
Posted in Audio commentary, tagged Audio commentary on February 27, 2008 | Leave a Comment »
Like we said in the commentary in the beginning of the month, EUR/USD at the pullback from the highs and the bounce either it is now conceding to the USD or it is on it’s way to the mother of all ascending triangle breakouts. We got the breakout!
USD/CHF confirming the play [...]
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