Posted in Audio commentary, British pound, Euro, Japanese yen, U.S. dollar, U.S. stocks on April 18, 2008 | 1 Comment »
Friday 04/18/08
Asia – Look at the inverted head n shoulders on FXI
Europe – Great Britain giving out pounds – look for institutional traders to step in
US - James look into the Financial futures crystal ball and tell me what you see?
James how do I trade the financials and the JPY?
$ up and commodities down.why??? – [...]
Posted in Audio commentary, British pound, Canadian dollar, Euro, Japanese yen, U.S. dollar, U.S. stocks on April 15, 2008 | No Comments »
Tuesday 04/15/08
To quote from Andrew Busch, currency strategist for BMO Capital Markets: Happy Tax Day! Most likely, this will be the lowest tax rate you will be paying for the rest of your life…….
AUD rally then retracement overnight on rumors and then spends the rest of the nigh selling off
$CRX.X, GLD, SLV, OIL make the [...]
Posted in Audio commentary, Australian dollar, Commodities, Economics, Euro, Fed, Japanese yen, Price patterns, U.S. dollar on April 14, 2008 | No Comments »
Monday 04/14/08
Currency trading end of last week into this week is like the Abbet and Costello “Who is on first and what’s on second” bit, confusing and violent.
G7 Language was purposefully vague not referencing China’s currency but general currency fluctuations- market tried to anticipate intervention action which caused more violent price action overnight and through [...]
Posted in Carry trade, Commodities, ECB, Economics, Euro, Fed, Gold, Japanese yen, U.S. dollar, tagged ben bernanke, Carry trade, dollar, economy, Euro, Federal Resereve, interest rate, rate cut, usd, yen on March 17, 2008 | 1 Comment »
Well, maybe while you were getting ready for bed. The Federal Reserve Bank decided to make an emergency move this evening and cut the bank lending rate to 3.25 percent from the 3.50 percent it was at earlier. This move made by the Fed was meant to “try” and create some stability in the financial [...]
Posted in British pound, Japanese yen, Price patterns, tagged breakout, gbp/jpy, triangle on February 29, 2008 | No Comments »
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 [...]
Posted in Euro, Japanese yen, Price patterns, tagged yen, Euro, triangle, stochastics, eur/jpy on February 7, 2008 | No Comments »
The pair broke down from a triangle and is heading back up and is now at resistance. Is a retest in the cards? We’ll see. Examples of possible, simple entry signals in line with the trend are in the green ovals where the fast stochastic line crosses below the slow line. Notice how we [...]
Posted in Australian dollar, Euro, Japanese yen, U.S. dollar, tagged aud, aussie, australia, forex on February 4, 2008 | No Comments »
The hunt for a reversal candle came up empty. Rather, the AUD/JPY broke out to the topside. Wow! Technically this is a power move. But I’m leery of it because of my bearish posture toward global economic fundamentals.
The breakout also happens on the EUR/AUD and that looks cool too, but yikes, trading bearish [...]
Posted in British pound, Japanese yen, tagged pound, yen, jpy, gbp, forex, gbp/jpy, bounce, trend, downtrend on February 1, 2008 | No Comments »
Looks like we are getting a bounce lower off a small resistance level on the GBP/JPY, unsurprisingly. All is well with the downtrend.
Posted in Australian dollar, Euro, Japanese yen, U.S. dollar, tagged Fed, forex, interest rates on January 31, 2008 | 2 Comments »
The scoop on the Fed is that they lowered rates 0.50% and said more were to come. Obviously that is bearish for the dollar and can be bullish for carry trades too since it is a balm for economic pain. Were it so simple to “fix” economies. Yesterday afternoon U.S. stocks sunk as bad [...]
Posted in Australian dollar, Candles, Japanese yen, tagged aud, aussie, buy signals, candle patterns, evening star, forex, hammer, harami, jpy, yen on January 30, 2008 | No Comments »
Candle hunting sounds like some sort of freaky hobby, when really we’re talking about looking for candle patterns.
The AUD/JPY has had a couple in recent bearish bounces.
First off, to be clear, the trend is down and that’s the mood we want to be in here (… not down, but bearish) Name of the [...]
Posted in British pound, Canadian dollar, Euro, Japanese yen, tagged forex, stocks, george soros, comparison on January 28, 2008 | 1 Comment »
Well, here’s to a new week! An excellent way to start out is spending a moment on the “big picture.”
Technically the euro remains strong, the pound and loonie weak, and the yen has been gaining strength. The comparison chart on the left illustrates this nicely.
Fundamentally nothing has changed - there is trouble, and trouble [...]
Posted in British pound, Japanese yen, Price patterns, U.S. stocks, tagged pound, yen, jpy, gbp, forex, stocks, gbp/jpy, dow, triple top, s&p 500 on January 17, 2008 | 1 Comment »
After the carnage in stocks today (more later), the GBP/JPY is eyeing the downside again. If you traded the pair on the hourly chart, you were stopped out in the last few days. But oh, what a run! And if you gave back too much in gains, time to devise an exit strategy that [...]
Posted in British pound, Carry trade, Japanese yen, Price patterns, tagged Carry trade, feedback cycle, forex, gbp, gbp/jpy, jpy, pennant, pound, price pattern, stocks, yen on January 14, 2008 | 2 Comments »
Today is the first day I look at the S&P500 ($SPX) - representing the average of US stocks - and think “this may be a pennant”. If I can get a triangle shape out of short term support and resistance, it’s a pennant. And price coiling like this at support is pretty threatening to [...]
FX Pup Lessons
Posted in Audio commentary, British pound, Japanese yen, U.S. dollar, tagged FX Lesson, pound, trading system, yen on April 21, 2008 | 4 Comments »
A lesson on trading with the stochastic indicator on the GBP/JPY by: James ‘Big Dog’ Boyd.
The stochastic is a great tool to monitor the trade to see how much room we have left to go up or down. The stochastic again tells us the bullish or bearish sentiment in the trade. In this example we look [...]
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