I am wondering are we heading to a negative week for Euro? At least my trading idea box is calling a short now. We have Euro-Zone Industrial Production, CPI, Trade Balance figures etc coming. Generally, it looks bearish. Let’s see how it goes.
Let’s have a look at the chart. (click to view full chart)
Here is the statistics
Big day in Australia. 100 basis points cut brought us to 4.25% now. But at the same time RBA hinted that’s the end of easing (uhm…do you…trust..R..B..A…eh?) . Anyway, I guess, it managed to killed some shorts. 😆
I did two trades today. Shorted the AUDJPY in the begining of Asian session, bagged some profits. Shorted EURUSD again at the open of London session, again, bagged some profit. London session doesn’t continue the sell off of Euro.
I was working at home today. I let CNBC/Bloomberg play the whole day on my TV. Panic and fear. And they just kept repeating “U.S is confirmed in recession since last December”. WTH? who cares about this confirmation?
Anyway, that’s all for today.
In order to salvage my getting lower blog readerships (in fact, it is consistently low readership 😆 ) , I am going to post two trades that I have made today , 01-Dec-2008, London session. it is show off time again! 🙂
Scalping? Yeah, I do scalp. But, I have a box of trading styles, so don’t waste your time guessing. 😆
I told you I have a negative view of Dollar. This is particular true when watching USDJPY. I watched the opening hour of London session, let the price flowed, and wait for the currency pair to form my favorite setup. BANG! Shot the Dollar, Oops, I mean short. Aggressive price movement, with aggressive trailing stop.
Here is the …. CHART! small +40 pips.
OK, now EURUSD. I told you ..blah blah blah…but, Euro looked weak.. So, I shorted EURUSD. Dollar was weak. So the trade closed with small profit. Thanks to the partial profit taking orders.
Here is the… CHART!
That’s all. Two trades for the day. I am off for shower and dinner. Ciao!
I made 2 day trades yesterday. Long EURUSD, Short USDCHF. Simple setup. But, instead of waiting for the planned target, I chickened out on exit. Well…
Beautiful charts.
[photopress:_USDCHF3_9_2008_1.jpg,full,1]
[photopress:EURUSD.jpg,full,1]
Side note. If you are not reading this post on tradergav.com, please leave immediately. My posts are stolen by some sissy birds recently. They created a new website and published my work without my knowledge.
Daily chart of EURO is a beauty. Consolidation, breakout, consolidation, breakout. I love this chart. Well, we are again in the consolidation phase, and at the new high area. I remain positive now, which means I am only looking at the Long side at the moment. It depends on what do you want from the market. Accumulate long position to anticipate the upside breakout? or hold your breath now and wait for the breakout.
Here is the….CHART!
[photopress:euro_daily.gif,full,1]
Here is the statistics
[photopress:EURUSD_trend.jpg,full,1]
And here is the FXE (CurrencyShares Euro)
[photopress:FXE.jpg,full,1]
Chart used Tradecision
