Trade Updates

The eur/usd and eur/jpy short setups from last Friday have played out extremely well with over 100 pips on the eur/usd and over 300 on the eur/jpy. Make sure to take some profit as these are countertrend trades.

I would like to thank you for your support this last year and look forward to working with you in the coming year as we focus on getting some huge moves. One of the main keys in becoming a successful trader is learning how to read a chart and to see what's really going on in the market. That is what I hope to pass on to you as we continue working together. I will continue to focus on spotting professional activity and helping you identify high probability trend and countertrend trades with the Value Level Trade Alerts. Have a Safe and Happy New Year!

EUR/JPY

Countertrend Trade Alert: Look to sell the eur/jpy around 166.40-167.00.

EUR/USD Trade Alert

Countertrend Trade Alert: Look to sell the eur/usd between 1.4675-1.4700. Keep holding longs from below and consider taking partial profit.

EUR/USD Update

Good morning! I hope everyone had a wonderful Christmas. The euro has rallied from the buy area last week of 1.4300-1.4350 and is currently at 1.4500. Make sure to manage the trade and eliminate the risk. I will continue looking for places to add on to this position along the way. Be patient and let the trade work.

EUR/JPY Trade Alert

Countertrend trade: Look to sell the eur/jpy between 165.50-166.00.

EUR/JPY 4hr Chart:

Trade Setup

The cable has trickled back down to test the lows. Currently it’s pushing lower at 1.9920. There is a nice reversal pattern setting up on the 4hr chart so keep your eyes out for a place to get long. Watch how price reacts around 1.9900-1.9850. Remember to manage the trade once in profit in case it comes back like it did last night. That will allow you to get back in when the setup presents itself.

The euro still looks like a good buy around 1.4350-1.4300. If these levels change as we get close to news time tonight I’ll update them.

Trade Setup

Look to buy the gbp/usd between 2.0090-2.0050. The Value Levels on the eur/usd from yesterday are still valid, 1.4350-1.4300.

EUR/USD

There were some nice bounces on the euro on Friday from 1.4480 up to 1.4529 before it moved lower. The key is to manage the trade if in profit. If you get stopped out you’ll get another chance to get long at a better price. The key is to be nimble in the beginning stages and step up to the plate every time there is a setup. Losing traders will not take the next trade after a couple losses. That is exactly when you must to take a stand. When the uptrend resumes, you will want to be positioned because this is where you can make all of your money.

Look to get long the eur/usd between 1.4350-1.4300. This is a trend trade. The goal is to build up a position and let the trade work. That is how you can generate some nice gains. There are bigger moves in the works and that's why I'm getting positioned on the long side.

EUR/USD Trade Alert

Look to buy the eur/usd between 1.4500-1.4450.

EUR/USD 4hr Chart:

EUR/USD Trade Alert

Look to get long the euro/usd between 1.4600-1.4550.

EUR/JPY Trade Alert

Look to sell the eur/jpy between 165.00 and 165.50 or better.

EUR/JPY Trade Update

Once again the Value Level Trade Alerts have been pulling in the big moves. The eur/jpy just pulled in over 300 pips on the setup from yesterday. That is worth $300 per mini contract and $3,000 per standard contract. The returns would double or triple if one traded multiple contracts. Even if you just got half of that, how good would that be? I hope you’ve been able get in on some of these setups.

If you would like to receive the Trade Alerts in real-time and training, please let me know. You will learn some key concepts that will help you to better position yourself at these levels.

EUR/JPY 4hr Chart:

EUR/JPY

The euro/jpy retraced slightly from the initial sell zone of 163.50-164.00 from Friday down to 163.18 on Sunday. Price has pushed higher into the NY open. Look to sell between 164.50-165.00. This pair should be getting closer to a nice correction.

EUR/JPY 4hr Chart:

EUR/JPY

Look to sell the eur/jpy between 163.50-164.00.

EUR/JPY 4hr Chart:

GBP/USD Update

The cable made it’s way back up slightly above 2.0300 and is now making another run at the lows to get more people short and to run stops. You have to learn to expect this to happen because that’s how this game is played. If you take a loss, don’t give up. All it means is that the market wasn’t ready yet. Another clue that this would happen was how little of a bounce we got. When that happens you can almost always expect the market to drop further before rebounding. The buy setup is getting even better now on the gbp/usd.

EUR/USD

Look to buy the eur/usd between 1.4550-1.4500. If price doesn’t get to these levels, find a way to enter the trade. Cover any euro shorts from the 1.4760 area.

EUR/USD 4hr Chart:

Trade Update

The cable is dipping below the 2.0300 handle. Don't let this scare you out of the trade. Especially, if you ran a tight stop. FYI, tight stops are easy targets for the professional trader. Check your emotions and stay focused on this setup.

The eur/jpy add on in the 162.20-162.00 area are also working nicely. Manage the trade.

GBP/USD

Look to buy the cable around 2.0350-2.0300.

GBP/USD 4hr Chart:

Trade Update

The euro has finally showed some life and went in our direction last night. Not as much as the cable but it’s still a profitable trade. Consider taking some profit on this trade or at least adjusting stop.

The euro/jpy is still working and would look for a place to add on to it around 162.20-162.00. If it can break above 163.00, it could head for the next resistance areas of 165.00-166.00.

EUR/USD

Look to sell the eur/usd between 1.4760-1.4800.

Move stops up on the eur/jpy.

EUR/JPY

Look to buy the eur/jpy between 161.00-160.50.

EUR/JPY 4Hr Chart:

EUR/USD Signal (Nov 28)

Look to get long the eur/usd between 1.4730-1.4700.

EUR/USD 4hr Chart:

Euro and Cable update

The euro is back at resistance, 1.4840. Because of what is setting up longer-term I would look to short again between 1.4850-1.4900 or better. We’ll probably get a few more chances at the trade so be ready to take action when it trades in this zone.

Roll stops up on the cable long from the 2.0550 area. Have a great Thanksgiving!

GBP/USD

Look to buy the cable around 2.0580-2.0550. Hold the longs from below.

EUR/USD 11-19-07

Look to the sell on the euro between 1.4730 and 1.4750 and then again at 1.4800.

GBP/USD

Good morning! If you shorted the euro near 1.4700, you're a happy camper now. While that trade is working my attention is drawn to the cable. I'll be looking to get long near 2.0450 and 2.0400. Yesterday and last night there were some nice bounces off 2.0500.

EUR/USD Short Setup

Start looking for a place to short the eur/usd around the 1.4700 handle and then again at 1.4750. If price goes that high, consider lightening up on the longs from below.

EUR/Sell Setup

Start looking to sell the euro between 1.4750-1.4800. The longs from below are still working nicely. If this changes, I'll send an update.

EUR/USD Sell Setup

The short setup from Friday played out for about 50-70 pips depending on how the trade was managed. Since then price has rallied higher. This is exactly why I’ve been saying to hold onto the longs while we take some countertrend trades. Talk about little extra icing on the cake! I am looking to short the euro between 1.4660-1.4700.

EUR/USD Short Setup

The euro has finally made its way back up to test resistance. Look to short between 1.4520-1.4550.

The euro made its way back to 1.4430 where it died down. The market appears to be waiting for the flurry of data coming out during the London and US session on Wednesday. I prefer waiting for the market to show a little more life before entering. Keep holding the longs from below in case we get a break higher.

Not much has happened today in the way of new setup. Overnight the euro popped up briefly to 1.4437, just shy of 1.4450 that I mentioned on Friday before trickling back down to 1.4376 where it found support. I would still hold the longs from below since volatility increases at new highs/lows. At the same time, I’m looking for a new short entry during the next trading sessions when trading activity increases. My initial target Value Levels to short are: 1.4450-1.4500. I’ll revise the numbers if this changes during the next trading sessions.

Euro Sell Setup Continued...

The euro has been stagnant into the close as traders take off for the weekend. The cable had a similar setup as the euro and fell off about 100 pips. I am still expecting a correction on the euro so keep looking to sell into this rally. Especially, if it shoots up to 1.4450. Don’t get suckered into that move and get caught buying a top. Wait for a correction to get positioned. Have a great weekend!

Euro Sell Setup

The euro rally has continued nicely. I would keep looking to buy dips for the time being, possibly around 1.4250. I'll confirm that Value Level when price is near it. In the meantime, if you want a countertrend trade, look to sell the euro between 1.4370-1.4400.

USD/CAD Buy Setup Continued...

It’s been a few weeks since my last post on the USD/CAD. Not much has changed in regards to the buy setup. My target for buying at the beginning of October ’07 was between .9800-.9700. It’s been range bound with lots of chances to get long within this range and make some money. The first entry just was just below the .9800 handle at .9780. Price rallied up to .9893 before making a move lower to the .9700 handle where it bounced around in a 50-100 channel before breaking lower to .9631. I am long again at this area as price is hitting key support areas which also coincide with monthly, weekly and daily value levels. Once hit, these areas usually produce some nice moves in the intended direction, to the upside in this case. To make it as a successful trader you have to be willing to step up to the plate when everyone else is doing the exact opposite. I can’t tell you how many people think I’m crazy for taking this position. That’s how I know that the odds of me being on the right side of the market are in my favor.

Euro

The long on the euro from 1.4130 is working out very well. Make sure to manage your trade and consider leaving something on the table for a possible retest of the 1.4350 area or better.

Get Long The Euro

The short on the eur/usd from 1.4300-1.4350 has played out nicely. Start looking to get long around 1.4130-1.4100 and then again around 1.4050.

Euro Trade Setup

New Value Levels for the euro. Look to short around 1.4300-1.4350. These are Daily and Weekly Value Levels. Remember to manage your euro longs.

The euro is trying to break out of a month long resistance area. If the year's high of 1.4281 breaks, I would look for a target of 1.4400. Get long on a pullback and let 'er work. When the conditions are right, this will be some of the easiest trading you’ll ever do. If you bought between the 1.4040-1.4000 support area make sure to raise your stops and lock in some nice profit. If resistance breaks, I will start looking for a place to short. I’ll talk more about that as the setup unfolds.

EUR/USD Sell Setup

The previous sell setup around the 1.4200-1.4250 worked out well for about 50-80 pips depending on the entry. There were a few opportunities at shorting in that area. Since Friday, price has been consolidating at support, 1.4150, which was a great place to add to your longs. That won’t be the focus of this post since I didn’t get a message sent out about that setup. I am now looking to short between the 1.4250-1.4300 area. Adjust stops on any longs you’re holding and let them work. The funny thing about trends is that they are persistent and take awhile to turn around. Nevertheless, there are many great counter-trend opportunities if you know what to look for. Just don’t hold on to them as long as you would a trend trade.

EUR/USD Sell Setup

The previous sell at the 1.4170 area worked out nicely. Support entered the market around 1.4125 where it consolidated most of the day and then rallied higher during the London session. I am now looking to short once again around the 1.4200-1.4250 Value Levels.

EUR/USD Sell Setup

The eur/usd came down into the buy zone and made a low of 1.4014 this week before rebounding up to 1.4169. Hopefully, you were able to spot this setup from my previous post on Friday. I would start looking to sell around 1.4170-1.4200.

USD/CAD

I'm starting to like the long side of the usd/cad. This pair is making new 30 year lows. I will start accumulating a long term position on dips around 0.9800-0.9700. Don't get sucked in and short if this pair starts to push lower... unless you're in a charitable mood and want to give your money away. If you are, let me know and I'll send you my bank wire instructions. = )

NFP

Today was a great day for trading the breakout and buying it back off support at the bottom of newly forming 4hr trend channel. If it breaks up above 1.4150 I would start looking for a place to get short on a retest of the the highs or at one of the fibo retracement levels on the attached chart. If I were to get long I would prefer waiting for price to return back to the 1.4050 area as most breakouts are false breakouts. At least on the first attempts. Look for a pullback to buy into if you see a place to get long. From a long term trading perspective, I'm still bearish and will look to short rallies. Expect a lot of volatility and two way trading opportunities until we get a break lower. Remember that it's Friday so don't over extend yourself. Trade light so you can relax over the weekend. There will always be another trade. Just have a little patience.

EUR/USD

The currency pair that is the most attractive to me at the moment is the eur/usd. It has made multi-year highs this week at 1.4281 and has since fallen back down to 1.4066. I am taking a bearish stance and will be looking to sell rallies. Since NFP is this Friday, I will stand aside and wait for a setup. I would love to see the euro rally and hit a Value Level that I can start selling into. I will talk more later about Value Levels and how they can be used to position yourself in a low risk trade that doesn't require a lot of chart monitoring. After all, who wants to be glued to the charts waiting for a setup? Trade setups can take time before they are ready. Staring at the charts won’t speed things up. There are better things to do while the setup is forming. Go play some golf or spend some time with your family. Happy Trading!