Pivot Trading

very glad to wake to the closed markets this morning and finding all my AU positions in the green
thankyou Davit

pity I closed one of them before going to bed

"Just like a rabbit, you're always on the run
But wait till I get my trap on you
I'll see where you gonna run to
Wait till I get my trap on you
Then I'll see where you gonna run to.....", Bob Marley and The Wailers

abs 15% @ max DD 2.6% ..... 6months done ...... stay frosty my friends

XRPUSD Yearly Davit Pivots

Good job brother keep it up.


This might weaken CAD even more next week.
Canada is willing to walk away from NAFTA, Trudeau says

There is lot of space to go north UC.Crude starting to deflate and this will have an impact on the CAD

AUDNZD, watchlist for next week

Green pips..

nice one, might consider that

Go Patriots!

Will the Dollar Recovery Last?

Daily FX Market Roundup 02.02.18

By Kathy Lien, Managing Director of FX Strategy for BK Asset Management

For the first time since late December, we've finally had a week where the U.S. dollar did not decline. The Dollar Index ended the last week of January marginally higher after losing as much as 6% of its value over a 7-week period. All of the major currencies were hit by profit taking with the Australian dollar and Japanese yen experiencing the steepest losses. Euro, sterling and the New Zealand dollars held up the best but their rallies came to a halt as the dollar recovered. Looking ahead, the market's appetite for U.S. dollars could take a back seat to global growth and central bank meetings. None of the major central banks are expected to change policy but with currencies rising strongly over the past 2 months, everyone will be watching for FX comments. The biggest event will be the Bank of England's Quarterly Inflation Report but the Reserve Bank of Australia and New Zealand's rate decisions could also have a significant impact on the Australian and New Zealand dollars. These big events just skirt the surface of all the important releases on next week's calendar.

It is still too soon though to declare victory by dollar bulls who are just beginning to wrest control from the bears. For some pairs that turned later like GBP/USD, USD/CAD and NZD/USD, we could see a more significant reversal at the start of the new week but there could be slower gains in USD/JPY, EUR/USD and AUD/USD. A hawkish FOMC, strong non-farm payrolls and a sharp rise in 10 year Treasury yields fueled the dollar's recovery. Janet Yellen's tenure at the Fed is over and she left the market with an optimistic FOMC statement with a more hawkish view for inflation. Their positive outlook was reinforced by Friday's non-farm payrolls report which showed job growth rising to 200K in January, the unemployment rate steady and wages growing by 0.3%. This was accompanied by an upward revision in December payrolls and wage growth. There's no question that the labor market is strong and at this pace, the unemployment rate could fall further in the coming months. However with the market already pricing in 100% chance of a March hike, Friday's release did not change those views. The most important U.S. economic report on next week's calendar is ISM non-manufacturing and with non-farm payrolls released, it should only have a limited impact on the dollar but given the strength of NFPs, service sector activity should be stronger.

Instead how central banks feel about the recent gains in their currencies will be the main focus. The week kicks off with the Reserve Bank of Australia and New Zealand's rate decisions followed by the Bank of England meeting and Quarterly Inflation Report. Other key releases are sprinkled in between. Starting with Australia, the economy has actually been performing pretty well since the last monetary policy meeting. Thanks to a healthy labor market and further job growth, retail sales and consumer confidence are up. Business are also more confident despite a slowdown in service and construction sector activity. The manufacturing sector seems to be chugging along as the Chinese economy performs better than expected. Inflation also increased strongly year over year despite a softer quarterly rise. These reports suggest that the RBA will have no immediate desire to raise interest rates but they could overlook the 4.5% rise in AUD/USD since their last meeting. When they last met, they expressed concerns about the currency's strength posing a drag on growth and inflation so this week investors will be looking to see if stronger language is used and if so AUD/USD could extend its decline to .7750. Before RBA, Australia's PMI services, trade balance and retail sales reports will be released which will help to shape the market's expectations for the policy meeting. Afterwards on Thursday evening, we have the Quarterly Statement on Monetary Policy. AUD/USD is vulnerable to additional profit taking unless the RBA statement or data is overwhelmingly positive.

As for the New Zealand dollar, it has been nearly 3 months since the Reserve Bank of New Zealand last met and since then, the New Zealand dollar appreciated 5.5% versus the greenback and 2% versus the Australian dollar. Data has been softer with retail sales growth slowing materially, manufacturing activity easing, business confidence falling and inflation slowing. There are some bright spots in housing and trade with the trade balance unexpectedly turning to surplus in December on the back of strong exports. At the last RBNZ meeting, NZD/USD traded higher after the central bank moved forward their forecast for the next rate hike to the second quarter of 2019 from the third. While the data suggests that the RBNZ should be slightly less optimistic and more critical of the currency's strength, the RBNZ will usher in a new central bank governor in March (Adrian Orr) as right now, Grant Spencer is only acting governor so he may not want to rock the boat. Regardless, the RBNZ meeting will be an important event to watch. Q4 employment numbers will be released the day before and could help shape expectations for the rate decision. Friday's sell-off marked the strongest one-day sell-off in NZD/USD since October and the decline is likely to continue in the coming week.

While there's no monetary policy announcement on Canada's calendar, the Canadian dollar will also be on the move with the trade balance, IVEY PMI and labor market report scheduled for release. Recent data has been mostly softer but there could be a recovery in trade and IVEY PMI after the past month's weaker readings. Job growth on the other hand has been very strong and it may finally be time for a correction. Like the New Zealand dollar, the Canadian dollar experienced its strongest one day decline in nearly two months and a move as sharp as this one typically has continuation. We see USD/CAD rebounding to 1.2500 and possibly even 1.26 in the coming week if Canadian data surprises to the downside.

The biggest event though should be the Bank of England's announcement. Aside from a regular rate decision, their Quarterly Inflation Report is also scheduled for release. The BoE raised interest rates towards the end of last year and investors are keen to know when they will do so again. There was no mention about timing at their last meeting, but the Monetary Policy Committee likes to provide more guidance when the Quarterly Inflation Report is released. Since December, there hasn't been any major improvement or deterioration in the UK economy. Retail sales fell sharply but inflation ticked up slightly, labor market conditions held steady and wages grew at a healthy pace. Manufacturing and construction sector activity slowed but economists are looking for service sector activity to accelerate (the report is due on Monday). Most importantly, GBP is up 5% against the dollar and 10 year Gilt yields are up 25bp since their last meeting, which represents a tightening of financial market conditions. The tone of the Quarterly report should be optimistic but there will be reservations given the change in market dynamics. The BoE may not want to risk driving GBP/USD significantly higher. If they are unambiguously positive, talking about additional hikes in the coming months, GBP/USD could hit 1.43 but if the tone of the report or Carney's speech is cautious, GBP/USD could fall below 1.40.

Last but certainly not least, the euro is still one of the best performing currencies. Compared to other G7 currencies, its pullback on Friday was modest and even with that decline EUR/USD is flat for the week. Meanwhile it is up strongly versus the Australian dollar, Japanese Yen and Canadian dollar. EUR/JPY and EUR/CAD rose to their highest level in 2 years. The economy is recovering and the effect of a strong euro on inflation has been limited. As a result, Eurozone policymakers have become more tolerant of the rising currency and more eager to end asset purchases. There's very little Eurozone data in the coming week to threaten the currency's positive outlook and for that reason we expect euro to continue to outperform other major currencies (barring any surprises from central banks). EUR/USD on the other hand is due for a pullback - if the pair closes below 1.24, we could see a steeper decline towards 1.2275 but the sell-off will invite bargain hunters. The Swiss Franc also rose to its strongest level in 2.5 years versus the dollar despite threats of Swiss National Bank intervention. The move was driven by the combination of dollar weakness and stronger Swiss retail sales / manufacturing data. Although it is tempting to pick a bottom in USD/CHF, the pair needs to rise above 94 cents for bulls to get excited.

I just closed my AU and UJ positions for a nice bump to the balance
watching AN AC and this one

holding EU

Closed EJ +327 nice way to start the week
I posted the chart about this.

TD Patriots 3 point game
Lets go Pats lets make history!

obvious system trade

Congrats Eagle Fans.This was very tough and one of the best SB I ever seen

you have no reason to sell EG now.Read 1st page please and install anglator, TDI.
If you think you can trade without my indicators then you should not be posting here.The whole point of my indicators are there for a reason and all play a role and part of my system.
This is important.Consider a warning.

Make no mistake about it !!!!!
PM Justin Trudeau CAN walk away from NAFTA TALKS .
However , it will simply be an admission , for those of us Canadians that actually PAY ATTENTION to this , that Canada has already been defeated and rendered POWERLESS IN NAFTA , BEFORE , any NAFTA TALKS ever began. WILBUR ROSS made certain of that. PRESIDENT TRUMP , (love him or hate him) , KNEW that WILBUR ROSS was THE PERSON to deal with NAFTA. The USA is our largest trading partner in the WORLD !! CANADA ABSOLUTELY needs the produce during the frigid winter months grown in California. Yes , we can get a few things elsewhere but Canadian consumers are sick and tired of poisonous imports from various other nations who will spray their crops with toxins. The USA needs many of our goods in return , particularly our superior wood products which are far stronger than what almost any nation on this EARTH can produce. The US INSURANCE COMPANIES actually demanded major changes to US BUILDING CODES along the EASTERN SEABOARD due to poor quality , US grown lumber which was far too brittle to withstand the effects of windstorms and hurricanes. A massive amount of Canadian Lumber goes to this area due to its ability to withstand these conditions quite easily.

In one of my earlier posts I had predicted that this would be the case. Trudeau is a buffoon. I had also predicted that TRUMP would intentionally manipulate the USD/CAD in favor of the USA. After all , TRUMP did say that he would make AMERICA GREAT AGAIN !!!

The USD/CAD will neither go too high but , could go much lower in order to favor the US EXPORTS. Can you blame TRUMP or WILBUR ROSS ? After all , this is economic warfare !! Hell , I would do it !! CAN YOU SAY , NO BRAINER !!!
Here in CANADA , household debt is at RECORD HIGHS. THERE WILL BE NO RATE INCREASES FROM THE BOC IN 2018 unless Trudeau intentionally wants to put Canada into a DEEP , DEEP RECESSION. We are a massive geographical land mass with far too few people . Immigrants are keeping this Country afloat , and Trudeau and his cronies know it.

THE USA is in complete control of NAFTA and CANADA and MEXICO know it. Love him or hate him , THANK GOD FOR TRUMP !!! The time is far overdue for Americans to get off of their damn asses , and start to firmly support their President. AMERICANS can start with boycotting CNN and its "geniuses" , particularly WOLF SHITHEAD !!
TRUMP IS ALL ABOUT HIS COUNTRY , LIKE A COUNTRY'S LEADER SHOULD BE !!!!!
TELL TRUDEAU , PUBLICLY , GO AHEAD AND TAKE A LONG WALK OFF OF A SHORT PIER !!!!!
Regards,
GE

Took the beating last week on EA and AC, lost 3%.
Trying better this week. Starting with GU.

Closed GA 210+ pips. Will Sell after pull back

Closed another batch on EJ +531 after closing last price jumped up and I simply sold the bounce
In fact this is larger and more profitable.
EJ last 30hrs +858

EG R61 and showing signs of going south
These system trades should be automatic and are high probability set ups so I expect you guys to see these.
Our lovely calendar indicator on my template is saying in 1hr 36min Draghi is speaking