PearsonFX Trades

I am LONG on USD/JPY, EUR/JPY and GBP/JPY...

Charts in a brief second

Here are some fibonacci patterns....on Eur/Jpy and Usd/Jpy its also visible on Gbp/Jpy but I can only post two charts...I think...

Anyways....Stoch's are also oversold....should be a nice 100 pip ride on all three

Zack

Hey Tom.....sorry about last night yes I slept, couldn't keep my eyes open any longer....

I posted some pictures in the previous post they show some Gartley patterns...which are similar to butterflies, Bats, and Crabs....all have to do with a fibonacci pattern

cheers,

Zack

hi zack, u ok today
Tom

Hi Tom,

Yes I am doing good today....still tired and will probably call it an early night. but should be here for another hour, maybe two.
Posted my trades that I am in a while ago, all in profit now, looking for more though

Zack

wot is your thinking on these 2 pairs
Tom

Well....I have mixed feelings....

On GBP/USD I have sell signals since 2.0350, BUT a confirmation close below 2.0275 would invoke a nice pullback to possibly 2.0091. I am biased on the short side, especially since forming a weak double top and a bearish fib pattern on the 1 hour chart. I would recommend shorting this pair.

On EUR/USD, I want to say short as well....I have a 15 minute bearish pattern, but nothing on the higher TFs. Euro, has been extremely bullish lately especially with oil trading over $110.00 a barrel today. On elliot waves, the push to 1.5650 should have marked the 5th of 5 waves pushing to a top, and a drop following. that drop may have happened already for all I know. Pivot is at 1.5595...a solid close below that would confirm a bearish setting for the time being. Currently I am flat on the euro until it breaks Pivot

I had a bad day yesterday on gb/us lost 53 pips not sure of direction also, I got in at wrong place at the double top also,
Tom

Very slow today bit of ranging maybe, deciding what to do next
Tom

Yes, I have a feeling that its going to move a lot before news happens CPI will be critical for dollar...

I am calling it a night until news, will be back in 2-3 hours

Zack

PS Euro and Pound both fell...but how far will it go?

c u later zack

Hey Zack,

for the "km.tpl" what timeframes do you use when looking for the 5 ma and 21 ma to cross over twice before hitting the 200 ma?

Any Timeframe, but make sure that the move towards the 100MA or the 200 MA will be worth your while. obviously on the five minute chart if its 20 pips away and you have a 9 pip spread....thats bad trading. But if you do it on the 1 hour or 4 hour chart, and the 100 or 200 MA is 200-300 pips away this is a good risk/reward trade, but always be wary of other resistances in the way

Hi Zack how you my friend
Tom

Good just dropping by, checking on a few things....clearing my head getting ready for a good week, and will be prepared for the surprises

Hi Zack,

Whats your outlook on GBP/JPY and GBP/CHF? Do you think the pairs are going back up to where it closed on Friday as you mentioned earlier, 90% of the times pairs come back to the orginal price of where it closed on Friday. Just wondering, seems like it would be a good trade.

forexnoob101

Hello, All the pairs already "closed the gap"...you saw them do this right before the FED announced a 25 basis point cut on the Discount Rate. Immediately following that the prices on most currencies plummeted. GBP/JPY reaching 195.00. Like I said 90% of the time the pairs come back to the closing price of the week before.

IF on your broker's platform GBP/JPY never made it up fully to the closing price....than you can consider this one of those 10% times....its not very often that the FED or any major bank depreciates as much as the dollar has done. Also due to Bears Stern collapse this was a big cause of the drop on Friday. When the FED announced 25 BP cut, this is when the markets went haywire.

As for reaching a new low of 192.42...GBP/JPY will eventually rise above 200.00, however it may not come until GBP/JPY reaches 186-189 (maybe). There will be a lot of movement in the meantime.

Hello all welcome

I hope some of you caught some of that exciting movement this evening....and I hope none of you got hurt on that

Anyways here are my recommendations for some trades. Of course these are trades that may have some drawdown associated with them, i am just giving you all an overall outlook of where currencies are headed.

The YEN pairs should be traded with caution, there are not a lot of supports (next to none, from 100-90) for U/J....BE CAREFUL WITH THE LONGS

I am Short on Eur/Aud. Every 50 pips for me, I am fond of this pair. Targets will be 1.6600 or less, longer term. but you should easily get 100 pips in a day if you want to take advantage of a quick trade.

Aud/Usd, you are going to see UP movement, the bottom for Aud/Usd can be as low as .9150-.9100 but longterm targets will be above parity 1.0000. This like Eur/Aud, will be good for an easy 100 pips in a day.

Eur/Usd SHOULD fall to 1.5650-1.5700 before rising to a new high above 1.5900 most likely (1.5950). Strong caution should be used to take shorts if you are looking for the 200 pip move down to the range mentioned above.

I am Short on Eur/Gbp with a target of .7768. This should be an easy target to reach but once again trade with caution

A low risk trade in my opinion for may of you, would be to trade cable or gbp/usd with a target of 2.0450. Again a safe quick target would be 100 pips.

Lots of good trades coming up, any questions let me know and I will go more in depth, and post a chart if necessary.

happy pips to y'all

Zack

Hope you all made some pips on the earlier recommendations.

I am Short on USD/CHF. again 100 pips should be an easy target.

Also Short on GBP/JPY, but as I said earlier, use caution with this pair

Zack

Good Morning everyone!

Ready for another exciting day of trading? lol here's what I see

I am Short on Eur/Gbp at .7875, be cautioned it is in an ascending triangle in an uptrend which it could break to the upside. .7900 would be a wise stop loss for those that use them

Eur/Usd I am flat on...it seems to be debating which way it wants to go.

I am long on GBP/USD - get ready for a rise up to 2.0200.

Yen Pairs I am biased to the downside, short them now if you want but be cautioned with them due to the news that will be released later today

I am short on Eur/Aud still as well as long on Aud/Usd

hope you all have a good day

Any questions let me know, or if you want me to post a chart or something

Zack