PearsonFX Trades

Hey everyone,

Here is a chart of the Eur/Usd and my more precise projections for the price....

Included in this chart, I have a window open to show you how you can include the price at a certain fibonacci level

In the Description area I have the text "100.00@%$" this produces the result of [email protected]

To eliminate the fib number, if you just want the price you would make the text simply "%$"

Hope this helps and you can experiment with it a little. I find it is useful

As for the Euro on this next downfall I have three targets...

1.5687
1.5625
1.5524

I would also like to point out that looking at the CCI indicator we are forming a nice solid trendline...once this is broken and confirmed this is most likely when we will see our drop. In addition Euro is in a rising wedge pattern which is typically a bearish continuation pattern. Hope this helps!

Enjoy!

Zack

I am Short on the Euro AGAIN from 1.5818

I am LONG on Usd/Jpy at 101.83

I am LONG on GBP/JPY at 201.08

I will post an explanation in a second of why I added the euro short.

Zack

Ok Everyone,

You don't have to agree with me this is just what I think, my interpretation etc etc

As you all probably know...Euro Spiked up again.....there is a reason behind this...Can anyone guess?

If you guessed Oil, then you are correct. Currently if you are not aware, Euro and Oil have a strong correlation. However this correlation doesn't work both ways. You see, if oil spikes up...euro will spike up...and GBP will usually spike with euro, we'll get to this part in a second. Now What I mean by this doesn't work both ways is that when Oil falls....you don't see euro fall....euro will rely on technicals for dropping. Meaning that right now if technicals show down it will only fall if Oil is not rising. And it will rise if oil rises and technicals show up....this skews the market. The big thing that I am waiting for....is for this correlation to dissipate.

Now back to the GBP rising when Euro spikes....this usually happens...what about when this doesn't happen.....what does that mean....well it means one of two things....either GBP is weak or dollar is strong....or possibly a little bit of both. Let's look at what happened a little bit closer....Euro rose a shocking 50 pips....wow good pips there. GBP/USD has barely given up 20....no where near that 50 pips.

So what are we looking at? GBP weak? Well yes I have been saying that for a while now....but I have also been saying that the dollar is expected (in my mind) to rally. Well how do we know that the pound not rising a lot was just GBP weakness as opposed to maybe a little dollar strength? Couple things lets take a look at a major USD pair, USD/JPY. USD/JPY fell a little bit before the euro even started to rise. But when euro started to spike up what did Usd/Jpy do? next to nothing....I believe it also fell 10-20 pips but it was very reluctant to do so, this meaning that it didn't give up those 10-20 pips as easily as it should have. I see a dollar that is holding its ground. This is a good sign for the dollar. Let's also look at the performance of the DOW yesterday....very good. This is also a good thing for the dollar.

Could this be the start of the dollar rally that I have been expecting? Only time will tell...let's see how the US stocks fair in the market today.

This is all part of what I see when I look at charts....you have to look at how different charts react to different situations....maybe this is just me and I am weird...but I could be wrong. Time will tell.

Here is a useful link for those that don't have OIL on their charts.

http://www.livecharts.co.uk/MarketCharts/crude.php

Hope this all made sense, any questions ask away

Zack

Nice piece of information, thanks Zack

what is your target for u/y?
Tom

Ultimately looking for 104-106 area....

Shorter term for possible targets on the next wave up...

102.72
103.46
104.65 as the highest for an instant move

Zack

Because I know a lot of you look to me to see what I am doing....

This is a little late I got in the hedge as it started to drop...

I was a little busy last few hours before I noticed the Head and Shoulders

I am hedged On G/J, U/J and Euro.

Zack

What a morning!

For those that were looking at their charts and saw my post in time....you should have gotten a hedge entry on G/J anywhere between 199.50-200.50...G7 meeting today....looking for dollar weakness

Also, with the dollar weakness now, we should see an all time high on euro....this is the reason for the hedge there....

I did not put a hedge on GBP/USD because of how weak it is....I still expect GBP/USD to fall....it too is in a similar Head and shoulders pattern that G/J and U/J were in....that fall should happen very soon....

How do I know that GBP is weak? compare G/U with E/U and tell me what you see....if GBP was not weak you would see a very similar pattern....instead what you see is it ranging up and down....dollar weakness to gbp weakness to dollar weakness etc etc etc....

I am done for the weekend guys, if you have any questions please feel free to ask them I will be heading off to bed soon.....usually not awake at this hour.

Zack

Not a lot has panned out so far , the euro/gb is still getting stronger , I have been short since early in week, pips down on that, the us/jpy has fallen too, when as Zack expected it to go up, looking for reversals but cant see any, not good so far
Tom

Hey Tom....I am hedged just so you know..posted that 2.5 hours ago....if you are in the GBP/USD trade you should be positive on that +50 or so. My entry was 1.9756, and I called another one less than 30 minutes ago right before it broke out as I said it would price was at 1.9743 when I posted.

During London, as I said before GBP/USD formed a head and shoulders similar to that of U/J and G/J...I caught the HnS on U/J and G/J at the last minute and I got a hedge trade for me there that was less than desirable.

E/G ultimately will come down, but it will be slow going.

Talk to you all later,

Zack

I am slightly mad at muself really, I can understand the u/j dropping on news, but should never have shorted the e/g, the euro being very strong and the pound being very weak, this could take weeks to come down, I did short on your recom, never mind not blaming you, I should have made the decision which is what I usually do
Tom

OK all, I am closing all hedge positions...riding it out with out the hedge now...

You can choose to do what you want if you are fearful of market open etc etc....

GBP/USD closing at 1.9710 +30-46 pips profit

Closing Aud/Usd and Nzd/Usd at a minimal loss

Hedges are closed as I said

2 euro shorts 1.5774 and 1.5818

1 short on euro/gbp my entry is a little lower than most others....7950


Have a great weekend

Zack

i feel u cut mine wen it came down a lil yesterday, dont enjoy calls with no stop loss only to be notified of an hedge after a big drawdown

Might I remind you that I am not giving calls more just what I think the market will do, I have absolutely no responsibility to anyone else, you should be using my thoughts on the market in addition to your own analysis IF you are using my thoughts at all. I am also open for questions as you can always ask me what a suitable stoploss would be....I do not use a stoploss, but that doesn't mean that I don't have areas on my chart where I hedge/would place a stoploss if I had one.

This is a forum thread...even if you get email instant notifications there are always going to be delayed times, and sometimes you don't get the emails when you should.....this was why i wanted to create the Instant Messenger Group to give live updates to within a minute....but then again I would get complaints that someone wasn't at a computer when the message was received...or some other issue

Also money management is not up to me, I can warn you not to look for instant profits or expect a homerun everytime, because you will get burned more than you won't.

I would appreciate putting everything into perspective....and ultimately the choice is not mine when you click the buttons to enter yourself in a trade it is yours. I am not at your computer to trade for you so don't treat me like I am.

I know there are others here that understand the whole picture and this message is not for you.

Zack

Hi Zack
How far do you think us/jpy will drop if any more?
Tom

Hi Tom,

Well the 100.72 fibonacci extension for the Head and Shoulders seems to be holding. If it can close above that on this 4 hour candle which ends in 38 minutes, we should continue the rise up. And if it closes below that...

I see 99.76 as possible.

This match up with what you have?

Zack

zack, where did you take your top and bottom fibo from?
Tom

From the second neckline at 101.52 and the top of the second shoulder 102.03

The last numbers were a little bit off

100.69 is the fib extension NOT 100.72

and 99.87 would be the target not 99.76

Not much of a difference but a difference none the less.

Hope that helps

On G/J the extension is at 198.47 that is the key level that needs to be closed above on the top of the hour in 25 minutes

Zack

4 hr closed yet?

8 minutes