PearsonFX Trades

Still Long on GBP/JPY

Still Short at Eur/Aud

Adding Short on GBP/USD at 1.9796

See you around news in an hour

Zack

Oil spiked...

Adding another short at 1.9860 on GBP/USD


Other trades that I would recommend that I am NOT in...

Shorting Eur/Usd right now...

Long on Usd/Chf....

Long on Usd/Cad

Long on Usd/Jpy...

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Target for G/J Long is 200.50+

Zack

Target for GBP/USD as of right now 1.9700-1.9750

or the usual 50-100 pips

GBP/USD is bouncing off a 4hour/Daily pattern...bonus points for anyone that can spot it and name it

Euro 1.5650 target

US/JPY 102.00 target or more

USD/CHF 1.0100 target

Eur/Aud 1.7000 target

any others I missed? This is going to be a dollar day......just my thoughts

Zack

GBP/USD Everyone should have made a good pip count....

+50

+100

or if you got out at 1.9750

If you are still in the trade you can hold it for 9700 or less but I am not going to update this trade anymore because it has hit my targets

Hello Everyone....

I am partial hedging G/J for 50 pips if you want, risk involved.

I am closing Eur/Aud Short for a 28 pip gain.

I am opening a new Short on Aud/Usd .9267 Target 50-100 pips

I am opening a new Short on Eur/Usd 1.5822 Target 100 pips

See you all later tonight

Zack

G/J trade closed for +50

I am long on G/J at 198.91 with a target of 202.75

I am short on Euro at 1.5860 and 1.5822 Open target for now
(this means the usual 50-100 or if you want to hold it til I close mine)

I am Long on Usd/Jpy at 100.85

Hope you all got out the the Eur/Aud with more than what I got out with.....if you are still in it you can still close with about what I got on it

Zack

what is your analysis for geppy and G/U before the news comes out in an hour?

Well, My analysis for GBP/JPY is bullish today through london and new york

This is why I added the long position at 198.91 with a 350+ target...it may take a little longer maybe through asian today but it should hit.

As for GBP/USD....GBP/USD has been very weak lately and I haven't seen any signs that that is about to change. This morning it was carried up to almost 1.9900 before it hit the trendline resistance and was almost immediately shoved back down. The rise of course had nothing to do with GBP strength, but rather dollar neutrality and Euro strength empowered by oil.

The fact that GBP sold off almost twice as much as the euro and then kept going beyond that shows me that GBP is really weak still.

I looked on the FF calendar and the news release you are talking about is the CPI, It is expected to be good for GBP.....because it's expected to be good I think that many will try and give strength to GBP but will be pushed down severely with either the news coming out worse than expected or overall market sentiment not letting a rise occur.

This is just my view of what will most likely happen....it does not guarantee that outcome.

GBP is still very weak, and I have no indications that it wants to strengthen other than on the 4 hour/Daily chart with a massive wedge....but with a wedge that big, a breakout does not have to be biased towards either direction. Of course the nature of descending wedges is a bullish continuation pattern. This is on a daily chart which lets me know that yes I think GBP will strengthen, but it may take a little while longer, as on the lower timeframes I don't see any reversal indications, or bearish patterns that have failed yet.

Hope that helps.

Zack

Hi Zack and guys
Iam short on e/u, in at 1.5854, target 1.5850, im still long in us/jpy also
Tom

Hi Tom,

Good Morning, I am sure its a typo...otherwise congrats on the 4 pip scalp trade. Are you looking for 1.5750?

Zack

Yes I meant 1.5800
Thanks mate
Tom

thanks!

What is your position on E/U? i can see Euro Bullish above 1.5800, targeting 1.6000..what do u think?

Hey Titan,

There are two outlooks that I have on the Euro right now

For the more intraday look, I am bearish on the Euro. I would see sells down to 1.5750 area or lower. This is because we are very near the top of the resistance and the resistance in the 1.5860-1.5880 has been proving very tough to pass through

Now looking at Euro through a pattern perspective you can see the price on a daily chart slowly getting condensed.

The top resistance lies at 1.5913

A solid break of this and I can see 1.6000 easy...you would most likely be looking at 1.6100. And I mean a solid break...a close above and keep going...not a break to 1.5916 then back down kind of thing.

The supporting TRENDLINE sits at 1.5691 today and will be at 1.5702 tomorrow. The Terminal End of this pattern is 11 days away...meaning that if Euro were to condense itself in this pattern before a breakout it would have 11 more trading days to do so. Usually patterns breakout before they reach the end of the pattern. I would be looking for the euro to choose a direction within the next few days.

It seems likely that the Euro will break past the 1.5913 level....but if the dollar proves the strength that it has subtly been showing I would see a break of the bottom trendline. and thus quite possibly a very temporary end to the euro's current rally.

At the end of this week...the line to be broken will be resting at 1.5737

Hope this makes sense

Zack

Pearson, can I borrow your crystal ball? I'm long g/j from 198.72. I follow your directional thinking every time you post. Are you solely relying on technicals as to where you think it's going?

Hey Mike,

I am a 100% technical trader. I "listen" to the market, lol, everything that I predict I gathered simply by looking at the charts and determining to the best of my ability if the currency is strong or weak. For news releases this is what really matters. If a currency is strong, the trend is your friend, don't bet against it unless you see a sign from the market indicating a reversal.

If a reversal indication is present, in a pattern or somewhere, then chances are that the currency that was strong may be beginning to show some weakness.

I have said it many times before that I don't trade the news....I really don't see their relevance....the market accounts for the majority of everything...even last minute emergency rate cuts. Of course you need to be quick on your toes for that, but the market warned everyone of the US's emergency rate cut 4 hours before it was released.

Just giving my help, I'm glad it's helping you out.

You can ask questions later...I need some sleep. Post them here and I can answer them...I will also be posting some charts of some of the majors and where they are heading for me. Best of luck for those that trade during the US session.

Hope you all made some pips today.

Zack

Get some rest... I just made 80 pips on g/j, thanks. As per my previous post, I don't look for the complete move, I simply try to gain insight to your directional thinking. You have a great deal to offer. Look forward to any and all analysis you provide.....

Hi Zack

I hope you got some rest...i'm checking on your post for your analysis for today's trading session. Do u think intraday bias for geppy will be the bullish? I am looking to sell Geppy today but it would seem more probable that we'll see follow-through to 1.97 at least.
For E/U there are potential bearish patterns but yesterday's move lower from 1.5912 looks more like a 'dip'. Just now there is a break above the 1.5810 pivot resistance already seen this morning. E/U shld return to 1.5874 and 1.5912



trade at your own risk

Very informative thread, Nice Trading......Now im subscribed lol

I am Short on the Euro at 1.5845 target 1.5800 right now

I am looking for sell offs on GBP/USD at current price

1.9711 second choice
1.9757 as high as this one..

Still Bullish on GBP/JPY tonight, it needs to gather a little momentum but if not a rise during london tonight I expect it later today during the US session

Zack

Thanks Beast,

Good to hear from you, I like your calls as well.

Zack