PearsonFX Trades

Zack.

was able to close all trades except AUD$, which should close shortly... will close out the day with a total weekly gain of over 650 pips to date. One more day to go...

success to ya...

again, thanks....
see ya laters...

1.9883 entry - Trade Closed Hit Target Profit +163 pips

For those that are in the group, they received extra pips GBP/JPY Short from 206.43 Hit Target profit at 205.00 +143 pips

Short Eur/Usd 1.5471 area
Target 1.5300
Stoploss 1.5540

Will update this later in a few hours

hello im new to the blog jut sent funds today, best of wishes to all

Short GBP/JPY 207.88 area
Target 206.00
Stoploss 208.75

This is a riskier trade because of NFP....use lower pip values.

Please be careful with this trade also, I see potential for this to rise...you may want to consider exiting this trade before NFP

i closed EUR/USD with small profit due to volatile market...
i will wait to see if EUR/USD breaks yesterday's low.

Raising stoploss to 209.75*** THIS IS TO CLEAR THE EMOTIONAL REACTION FROM THE NFP. Even with NFP, I still have very strong sells, it may rise a little more, but I will be selling it down to at least 206.80 and hopefully to my lower target of 205.43. As always and more so with this trade BE SAFE

THIS IS A TRADE UPDATE I PROVIDED THE GROUP WITH BUT I FEEL THAT THIS TRADE IS VERY IMPORTANT AND THAT YOU ALL SHOULD SEE IT TOO

Targets on G/J that you should look to either act as support or be broken by the NFP report

206.99
206.45
206.22
205.68
204.09

Last time i neglected my lower targets as possibilities...this time I am showing them....The game plan is simple....we are looking for sells today and trying to get the best BUY opportunity possible. I am looking for 204.00 area....this will be a great end to the week if it reaches here. From there we will BUY until we reach the true top of this ever expanding daily/weekly rising wedge

Here is my Longterm outlook on G/J

Google (GOOG) is consolidating its $100 rally following its earnings report about two weeks ago. The stock is trading in a tight $20 range between short-term horizontal support and resistance. If GOOG's going to breakout from the bull flag, it should do so in the next few days.
In the short-term, the stock could bolt up to $580, using the distance between support and resistance and adding this $20 to the upper-end of the bull flag.
Looking out further, GOOG could make its way above $600 if it breaks the bull flag. Look for a break and close above the $560 level to inspire further short covering and additional momentum buying.



PLEASE SEE NEXT POST TO LEARN ABOUT BULLISH FLAGS

I took the liberty of gathering information from www.tradingpricepatterns.com and www.trending123.com that I recommend to most of you but still get questions about patterns....so I am posting it here for all to see

Implication A Flag (Bullish) is considered a bullish signal, indicating that the current uptrend may continue.


Description
A Flag (Bullish) follows a steep, or nearly vertical rise in price, and consists of two parallel trendlines that form a rectangular flag shape. The Flag can be horizontal (as though the wind is blowing it), however it often has a slight downtrend.
The vertical uptrend, that precedes a Flag, may occur because of buyers' reactions to a favorable company earnings announcement(GOOGLE), or a new product launch. The sharp price increase is sometimes referred to as the "flagpole" or "mast".



The rectangular flag shape is the product of what technical analysts refer to as consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. This might occur, for example, in the days following a positive product announcement, when the excitement is starting to subside, and fewer buyers are willing to pay the high price that was commanded just a few days before. But, at the same time, sellers are unwilling to sell below a lower support limit.
A bullish signal occurs when the price rebounds beyond the upper trendline of the Flag formation, and continues the original upward price movement. This is considered a pattern confirmation.
When speaking about Flags, technical analysts may use jargon and refer to the flag as "flying at half-mast". Visually, this reference is nothing like a flag at half-mast, such as on a day of national mourning. Instead, this term refers to the location of the flag - at the mid-point of what would otherwise be a continuous uptrend.



Important Characteristics
Following are important characteristics for this pattern.
Trendlines
Flags are very similar to Pennants. However, with a Flag, the price trendlines tend to run parallel, whereas with a Pennant, the price trendlines tend to converge.
Volume
As the Flag develops, the volume tends to decrease. Following a positive product announcement, the price may have reached an unexpected high, and fewer buyers will be willing to buy. Interest in the stock may resume, however, as prices drop, and sellers begin to lower their price. The increased activity explains why you will often notice a sharp spike in volume at the end of a Flag.
Duration of the Pattern
Martin Pring notes in his book, Technical Analysis Explained that "Flags can form in a period as short as 5 days or as longs as 3 to 5 weeks." John J. Murphy identifies that Flags "often last no longer than one or two weeks."



Trading Considerations
Possibility of Price Reversal
In some rare cases, the price will break against the original price movement, and create a reversal trend. The pattern reversal may be signaled during the Flag formation by a sharp increase in volume, as opposed to the more typical decrease.
Duration of the Pattern
The duration of the pattern depends on the extent of the price fluctuations (consolidation). The greater the fluctuations, the longer a pattern will take to develop.
Target Price
It is commonly held that the length of the flagpole indicates the potential price increase. When the Flag completes, the price typically jumps to replicate the height of the original flagpole, while continuing in the direction of the inbound trend.



Criteria that Supports
Volume
Volume should diminish noticeably as the pattern forms.
A strong volume spike on the day of the pattern confirmation is a strong indicator in support of the potential for this pattern. The volume spike should be significantly above the average of the volume for the duration of the pattern. In addition, the volume over the course of the pattern should be declining on average.



Criteria that Refutes
Duration of the Pattern
According to Martin Pring, a pattern that exceeds "4 weeks to develop should ... be treated with caution". After 4 weeks, interest in the stock is likely to decrease to point that it is unlikely to continue in a strong uptrend.
No Volume Spike on Breakout
The lack of a volume spike on the day of the pattern confirmation is an indication that this pattern may not be reliable. In addition, if the volume has remained constant, or was increasing, over the duration of the pattern, then this pattern should be considered less reliable and may actually reverse.
Long Inbound Trend
Shabacker writes that, "When a mast is long ... and it's Flag relatively small, we should naturally expect the movement to be pretty well exhausted when its indicated objective is reached." He suggests that when you observe this formation, and a price continuation occurs, it is best to use the flagpole as a "yard-stick" to indicate the level at which to "take profits, step aside, and watch for further chart developments."



Underlying Behavior
This pattern is effectively a pause in an uptrend. The price has gotten ahead of itself with a steep rise; therefore market activity takes a break before continuing the uptrend. This pause is reflected in the decreasing trading volume. Similarly, a spike in volume marks the resumption of the uptrend.

Will be posting some analysis of how I determined direction of NFP before it gets released, after it is released to give you all some insight

hold for 20 minutes

For those crazy traders out there...me included....

Please set stoploss on G/J short at 209.32

wl, zack ...

ending week of trading with ya with a total profit (very unexpected) :surprised of +956 pip gain and two trades open, but will look for closure shortly.

tnx pipper....

you all have a safe weekend. looking forward for more good stuff next week.

Looking forward to your explanation. Cool.

GBP/USD

GBP/USD was in a very simple Gartley Pattern before the news arrived.

The upper right of this pattern sat right at an important descending resistance, and also at the nice round number of 1.9900.

Bias for the news on this needed no explanation other than looking at the pattern that had formed well before news.....a pattern that actually formed as a result of GBP/USD acting opposite to what the Housing Index indicated that it should do....more reason why I am technical and not fundamental

EUR/USD

EUR/USD like GBP/USD was also forming a pattern pre news release....a bearish continuation pattern.....its self explanatory....

I closed my trade on it early when I saw potential for it to rise higher than I wanted it too (this was hours before NFP)

Last but not least....USD/JPY was a little harder to read because it was sitting right near the 104.80 support. This alone could have been a sign that U/J wanted to break to the upside.

There is a bullish continuation pattern but I believe it is over....the CCI is indicating a strong move down with little room further to the upside.

In addition there is a Gartley pattern that has formed that will strengthen the bearish run down. Immediate targets in the low 104.00s until it can break through there and gather the necessary Moving Average momentum.

There were two choices on the cal for NFP....Short because of the major resistance and the small head and shoulders on the 1 hour charts......or Long because of the 4 hour prevailing pattern and price hugging the resistance

I traded against my analysis of GBP/USD and EUR/USD on this trade as i saw a weak GBP and EUR....unfortunately we can't have all three

I did know that longer term no matter what sells were going to win out....hope that helps i need to run....have a good day.

Zack

GREAT stuff pearson, thank you for sharing with us!

Hi Zack & all Pipers

I am a newbie and been looking and reading this thread for quite sometime now from the sideline.

Zack, yr trade call are awesome. Honestly, there isn't others like u in FF.

I have a question to ask. Hope if Zack is not free to answer, anyone pls do answer it pls.

What are the advantages of subcribing to yr monthly trade call compare to the free trade call?
And to subcribe, do we have to make subsequent monthly payment after the first payment or is it auto deduction after the first payment was made? And what do we do if we decide to stop to subcribe?

Tks a lot for yr kind answer