Hi All,
So as predicted in this blog, the crosses have resumed their journey in favor of the longs...GJ alone seems to have been caught in a tight range which should hopefully break out in favor of the longs by tomorrow. All the crosses seem jolly well good enough for a ride in the longs.
The reason for this being that none of the statements out of Japan today spoke of any indication of any rate increase. Though they might have subtly hinted at a rate hike, overall, the tone was not as hawkish as people had expected it to be. So the buyers have come back and as can be seen GJ is back where it was and EJ has even overshot its previous highs..
All in all, a good interesting day. As for tomorrow, some news is due out of NZ and US and that should make things slightly interesting but it should not shake up the JPY crosses a great deal.
CADJPY had been threatening to break out for longs right from morning and finally after the CAD news was out, it too broke out in favor of longs..
Happy Trading!!!
Thursday, July 12, 2007
Market Commentary...
Hi All,
So all the news is out and finally we have the situation where as expected, the JPY banks did not raise rates and Fukui did not make any untoward statements about the weakness of the JPY. So, frankly speaking, this should be good for the longs in the crosses but so far that action has not arrived in the crosses.
Usually, under such circumstances, GJ will lead the weay up for the crosses but today GU seems very weak. I think it has risen too much and so it has gone into a consolidation mode and then this would be later on followed by a breakout on either side. So the weakness in the GU is reflecting on the GJ and hence it is not able to make an upmove. Some more news is scheduled for release later on today and we will have to se after that.
I still favor longs in the crosses.
Happy Trading!!
So all the news is out and finally we have the situation where as expected, the JPY banks did not raise rates and Fukui did not make any untoward statements about the weakness of the JPY. So, frankly speaking, this should be good for the longs in the crosses but so far that action has not arrived in the crosses.
Usually, under such circumstances, GJ will lead the weay up for the crosses but today GU seems very weak. I think it has risen too much and so it has gone into a consolidation mode and then this would be later on followed by a breakout on either side. So the weakness in the GU is reflecting on the GJ and hence it is not able to make an upmove. Some more news is scheduled for release later on today and we will have to se after that.
I still favor longs in the crosses.
Happy Trading!!
Wednesday, July 11, 2007
Supports and Resistances for July 12, 2007
Hi all,
As specified in my previous post, the crosses have come back with strength and we just need to wait a few more hours for the rate announcement and statements from Japan which will give us the next sense of direction for the longs. I feel that even after announcements and the statements, the situation would be good for the longs and we would see further rise in the crosses. This is based on pure gut feel for the market rather than anything else. We just have to wait and see. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 121.88. If that is broken, next support is at 121.40 which is a very strong support and the final major support is at 121.10. On the topside, the resistance is at 122.66 and then at 123.40.
EURJPY - Important support at 167.97. If that is broken, next support is at 167.20 and the final major support is at 166.45. On the topside, the resistance is at 168.45 and then at 168.80.
GBPJPY - Important support at 248.45. If that is broken, next support is at 247.55 and the final major support is at 247.08. On the topside, the resistance is at 249.03 and then a major resistance at 249.70.
Happy Trading !!!
As specified in my previous post, the crosses have come back with strength and we just need to wait a few more hours for the rate announcement and statements from Japan which will give us the next sense of direction for the longs. I feel that even after announcements and the statements, the situation would be good for the longs and we would see further rise in the crosses. This is based on pure gut feel for the market rather than anything else. We just have to wait and see. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 121.88. If that is broken, next support is at 121.40 which is a very strong support and the final major support is at 121.10. On the topside, the resistance is at 122.66 and then at 123.40.
EURJPY - Important support at 167.97. If that is broken, next support is at 167.20 and the final major support is at 166.45. On the topside, the resistance is at 168.45 and then at 168.80.
GBPJPY - Important support at 248.45. If that is broken, next support is at 247.55 and the final major support is at 247.08. On the topside, the resistance is at 249.03 and then a major resistance at 249.70.
Happy Trading !!!
Some thoughts...
Hi All,
Wild day it was, wasnt it. The crosses seemed to have come roaring back but they seemed to have come back a little too quick for my liking. Those who were in the right direction on the crosses (which is long for now) would have reaped huge profits by now. But with tomorrows rate decisions and statements from Japan, those who have not been part of the ride so far would be advised to wait before they get in.
Considering the speed with which the crosses have risen, caution is advised to those who are planning to get in now. Just watch out for the news tomorrow, confirm the direction and then jump in, there is always lots of pips to be made.
Happy Trading!!
Hi All,
Wild day it was, wasnt it. The crosses seemed to have come roaring back but they seemed to have come back a little too quick for my liking. Those who were in the right direction on the crosses (which is long for now) would have reaped huge profits by now. But with tomorrows rate decisions and statements from Japan, those who have not been part of the ride so far would be advised to wait before they get in.
Considering the speed with which the crosses have risen, caution is advised to those who are planning to get in now. Just watch out for the news tomorrow, confirm the direction and then jump in, there is always lots of pips to be made.
Happy Trading!!
Little insight and other details about my system..
Hi All,
Lately, i have been getting a few inquiries about my system, how to join it and all that. First of all, this blog was not started to advertise my system nor was it started to build up curiosity about my system. This blog was started to share whatever little knowledge that i had gained in forex for the past 5 years. At the same time, frankly, i was quite proud of my system and so i gave out about 20% of the calls from my system on this blog so that it would help a few people in their trades. There was no other intention in starting this blog and i had stated as such in one of my earlier articles on this blog. That is why, lately, i have not shared any calls on this blog cos i was getting a feeling that those calls were acting as an advertisement for my system which was never my intention.
But due to the gaining curiosity about my system, i would like to say that my system is based on regression, fibos and moving averages and it is very simple and easy to follow and the signals simply jump out of the charts for me. It is very easy to code an EA based on my system but i do not want to do it cos i love a hands on approach to the market. This is all that i can reveal about my system at this point of time.
As for people interested in buying trading calls etc, let me reveal something which i have not done so far. I already run a signal service with 12 people in it and we are doing fine so far. The reason why i did not reveal this so far was cos, again, i did not want this blog to be considered as an advertisement for my paid services.
Those interested in purchasing my paid calls, account management etc. , pls mail me at kartram.77@gmail.com for further details.
Others can continue to visit this blog as normal for S and R and the occasional trading calls from my system. I solicit your continued patronage to this blog..
Happy Trading!!!
Hi All,
Lately, i have been getting a few inquiries about my system, how to join it and all that. First of all, this blog was not started to advertise my system nor was it started to build up curiosity about my system. This blog was started to share whatever little knowledge that i had gained in forex for the past 5 years. At the same time, frankly, i was quite proud of my system and so i gave out about 20% of the calls from my system on this blog so that it would help a few people in their trades. There was no other intention in starting this blog and i had stated as such in one of my earlier articles on this blog. That is why, lately, i have not shared any calls on this blog cos i was getting a feeling that those calls were acting as an advertisement for my system which was never my intention.
But due to the gaining curiosity about my system, i would like to say that my system is based on regression, fibos and moving averages and it is very simple and easy to follow and the signals simply jump out of the charts for me. It is very easy to code an EA based on my system but i do not want to do it cos i love a hands on approach to the market. This is all that i can reveal about my system at this point of time.
As for people interested in buying trading calls etc, let me reveal something which i have not done so far. I already run a signal service with 12 people in it and we are doing fine so far. The reason why i did not reveal this so far was cos, again, i did not want this blog to be considered as an advertisement for my paid services.
Those interested in purchasing my paid calls, account management etc. , pls mail me at kartram.77@gmail.com for further details.
Others can continue to visit this blog as normal for S and R and the occasional trading calls from my system. I solicit your continued patronage to this blog..
Happy Trading!!!
Tuesday, July 10, 2007
Perfect Week so far for the System...
Hi All,
Last 2 days have turned out to be perfect days for my system. I have abstained from talking about my system entries over the past week or so lest it be considered as some kind of advertisement. But i could not contain this. My system showed long entry for GU at 2.0135, short entry for GJ at 247.36, short for EJ at 167.4 and short fot GBPCHF at 2.4459. Took all of them and sitting on nice profits right now....:-))))...Closed a few, have a few open. All in all, a great week so far...:-)))...
Happy Trading!!!
Hi All,
Last 2 days have turned out to be perfect days for my system. I have abstained from talking about my system entries over the past week or so lest it be considered as some kind of advertisement. But i could not contain this. My system showed long entry for GU at 2.0135, short entry for GJ at 247.36, short for EJ at 167.4 and short fot GBPCHF at 2.4459. Took all of them and sitting on nice profits right now....:-))))...Closed a few, have a few open. All in all, a great week so far...:-)))...
Happy Trading!!!
Supports and Resistances for July 11, 2007
Hi all,
Well, there seems to have been a fundamental shift in the currency market which seems to have hugely weakened the USD. This caused the USD to weaken against all the currencies (including the JPY) and this effect was felt in the UJ which percolated down to the EJ and GJ as well. All good supports were broken for these crosses and now the market is waiting for the next push. Which direction the push would be in will depend on how the London market opens. We just have to wait and see. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 121.09. If that is broken, next support is at 120.30 which is a very strong support and the final major support is at 119.50. On the topside, the resistance is at 121.88 and then at 122.66.
EURJPY - Important support at 166.80. If that is broken, next support is at 166.40 and the final major support is at 165.80. On the topside, the resistance is at 167.50 and then at 168.00.
GBPJPY - Important support at 245.80. If that is broken, next support is at 245.30 and the final major support is at 244.70. On the topside, the resistance is at 246.88 and then a major resistance at 248.00.
Happy Trading !!!
Hi all,
Well, there seems to have been a fundamental shift in the currency market which seems to have hugely weakened the USD. This caused the USD to weaken against all the currencies (including the JPY) and this effect was felt in the UJ which percolated down to the EJ and GJ as well. All good supports were broken for these crosses and now the market is waiting for the next push. Which direction the push would be in will depend on how the London market opens. We just have to wait and see. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 121.09. If that is broken, next support is at 120.30 which is a very strong support and the final major support is at 119.50. On the topside, the resistance is at 121.88 and then at 122.66.
EURJPY - Important support at 166.80. If that is broken, next support is at 166.40 and the final major support is at 165.80. On the topside, the resistance is at 167.50 and then at 168.00.
GBPJPY - Important support at 245.80. If that is broken, next support is at 245.30 and the final major support is at 244.70. On the topside, the resistance is at 246.88 and then a major resistance at 248.00.
Happy Trading !!!
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