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Going off topic for a moment

I wanted to share a (crude) possible long trade with you
I have been reading a bit about oil this weekend
Although long term trend is pointing down, there is a possible short term buy opportunity
This weekend Saoudi Arabia presents an ultimatum to Qatar
This could possibly lead to unrest and the price of oil rising short term: (source)
http://www.forexlive.com/news/!/the-saudi-13-part-ultimatum-to-qatar-is-insane-20170624
Technically, I see a possible support level for oil:
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Short EurNzd and GbpNzd

I am short EurNzd and GbpNzd today
EurNzd had made a steep move up last month and probably is in for daily retracement
GbpNzd short because of pound weakness and Nzd lows, or seems a good correlation
If market respects technical levels and fundamentals I should be alright
I am hoping for some big moves around current levels, if in my favour it would be nice
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verindur 11 Abr

GBPUSD moved too well today but north.

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Something does not feel right about my USD longs

I am having doubts about my UsdJpy and UsdMxn long positions
I thought I was doing the right thing going long USD at market close on Friday
but I am beginning to have some doubts now
My UsdMxn long looks technically good but is falling
My UsdJpy long seems to be stuck in a losing position, too
I have seen this before in other contests and in live trading
Although the rate hike on Wednesday is a certainty and I would expect a stronger Usd afterwards
things are not always what they seem in trading…
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Deciding to go long UsdJpy

I have decided to go long UsdJpy today
Pair seems to be holding above 101 now - and has retraced back from 103 area
I expect this level to be one of natural retracement,
and it should act as support for a move back up
I do not expect 100 to be broken to the downside - this is also something
the bank of Japan does not want to see happening, and although they should not intervene,
traders will be interested to buy the pair just above 100
I therefore feel there is a case for support above 100, and …
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Daytrader21 avatar

good luck!!:)

AdamFx42 avatar
AdamFx42 16 Ago

Thanks ;-)

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What are the trading opportunities for coming week

In my search for pairs to trade the coming week a few stand out
UsdCad is looking very weak at the moment:
Usd data was not too good on Friday (see my post yesterday) and oil is going up
I will be looking to sell this pair coming week
(maybe after the data release for Canada coming Friday)
Also I will be looking to go long Aud as this is the strongest currency at the moment
gl all
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Time to reveal a little about my strategy (part2)

Yesterday I told you about my Strategy for this month and how I tend to trade
... to finish my story that I was telling you yesterday:
After the Draghi speech and the (unexpected) decision to easy more in the EU, the Euro shot up:
I was prepared for this because I had already positioned myself in the right direction
and had set buy stops in other crosses on the way up -- I made 300K on the move - quadrupling my money.
Of course, you need to be lucky too: I almost got stopped out just before the …
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Perfect Head and Shoulders formed in NZD/USD

A near-perfect Head and Shoulders pattern has been formed in NZD/USD; is this a signal for a reversal in morethan one pair?
NZD has been a very strong performer lately, and the only thing likely to bring it down is fundamentals,
and specifically US tapering in December - we will find out if this happens..
On the first daily chart we see the classic H&S setup, we can clearly see the Shoulders and the Head,
and the neckline is drawn horizontally across the lowest support points within the pattern
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AdamFx42 11 Nov

The edit- button does not seem to be working, when I click on it I am directed to the community page?

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AdamFx42 11 Nov

Anyway, what I wanted to edit was: I don't think the target of this pattern will be reached on Jan 2, but the 100% Fibonacci support around 80.8 will not likely hold, and will be broken to around 80 - hence my target of 79.99

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AdamFx42 15 Dez

The pair has rejected the neckline for now - will need some bad news about US tapering to send it lower

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AdamFx42 18 Dez

Approaching the neckline again - I do hope it breaks forgood now

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AdamFx42 29 Dez

Neckline challenge again - it will have to be a very forceful breakout now

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