BUY AUD/USD
Rate 1.05000Stop: 1.04500
Limit: 1.07500....1.10000
- Follow the Wedge....
- Our limit is the top of the range
- Fibonacci seldom lies
- The Schotastic says it should trend lower before it rises again....
Sunday, January 29, 2012
Thats not a knife.....THATS A KNIFE!
As difficult it would be to forget the iconic Crocodile Dundee.....we cannot allow the AUD to run off without a second glance. I know...many of you missed out on it's meteoric rise after I recommended it at 1.0050 (the bottom of the latest run)....But...i see another window of opportunity!
Stop: 1.04500
Limit: 1.07500....1.10000
Stop: 1.04500
Limit: 1.07500....1.10000
KAMAKAZI!!!! TORA TORA TORA!!!!!
Ok Forex traders....time to attack a different country! Yes...you guessed it....JAPAN! Its about time we re-invade! We aren't done with you yet Yamamoto!
Stop 75.000
Limit 84.644
Full Disclosure: I'm in 10 units at 76.677
BUY USD/JPY!!!!!!!!
Rate: 76.700Stop 75.000
Limit 84.644
Full Disclosure: I'm in 10 units at 76.677
Tuesday, January 24, 2012
EXOTIC? Really?
There are a few currencies out there that are considered "Exotic". Most people don't usually trade them....
From the Hungarian Forint, to the Polish Zloty...from the dirty Turkish Lira, to the Swedish Krona....and who can ever forget The Red Russian Rouble. To all those that point their accusing little fingers at these so-called EXOTIC currencies, I say shame! Not too long ago, the US Dollar was considered EXOTIC by some (not many people...but some). Today, we mark a new day. COME! EMBRACE! ENJOY!
Below...are my new recommendations. NOW LETS MAKE SOME MONEY!
WE ARE NOT MOST PEOPLE!
From the Hungarian Forint, to the Polish Zloty...from the dirty Turkish Lira, to the Swedish Krona....and who can ever forget The Red Russian Rouble. To all those that point their accusing little fingers at these so-called EXOTIC currencies, I say shame! Not too long ago, the US Dollar was considered EXOTIC by some (not many people...but some). Today, we mark a new day. COME! EMBRACE! ENJOY!
Below...are my new recommendations. NOW LETS MAKE SOME MONEY!
Monday, January 23, 2012
Long the Euro?
Last week, the Euro beat us...then beat us again...and then, once again...beat us. Some are still being beaten....
But...that was just a battle, and we have not yet lost the war! Right now, i'm cautiously short the euro because I do think that it is still in a downtrend. That is not to say that it cant go to 1.3250 first before it goes down. It just means that its going to keep going down throughout the year....OR IS IT?
Jim Rogers is a genius. If you recall my previous blogs, he is one of the few economists of any value. (Peter Schiff, Marc Faber, and Gerald Celente being the others)
Jim Rogers : I do not think the EU will break up at all. The euro will have some problems this year. I am actually long on euro. There are many people shorting the euro right now. But I am thinking about buying more. I do not think that the euro is going to break up in 2012. I certainly think it will within the decade, but it will survive this year, maybe some money will drop out of the euro, but it is not going to be the end of the euro. The world needs something like the euro. I hope it can pull together. I cannot invest on hope obviously.
http://jimrogers-blog.blogspot.com/
I'm not going to recommend a long or short position at this point...but we should keep a very close eye on EUR/USD If it starts climbing higher towards 1.32....and depending on the strength of the USD....and any news coming out of Greece....maybe it would be a good time to sneak in an short it for one more downturn.
My main problem with being long/short a position in EUR/USD....is that i hate both currencies. I have little faith in the EUR, and I have even less faith in the USD. I just have to figure out which one sucks more at a given time...
But...that was just a battle, and we have not yet lost the war! Right now, i'm cautiously short the euro because I do think that it is still in a downtrend. That is not to say that it cant go to 1.3250 first before it goes down. It just means that its going to keep going down throughout the year....OR IS IT?
Jim Rogers is a genius. If you recall my previous blogs, he is one of the few economists of any value. (Peter Schiff, Marc Faber, and Gerald Celente being the others)
Jim Rogers : I do not think the EU will break up at all. The euro will have some problems this year. I am actually long on euro. There are many people shorting the euro right now. But I am thinking about buying more. I do not think that the euro is going to break up in 2012. I certainly think it will within the decade, but it will survive this year, maybe some money will drop out of the euro, but it is not going to be the end of the euro. The world needs something like the euro. I hope it can pull together. I cannot invest on hope obviously.
http://jimrogers-blog.blogspot.com/
I'm not going to recommend a long or short position at this point...but we should keep a very close eye on EUR/USD If it starts climbing higher towards 1.32....and depending on the strength of the USD....and any news coming out of Greece....maybe it would be a good time to sneak in an short it for one more downturn.
My main problem with being long/short a position in EUR/USD....is that i hate both currencies. I have little faith in the EUR, and I have even less faith in the USD. I just have to figure out which one sucks more at a given time...
Anyone Hungry?
I keep hearing about how all of these forex traders love trading the Hungarian Forint. They call it "The Darling of the Forex world". So i figured....lets play it!
Stop: 220.000
Limit: 250.000
The following trade is a good play if you think oil prices are going up. Considering the "crisis" at the Straits of Hormuz (anyone who knows me knows I say is BS!), the flourishing US economic recovery (anyone who knows me knows i say this is BS!), and the European crisis coming to an end (anyone who knows me knows i say this is BS!)...there is no reason that oil shouldn't rise. SO LETS MAKE SOME MONEY, YEAH?
Stop: 6.00000
Limit: 5.50000
BUY USD/HUF
Rate: 223.500Stop: 220.000
Limit: 250.000
The following trade is a good play if you think oil prices are going up. Considering the "crisis" at the Straits of Hormuz (anyone who knows me knows I say is BS!), the flourishing US economic recovery (anyone who knows me knows i say this is BS!), and the European crisis coming to an end (anyone who knows me knows i say this is BS!)...there is no reason that oil shouldn't rise. SO LETS MAKE SOME MONEY, YEAH?
SELL USD/NOK
Rate: 5.87250Stop: 6.00000
Limit: 5.50000
Sunday, January 22, 2012
AUD/CHF "The Ultimate Risk-Off Trade"
We gotta watch China this week -- to see if they are going to ease their monetary policy...and if they cut currency reserve requirements -- And by how much. This trade is another little gamble, and I would just buy 1-5 units depending on how much margin you have. Any cut less than 50 basis points...and this trade should work. More than that...and it likely will not. SO....we keep the stop tight!
SELL AUD/CHF
Rate: .98250Stop: .98991
Limit: .92658
And here is one more for you....
SELL EUR/AUD
Rate: 1.23850Stop: 1.24662
Limit: 1.22298
Monitor both of these closely...and keep trailing your stops with the rate to protect your profits!
Friday, January 20, 2012
When Will Gold Reach A New High?
Great Article on Seeking Alpha...thought it might interest some. If I haven't been 100% clear in the past....BUY GOLD!
Some investors are frustrated and a few are worried that gold seems stuck in a rut. This stall in price has happened before, of course, but since 2001 it's always eventually powered to a new high. Unless one thinks the gold bull market is over, it's natural to wonder how long might we have to wait before seeing another new high.
Absent some sort of global shock that sparks another rush into gold (easily possible in today's climate), I think the answer may lie in examining the size and length of past corrections and how long it took gold to reach new highs afterward.
It makes sense that big corrections would take longer to reach new highs than small ones, but I wanted to confirm that assumption with the data. I also wanted to determine if there were any patterns in past recoveries that would give us some clues that we can apply to today.
Gold set a record on September 5 at $1,895 an ounce (London PM Fix) and to date has fallen as low as $1,531 (December 29), a decline of 19.2%. In order to determine how long it might take to breach $1,895 again, I measured how long it took new highs to be mounted after big corrections in the past.
The following chart details three large corrections since 2001, and calculates how many weeks it took the gold price to a) breach the old high, and b) stay above that level.
As you can see, it took a significant amount of time for gold to forge new highs after big selloffs. And yes, the bigger the correction, the longer it took.
In 2006, after a total fall of 22.6%, it took a year and four months for gold to surpass its old high. After the 2008 meltdown, it was a year and six months later before gold hit a new record.
Our recent correction more closely resembles the one in 2003. After a 16.2% drop, gold matched the old high seven months later. It took another two months to stay above it.
So when do we reach a new high in the gold price?
Let's apply the same ratio from the 2003 correction and recovery: If it took 29 weeks and four days to reach a new high after a 16.2% correction, a 19.2% pullback would take 35 weeks and 0 days. That works out to Monday, May 7, 2012.
An exact date is pure conjecture, of course. On one hand, gold could drop below the $1,531 low if the need for cash and liquidity forces large investors to resume selling. On the other hand, Europe and/or the US could resume money printing on a large scale and send gold soaring overnight. The point of the data is that it signals we shouldn't be too surprised if we don't hit $1,900 for another four months yet. And if it takes another two months or so to stay above it.
Think that's too long? There are some important reasons to not let it discourage you…
Once gold breaches its old high, you'll probably never be able to buy it at current prices again.
That's a rather obvious statement, but let it sink in. Buying now at $1,600 and then watching the price fall to, say, $1,500, wouldn't be fun – but it'll probably hit $2,000 or higher before the year's over, never to visit the $1,600s again this cycle. If that turns out to be correct, the next four months will be the very last time you can buy at these levels. You'll have to pay a higher price from then on.
Look at it this way: If the "rebound ratio" is similar to the one in 2003, you have four months and counting to buy whatever gold you want before it's no longer on sale. It's entirely possible that by this time next year you will never again be able to buy gold for less than $2,000 an ounce – unless maybe it's in "new dollars" or some other currency that circulates with fewer zeros on the notes.
The data can also help you ignore the noise about gold's bull market being over and other nonsense spewed from mainstream media types. If gold doesn't hit $1,900 until May, you'll know this is simply normal price behavior and that they're overlooking basic patterns in the data. And when September rolls around – seasonally the strongest month of the year for gold – and the price is climbing relentlessly and they're caught off guard by it, you'll already be positioned.
Regardless of the date, we're confident that a new high in the gold price will come at some point, because many major currencies are unsound and overburdened with debt – and they're all fiat and subject to government tinkering and mismanagement. Indeed, the ultimate high could be frighteningly higher than current levels. As such, we suggest taking advantage of prices that won't be available indefinitely.
After all, you don't want to be left without enough of nature's cure for man's monetary ills.
http://seekingalpha.com/article/320602-when-will-gold-reach-a-new-high
Some investors are frustrated and a few are worried that gold seems stuck in a rut. This stall in price has happened before, of course, but since 2001 it's always eventually powered to a new high. Unless one thinks the gold bull market is over, it's natural to wonder how long might we have to wait before seeing another new high.
Absent some sort of global shock that sparks another rush into gold (easily possible in today's climate), I think the answer may lie in examining the size and length of past corrections and how long it took gold to reach new highs afterward.
It makes sense that big corrections would take longer to reach new highs than small ones, but I wanted to confirm that assumption with the data. I also wanted to determine if there were any patterns in past recoveries that would give us some clues that we can apply to today.
Gold set a record on September 5 at $1,895 an ounce (London PM Fix) and to date has fallen as low as $1,531 (December 29), a decline of 19.2%. In order to determine how long it might take to breach $1,895 again, I measured how long it took new highs to be mounted after big corrections in the past.
The following chart details three large corrections since 2001, and calculates how many weeks it took the gold price to a) breach the old high, and b) stay above that level.
As you can see, it took a significant amount of time for gold to forge new highs after big selloffs. And yes, the bigger the correction, the longer it took.
In 2006, after a total fall of 22.6%, it took a year and four months for gold to surpass its old high. After the 2008 meltdown, it was a year and six months later before gold hit a new record.
Our recent correction more closely resembles the one in 2003. After a 16.2% drop, gold matched the old high seven months later. It took another two months to stay above it.
So when do we reach a new high in the gold price?
Let's apply the same ratio from the 2003 correction and recovery: If it took 29 weeks and four days to reach a new high after a 16.2% correction, a 19.2% pullback would take 35 weeks and 0 days. That works out to Monday, May 7, 2012.
An exact date is pure conjecture, of course. On one hand, gold could drop below the $1,531 low if the need for cash and liquidity forces large investors to resume selling. On the other hand, Europe and/or the US could resume money printing on a large scale and send gold soaring overnight. The point of the data is that it signals we shouldn't be too surprised if we don't hit $1,900 for another four months yet. And if it takes another two months or so to stay above it.
Think that's too long? There are some important reasons to not let it discourage you…
Once gold breaches its old high, you'll probably never be able to buy it at current prices again.
That's a rather obvious statement, but let it sink in. Buying now at $1,600 and then watching the price fall to, say, $1,500, wouldn't be fun – but it'll probably hit $2,000 or higher before the year's over, never to visit the $1,600s again this cycle. If that turns out to be correct, the next four months will be the very last time you can buy at these levels. You'll have to pay a higher price from then on.
Look at it this way: If the "rebound ratio" is similar to the one in 2003, you have four months and counting to buy whatever gold you want before it's no longer on sale. It's entirely possible that by this time next year you will never again be able to buy gold for less than $2,000 an ounce – unless maybe it's in "new dollars" or some other currency that circulates with fewer zeros on the notes.
The data can also help you ignore the noise about gold's bull market being over and other nonsense spewed from mainstream media types. If gold doesn't hit $1,900 until May, you'll know this is simply normal price behavior and that they're overlooking basic patterns in the data. And when September rolls around – seasonally the strongest month of the year for gold – and the price is climbing relentlessly and they're caught off guard by it, you'll already be positioned.
Regardless of the date, we're confident that a new high in the gold price will come at some point, because many major currencies are unsound and overburdened with debt – and they're all fiat and subject to government tinkering and mismanagement. Indeed, the ultimate high could be frighteningly higher than current levels. As such, we suggest taking advantage of prices that won't be available indefinitely.
After all, you don't want to be left without enough of nature's cure for man's monetary ills.
http://seekingalpha.com/article/320602-when-will-gold-reach-a-new-high
Thursday, January 19, 2012
TIME TO RESET.....EUR & GBP
For all those that own the EUR and the GBP......
Today was not good. The Euro broke out of a patten that had been trending consistently since November....and is now in uncharted territory. I dont like to guess...and this trade has already lost us some money, so....just get out. Lick your wounds....clean yourself off....and lets move forward. Sometimes, its good to sit on the sidelines.
These are the trades i just put in...feel free to place these orders as well. If they hit...great. if not...whatever. I will give you a few more by tomorrow....
and these have already executed. If you can get a better price...jump in the water is fine!!!
Of course...if you want to hold on to your EUR or GBP trades....feel free. Its your money. And hey...this guy might turn around and you might be profitable. I just dont like staying in when i dont have some sort of a plan, and because it is out of the channel....i'm going to back out.
Today was not good. The Euro broke out of a patten that had been trending consistently since November....and is now in uncharted territory. I dont like to guess...and this trade has already lost us some money, so....just get out. Lick your wounds....clean yourself off....and lets move forward. Sometimes, its good to sit on the sidelines.
These are the trades i just put in...feel free to place these orders as well. If they hit...great. if not...whatever. I will give you a few more by tomorrow....
***CLICK ON THE PICTURE BELOW***
and these have already executed. If you can get a better price...jump in the water is fine!!!
Of course...if you want to hold on to your EUR or GBP trades....feel free. Its your money. And hey...this guy might turn around and you might be profitable. I just dont like staying in when i dont have some sort of a plan, and because it is out of the channel....i'm going to back out.
Wednesday, January 18, 2012
SINGAPORE BABY!
Contrary to what you might hear on the EVIL CNBC "News" Channel (a.k.a. The Home Shopping Network for "investors"), I'm very bullish on China. We have been hearing over and over how China is slowing down...and the question has been, "Will it be a hard landing, or a soft landing". The China bashing is rampant in our political sphere as well where Obama calls China a "Currency Manipulator" -- as if the US printing money through the fed and artificially keeping interest rates down is NOT currency manipulation?!?!?! I guess COUNTERFEIT isn't MANIPULATION in Congress' twisted mind. But...i digress....
Recently, China's GDP went from the estimated 8.5%....to 8.7%! How could that be? OBAMA AND ROMNEY SAID CHINA WAS GOING DOWN HILL!?!?! And CNBC fed it to us over and over...ok, now i really digress...
TIME TO MAKE SOME PIPS BABY!
SELL USD/SGD -- we are short the US Dollars and long Singapore Dollars just to stick it to Congress!
Rate: 1.2850
Stop: 1.30
Limit: 1.20
So even though i loathe CNBC...I do sift through their daily video archives for some currency trades. I found this little Gem, and I did some of my amateur analytics just to check how he is coming up with some numbers. Feel free to watch:
As for CNBC....they often have Peter Schiff on (my mentor).....and they laugh at him......until time passes and he is proven right. If any of you haven't seen it yet...this is a MUST SEE!!!
Tuesday, January 17, 2012
BUY AUD/USD
Ok...so remember when i said we shoudl buy AUD/USD at 1.0150.....with a target of 1.10?
Ok, so right now....
- It just spike to the highest price since november...and is retreating in a decending wedge (BULLISH)
- The STOCHASTIC meter says it is OVERSOLD (BULLISH)
- Bollinger Bands say that it is consolidating before a big move
- Fibonacci says a good buying price is 1.3680....or (more conservative) 1.03424
- Even MACD looks like its trending downware...but curbing...
Also, notice the triangle. When we see these pattens, we can estimate that the top of the run will be as high as the distance from the base of the triangle to the top. In this case...that number is aligned with my original number of 1.10. SO FAR, SO GOOD!
If you are not in already...now is a good time.
Oh...and if you haven't done so already....please go through AT LEAST the first 2 chapters of The School of Pipsology. It shouldnt take more than 15-20 minutes...and its an easy read.
http://www.babypips.com/school/
Sunday, January 15, 2012
French Bond Auctions....
So, we know what happened last week with the S&P Downgrades in the Eurozone. And everyone (including myself) feels like the euro is going to get smashed today. But one thing that concerns me...is that the US bond action, immediately following the US downgrade...was oddly strong. Could France be ready for the same reaction from the market?
When you read this, the auction will have already taken place. I'll be up at 4am to see the results...and possibly place a trade or two. If all goes well (for us), the auction will be weak, and the Euro will continue its downward trend towards 1.25....then 1.18.
Tuesday, we have the same situation with Spanish bonds, which...after a 2 notch downgrade, should be VERY week....driving the euro down further. Then we get to Wednesday....the German bond auction. Because of all the concerns in Europe, money is flowing into the strongest country....Germany. Sounds like a good idea...except for one thing. THE GERMAN ECONOMY IS TIED TO THE REST OF EUROPE! But hey...you all know i enjoy profiting off of the doom of sovereign nations! (JK....sort of!)
At this point, I'm short 40 units of EUR/USD....and after this week...i might be short 75 units.....hoping to build up to 100 units....riding it down to 1.00! (i don't really think it will get that low)
When you read this, the auction will have already taken place. I'll be up at 4am to see the results...and possibly place a trade or two. If all goes well (for us), the auction will be weak, and the Euro will continue its downward trend towards 1.25....then 1.18.
Key times to check your account...8am.....9:30am....12pm EST.
Tuesday, we have the same situation with Spanish bonds, which...after a 2 notch downgrade, should be VERY week....driving the euro down further. Then we get to Wednesday....the German bond auction. Because of all the concerns in Europe, money is flowing into the strongest country....Germany. Sounds like a good idea...except for one thing. THE GERMAN ECONOMY IS TIED TO THE REST OF EUROPE! But hey...you all know i enjoy profiting off of the doom of sovereign nations! (JK....sort of!)
At this point, I'm short 40 units of EUR/USD....and after this week...i might be short 75 units.....hoping to build up to 100 units....riding it down to 1.00! (i don't really think it will get that low)
Saturday, January 14, 2012
BUY the Aussie, SELL the Sterling! ...and BUY the Euro?
BUY AUD/USD
Rate: 1.02285Stop: 1.00700
Limit: 1.1000
Why?
- 1.02295 is right on the Fib support line drawn from 10/4/2011 to 10/27/2011 - BUY!
- The current price is at the Fib resistance line drawn from 5/25/2011 to 7/27/2011 - BEARISH.....so we wait for it to go down to 1.02285
- the MACD chart shows the fast and slow lines apart, and quite high, signaling a reversal coming soon...
- The SSMA is at 1.025, so putting our bets below it is a good solid conservative play
- There is a clear Wedge Pattern forming after the ascending trend line....signaling a breakout.
SELL GBP/USD (Updated)
Rate: 1.5295Stop: 1.5530
Limit: 1.4800
Why?
This is another play on the euro's demise...but is less crowded. Also...the Bank of England is going to have to cut rates soon with the euro tanking...and this will be very bearish for the Sterling.
And one more trade...
BUY EUR/CHF
Rate: 1.1950
Stop: 1.1800
Limit: 1.2400
Why would Ara recommend buying the EURO...now....when it looks as if Europe is about to collapse? Well, i'm not suggesting that the Euro is a good investment, however the Swiss have made it clear that they will not allow the the Franc to appreciate too much against the Euro. They stated that 1.20 is the low end of the range they are willing to tolerate. SO lets place our trade right under the line...a nice...safe...comfortable place to call our home!
BELIEVE NO ONE....TRUST ARA!
EUR/USD - For those that got nervous and doubted me....YOU ARE A SUCKER!
We made back all of our losses...and then some! IN addition, if you had listened to my recommendation and doubled down at the peak, it would have resulted in even more gains!
But...we have to proceed cautiously. On Friday, we got a gift....multiple soverign debt downgrades in europe. But a quick review of the day shows that the euro got slammed on the RUMOR...and spend most of the day recovering/consolidating. So before we count our profits....next week may be bumpy.
Monday, Tuesday, and Wednesday are key bond auctions in France, Spain, and Germany. Considering the ratings downgrade....they should have a tough time selling anything. But if we remember the ratings downgrade in the US just a few months back, bond sales WENT UP. Strange...but true.
So, my point is....we know that the overall sentiment in Europe is bad, and that they are incapable of doing anything to fix their issues. So regardless of the fluctuation next week..good or bad...the longer term direction is towards 1.18
Oh...one more thing to watch. When the euro was spiking, "EXPERTS" said it was going to 1.31! The day after, "EXPERTS" say that its going to 1.18. NEVER LET THESE PSUEDO-EXPERTS SWAY YOUR DECISIONS! They are all trying to influence the markets to support their positions. BELIEVE NO ONE....TRUST ARA!
We made back all of our losses...and then some! IN addition, if you had listened to my recommendation and doubled down at the peak, it would have resulted in even more gains!
But...we have to proceed cautiously. On Friday, we got a gift....multiple soverign debt downgrades in europe. But a quick review of the day shows that the euro got slammed on the RUMOR...and spend most of the day recovering/consolidating. So before we count our profits....next week may be bumpy.
Monday, Tuesday, and Wednesday are key bond auctions in France, Spain, and Germany. Considering the ratings downgrade....they should have a tough time selling anything. But if we remember the ratings downgrade in the US just a few months back, bond sales WENT UP. Strange...but true.
So, my point is....we know that the overall sentiment in Europe is bad, and that they are incapable of doing anything to fix their issues. So regardless of the fluctuation next week..good or bad...the longer term direction is towards 1.18
Oh...one more thing to watch. When the euro was spiking, "EXPERTS" said it was going to 1.31! The day after, "EXPERTS" say that its going to 1.18. NEVER LET THESE PSUEDO-EXPERTS SWAY YOUR DECISIONS! They are all trying to influence the markets to support their positions. BELIEVE NO ONE....TRUST ARA!
Thursday, January 12, 2012
EUR/USD - Well, i said it was a GAMBLE!
Ok, so we lost the battle on this, but only the brave have what it takes to win the war! I am recommending an all out assault on EUR/USD! Double your shorts! Just to show you all how committed i am...i've added funds to my account just so i can up my short position to 50 units! MY Largest holding yet!
Some of you might be thinking that i've lost it....well, you might be right. But, before you pass judgement, take a look at the chart below. Notice what happens almost EVERY time there is a big movement upwards (the circles should help the doubters find the pattern!)?
FYI - GREEN is UP, and RED is DOWN
Some of you might be thinking that i've lost it....well, you might be right. But, before you pass judgement, take a look at the chart below. Notice what happens almost EVERY time there is a big movement upwards (the circles should help the doubters find the pattern!)?
FYI - GREEN is UP, and RED is DOWN
Wednesday, January 11, 2012
Kind of a gamble...but...
I'm going to recommend you short EUR/USD
Rate: 1.2710Stop: 1.2800
Limit: 1.2500
TECHNICALS: After a big trending patern, an upward wedge pattern means that people are consolidating their positions before the next big downturn. In addition, the end of the wedge seems to be right at the 38.2% Fibonacci line -- which means it will meet resistance.
FUNDAMENTALS: Big news coming out of Europe in the morning @ 8:30am. This could either send the EUR up....or down....depending on the news. I predict (i.e. guess) that it will not make the markets happy, and will be bearish for the EUR.
I am short 30 units......
Monday, January 9, 2012
Some good FOREX websites/blogs
For anyone looking to do their own research.....
....and of course....http://araforex.blogspot.com/
If anyone knows of any other good sites, please respond in the comments section! Thanks...
Sunday, January 8, 2012
Saturday, January 7, 2012
Summary of Ara's Trades for week 1/9/2012
10x units SELL USD/JPY
10x units SELL EUR/CAD
10x units BUY AUD/USD
5x units SELL EUR/NOK
5x units BUY USD/MXN
And keep an eye on EUR/USD. If it starts moving back towards 1.30....get ready to short it!
Oh...and i'll say it again...BUY GOLD and SILVER (www.goldmart.com)
10x units SELL EUR/CAD
10x units BUY AUD/USD
5x units SELL EUR/NOK
5x units BUY USD/MXN
And keep an eye on EUR/USD. If it starts moving back towards 1.30....get ready to short it!
Oh...and i'll say it again...BUY GOLD and SILVER (www.goldmart.com)
Explaining the MXN (Mexican Peso) Trade
The USD/MXN has been on an uptrend for a while...but....
It has just moved below the support level, and worse than that...it is ALSO below the 200 day moving average. One more caviat....the USD Index is currently over 81.50...at the top of its range. The USD/MXN touched the 23.6% fibonacci line and bounced back. If it tests that level and breaks it...we might be looking for a nice retracement back down towards 12.0000.
Check out this chart i made. The black line is the moving average, the yellow dotted line in the support level, and the white lines are the fibonacci retracement levels. The bottom right corner magnified the last few sessions. Notice how it is below both the moving average (black line) and the support line (yellow dotted line)? 2 BEARISH indicators, plus a likely USD pullback! SELL SELL SELL!
It has just moved below the support level, and worse than that...it is ALSO below the 200 day moving average. One more caviat....the USD Index is currently over 81.50...at the top of its range. The USD/MXN touched the 23.6% fibonacci line and bounced back. If it tests that level and breaks it...we might be looking for a nice retracement back down towards 12.0000.
Check out this chart i made. The black line is the moving average, the yellow dotted line in the support level, and the white lines are the fibonacci retracement levels. The bottom right corner magnified the last few sessions. Notice how it is below both the moving average (black line) and the support line (yellow dotted line)? 2 BEARISH indicators, plus a likely USD pullback! SELL SELL SELL!
Friday, January 6, 2012
2 More for Monday Morning : )
NEW ENTRY ORDER #1
SELL EUR/NOKRate: 7.6900
Stop: 7.8050
Limit: 7.5300
NEW ENTRY ORDER #2
BUY USD/MXNRate: 13.8000
Stop: 14.0500
Limit: 12.5000
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