AUDUSD March 15, Super Sell!
March 15, 2011
What more can I say except wow when it comes to this trade, just so simple using the TOP TREND method which is is my opinion better than Chandelier stops due to them also acting as trend lines of sorts visually helping you understand the direction of trends, but what is most important is to identify short term retracements, buy high, sell low, vice versa, and make sure you get in near the tops of swings not the bottoms, you’ll be much happier in this market. I don’t put 100% faith or my system in one indicator but combined with volume indicators, knowing the trend is changing and picking up it helps as you can see below, price just moves sideways, you can draw a trend line above or below and sell the breakout which occurs at the same time the Heiken Ashi bars change to red, and the top trend indicator changes to red.
But to the matter at hand, AUDUSD was just simply an easy trade this morning, knowing that it was being sold en masse almost vs other majors I expected a move down, but nothing this intense. At 2:15AM the top trend indicator is violated and I short and it goes down an incredible amount, getting out at the second circle which turned out to be another good entry point but the pair had been see-sawing around 1.000 for so long I just didn’t expect the reversal of AUDUSD to happen today, if that is what’s happening here.
Does anyone else see this as a reversal of AUDUSD or just a correction for another move higher?
CADJPY March 15, 2011
March 15, 2011
This is a trade I did not enter but I just saw that JPY was strong against the majors and CAD was being sold incredibly almost at the same time and if you look back you can see two places for entries at least using a simple moving average.
The crisis in Japan with the Nuclear Reactor at Fukushima has led the Bank of Japan to take measures to backstop any fleeing of investors offshore with an influx of Yen into the market. And this has for the interim bolstered the Yen by keeping money in the country and even attracting speculators to buy. But their stock market continues to decline and if you look at correlations between their indexes and the currencies this may not last forever.
Incredible moves on all JPY crosses today really.
Did anyone else catch any good moves?
SUPER USDCAD – Headed back toward parity at last?
March 15, 2011
Today really defied my expectations with this pair, I entered where you see the first circle but only anticipated a 50 pip move. Price hits above my mark but then retraces but hits the LSMA and quickly shoots back up all morning, we saw a retracement since but unreal amount of volume on this pair today wasn’t there? The Japan Quake and Fukushima nuclear crisis must have much to do with this USD strength and less demand for the CAD, but what are these reasons we can explore together? I’ve been reading many reasons why currencies are doing this but one article says this, another says that, me? I’m making pips by just following the charts!
As you can see, I was way off but in a good way!
As you can imagine, CADJPY was an incredible pair to trade as well today but I did not think to enter it.
GBPJPY March 11
March 11, 2011
GBPJPY lost alot of its value today as well before retracing over 200 pips, just another wacky friday pair to trade but trying to do some real analysis on it I see some ways to profit off the chaos of the day.
After I made this chart, GBPJPY went all the way down to 130.00 before retracing to where you see it now, so another chart would do some justice here but since it ended up where it is hours before the spike down I will not waste your time with more charts, what I do see is 2 great spots to get in, one near the beginning of the down trend all the way up by 134.00 and another after a retracement and strong rejection of the 133.80 level near a chandelier stop indicator then down over 200 pips.
EURJPY March 11
March 11, 2011
EURJPY was one pair at least that did not follow suit with the Tsunami / Earthquake news and cause a huge demand for Yen, we actually saw JPY push EUR down today before much of the other moves happened and keep it near 113.50 levels which is a weekly pivot as well, so no tremendous volume on this toward the downside like on the other Yen crosses.
In this chart I point out a great spot not only where price action gets us in, this candle stick set up engulfing bear candle strong rejection of 115.03 and a 200 pip move down to 112.75 before bouncing back another 100 pips to 113.70 where it is today. Many new traders see this in pip value, I see this in percentages and overall value, EURJPY lost almost 3% of its value today before giving back another 1% (if we’re dealing with 115Euro per 1JPY, then 115 down to 112 in one day is significant and telling about the future for EURO not the Yen necessarily.
Im going to keep my eye on the debt woes out of the Eurozone next week.
