My EUR/USD Trade (28-11-2007)

*Attached chart, click on it for the enlarged version.

Hello everyone,

I did a trade today on the EUR/USD. I have my first support at 1.4807.

I initiated a short position on his pair at the price line of 1.4803 at 3:23pm. My stop loss at 1.4825 and target profit at 1.4730 ( I have a support at 1.4724). I shifted my stop loss to 1pip away from entry price when market has moved my way and my target profit was hit at 4:41pm. 73pips profit for this trade :)

Peace and trade safely everyone...

Global Events Calendar [26-11-2007] - [30-11-2007]

*Time is with respect to Singapore Time.

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Global Events Calendar [26-11-2007] - [30-11-2007]
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Monday [26-11-2007]
[No Event]

Tuesday [27-11-2007]
12:00am----------EUR ECB President Trichet Speaks
7:50am-----------JPY CSPI y/y
7:50am-----------JPY BOJ Governor Fukui Speaks
4:15pm-----------CHF PPI m/m
5:00pm-----------EUR German Ifo Business Climate Index
5:00pm-----------EUR German Ifo Business Expectations Index
[Time Unknown]---CHF Consumption Indicator
10:00pm----------USD National Home Price Index
11:00pm----------USD Consumer Confidence
11:00pm----------USD Richmond Fed Index

Wednesday [28-11-2007]
12:15am--GBP MPC Member Blanchflower Speaks
2:30am---USD Chicago Fed President Evans Speaks
2:45am---GBP MPC Member Sentance Speaks
7:50am---JPY Retail Sales y/y
7:50am---JPY Large Retailers' Sales y/y
3:00pm---EUR German Consumer Confidence
5:00pm---EUR M3 Money Supply y/y
5:15pm---CHF SNB Chairman Roth Speaks
6:30pm---CHF Leading Index m/m
9:00pm---USD Fed Governor Kohn Speaks
9:30pm---USD Durable Goods Orders m/m
9:30pm---USD Core Durable Goods Orders m/m
11:00pm--USD Existing Home Sales
11:30pm--USD Crude Oil Inventories

Thursday [29-11-2007]
3:00am---USD Beige Book
7:50am---JPY Industrial Production m/m (p)
3:00pm---GBP Nationwide House Prices m/m
4:55pm---EUR German Unemployment Rate
5:30pm---GBP Mortgage Approvals
5:30pm---GBP Net Lending to Individuals m/m
5:45pm---GBP MPC Treasury Committee Hearings
7:00pm---GBP CBI Distributive Trades Realized
9:30pm---USD GDP Annualized q/q (r)
9:30pm---USD GDP Deflator Annualized q/q (r)
9:30pm---USD Unemployment Claims
11:00pm--USD New Home Sales

Friday [30-11-2007]
5:30am---USD Fed Governor Mishkin Speaks
7:15am---JPY Manufacturing PMI
7:30am---JPY Core CPI y/y
7:30am---JPY Core Tokyo CPI y/y
8:00am---USD Fed Chairman Bernanke Speaks
1:00pm---JPY Housing Starts y/y
2:45pm---CHF GDP q/q
2:45pm---CHF CPI m/m
3:00pm---EUR German Retail Sales m/m
6:00pm---EUR CPI y/y (p)
6:00pm---EUR GDP q/q (r)
6:00pm---EUR Consumer Confidence
6:30pm---GBP Consumer Confidence
9:30pm---USD Core PCE Price Index m/m
9:30pm---USD Personal Spending m/m
9:30pm---USD Personal Income m/m
10:45pm--USD Chicago PMI
11:00pm--USD Construction Spending m/m

[After Friday's Midnight]
1:30am---USD St. Louis Fed President Poole Speaks
2:40am---USD Fed Governor Kroszner Speaks

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My USD/JPY Trade (23-11-2007) - (Update)

Hello people. This trade has just got stopped out at 5:23pm (Singapore Time) with 1pip profit :P Hahaha!!! 1pip profit for today ;P

Peace and trade safely everyone :)

My USD/JPY Trade (23-11-2007)

*Attached chart. Click on it for the enlarged version.

Today is Japan's holiday but I see some potential movements.

I initiated a short position today on the USD/JPY at 9:37am (Singapore Time) at the price line of 108.32.

As of now, my Stop Loss has already been shifted to entry price. Actually 1pip away from my entry because if I were to be stopped out, it is still a winning trade :P Hahaha. My Target Profit is at 106.80.

Taking into consideration that today is Japan's holiday and that the true range movements might not be as good. It depends on how it moves later. I might close it manually. It will be updated, no worries :)

Peace and trade safely everyone...

Yen Outlook (21st November 2007)

USD/JPY and JPY crosses looked bid at the Asian open with EUR/JPY and other crosses actually trading much higher on the back of the fresh record high of 1.4853 record high in EUR/USD and moves higher in other currencies against USD. The positive finish on Wall Street helped. This feel-good tone which some expected to hold into the US Thanksgiving holiday tomorrow and Japan's holiday Friday did not last.

Fresh jitters over subprime lending, exacerbated by recommendations from Goldman Sachs to sell Societe Generale and Credit Suisse stock and comments from ex-Fed Greenspan that moves to clean up the subprime mess are now dead-locked saw the Nikkei and other regional stock market indices tank. This spurred on JPY buys despite comments from Japan METI's Amari that Y110 against USD was appropriate and that any move towards Y100 over the course of year would not.

USD/JPY traded down from 109.99 to as low as 108.89. Bids from Japanese importers on 109 were absorbed in the process. EUR/JPY plunged from 163.16 to 161.66, GBP/JPY from 227.40 to 225.40, AUD/JPY from 98.38 to 96.48 and NZD/JPY from 84.27 to 82.73.

NEWS: Nikkei Closes Off Worst Levels, Down 373.86 Pt Or 2.46%

November 21. The Nikkei closed at 14,837.66 or down 2.46% on the day. It was down close to 3% at one point to 14,770.22. The early high was 15,154.31 just after the open. TOPIX closed out the session at 1438.72, down 30.55 points or 2.08% on the day. Sell recommendations for Societe Generale and Credit Suisse shares from Goldman Sachs helped increase the negative tone in early afternoon trading. This was followed by comments from ex-Fed Greenspan that moves to fix the subprime mess had halted. Other bourses in the region also saw major losses.

NEWS: Ex-Fed Greenspan - Moves To Correct Subprime Mess Halted

November 21. Over Bloomberg. These comments are seen to have helped the Nikkei and regional stock market indices trade lower this afternoon in addition to more financial institution sell recommendations from Goldman Sachs. At writing, the Nikkei is down 416.28 points or 2.74% on the day at 14,795.24. USD/JPY has traded down to as low as 108.93. EUR/JPY traded back below 162.00 to as low as 161.75.

Sterling Outlook (21st November 2007)

Cable opened in Asia at 2.0660 and has traded in a 2.0637/78 range. EUR/GBP opened at .7173 and has seen a .7171/835 range. A renewed spate of rumours, firstly regarding a possible emergency Fed meeting and secondly regarding Middle East nations and their peg policy have added to volatility but there seems to be little fire to either of these smoke alarms.

Sentiment remains uniformly bearish in Asia towards sterling especially on the crosses and traders talk of an up the stairs down the elevator for the GBP though many will reassess should cable break above intermediate resistance around 2.0845.

Key event risk later today will be the release of minutes from the November BoE MPC meeting which will reveal tendencies leaning towards further rate cuts.

Order books seem to have more stop losses than is usually the case with trader stops above 2.0700 likely to come into play at some stage during the day. Significant optionality between .7200/50 is also likely to act like a magnet to the EUR/GBP market.

Euro Outlook (21st November 2007)

The EUR/USD opened around 1.4820 in Sydney, surged to a high of 1.4852 in late NY trading, as trader and model fund stops were tripped above 1.4825 and subsequently consolidated below in Asia, slipping to 1.4814 on EUR/JPY selling.

This selling was initially inspired by Japanese profit taking in the cross, compounded by the weak performance of the Asian equity markets, despite the late recovery on Wall Street; the Nikkei is down 1.29%. The cross fell from 163.38 to test 162.46, as the Asian equity markets focused on the lower 08 U.S. growth forecasts in the FOMC report, the drop in U.S. building permits and continued sub prime fears. Initial support comes in at 1.4770/80, the hourly range low in NY and resistance at this morning's 1.4850/55 high.

The strong up trend in the EUR/USD remains on track for a test of 1.5000 in coming sessions, as EU officials accept the inflationary benefits of the strong currency over the negative impact on competitiveness. Dealers also report order books stacked with small topside stops, as investors try to pick the top of this trend, while bids remain below 1.4600, thus a 1.5000 test looks viable.

USD/JPY, EUR/JPY: Reacting More To Nikkei Weakness

USD/JPY and EUR/JPY looked to be rather complacent to fresh stock market weakness this afternoon. This may no longer be the case with both pairs heading lower. USD/JPY is down at fresh lows of the session at 109.45/50 and EUR/JPY has traded down to as low as the 162.25/30 level. The Nikkei is currently down 308.36 points or 2.03% at 14,903.16.

USD/JPY does continue to see Japanese importer buying interest with bids seen trailing down to 109.00 and especially heavy between 109.05-15. Option players are also likely buyers ahead of barriers at 109.00. Stops below this level are seen to be large however and could provide a target for specs when European trading gets under way. EUR/JPY sees next support around 162.00 and then at 161.81, where the gradually ascending 200-day moving average comes in.

Nikkei Back Down Towards 15,015.35 Early Low

[21st November] - The Nikkei is falling again, indicated currently at 15.024.30, down 187.22 points or 1.23% on the day, and very near the 15,015.35 early low. JPY crosses nor USD/JPY have not been affected all that much yet. A break below 15K however could, and many players still in the market look to be on tenterhooks. Tokyo should see continuing interest in USD/JPY on moves lower.

Update - Forexnewspaper.blogspot.com's Weekly Video Analysis.

Greetings loyal readers of Forexnewspaper.blogspot.com,

As you all know that as mentioned before, Forexnewspaper.blogspot.com is looking to add on a weekly video analysis on the Forex market as one of its posting. It is looking to have Franky to host the video and analysis but unfortunately, Franky is hard to grab hold of.

Instead, we have found another character that is willing to host the video analysis and his name is Osamex. Attached picture to this post is a picture of Osamex.

How will the video be done? It is still under planning.

Forexnewspaper.blogspot.com has decided to use the service from YouTube to host its videos. Stay tune for more updates. Forexnewspaper.blogspot.com is looking to launch or start posting its weekly video analysis in December 2007 or latest by next year, January 2008.

Warmest Regards,
Forexnewspaper.blogspot.com

Global Events Calendar [19-11-2007] - [23-11-2007]

*Time is with respect to Singapore Time (GMT+8:00).

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Global Events Calendar [19-11-2007] - [23-11-2007]
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Monday [19-11-2007]
8:01am---GBP Rightmove House Price Index m/m
7:00pm---USD Treasury Secretary Paulson Speaks
11:30pm--USD Treasury Secretary Paulson Speaks

Tuesday [20-11-2007]
2:00am---USD NAHB Housing Market Index
3:00pm---EUR German PPI m/m
3:15pm---CHF Trade Balance
5:30pm---GBP Public Sector Net Borrowing
5:30pm---GBP M4 Money Supply m/m
5:30pm---GBP BSA Mortgage Approvals
7:00pm---GBP CBI Industrial Trends Orders
9:30pm---USD Housing Starts
9:30pm---USD Building Permits

Wednesday [21-11-2007]
3:00am---USD FOMC Meeting Minutes
7:50am---JPY Trade Balance
7:50am---JPY All Industries Activity Index m/m
5:00pm---EUR Italian Retail Sales m/m
5:30pm---GBP MPC Meeting Minutes
9:30pm---USD Unemployment Claims
11:00pm--USD Consumer Sentiment (r)
11:00pm--USD Leading Index m/m
11:30pm--USD Crude Oil Inventories

Thursday [22-11-2007]
[Whole Day Event]---USD Holiday: Thanksgiving Day
3:00pm--------------EUR German GDP q/q (r)
4:15pm--------------CHF Employment Level
5:00pm--------------EUR Current Account
5:30pm--------------GBP Business Investment q/q (p)
6:00pm--------------EUR Industrial New Orders m/m

Friday [23-11-2007]
[Whole Day Event]---JPY Holiday: Labor Thanksgiving Day
3:45pm--------------EUR French Consumer Spending m/m
4:30pm--------------EUR ECB President Trichet Speaks
5:00pm--------------EUR Manufacturing PMI (p)
5:00pm--------------EUR Services PMI (p)
5:30pm--------------GBP GDP q/q (r)
5:30pm--------------GBP Index of Services 3m/3m
5:30pm--------------GBP BBA Mortgage Approvals

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My EUR/JPY Trade (15-11-2007)

*Attached chart. Click on it for the enlarged version.

Hello everyone.

Last night, EUR/JPY was looking good. Towards the end of 11:00pm (Singapore Time) candle, I saw that this pair is losing momentum to the up side and a formation called "Reverse Hanging Man".

With a channel drawn and using my "Similar Wave" pattern, I did a quick analysis on where I should take my profit. At 12:00am (Singapore Time), I initiated a short position at the price line of 162.20. My stop loss was at the price line of 162.60 (40pips) and my target profit at the price line of 160.30 (190pips).

Today, I woke up, it was looking good and I shift my stop loss to entry price but after it broke my support at 161.00 at around towards the end of 10:00am (Singapore Time), market was hovering around that price. I wasn't comfortable with the price action and I manually close this trade at the price line of 160.96. That is 124pips profit for this trade.

If this pair still have the strength on the downside, I will still look forward for selling opportunity today.

Peace and trade safely everyone.

My EUR/USD Trade (15-11-2007)

*Attached charts. Click on it for the enlarged version.

Hello people.

My trade with the EUR/USD today. At the end of 3:00pm (Singapore Time), I saw a very nice set-up on the EUR/USD. I drew a channel and used my technique that I called "Similar Wave" to forsee the possible target profit.

As you can see in the charts on how I use my "Similar Wave" pattern. Loyal readers to my blog will understand it :)

With all the analysis done, I initiated a short position at the price line of 1.4680 at 4:00pm (Singapore Time). My stop loss was at 1.4695 (15pips) and target profit was at 1.4620 (60pips). A reason on why I had that price line for my target profit is through my "Similar Wave" pattern and also because I have a support level at the price line of 1.4613 which is also near to my 200ma in my Hourly chart.

My target profit was executed at 6:45pm (Singapore Time). 60pips profit for today :)

Peace and trade safely everyone...

My EUR/JPY Trade (12-11-2007)

*Attached chart. Click on it for the enlarged version.

Hello everyone.

Today, as usual. I was looking at GBP/JPY and EUR/JPY, other than the Majors.

Today with the EUR/JPY, I have my first set of resistance and support. Resistance at 163.83 and support at 160.03. Around afternoon time, EUR/JPY bounced at the price line of 161.00 but the candle pattern's strength on the upside wasn't there. I initiated a short position at the price line of 161.40 at 4:39pm (Singapore Time). Stop loss at 161.80 (40pips) and target profit at 160.10 (130pips), which is near to my support. I am a conservative trader :P Hehehe... This trade with a Risk:Reward of 40:130, around 1:3.

I went out for dinner with my fellow comrads at around 6:30pm (Singapore Time). Wasn't looking at the charts, when I got back to my laptop at around 9+pm (Singapore Time), my target profit was hit at 7:06pm (Singapore Time). Not bad virgin trade for this week of 130pips while having a good time outside :)

Peace and trade safely everyone...

My GBP/JPY Trade (09-11-2007)

*Attached charts. Click on it for the enlarged version.

Hello people :) How is everyone doing? These past few weeks has been very tiring for me because I think I have made too many trades which means, too many pips profit in my pocket! Hahahaha!!!

Anyway, a trade I am going to share is one of my GBP/JPY trade. I am attaching 2 charts. One is my GBP/JPY (Weekly) chart and the other is GBP/JPY (Hourly) chart.

Analysation on my GBP/JPY (Weekly) chart is simple. I already have the channel drawn and again I use my "Similar Wave" technique to analyse. As you can see, first wave "A" followed by wave "B", then I use the same parameters from wave "A" to forsee wave "C". So I am expecting to seel rather than buying.

On my GBP/JPY (Hourly) chart, I have two critical resistance level. First one is at the price line of 237.70 and the other is at 238.27. By the end of 4:00pm (Singapore Time), market was not able to break my resistance level at 237.70.

I initiated a short position at 5:08pm (Singapore Time) the price line of 237.10 with stop loss at 237.70 and target profit at the price line of 235.50, near to my support at 235.20 (close to Wednesday's low). My target profit was executed at 6:22pm (Singapore Time). That is 160pips profit for this trade :) Hehehe. But GBP/JPY dropped all the way to 232.80. CRAZY!!! Well, money made, no complains :)

Peace and trade safely everyone...

My GBP/JPY Trade (05-11-2007)

*Attached chart. Click on it for the enlarged version.

Yesterday, I did a few trades but most of them, the first few trades I closed it manually with profits ranging from 1-5pips each, close to my entry price. Stupid trading day.

The last trade that I made, which is this one, on the GBP/JPY. I initiated a long position at 10:49pm (Singapore Time), yesterday (05-11-2007) at the price line of 237.55. Why did I initiated a long position? I got home at around 9:30pm (Singapore Time) last night. I saw that this pair has a loss of momentum on the downside with nice done rejection tails. So with the 10:00pm (Singapore Time) candle finishing with rejection tail, I placed a pending order to long at 237.55 which is of course, again it is filled within seconds. Wonderful GBP/JPY :)

As I waited to see how this 11:00pm (Singapore Time) candle ends, I was getting sleepy and tired. I want to see if it can break above my resistance level at 238.25 because if it can, I will shift my stop loss to entry price and keep it overnight. My eyes was getting heavy and with all the profits I made last month, I couldn't be bothered to wait.

I manually closed this trade at 11:38pm (Singapore Time) at the price line of 238.11. 56pips profit for this trade. Not really good since this is GBP/JPY we are talking about :(

My GBP/JPY Trade (01-11-2007)

*Attached charts. Click on it for the enlarged version.

Majors are still still giving me the creeps.

Today, 01-11-2007, I went in with the GBP/JPY again.

In the day, I went in a long position at the price line of 239.60, 1:02pm (Singapore Time) with a target profit at 241.40. By 6:30pm (Singapore Time), I was like in the money but considering heavy data coming out on the USD's Jobless Claim and ISM, I shift my stop loss to 5pips above entry. I did that because I will not be around to monitor the market while the data comes out because I am going out for dinner at Ichiban with my gf. Anyway, Ichican serves good Japanese food.

I came home around 10:30pm (Singapore Time) and I was stopped out with 5pips gain. Dammit! The high was like 6pips away from my target profit! Arggghhh!!! Anyway, it is ok, 5pips gain is still a winning trade! Hahaha!!! So this week, amounts to 585pips profit :P Hehehe...

Anyway, 10pm candle finished with a strong rejection below and I placed a pending order to long this pair at the price line of 238.95. I was filled within seconds again at 11:01pm. the 11pm candle was giving me a little bit of a creep but it ends with rejection again below.

12:00am (Singapore Time) candle, is looking good and it has gave me enough room to shift my stop loss to 5pips above entry again :) I have since shifted my stop loss at 239.00 with target profit at 241.40, near to my resistance level in my Daily chart.

Let's see how it goes.

Peace and trade safely everyone...

My GBP/JPY Trade (31-10-2007) - Update

*Attached chart. Click on it for the enlarged version.

Hello people. Watching the movements upon the USD's interest rate release is really testing the balls of steel technique.

My GBP/JPY was moving like so the fuc*@#g fast and FXCM was having miss quotes! Hahaha!!! Can never see this on the majors! Hahaha! My P/L was like having some figures, then zero, then some figures, then zero! Hahaha!!! I was really holding my balls man and my TP has just got hit at the price line of 239.60 at 2:40am (Singapore Time).

180pips for today which totals to 580pips for this week! Hahahaha!!! Wooooohoooooo!!!!

Peace and trade safely everyone...

My GBP/JPY Trade (31-10-2007)

*Attached chart. Click on it for the enlarge version.

Hi guys. How is everyone doing? Couple of hours left till the USD's Interest Rate Announcement :P Hehehe! It is 12:40am (Singapore Time) now and I am damn sleepy but I can't sleep :P Hahaha!!!

Anyway, today. I didn't trade the Majors because of the confusion of market due to the extreme weakening of the USD, I was looking at crosses today and it is my favourite tiger, the GBP/JPY.

Did three trades on this bugger. The first one was at 12:40pm (Singapore Time), I went in to short it at the price line of 237.40. But at the end of the 1:00pm candle, a strong rejection was formed so I manually closed it at 237.36 and that is 4pips gain.

During the 2:00pm (Singapore Time) candle, another strong rejection and I went in a long position at the price line of 237.45. The blooper on this trade was that, my target profit is at 239.60 which is my resistance level in my Daily chart but because I was in a hurry (to go toilet), I did a typo and my target profit was at 237.60 instead.

So I rush to the toilet and meet Louey and had a good pee pee and when I came back, I found out that I had no open position, I checked my account and the trade was closed at 237.60 (my typo target profit error) with 15pips gain! ARGGGGGHHH! Dammit! One of the times that I was actually mad with my little Johnny. Hahaha!

So I waited for awhile and the price broke through my resistance at 237.70 (which was my target profit based on my previous analysis), then I placed a pending order to buy at the price line of 237.80. I was filled in like seconds at 3:55pm (Singapore Time) :P Hahahaha!!!

Now, the trade is still open and my target profit at 239.60 and stop loss has already been shifted to my entry price. Let's see how it goes. Price now is like inches away from my target profit.

Peace and trade safely everyone...