My USD/JPY Trade (20-09-2007)

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

Hello people. USD is really getting whacked upside, downside, sideways and all over the sides :P Hahaha!!! EUR/USD broke through the 1.4000 price line.

Anyway, today, I was looking at the USD/JPY. What attracted me to this particular pair was that I saw the Double-Top being formed and it is slowly crumbling right after. I was looking for any reason to initiate a trade on the downside.

Upon approaching 1:00pm(Singapore Time), market died for awhile and 1:00pm candle broke down. 2:00pm(Singapore Time) was my confirmation but I was still hesitant. I then initiated a short position on this pair at 3:20pm(Singapore Time), price line of 115.47. My stop loss at 115.75, target profit at 114.80(Near to the 200ma in my Hourly chart and 10ma in Daily chart).

My target profit was triggered at 10:25pm(Singapore Time). 67pips profit for this trade.

Peace and trade safely everyone :)

Dollar Recovery from Fed's Rate Cut. (20-09-2007)

Hi guys! Something to share with, for reading purposes :)

The dollar today pared its loss from the Fed’s aggressive rate cut as investors believe the rate cut will help the US economy. The currency fell sharply yesterday after the Feds slashed USD's interest rates by 0.50% yesterday.

US equities gained further today with the Dow Jones Industrial Average rose 76.17 to 13,815.56 and the Standard & Poor’s 500 index rose 9.25 to 1529.03 at 4:15 pm. The rally in stock market stimulates carry trades modestly. The yen weakened to above the 116 level against the dollar.

The euro failed to extend beyond the record high at 1.3687 set on as traders sold the euros to protect option bets at 1.40 against the dollar. The pair consolidates in range between 1.3940 and 1.3987.

Earlier in the US session, a bunch of inflation and housing reports came out weaker than expected, supporting the rate cut yesterday. US CPI declined 0.1% in August, below the estimate of an unchanged reading. Excluding food and energy, core CPI rose 0.1%, less than the estimate of 0.2%. US housing starts dropped 2.6% to an annual rate of 1.33 million units in August, while building permits fell 5.9% to 1.307 million units.

Later tonight, 8:30pm (Singapore Time) we will see USD unemployment claims, 10:00pm (Singapore Time) Uncle Bernanke is speaking and at 12:00am (Singapore Time) Philadelphia Fed Manufacturing Index.

The sterling was still under pressure from the liquidity problem in UK banking system due to subprime issue. After Northern Rock was bailed out last week, the Bank of England announced today to allow commercial banks to use mortgages as collateral to borrow via three-month repos. The sterling fell off the high at 2.0172 set Tuesday to the key level at 2 versus the dollar.

EURUSD will face interim resistance at 1.40, followed by 1.4020 and 1.4050. Additional ceilings will emerge at 1.4080, backed by 1.41. Support starts at 1.3950, backed by 1.3930, 1.39 and 1.3880. Subsequent floors are eyed at 1.3850.

USDJPY encounters interim resistance at 116.30, backed by 116.50 and 116.80. Subsequent ceilings will emerge at 117, followed by 117.30 and 117.50. On the downside, support begins at 116 and 115.70, followed by 115.50. Additional floors are eyed at 115.30, backed by 115 and 114.70.

GBPUSD encounters interim resistance at 2.0030, backed by 2.0070 and 2.01. Subsequent ceilings will emerge at 2.0140, followed by 2.0170 and 2.02. On the downside, support begins at 2, followed by 1.9980 and 1.9950. Additional floors are eyed at 1.9930, backed by 1.99 and 1.9870.

My GBP/USD Trade (19-09-2007)

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

Greetings people. Today, I was kind of forcing myself to be patient with the market :P It seriously started off slow today and I have to trade with a clear mind after my trade last night on the EUR/USD :P Hahaha!!!

Anyway, today, I was analysing the EUR and the GBP and I saw that the GBP was weaker compared to the EUR. At 3:00pm (Singapore Time), the candle was forming into a big downclose candle, a big bearish engulfing! I initiate a scalping short position on the GBP/USD at the price line of 2.0101 at 3:40pm (Singapore Time). Target profit at 2.0060 (23ma at the point of time) and stop loss at 2.0121. Risk reward ratio of around 1:2.

My target profit was triggered at 4:40pm (Singapore Time) with a profit of 41pips for this trade while I was at Singapore Post Office :)

Peace and trade safely everyone...

My EUR/USD Trade (19-09-2007)

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

Hello people. My biggest trade today. You may call it a crazy trade as well. I was planning not to initiate any trade before the Fed's announcement on USD's Interest Rate Statement at 2:15am (Singapore Time).

But let me tell you the story, I can't sleep due to my stupid flu and my blocked nose. Irritating the crap out of me. So I was looking at the charts and I saw something really beautiful and I just can't help it.

EUR is definately having some strength against the USD and at the end of 11:00pm (Singapore Time), it formed into a doji. Taking into consideration that at 8:00pm (Singapore Time), it jumped a little followed by tiny down close at 9:00pm (Singapore Time) and 10:00pm (Singapore Time).

I just couldn't help it but initiate a long position at the price line of 1.3870 at the beginning of the 12:00am (Singapore Time) candle. I am not trading the news but the signal was just so beautiful and from 12:00am (Singapore Time), I was looking at the charts like a hawk till my nose became unblocked due to my heart rate pumping so fast :P Hahahaha!!!

Since the first immediate resistance level is at 1.3920, I put my target profit at 1.3970 (It is my next immediate resistance level based on my own analysis) and stop loss at 1.3855. I was looking at it very closely and here comes 2:15am (Singapore Time). I tell you, watching the market move was like looking at fireworks. I was so excited that I almost forgot that I had an open position. My apologies to those trader friends that I was continuosly message and bugging them while the market moved :P Hahaha!!!

Anyway, to cut my long story short, my target profit was triggered with 100pips profit and that is US$1000 based on 10mini lots. Just a word of caution, this kind of trade is not good for the faint hearted :P Before I end, the FED's actually took a rate cut till 4.75% from their previous interest rate of 5.25%. Thank you market for showing me an early signal to enter :P Hahaha! Wooohoooo!!!

Peace and trade safely everyone...

My EUR/JPY Trade (18-09-2007)

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

Hi guys. One of my trades today, this one is on the crosses, the EUR/JPY. Initiated this trade at 2:50pm (Singapore Time). I saw that there was a good support at the price line of 158.79 and the candle bounce after it touches that price line. So I went in for a range trade.

I initiated a long position at the price line of 159.09. Stop loss at 158.80 and target profit at 159.60. My target profit was hit at around 4:35pm (Singapore Time). That's a 51pips profit for this trade :)

Peace and trade safely everyone...

Global Events Calendar [17-09-2007] - [21-09-2007]

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

----------------------------------------------------------------------
Global Events Calendar [17-09-2007] - [21-09-2007]
----------------------------------------------------------------------

Monday [17-09-2007]
[Whole Day Event]---JPY Holiday: Respect-for-the-Aged Day
7:00am--------------USD Alan Greenspan Speaks
12:00pm-------------USD Alan Greenspan Speaks
2:50pm--------------USD Treasury Secretary Paulson Speaks
5:00pm--------------EUR Trade Balance
8:30pm--------------USD Empire State Business Conditions Index
11:00pm-------------CHF SNB Chairman Roth Speaks

Tuesday [18-09-2007]
12:45am--USD Treasury Secretary Paulson Speaks
7:50am---JPY Tertiary Industry Activity Index m/m
9:00am---USD Alan Greenspan Speaks
3:15pm---CHF Industrial Production q/q
4:30pm---GBP CPI y/y
4:30pm---GBP Core CPI y/y
4:30pm---GBP RPI y/y
5:00pm---EUR German ZEW Economic Sentiment
5:00pm---EUR ZEW Economic Sentiment
8:30pm---USD PPI m/m
8:30pm---USD Core PPI m/m
9:00pm---USD TIC Net Long-Term Transactions

Wednesday [19-09-2007]
[Time Unknown]---JPY Interest Rate Announcement
[Time Unknown]---JPY BOJ Governor Fukui Speaks
1:00am-----------USD NAHB Housing Market Index
2:15am-----------USD Interest Rate Statement
2:00pm-----------EUR German PPI m/m
3:15pm-----------CHF Retail Sales y/y
4:30pm-----------GBP MPC Meeting Minutes
8:30pm-----------USD CPI m/m
8:30pm-----------USD Core CPI m/m
8:30pm-----------USD Housing Starts
8:30pm-----------USD Building Permits
10:30pm----------USD Crude Oil Inventories

Thursday [20-09-2007]
7:50am---JPY BSI Large Manufacturing Conditions q/q
1:30pm---EUR ECB President Trichet Speaks
2:15pm---CHF Trade Balance
3:00pm---JPY BOJ Governor Fukui Speaks
3:15pm---CHF PPI m/m
4:00pm---EUR Italian Unemployment Rate
4:30pm---GBP Retail Sales m/m
4:30pm---GBP Public Sector Net Borrowing
4:30pm---GBP M4 Money Supply m/m
4:30pm---GBP BSA Mortgage Approvals
5:00pm---CHF ZEW Expectations
6:00pm---GBP CBI Industrial Trends Orders
8:30pm---USD Unemployment Claims
10:00pm--USD Fed Chairman Bernanke Speaks
10:00pm--USD Leading Index m/m

Friday [21-09-2007]
12:00am--USD Philadelphia Fed Manufacturing Index
7:50am---JPY All Industries Activity Index m/m
4:00pm---EUR Current Account
4:00pm---EUR Manufacturing PMI (p)
4:00pm---EUR Services PMI (p)
5:00pm---USD Fed Governor Mishkin Speaks
8:00pm---USD Fed Governor Kohn Speaks
11:00pm--EUR ECB President Trichet Speaks
11:00pm--CHF SNB Chairman Roth Speaks

[After Friday's Mid-night]
1:00am---USD Fed Governor Warsh Speaks

----------------------------------------------------------------------

EUR ECON: Italian July IP -0.4%m/m vs. Revised -0.6% In June

Italian SA industrial production recorded another fall in July by 0.4% m/m against market expectations of a rise by 0.3%. Annually it declined by 0.5%. The dip follows already very poor data published for June with production falling by 0.6% m/m (revised) and 0.1% y/y.

ISTAT reported a fall in intermediate and energy goods by 1.5% and 0.5% respectively which drove the fall in industrial production. As expected consumer goods were up 0.5% in July after dipping in June by 1.8%. Note that there were 22 working days in July 2007 against 21 the same month last year.

FX OPTIONS: More High Strike EUR/USD Barrier Options

A few more high strike EUR/USD barriers were put on in London and New York market Thursday. These include 27 August 1.4600 One Touch, which traded 41.5 vs TV 46.75 on a EUR 5mln Payout. Closer in - a 15 Nov 1.4300 One touch traded 34.75 vs TV 37.5 on EUR 4mln payout. 1.4000 remains a massive barrier level - with more than EUR 20mln expiring late next week alone, with plenty more to follow over next few months.

USD/JPY: Credit Squeeze Again Filters Through To the Yen Pairs

A swift 100-point drop in USD/JPY overnight as news of BoE emergency lending hit the screens. GBP/JPY tumbled from 234.80 highs to 231.10 with stops tripped all the way from 234.00 through 232.00.

The cross eventually based and a short squeeze through late Asia provided Europe with better selling levels. This move for the cross was mirrored by the spot market with USD/JPY peaking at 115.50 and basing at 114.50.

Japanese investment accounts have again been busy on the buy side and were reportedly picking up good amounts of Dollars from 114.55-60. The Dollar has climbed back above 115.00 and is again looking to test the resolve of option related offers, which are reportedly mixed in with exporter and Asian speculative sellers.

A small knock back from 115.39 has been seen as London players get their chance to react to the Northern Rock news. The Market is looking like 114.50 to 115.50 with the 115.00 level likely to attract and pivot price ahead of the North American session.

My EUR/JPY Trade (13-09-2007).

*Click on the picture for the enlarge version.

Hi guys. Today, I was looking at the EUR/JPY. Actually, I was looking at all the four majors but I feel a little adventurous today, want to feel some crosses today.

At 4pm(Singapore Time), I initiated a long position at the price line of 159.26. Why did I want to buy? Because the 3pm(Singapore Time) candle broke out of the consolidation. So I went in to buy with target profit at 159.60(High of 31st August) and stop loss at 159.00(6ma in 15mins chart).

My target profit was hit at 5:19pm(Singapore Time) at a profit of 34pips :)

My EUR/USD Trade (12-09-2007)

*Click on the chart for the enlarge version.

Hi guys. Market has been a total jerk nowadays after the run from last week's USD Non-Farm Payroll.

Nonetheless, so far, I have only have made short trades this week. Didn't dare to keep a long one. Today, one of my short trades on the EUR/USD. Initiated the trade at 1:00pm (Singapore Time). What I saw was at 12:00pm (Singapore Time) candle formed into a mini bullish engulfing and plus sentiments that I saw from the last two days is that the EUR is execptionally strong against the USD, just refusing to go down and climbing up slowly.

I went in for a long position at the opening of the 1pm (Singapore Time) candle at the price line of 1.3846. My target profit was at 1.3870 and stop loss at 1.3836. My target profit was hit at 1:22pm (Singapore Time) with a profit of 24pips. That is US$240 based on 10 mini lots.

Global Events Calendar [10-09-2007] - [14-09-2007]

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

----------------------------------------------------------------------
Global Events Calendar [10-09-2007] - [14-09-2007]
----------------------------------------------------------------------

Monday [10-09-2007]
7:50am---JPY GDP q/q (r)
7:50am---JPY GDP Deflator y/y (r)
7:50am---JPY M2+CD Money Supply y/y
1:00pm---JPY Eco Watchers Survey
2:45pm---EUR French Industrial Production m/m
4:30pm---GBP PPI Input m/m
4:30pm---GBP PPI Output m/m
8:30pm---USD Atlanta Fed President Lockhart Speaks

Tuesday [11-09-2007]
3:00am---USD Consumer Credit m/m
7:30am---USD Fed Governor Mishkin Speaks
7:50am---JPY Core Machinery Orders m/m
2:00pm---EUR German WPI m/m
2:45pm---EUR French Trade Balance
4:30pm---GBP Trade Balance
8:30pm---USD Trade Balance
9:00pm---EUR ECB President Trichet Speaks
10:30pm--GBP Leading Index m/m
11:00pm--USD Fed Chairman Bernanke Speaks

Wednesday [12-09-2007]
7:50am---JPY Current Account
7:50am---JPY CGPI y/y
1:00pm---JPY Household Confidence
4:30pm---GBP Average Earnings Index +Bonus q/y
4:30pm---GBP Claimant Count Change
4:30pm---GBP Unemployment Rate
5:00pm---EUR Labor Cost Index q/q
5:00pm---EUR Industrial Production m/m
10:30pm--USD Crude Oil Inventories

Thursday [13-09-2007]
7:01am---GBP RICS House Price Balance
2:45pm---EUR French Nonfarm Employment q/q (r)
2:45pm---EUR French CPI m/m
8:00pm---CHF Interest Rate Statement
8:30pm---USD Unemployment Claims

Friday [14-09-2007]
12:30pm--JPY Industrial Production m/m (r)
2:00pm---EUR German CPI m/m (r)
4:00pm---EUR Italian Industrial Production m/m
5:00pm---EUR CPI m/m (r)
8:30pm---USD Retail Sales m/m
8:30pm---USD Core Retail Sales m/m
8:30pm---USD Current Account
8:30pm---USD Import Price Index m/m
9:15pm---USD Industrial Production m/m
9:15pm---USD Capacity Utilization Rate
10:00pm--USD Consumer Sentiment (p)
10:00pm--USD Business Inventories m/m

----------------------------------------------------------------------

A good trader's heart.

*Click on the picture for a bigger version

I met him through Momentum Asia. He is one of my fellow Momentum Traders graduates and I am honoured to have met him in my life :)

Global Events Calendar [03-09-2007] - [07-09-2007]

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

----------------------------------------------------------------------
Global Events Calendar [03-09-2007] - [07-09-2007]
----------------------------------------------------------------------

Monday [03-09-2007]
[Whole Day Event]---USD Holiday: Labor Day
7:50am--------------JPY Capital Spending q/q
9:30am--------------JPY Average Cash Earnings y/y
3:30pm--------------CHF SVME PMI
3:55pm--------------EUR German Manufacturing PMI
4:00pm--------------EUR Manufacturing PMI (r)
4:30pm--------------GBP Manufacturing PMI

Tuesday [04-09-2007]
7:01am---GBP BRC Retail Sales Monitor y/y
7:50am---JPY Monetary Base y/y
1:45pm---CHF GDP q/q
4:00pm---EUR Italian Trade Balance
4:30pm---GBP Construction PMI
5:00pm---EUR PPI m/m
5:00pm---EUR GDP q/q (r)
10:00pm--USD ISM Manufacturing Index
10:00pm--USD ISM Manufacturing Prices
10:00pm--USD Construction Spending m/m

Wednesday [05-09-2007]
[Time Unknown]---USD Domestic Vehicle Sales
7:01am-----------GBP Consumer Confidence Index
3:55pm-----------EUR German Services PMI
4:00pm-----------EUR Services PMI (r)
4:30pm-----------GBP Services PMI
5:00pm-----------EUR Retail Sales m/m
5:30pm-----------GBP BRC Shop Price Index y/y
8:15pm-----------USD ADP Nonfarm Employment Change
10:00pm----------USD Pending Home Sales m/m

Thursday [06-09-2007]
2:00am---USD Beige Book
1:45pm---CHF Unemployment Rate
2:00pm---JPY Machine Tool Orders y/y
4:30pm---GBP Industrial Production m/m
4:30pm---GBP Manufacturing Production m/m
6:00pm---EUR German Factory Orders m/m
7:00pm---GBP Interest Rate Statement
7:45pm---EUR Interest Rate Announcement
8:30pm---USD Nonfarm Productivity q/q (r)
8:30pm---USD Unit Labor Costs q/q (r)
8:30pm---USD Unemployment Claims
8:30pm---EUR ECB President Trichet Speaks
10:00pm--USD ISM Non-Manufacturing Index
10:00pm--USD ISM Non-Manufacturing Prices
10:30pm--USD Crude Oil Inventories
11:30pm--USD Fed Governor Kroszner Speaks

Friday [07-09-2007]
12:00am--USD St. Louis Fed President Poole Speaks
7:01am---GBP NIESR GDP Estimate
1:00pm---JPY Leading Index m/m
2:00pm---EUR German Trade Balance
2:45pm---EUR French Government Budget Balance
3:30pm---EUR ECB President Trichet Speaks
6:00pm---EUR German Industrial Production m/m
6:00pm---EUR Composite Leading Indicators m/m
8:30pm---USD Nonfarm Employment Change
8:30pm---USD Unemployment Rate
8:30pm---USD Average Hourly Earnings m/m
10:00pm--USD Wholesale Inventories m/m

----------------------------------------------------------------------

My EUR/USD Trade (28-08-2007)

*Attached picture is my EUR/USD hourly chart. (Click for a bigger version)

Hello people :) Market started slow this week and it barely move when market opens on Monday due to GBP's Summer Banks Holiday. So Tuesday, I was expecting market to move and also my fingers are getting very itchy :P Hahahaha!!!

From my charts that I've attached to this post, you can see that I made two trades yesterday. The first one, I shorted the EUR/USD at the price line of 1.3631 at around 10:17am. I thought I might be able to be in the money by 4pm data release. I think there was leakage of news and market moved due to fundamentals before 4pm and stopped me out at my stop loss of 20pips. Was I sad? Nah! I was more excited to look at the market than be in tears over my bad trade :)

I continued on looking at the market, very closely this time round. I was expecting this jump in the EUR/USD to get exhausted because runnin of fundamentals cannot be sustained that long. The immediate resistance for yesterday was around 1.3680. During 6pm candle, I was looking at it moving and it cannot clear the price line of 1.3680.

I was very lucky yesterday because of one reason, I was waiting for my girlfriend to go out for dinner and guess what, she is stuck in a traffic jam! Whahahaha!!! That gave me a little bit more window to see the 7pm candle movement :P Hehehe! I looked at how the market was behaving at 7pm. I looked at it super duper closely. Then I decide to initiate a trade on the downside, I shorted EUR/USD at the price line of 1.3667. My stop loss at 1.3690 (23pips) and target profit at 1.3570 (97pips).

Some of you might be wondering why my target profit is at 1.3570, a profit of 97pips. 1.3570 is a little bit above the 10ma in the Daily charts and the opening on the (24-08-2007). I told my Big Daddy yesterday that if I am looking to short the EUR/USD, I will be looking at this price line for my target profit.

My girlfriend came at about 7:30pm, complaining about how bad the traffic jam was, due to a bus had broken down or something like that and bla bla, went for dinner and I got home at around 10pm. I opened my charts and I'm in the money. Considering at 2am there is a data release on the FOMC meeting minutes, I was watching the market like a hawk, I do not want another incident of my earlier trade to happen again. So I was watching and watching and there comes 1am, market looks calm and good and then comes 2am, market is still calm and good and then comes 3am, market is still calm and good and I decide to keep the trade running and went to sleep.

I woke up at today and BOOM! My target profit has been hit at 8:15am this morning at a profit of 97pips. So this week, my profit so far is 97pips - 20pips(My stopped out trade that I mentioned earlier) = 77pips. Not bad for the week :) 30pips more to reach my target for the week :)

Peace and trade safely everyone :)

Global Events Calendar [27-08-2007] - [31-08-2007]

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

----------------------------------------------------------------------
Global Events Calendar [27-08-2007] - [31-08-2007]
----------------------------------------------------------------------

Monday [27-08-2007]
[Whole Day Event]---GBP Holiday: Summer Bank Holiday
9:00pm--------------EUR ECB President Trichet Speaks
10:00pm-------------USD Existing Home Sales

Tuesday [28-08-2007]
7:50am-----------JPY Monetary Policy Meeting Minutes
4:00pm-----------CHF Consumption Indicator
4:00pm-----------EUR German Ifo Business Climate Index
4:00pm-----------EUR German Ifo Business Expectations Index
4:00pm-----------EUR M3 Money Supply y/y
4:30pm-----------GBP BBA Mortgage Approvals
10:00pm----------USD Consumer Confidence
10:00pm----------USD Richmond Fed Index
[Time Unknown]---EUR German CPI m/m (p)

Wednesday [29-08-2007]
2:00am---USD FOMC Meeting Minutes
2:00pm---EUR German Consumer Confidence
5:30pm---CHF Leading Index m/m
10:30pm--USD Crude Oil Inventories

Thursday [30-08-2007]
7:50am---JPY Retail Sales y/y
7:50am---JPY Large Retailers' Sales y/y
2:00pm---GBP Nationwide House Prices m/m
3:55pm---EUR German Unemployment Rate
4:00pm---EUR Italian Retail Sales m/m
4:30pm---GBP Mortgage Approvals
4:30pm---GBP Net Lending to Individuals m/m
6:00pm---GBP CBI Distributive Trades Realized
8:30pm---USD GDP Annualized q/q (r)
8:30pm---USD GDP Deflator Annualized q/q (r)
8:30pm---USD Unemployment Claims
10:00pm--USD House Price Index q/q

Friday [31-08-2007]
7:30am---JPY Core CPI y/y
7:30am---JPY Tokyo CPI y/y
7:30am---JPY Core Tokyo CPI y/y
7:30am---JPY Manufacturing PMI
7:30am---JPY Overall Household Spending y/y
7:30am---JPY Unemployment Rate
7:50am---JPY Industrial Production m/m (p)
1:00pm---JPY Housing Starts y/y
1:45pm---CHF CPI m/m
2:00pm---EUR German Retail Sales m/m
5:00pm---EUR CPI y/y (p)
5:00pm---EUR Unemployment Rate
5:00pm---EUR Italian CPI m/m
5:00pm---EUR Consumer Confidence
5:30pm---GBP Consumer Confidence
8:30pm---USD Core PCE Price Index m/m
8:30pm---USD Personal Spending m/m
8:30pm---USD Personal Income m/m
9:45pm---USD Chicago PMI
10:00pm--USD Factory Orders m/m
10:00pm--USD Consumer Sentiment (r)
10:00pm--USD Fed Chairman Bernanke Speaks

----------------------------------------------------------------------

My USD/JPY Trade (23-08-2007)

*Attached picture is the USD/JPY (Hourly Charts). Click on it for a bigger version.

Hello people. My trade today with the USD/JPY. I saw the momentum of this pair of currency is a little bullish but sort of moving slowly. I wasn't confident enough to open a long (buy) position but what I saw today was that, this pair has broke my resistance at 200ma in the hourly charts and it is just sitting down there.

Ok, I admit, I used a little bit of fundamentals to gain further confidence upon initiating this particular trade. Found out around noon time (SG Time) that BOJ's Fukui is going to speak at around 2:30pm (SG Time).

I initiated a long (buy) position at around 2:39pm (SG Time) at the price line of 115.86 with stop loss at 115.50 and my target profit at 117.00. I was watching the market very closely to see if there is any chance to show that it will not go my way. Suddenly, at 5pm (SG Time), it jumped and my target profit was hit at 117.00 at 6:16pm (SG Time). Profit of 114pips for today (23-08-2007).

Posting of my trades...

Hello fellow readers of ForexNewsPaper.blogspot.com. I will be starting to post most of my trades here in my blog :) The decision was made when one of my mentors in trading told me that I should be posting my trades here online to share with a broader audience base :) So, look out for most of my trades here :)

Global Events Calendar [20-08-2007] - [24-08-2007]

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

----------------------------------------------------------------------
Global Events Calendar [20-08-2007] - [24-08-2007]
----------------------------------------------------------------------

Monday [20-08-2007]
7:01am---GBP Rightmove House Price Index m/m
3:15pm---CHF PPI m/m
4:30pm---GBP Public Sector Net Borrowing
4:30pm---GBP M4 Money Supply m/m
10:00pm--USD Leading Index m/m

Tuesday [21-08-2007]
7:50am---JPY All Industries Activity Index m/m
5:00pm---EUR German ZEW Economic Sentiment
5:00pm---EUR ZEW Economic Sentiment
5:00pm---EUR Trade Balance

Wednesday [22-08-2007]
7:50am---JPY Trade Balance
4:00pm---EUR Current Account
5:00pm---EUR Industrial New Orders m/m
6:00pm---GBP CBI Industrial Trends Orders
10:30pm--USD Crude Oil Inventories

Thursday [23-08-2007]
[Time Unknown]---JPY Interest Rate Announcement
[Time Unknown]---JPY BOJ Governor Fukui Speaks
2:00pm-----------EUR German GDP q/q (r)
2:15pm-----------CHF Trade Balance
3:15pm-----------CHF Employment Level
4:30pm-----------GBP Business Investment q/q (p)
5:00pm-----------CHF ZEW Expectations
8:30pm-----------USD Unemployment Claims

Friday [24-08-2007]
7:50am---JPY CSPI y/y
2:00pm---EUR German Import Price Index m/m
4:00pm---EUR Manufacturing PMI (p)
4:00pm---EUR Services PMI (p)
4:30pm---GBP GDP q/q (r)
4:30pm---GBP Index of Services 3m/3m
8:30pm---USD Durable Goods Orders m/m
8:30pm---USD Core Durable Goods Orders m/m
10:00pm--USD New Home Sales

----------------------------------------------------------------------

Global Events Calendar [13-08-2007] - [17-08-2007]

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

----------------------------------------------------------------------
Global Events Calendar [13-08-2007] - [17-08-2007]
----------------------------------------------------------------------

Monday [13-08-2007]
7:50am---JPY GDP q/q (p)
7:50am---JPY GDP Deflator y/y (p)
7:50am---JPY Current Account
2:00pm---EUR German WPI m/m
4:30pm---GBP PPI Input m/m
4:30pm---GBP PPI Output m/m
8:30pm---USD Retail Sales m/m
8:30pm---USD Core Retail Sales m/m
8:30pm---USD Business Inventories m/m
10:30pm--GBP Leading Index m/m

Tuesday [14-08-2007]
7:01am---GBP RICS House Price Balance
7:50am---JPY Tertiary Industry Activity Index m/m
2:00pm---EUR German GDP q/q (p)
2:40pm---EUR French GDP q/q (p)
2:45pm---EUR French CPI m/m
4:30pm---GBP CPI y/y
4:30pm---GBP Core CPI y/y
4:30pm---GBP RPI y/y
5:00pm---EUR GDP q/q (p)
5:00pm---EUR Industrial Production m/m
8:30pm---USD PPI m/m
8:30pm---USD Core PPI m/m
8:30pm---USD Trade Balance

Wednesday [15-08-2007]
3:15pm---CHF Retail Sales y/y
4:30pm---GBP MPC Meeting Minutes
4:30pm---GBP Average Earnings Index +Bonus q/y
4:30pm---GBP Claimant Count Change
4:30pm---GBP Unemployment Rate
8:30pm---USD CPI m/m
8:30pm---USD Core CPI m/m
8:30pm---USD Empire State Business Conditions Index
9:00pm---USD TIC Net Long-Term Transactions
9:15pm---USD Industrial Production m/m
9:15pm---USD Capacity Utilization Rate
10:30pm--USD Crude Oil Inventories

Thursday [16-08-2007]
1:00am---USD NAHB Housing Market Index
2:00pm---EUR German CPI m/m (r)
4:30pm---GBP Retail Sales m/m
5:00pm---EUR CPI y/y (r)
8:30pm---USD Housing Starts
8:30pm---USD Building Permits
8:30pm---USD Unemployment Claims

Friday [17-08-2007]
12:00am--USD Philadelphia Fed Manufacturing Index
2:00pm---EUR German PPI m/m
2:45pm---EUR French Nonfarm Employment q/q (p)
9:00pm---USD St. Louis Fed President Poole Speaks
10:00pm--USD Consumer Sentiment (p)

----------------------------------------------------------------------