What's In Your Wallet?

The past few weeks have been great in the Forex Markets... If you're a good trader (lol). So recently We've seen movement across all regions especially the European markets and US. I want to take some time to look over a few pairs from a range of regions around the world to give my Forex Traders a birds eye view of where the money is and how to get to it.

USDJPY:
After weeks of beautiful buying right to our target of 110.000 this pair has now backed off in the most interesting way. No heavy selling but a steady grind lower; My idea is that this pair is falling to support at 107.000 before it takes off towards 115.000. Indicators are telling us that the price wants to take a turn for the worst but we must be patient and hold on to our long from 105.000 until we see that the bears truly want to destroy everything we've built.

 From this 240min chart above we can see that the pair has consolidated quite a bit but has moments of serious volatility which we can benefit from but must ultimately be cautious of. Buy more at 107.000 if it holds but be ready to close early if it doesn't. Try again at 105.000.

GBPUSD:

Has been a retail market murderer. The banks did a classic dramatic sell off and now all the small (dumb) money traders think its in a down trend...check your monthly charts. With that being said I'm heavily bullish. This pair has created a nice uptrend that started at the beginning of this month. it has made higher highs and higher lows. It reached a high of 1.62250 which alerted me to start paying attention. Fortunately there's been a pullback to its support at around 1.60400 which has held 3X's so far. On 10/11 the pair reached a low touching the weekly chart's 50% fib level and then turned around for a beautiful march into Sunday (10/12) Asian Session trading. Today it respected a bit of resistance at 1.61200 and also intra-day support at 1.60500 LMAO. See what I mean. Up and down, up and down is the story this pair is telling.

 We need to see 1.61500 taken so we can see 1.62000 taken so we can officially say this downtrend leg is over and we can continue with our monthly uptrend. Start looking to build your long positions. 

EURUSD:

This pair looks like it's finally coming out of its downtrend and ready to move on to bigger and better prices. From a daily chart perspective we can see that the pressure to the downside is still very relevant but I'm not fooled by the NY and European Traders' antics. They've reached their price target (Profit taking Fibonacci Level) and today the traders overtook 1.26650 resistance so I'm looking to build early long positions here. From 1.26650 with some caution for the downside play. 

EURGBP: 

This pair is looking similar to EURUSD. With a long standing downtrend in its way a lot of traders don't see any upswing in this pairs future. From my daily chart below I see something different; this pair is crossing over its into buy territory on the RSI indicator...and this indicator is lagging.

 Today the pair broke its resistance with a strong bullish candle. I see this pair moving higher shortly. My idea here is to buy from the resistance in hopes of it acting as support now for a stronger and bigger move higher. 

Last but not least,

GBPJPY:

Having a nice selling period as traders take profits and look for better prices to buy from. On a 240min chart we can see that this pair is ready for a stronger move lower which is where the GBP bears will get their chance to sell but they better do it quickly. This pair is approaching an important support line at 171.644 which is just above the gap-up from September. If this isn't held sellers have a second target at just below 171.000. All These prices are good places for buyers to consider their orders. I know these are contrary ideas but the markets are giving us signs of multiple opportunities and only 1 will be immediately correct... 

Pick-A-Side. 

Coming Soon: For Those Who Are Serious About Trading

Coming Soon...

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The ECB Effect

So the ECB posted its rate announcement today and it was...to say the least; BORING. They didn't change anything actually but there was a reaction. Lets go over how the most relevant currency pairs reacted. Highlighted in blue is a two-day view of the pairs price along with its High and Low between the two days.

EURUSD

Has been falling steadily for over 30 days straight pretty much but yesterday it was pretty much congested and stuck in a range just before the end of the day when it consolidated; which is expected before news. What Most people didn't expect and what I predicted was the bounce in this pair. Contrary to the downtrend the market turned to the upside today. I know that banks and institutions use news for reasons to instigate sentiment and direction. This is what they did today. They sent the price all the way up to 1.26908 approx. 108 pips from yesterday's low of 1.25828. If we get a close above today's high/resistance(1.26650); we should see this pair turn to the upside for an extended period. The 60min chart below shows us what I'm talking about. Observe the RSI above 50 today... 

EURJPY

This pair has been on a downtrend as well but there is no rest for the weary when it comes to the Yen. Traders have been relentless in their pursuit to acquire yen for exchange for European Currencies. Monetary policies have created this atmosphere. Yesterdays high was met by a shooting start at 138.799. Towards the end of the day yesterday we saw our support of 138.00 broken, the pair slid into the London Session saw a new low of 136.947 and the price became congested around the time of the ECB Rate News; Leading me to believe the bank traders were simply trying to confuse the retail markets as well as get customer orders in before the price got away from them. Below on a 60min chart we can observe this behavior. 

EURGBP

So yesterday this pair fell but managed to pick itself up during the Asian Session and end the day just barely higher than it opened. Today was a completely different story. I wasn't sure when but I know there would be a bounce in this pair and boy oh boy did it bounce today. I knew this because of the consolidation without range I noticed on the 60min chart. Below on that same chart we can see the pair test a low of .77660 yesterday AND the day before that without breaking down. From there the pair used the new to bolster itself up to a high of .78497; passed the .78277 intra-week resistance. I see the tide turning for this pair and more positive days in its future. Below we can observe the RSI moving from below 50 to overbought in just 48 hours. Interesting. 

EURAUD

The Australian traders are giving the markets hell right now (lol). If you don't know anything about the Aussie traders and pairs I'll give you a bit of advice: Be early, because they move fast and often. This pair took a nice ladder up over the past few weeks and ended up going haywire in a realm of congestion just as it met new highs. Yesterday the pair failed to make a higher high (1.45609) and ended up falling dramatically. It ended the yesterday near its opening price and  roamed into today falling below its medium term support (1.44500) which looks like it could now serve a resistance. Today it has successfully made a lower low at 1.43447 and has began to retrace towards the aforementioned resistance test. Below we can observe the pair's RSI just above 50 but that seems to be the signal for the bears to come in and take control. 

Chic Shoes That Won't Hurt

So This week I clocked some dollars and manage to pull profits out of my NZDUSD trade and now I want to go shopping. But here's the problem. I can't decide on what I want to buy but the good news is that I've kind of narrowed it down. So I know I want sneakers and some polo shirts. Now I only wear Hugo Boss and Ralph Lauren shirts but my shoes can generally come from anywhere. SO I've piecked out a few different pairs of shoes and shirts and I want you all to tell which you like best of the options. Be sure to leave a comment on what you think and suggest!!
First up are shirts:
Hugo Boss Long Sleeved

Ralph Lauren Long Sleeved 

I personally like color in the colder months but the chicness of neutral colors sings to me in the most beautiful depressing voice. 

Ralph Lauren  Short Sleeved                                          

Hugo Boss Short Sleeved 

Again, I can't decide from the sleek neutral European look or the colorful American Style. Well next up we have sneakers. This should be Fun!! 

Buscemi  

Bottega Veneta

Bally

I can't even start to choose between these sneakers as they are all my favorite. Please help =( lol.

Low-Volatility - Swing Trades Pt. 1.3

So it's clear that today showed a lot of indecision in the EUR/USD. The pair stayed in a tight range all day but still below the 1.35 support that was broken yesterday. All the haters looking to fade the breakdown are about to be shaken out by the pros as they cause the maket to move sideways and erratic until the path is clear to either drop further or reverse and start marching up. As the buyers of 1.35 panic and start buying more to average their already losing poisons.. I mean positions, or they sell to get out of their losers, they'll push the mRket down lower and the institutions will most likely be really happy to take the orders. I'd sit on the sideline until the LONDON session to watch for bids towards the broken support to clean up lingering orders and to see if they might want to save everybody some time and just drop the pair a hundred pips or so to cause a free-fall. None-the-less be attentive tomorrow as today wasn't easy or helpful like yesterday and we might see some action that could really shift the market. 

PS: AT THE END OF THE WEEK I'LL BE ANNOUNCING SOME AWESOME NEWS SO TUNE IN FOLKS!!