Recent content by Sir Pipsalot

Hey guys. Sorry I just eventually faded off the radar. I keep track of the markets and all, but my naval career has really taken over my time and focus over the last couple of years and that's what I'm really pouring myself into right now. I'll definitely get back into teaching and trading forex...

Hey guys. Sorry I just eventually faded off the radar. I keep track of the markets and all, but my naval career has really taken over my time and focus over the last couple of years and that's what I'm really pouring myself into right now. I'll definitely get back into teaching and trading...

Quick EUR/USD Update 12-15: With the relatively uneventful FOMC yesterday and the subsequent reversal lower on EUR/USD, the stage is set for the EUR/USD downtrend to resume in force, so if you were waiting to short, now's the time at 1.3300 or above.

Hey folks, 1415 FOMC Interest Rate Statement - There's no chance for a change in interest rates here, so the market is set to respond to the language of their statement including their economic outlook and any potential modifications to the QE2 package announced at the last meeting. With...

Quick EUR/USD update 12-14: We saw a rally and clear break up through the top of the wedge for a breakout long, but it looks a lot more like a short squeeze to me than a reversal. I expect as the week pushes on that the rally will fizzle and turn lower, so it's a good price to sell into the...

EUR/USD analysis (tipping point) Update Sunday 12-12-2010: Right now the EUR/USD is coiled up pretty tightly after last week's rangebound action. We've sold off from the 1.3280-1.3380 sell range from last week (now 1.3197) and have worked into a wedge on the hourly chart. A break to the...

Update to 12-2 analysis (resells entering) posted on 12-6: Looks like we worked well into my sell region ("1.3280 to 1.3380 range, but possibly as high as 1.3470") here on Friday and Sunday/Monday topping out around 1.3430 late Friday. It's now showing signs of reversal and is a clear long...

EUR/USD analysis (profit taking and resell setup) from 12-2: I've continued to track this move on the EUR/USD and believe it may be setting up for a good "sell on rally" type opportunity here in this retracement phase. For those who missed the short trade I entered around 1.3750 last...

EUR/USD analysis (trade setup) from 11-15-2010: It looks like the EUR/USD played out post-FOMC like I had suspected all along... it turned into a selloff. The initial rally afterwards was indeed shortlived, and the EUR/USD looks poised for a more substantial selloff even after the 500-600...

Hey folks, Instead of having new threads with every update, since I most closely follow the EUR/USD, I will keep all EUR/USD thread analysis in this thread and update it when needed. This is mainly for medium to longer term trades, but short term stuff comes up as well. My analysis from...

Looks like we worked well into my sell region ("1.3280 to 1.3380 range, but possibly as high as 1.3470") here on Friday and Sunday/Monday topping out around 1.3430 late Friday. It's now showing signs of reversal and is a clear long term sell here in the low to mid 1.3300's as I highlighted last...

Hey folks, My market outlook for EUR/USD from yesterday is unchanged, so for trend insight, see my previous signal. This update is just for Friday's upcoming news. 0428 UK Services PMI (53.2 expected) - This one is usually pretty solid with about a 50% chance of extended follow-through...

Hey folks, I've been caught up the last couple of days tending to my sick baby daughter, but I've continued to track this move on the EUR/USD and believe it may be setting up for a good "sell on rally" type opportunity here in this retracement phase. For those who missed the short trade I...

I don't really agree with that strategy as we're clearly in a pronounced downtrend. If you view the selloff from 1.4300 as a mere retracement of the uptrend, then buying on dips would make sense, but my strong view is that we've got lower to go and we should see a break below 1.3000. The odds...

Initial TP of 1.3370 hit for about 390 pips profit in less than 48 hours. EUR/USD may bottom form for a bit now and stage a moderate rally off this support area... if so, we should see another chance to short into that rally in the 1.3500 to 1.3620 range.