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Hello everyone,

Recap March 5th 2012: +17 pips
Video Recap of the session:


I was looking for risk-off play with China cutting its growth forecast. I was already short the Eurostoxx 50 over the weekend and closed the trade in the room for +20 points. That was no official trade but I put the entry and exit in the chat. As for official trades I was looking for shorts in AUD. I went short twice in AUD/USD. I took the first trade off the table for -5 pips when I saw no momentum to the downside. Some worse than expected European data this morning caused more risk-off and I went short a second time. This time we banked +16 pips. I went also short the EUR/USD twice. The pair was acting very choppy this morning which is not unusual on a Monday. Both entries came around 1.3180 with a stop tightly above 1.3200. I closed the first trade for -10 pips when I did not see the momentum to the downside I was looking for. The second trade worked out better and we also took +16 pips profit on that trade.

Regards,
Marco
 
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Hello everyone,
Recap March 6th 2012: +14 pips

Video Recap:


We finally saw the selloff in the stocks market I was anticipating for the last couple of days. Since I was bearish for stocks I was looking for long in the USD this morning. I decided to go short EUR/USD since AUD/USD already dropped too much for my taste. I was careful and traded with smaller size since the stock market already saw some early selling und I was expecting a rebound at support. In the end I closed the trade at a Fibonacci expansion level for a small profit. My plan was to go short EUR/USD again after a retrace in stocks and the EUR/USD. The retrace in the stock market never came and so dropped AUD/USD, EUR/USD and Cable to new lows without us. With the selling continuing during the US session I expect consolidation for the next couple of hours. I will be most likely on the sideline tomorrow and wait for the consolidation to complete. I case we get some nice retraces I will look for new shorts.

Regards,
Marco
 
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Hello everyone,

Recap March 7th 2012: no trade
Recap March 8th 2012: no trade
Recap March 9th 2012: +12 pips
Recap video:


It was a bit calm before the storm here in the European trading session on the last three trading days of the week. Everyone was waiting for the Greek PSI deal, ECB rate statement and the NFP numbers. The market was trading sideways in a tight range on Wednesday. I did not see any setups and decided not to take a trade. On Thursday I was actually looking for shorts in EUR/USD or GBP/USD. I did not get any short signals and waiting patiently for the market to come down. First rumors of a successful Greek PSI deal sent both pairs higher instead and I did not get a setup again. We did not get any good price action either on Friday in front of the NFP numbers but I felt I had would have to make a trade on the slightest sign of weakness. I was still looking for shorts and went short in the GBP/USD after it broke the 5 day VWAP to the downside and a downtrend in the 10 min chart. Nevertheless I did not see much potential in front of the NFP numbers and closed the trade for a small profit when I did not see any follow through momentum when Cable tested the previous 10min swing low. Even we did not trade as much as usual this week we had three winning days and no losing days.

Weekly chart analysis:
http://marcohering.com/category/currency-trading

Weekly article: KISS trading
Articles | Marco Hering

Regards,
Marco
 
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Hello everyone,

Here are the results for past three trading sessions:

March 12th 2012: -17 pips

I went short in EUR/USD since I expected more USD strength. The market decided to retrace further before turning down on the next day.

March 13th 2012: -12 pips and +51 pips after the official room time (I decided to extend the session by 30 minutes since we had the German ZEW numbers coming right at the end of the session)

I was still looking for trades with the trend. We had actually a pretty decent setup in GBP/USD but GBP showed some relative strength. EUR/GBP was selling off and despite USD strength we saw GBP/USD trading in a choppy range. I cut the GBP/USD for a small loss before the initial stop got hit and went short EUR/USD instead when the pair did not go higher despite much better than expected ZEW numbers. The trade was quickly in the plus and I was able to put the stop at BE shortly after I entered the trade. I told the members in the room to let the trade run to the profit targets. Both TPs got hit for an average of 51 pips profit.
Here is the Trading session video recap:



March 14th: +1 pip

I was again looking to buy USD after the FED did not hint any QE3. EUR/USD was already falling in the Asia session and I went short EUR/USD. Like on Monday we did not get a move in the direction of the trend during the European trading session and got stopped out for -19 pips. AUD/USD was behaving more nicely and we went also short that pair. We could net a 20 pips profit here. I did miss another nice setup though. Why I took the trade and why I took profit is shown in the video. I still expect 1.0360 coming soon in this pair. (In case you follow my blog at marcohering.com)



Regards,
Marco
 
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Hello everyone,

Results for the last two session:

March 15th 2012: Break even

The major Forex pairs I trade did not move in the direction of the main trend and were retracing/consolidating. I decided to go short EUR/CHF after the SNB statement. I thought longs would be slightly disappointed that the SNB did not make any hints to raise the 1.2000 peg. After the trade was in the plus I put the stop to BE and we got stopped out at BE shortly afterwards.

March 16th 2012: -20 pips

I went short AUD/USD. This was not a text book room trade but it had a very good risk-reward ratio. I thought the AUD/USD might top out and move again in the direction of the main trend. We had a tight stop and a 160 pip target and I put this trade as set and forget. The trade did not work out since the USD got surprisingly sold off hard in the US session.
Keep in mind: If you book "Pay per session" you only get charged for the session if it is a winning session.

Weekly chart analysis:

Currency Trading | Marco Hering

Weekly article:

Articles | Marco Hering
Optimizing your Money Management to maximize your profit with low risk

Regards,
Marco
 
Hello everyone,

I did not have much time to post here the week so here a just the results for the European trading sessions. We have mostly seen the good moves in the direction of the trend outside of the European session this week so there was not much to analyze anyway. I was looking mostly for scalps with low risk and smaller targets in the live room and had wider stops and targets for the time outside of the session. As for the net result the week ended slightly positive for the European sessions.

March 19th: -12 pips
March 20th: +21 pips
March 21th: -10 pips
March 22nd: no trade
March 23th: +16 pips

Weekly chart analysis:

Currency Trading | Marco Hering

Regards,
Marco
 
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Hello everyone,


Since the last two trading weeks have been shorts ones due to the Easter Holidays I will just wrap up the result for the last two weeks. The week before Easter was slightly negative. Most of the loss was due to the fact that I went long EUR/CHF just before the 1.2000 peg fell which was a surprise to me.

April 2nd-April5th: -20 pips

Last week:

April 20th: +24 pips
April 11th: +19 pips
April 12th: -25 pips
April 13th: +40 pips

Weekly chart analysis:

Currency Trading | Marco Hering

Regard.
Marco
 
Hello everyone,

With the US bank holiday in the middle of the week and everyone waitung for the ECB and NFP news the had not been many opportunities in the European session. The major moves came in the US session as expected and I decided to play it save. In the end 3 trades ended up at Break even and 1 trade for +16 pips.

Weekly chart analysis:

Currency Trading | Marco Hering

Regards,
Marco
 
Hello everyone
Sellers still remain in control here in AUD/USD below 1.0250. I decided to go short here this morning with the plan to add around 1.0215 if AUD/USD would have decided to move higher. My target for this move was and still is the 20 day VWAP around 1.0140. Support comes at 1.0125 as this was the former break-out level. Since momentum slowed down in the morning I closed for +22 pips in average.

recap_audusd_july9th_20121.gif

GBP/USD is still in a messy sideways range as I mentioned yesterday. Nevertheless the 2H 20 EMA is resistance right now and I tried a short this morning around the level. I was a bit slow on the trigger and got 1.5502 as the fill. I closed half for +15 and moved the other half to BE where I got stopped out. Right I look to sell near 1.5550 with a target around 1.5450 which is support in the 2H chart.

recap_gbpusd_july9th_20121.gif

Regards,
Marco
 
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Hello,

The pressure for Euro to the downside is still there even at these oversold levels. Several Euro related cross pairs were struggling today and EUR/AUD made even an All-time low below 1.2000. EUR/USD did hold up for most of the day before selling was too dominant in the US session. I tried to go with the trend here in the European session and shorted EUR/USD twice. No momentum at this point though and I closed both trades for a total of -7 pips. As so often lately the move in the direction of the main trend came in the US session and I went short at 1.2296 after the pair made a new low and came back to the pivot/30min 20 EMA. I got out at 1.2280 and 1.2270 for a total of 21 pips.

recap_eurusd_july10th2012.gif
CAD/JPY looked heavy to the downside and I underestimated a possible bounce of the 61.8% Fibonacci retracement in hindsight. Support got broken nevertheless and the 30 min 20 was also in place on a re-test of the former support. I took a short at 77.80 with an initial stop at 78.25. For some reason we got a shift in risk sentiment all of a sudden and commodity pairs started to rally. I closed half for -6 and kept the other half with the intention to add that half again near the pivot/ 2 hour 20 EMA. I added as planned at 77.96 but moved my stop down to 78.07 for the whole position and got stopped out. -22 pips in total.

recap_cadjpy_july10th_2012.gif

The market seems still I risk aversive mode but things are more choppy now. I still look to go long in USD and JPY tomorrow but I would not mind some large retraces either. 1.2360 is a place in EUR/USD where I expect fresh sellers to step in.

Regards,
Marco
 
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