Trading update for 13th March 2013

jeff b

Private
Messages
21
reading ur book now, what software do u use to scan currencys for opportuities, tech set ups ?

thkx jb
 

ArielKorber

Private, 1st Class
Messages
62
Thanks for the analysis, it was useful in understanding what the market is looking for in general terms. It gave me confidence to trade the dips in the yen crosses across some of the currency pairs so far.
 

Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Thanks Jarratt; that's very helpful

The USD seems fairly flat leading up to the retail sales news. No surprises expected then?
Hey redrag,

Sorry i only just got back to this.

There is a lot of positive US data coming out right now so that's what i'm looking for to continue. It did with the retail sales and also unemployment numbers etc...

Right now there seems to be a lot of Profit taking going on which is pushing the USD back down, but i cannot see that lasting if the data keeps flowing as it has been.
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
thanks jarratt , would there also be an opportunity to sell to this level. 95.00
Hi Michael,

The USD/JPY is bullish based on the sentiment and the BOJ policies right now.

This means that we expect that pair to go up a little bit more yet, so in theory the thing could just keep rallying up past 96.00 and on .... But of course there may be profit taking or some comments that could scare the market before then which would cause retracements. (We saw this on Friday with USD profit taking)

So although we could get short moves down, it wouldn't really be as safe to try and trade it down there, because the bias of the market overall is still long.
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Thanks Jarrat. Have you initiated a trade even though the price only got to 95.438?
Hi Ayoayo,

I took several long positions this week .... But the trades were too short term to be able to share here, as there just wouldn't have been enough time to get the signals across etc...

My tactic on this pair is to simply keep a very close eye on comments and news and then buy the dips as the price falls back to key price levels.

Hope this helps!
 
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Jarratt Davis

Special Consultant to the FPA
Messages
1,495
reading ur book now, what software do u use to scan currencys for opportuities, tech set ups ?

thkx jb
Hi Jeff,

The key is getting the news as quickly as possible and then using technicals to enter the moves so we use 'Ransquawk' for the live news feed and i also keep track of everything via Bloomberg, Reuters and a few other sources such as MNI ...

Thanks!
 
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