EUR/USD…Greece we are coming!!!

Hello Friends and Traders,

There was a long lasting sideways range in the EUR/USD chart.  However, I had some fine trades in GBP/USD & Oil.

Profit of the day: 52 pips.

In the morning I did not expect this result, it was a bank holiday in the UK and there have often been false break-outs, mini trades with only a few pips.

Looking Back
After a range between 1.3205 and 1.3250 the course of EUR/USD and GBP/USD lost a lot after Germany’s Chancellor Angela Merkel promise for the Greek aid package.

It seemed as if the whole world was waiting, will it go further on with Greece.

Further the economic news of Switzerland, the European Currency Union and USA has been positive.  

However, let’s stop talking here.  It is more important, how the markets will go on today.

High Impact Announcements for Today
09:30 GBP Manufacturing PMI
15:00 USD Pending Home Sales m/m

Medium Impact Announcements for Today.
07:00 EUR German Retail Sales m/m
09:30 GBP Net Lending to Individuals m/m
15:00 USD Factory Orders m/m

However, let’s wait and see.  I would expect more movement in GBP/USD than yesterday; also in EURUSD it could be more volatile when Wall Street opens.

When the markets are trending sideways like they are at the moment, they can be more difficult to trade.

Forex Trading Chances for Today
EUR/USD
EUR/USD lost a lot this morning due to the finished Greek package of the EU.
Today morning 04:30 GMT the cross pair is in a range between 1.3186-1.3214.
I would see trading chances for long above 1.3230 with take-profit at 1.3295-1.3320 and stop-loss at 1.3190.
For short there could be some chances below 1.3170 with take-profit 1.3120-1.3070 and stop-loss 1.3195.

GBP/USD
For GBP/USD it’s the same picture. The cross pair is now in a range between 1.5230-1.5264.
I would see trading chances for long above 1.5285 with take-profit at 1.5340-1.5360 and stop-loss at 1.5245.
For short there could be some chances below 1.5210 with take-profit 1.5140-1.5100 and stop-loss 1.5260.

Always take care of your stop management.

Trading Tip of the Day

Always check  your trading and look at different time scales.
What can you see?
Look at the 4-hour-chart, 1-hour-chart, etc.  Until you reach your favourite time scale for trading your given strategy. You will see a different view point and this could aid your trading.

To Your Trading Success

The Investor Guru

Well even though in the United Kingdom there is what is called a Bank Holiday, GBP/USD has give me 2 trades this morning and I am currently looking at a possible 3rd.  The first trade took a little longer than anticipated.  Entry was short at 15244.8 and the exit with 13 points was at 15231.8.  I can hear some of you asking why have a 13 point limit.  Well my aim is to increase my trading account by 5% per day.  For the whole of April I hit the target.  Now for May the plan remains the same, and I have calculated that today I need 52 points so 4 trades at 13 point will be good enough.

So now on to the 2nd trade of the day, a long trade which didn’t take too long at all to come along or to take my 13 point limit.

I have to say that so far this morning it has possibly been the best Monday for a while.  When the signals are lined up it isn’t really taking long to get the points I am looking for.  Now the reverse of the 2nd trade, the 2nd short trade.  At this rate I will have my required points before our American Cousins come on board.

 I am now going to take a well earned rest and will be back in a couple of hours when Wall St opens.

To Your Trading Success

The Investor Guru

Good Morning Friends,

Well yesterday afternoon was a little bit of a damp squib as far as the stochastic strategy goes. I did take just over 10 on Oil, however that disappointed me somewhat as I was just over 20 points up going for 25. This is a very good example of when GREED takes over. Under normal circusmstances I would have been happy with the 20 and most probably would have had a limit set.

So now for today…Well the Dust in the European air is still causing issues. My sister-in-law is currently stuck in Dubai. I could think of worse places to be stuck, and for my Icelandic friends “ÉG von allt er ALLT Í LAGI í þinn fagur land”.

This morning it has been a little bit more lively than first anticipated, oh well 5.7 points is better than 0, and the day is still young.

GBP/USD Early Trade

Lets see where the rest of the day brings.

Well I ended the morning on 21.2 pip’s up so not a bad mornings work…then came the afternoon and I am not sure what happend, I very nearly did some revenge trading and I am so glad I held firm and didn’t.  Anyway the sum total is that I ended the day 1.2 pip’s up…Yes that’s right 1.2.

To Your Trading Success

The Investor Guru

Morning all,

Well there have been some big moves overnight again. Over the last month these have been attributed to the Dilema that Greece are currently facing. However I believe the latest slump is down to the Icelandic Volcanic dust that has currently grounded the majority of the European Airlines. I am adjusting this morning and will be short selling the Air France / KLM and British Airways. I will post my results here.

All that said I did see early signals on my Stochastic Strategy and took an early 10 points. I set a limit of 10.

Early Cable Stochastic Trade for 10 Points

So I am now waiting for the FTSE opening to see if this takes the markets even lower.

Back Soon

To Your Trading Success

The Investor Guru