Trader123's trading ideas - Page 11

trader123 · #**101** (**permalink**) 08-21-2008, 07:44 AM

AUDUSD moving upwards

AUDUSD gained after commodities prices rose and traders bet the decline in the past month is overdone. Rising commodities prices will continue to provide support for this AUD crosses.

My system has continued to signal buy for AUDUSD.

I had placed working order to buy 10,000 AUDUSD at 0.8670
Place a stop level at 0.8570

trader123 · #**102** (**permalink**) 08-21-2008, 10:57 AM

Double-top formed for USDJPY

Fear in the financial market has strengthen Yen, at the same time USD has changed its direction from strong to weak.

Double-top formed for USDJPY on the hourly chart.

Shorted 10,000 USDJPY at 108.44
Stop level at 109.49
Target level at 107.00

trader123 · #**103** (**permalink**) 08-22-2008, 10:21 AM

I believe the bull run from commodities is not over, this will provide support to AUDUSD.

My trading system has signaled buy for AUDUSD.

Bought 10,000 AUDUSD at 0.8678
Stop level at 0.8578
Target level at 0.8790

Chart: http://www.forexandbinary.com/2008/0...-at-08678.html

trader123 · #**104** (**permalink**) 08-25-2008, 09:31 PM

Shorted NZDUSD and EURUSD

Previously there were a lot of agruements on whether slowdown in US economy is going to affect the rest of the world. The answer is yes. Europe and New Zealand have shown signs of slowdown in their economic data.

Hence this lead to the environment whereby US is holding interest rate unchanged while the rest of the world are cutting interest rates.

Based on interest differentiate, we should see NZDUSD and EURUSD falling much lower.

Shorted NZDUSD at 0.6970
Stop level at 0.6673
Target level at 0.6673

Shorted EURUSD at 1.4712
Stop level at 1.4915
Target level at 1.4415

Chart: http://www.forexandbinary.com/2008/0...nd-eurusd.html

trader123 · #**105** (**permalink**) 08-27-2008, 06:03 AM

Bearish on New Zealand dollar

The Reserve Bank of New Zealand cut interest rates for the first time in 5 years on 24 July 08. Reserve Bank of New Zealand reported that economic activity is likely to remain weak over the remainder of 2008.

Retail sales had fallen by the most in 4 years and consumer confidence hitting record lows, the New Zealand dollar has weakened to the lowest level in 6 months.

RBNZ Governor Bollard promising more rate cuts and the futures curve pricing such action, the New Zealand central bank has become the most aggressively dovish policy maker of the G10.

Further weakness is expected in NZD and for it to fall below 66 cents against the US dollar before end of September.

NZDUSD tends to fall when daily stochastic shows oversold.

Chart: http://www.forexandbinary.com/2008/0...nd-dollar.html

trader123 · #**106** (**permalink**) 08-27-2008, 06:23 AM

Quote:

Originally Posted by trader123

Shorted NZDUSD and EURUSD

Previously there were a lot of agruements on whether slowdown in US economy is going to affect the rest of the world. The answer is yes. Europe and New Zealand have shown signs of slowdown in their economic data.

Hence this lead to the environment whereby US is holding interest rate unchanged while the rest of the world are cutting interest rates.

Based on interest differentiate, we should see NZDUSD and EURUSD falling much lower.

Shorted NZDUSD at 0.6970
Stop level at 0.6673
Target level at 0.6673

Shorted EURUSD at 1.4712
Stop level at 1.4915
Target level at 1.4415

Chart: http://www.forexandbinary.com/2008/0...nd-eurusd.html

1. I had shorted NZDUSD at 0.6970, stop level at 0.6673, target level at 0.6673.

Seeing that USD started to weaken, I decided to take profit on NZDUSD at 0.6936, profit is US$34.

2. I had also shorted EURUSD at 1.4712, stop level at 1.4915, target level at 1.4415.

I decided to take profit at 1.4630, profit is US$82.

trader123 · #**107** (**permalink**) 08-29-2008, 08:47 AM

On Monday I had shorted 10,000 USDJPY at 109.53, stop level at 11.46, target level at 108.20.

Triple top is formed in the hourly chart, looks like the uptrend is over for this cross.

USDJPY is now trading at 108.72, up 99 pips, profit is US$85.21.

My system has signal SELL for USDJPY since it was trading at 109.60, and it is still signal SELL now.

If you are interested to know the details of my trading system, send an email to me at metal.commodity@gmail.com.

Chart: http://www.forexandbinary.com/2008/0...p-99-pips.html

trader123 · #**108** (**permalink**) 09-01-2008, 01:04 AM

On Monday I had shorted 10,000 USDJPY at 109.53, stop level at 11.46, target level at 108.20.

USDJPY is now trading at 108.20, up 108 pips, profit is US$88.15.

My system has signal SELL for USDJPY since it was trading at 109.60, and it is still signal SELL now. So I lower my target price from 108.20 to 107.50.

Chart: http://www.forexandbinary.com/2008/0...-108-pips.html

trader123 · #**109** (**permalink**) 09-01-2008, 06:42 AM

EURGBP range trading maintains

EURGBP has been trading in a range for 4 months. Resistance level is at 0.8105 and support is at 0.7796.

Fundamentally both Europe and UK economies are weak, and both economies are likely to cut interest rate over the next few months. I believe this range trading will maintain.

Currently EURGBP is trading at the resistance level, hence it is good opportunity to short. In addition my proprietory trading system had signal SELL for NZDUSD.

Shorted 10,000 EURGBP at 0.8105
Stop level at 0.8208
Target level at 0.7909

Chart: http://www.forexandbinary.com/2008/0...maintains.html

trader123 · #**110** (**permalink**) 09-01-2008, 06:43 AM

Bearish on New Zealand dollar

The Reserve Bank of New Zealand cut interest rates for the first time in 5 years on 24 July 08. Reserve Bank of New Zealand reported that economic activity is likely to remain weak over the remainder of 2008.

Retail sales had fallen by the most in 4 years and consumer confidence hitting record lows, the New Zealand dollar has weakened to the lowest level in 6 months.

RBNZ Governor Bollard promising more rate cuts and the futures curve pricing such action, the New Zealand central bank has become the most aggressively dovish policy maker of the G10.

Further weakness is expected in NZD and for it to fall below 67 cents against the US dollar before end of September.

My proprietory trading system had signal SELL for NZDUSD.

Shorted 10,000 NZDUSD at 0.6962
Stop level at 0.7080
Target level at 0.6766

Chart: http://www.forexandbinary.com/2008/0...nd-dollar.html