Saturday, December 31, 2011

Indices for week 02/01/12

USDX: Charts below for this posting; apologies but I'm away on holidays and it was simply quicker to post this way.

Monthly: Trend up. The month candle closed and was a very bullish candle.

Weekly: Trend up. A small green bullish engulfing candle but with a long upper shadow suggestion some indecision. This isn’t surprising as price had touched up near the strong resistance level of 81.

Daily: Trend up/flat. Overall, the trend was up but there was a fair bit of sideways movement during the last holiday week. Price is conforming within an ascending wedge pattern which is a bullish pattern.

4hr: Trend flat/up. Price closed the week at 80.25 after opening at around 80. Price had rallied up to near the key resistance level of 81 and then retreated a bit. It’s almost as if it is just drawing breathe before its next assault at this key level. The ADX and DMIs have moved back below the 20 level which is great news. This will make it easier to see any new trend that develops, if at all, next week.

Thoughts: I will watch to see how price trades within the narrow range between 80 -81. I’ll be watching the ADX/DMI indicators to gauge any new strong trend. The next critical area in the upper zone is the 81 level. If price moves, closes and holds above 81 then I still think there could be quite a rally and ascent from there. There does not seem to be too much blocking price from further upward movement once it’s past the 81 level.

I would need to see the USD move back down, close and hold below the daily trend line before I would consider a Short on the USD

As always, Fundamentals, by way of Euro zone dramas and news announcements, continue to be triggers for price movement on the indices. These events can always have the potential to undermine all Technical analysis.





EURX

Monthly: Trend down. There was a large bearish candle for the month of December. Price has fallen and closed below the bottom trend line of the large symmetrical triangle dating back to May last year, 2010. This is a bearish sign.

Weekly: Trend down. A large bearish candle finished the month, the 4th such candle in a row. Price broke and closed below the strong psychological level of 103 during the week.

Daily: Trend down. Price finally broke below the 103 level after trading sideways there for quite some time .

4 hr: Trend down. Price broke below the bottom trend line of the symmetrical triangle. It re-tested this level during the week and has continued to fall since then.

Thoughts: I will watch to see if the bearish move on the EURX continues. A continued move down below the 103 level would have me looking to short the EUR in pairs. I will not look to Long the EUR though unless it breaks up, closes and holds above the 103 level OR until the ADX/+DMI trend up.




Thursday, December 29, 2011

Trading week 26/12/11

Saturday 31/12/11 (7am)
Strange times indeed. Both USD and EUR falling. Something big seems to be brewing. (see charts)

The USDX is still trading within a bullish ascending wedge pattern. The EURX has failed to break back up above the bear trend line it fell through earlier in the week. Lots to look forward to next week!


I'd like to wish any readers here a very Safe and Happy New Year!

I'm enjoying this trading journey and will probably post some more 'reflections' later on during next week.

Friday 30/12/11 (6am)
The USD rally paused overnight. There was positive investor reaction to the good US home sales and Italian bond auction data. Hey, never mind the jump in initial US jobless claims though! Anyway, the USDX pulled back a bit towards the daily pivot and the the EURX pulled back to the daily pivot but, also, to the weekly trend line that it broke down from during the week. (see charts) This is not unusual. Often, when price breaks out from a strong trend line, it will re-test this level before making any further continuation move. This may well be the pause here for the EURX before a further big move down.


The lack of TS signals on the 4 hr charts yesterday was warranted! TS signals rely on catching strong momentum and this was clearly lacking over longer time frames in the broader market.

I will continue to be watching the USDX to see how it reacts at the 81 level and the EURX to see how it moves from the current trend line and daily pivot level area of 102.7. Moves on these indices will determine whether we will have a 'risk on' (short USD) or risk off (long USD) sentiment and, thus potential trades.

I am away for 2 weeks as from tomorrow and out later today for our daughter's birthday. Thus, I may not post again until later over the w/e.


Thursday 29/12/11 (9am)
Well, after a quiet few trading days, there was a lot of movement last night during the US session. More Euro-zone jitters sent the USD soaring against the Euro. The USDX spiked up to just under the strong resistance level of 81 and the EURX fell below the bottom trend line on the weekly chart. (see charts).

Silver, which I have been watching here on this blog, seems to have unfolded into the Head and Shoulder breakdown that I previously discussed. (See chart) Silver fell almost 150 pips overnight from the breakdown out of the bottom trend line. In hindsight, this would have been an easy trade with only a small stop needed.
There were some fantastic TS trades overnight for those of you who can trade off smaller time frames and trade through the US session. There was a 100 pip move on the E/U and a 190 pip move on the G/U; both fairly safe and straightforward TradeSpotting trend trades. The E/U trade also had a trend line break for added confirmation. The beauty of these TS trades on shorter time frames is that only small stops are needed.

I am away for 2 weeks from tomorrow so will not chase any of these trades just now. The USDX is approaching the strong resistance level of 81. Thus, I wouldn't be surprised if there was a bit of a pause, or maybe even some sideways action, before any possible further up movement on the USD.

Interestingly, there have not been any TS signals to short either the E/U, A/U, A/J or NZD/USD just yet. Nor have there been any TS signals to Long the USD/CHF, USD/SGD, USD/CAD or USD/JPY just yet either. There has been a TS signal to short the G/U though but, I would be cautious about shorting this pair given it had such a big move last night. I suspect the lack of TS signal reflects the lack of major momentum and liquidity in the market at the moment.

I will still be waiting to see what the USD does around the 81 level before placing any trades.




Saturday, December 24, 2011

Indices for week 26/12/11

USDX

Monthly: Trend up. USDX has currently broken up and out of a symmetrical triangle. A bullish sign but still a few days until month end.

Weekly: Trend up. A red indecision type of candle though, with a long lower shadow. Not surprising leading into holiday period though.

Daily: Trend up/flat. Overall trend is up but there was a lot of sideways movement in the last week leading into holiday mode.

4hr: Trend flat. Price has hardly left the 80 area for the last week and a half. This is the daily pivot, monthly pivot R1 and strong previous support & resistance level too.

Thoughts: I will watch and wait to see how price moves from the 80 level that it has been stuck at. Both the + and – DMI are below 20 on the 4hr chart. I’ll be watching these indicators to gauge how momentum moves price action. The next critical area in the upper zone seems to be the 81 level. If price moves, closes and holds above 81 then I think there could be quite a rally and ascent from there. There does not seem to be too much blocking price from further upward movement once it’s past the 81 level.

I would need to see the USD move back down, close and hold below the daily trend line before I would consider a Short on the USD

As always, Fundamentals, by way of Euro zone dramas and news announcements, continue to be triggers for price movement on the indices. These events can always have the potential to undermine all Technical analysis.

EURX

Monthly: Trend down. Current monthly candle is very bearish but has a few days left before close. Price has fallen to rest just above the bottom trend line of the large symmetrical triangle dating back to May last year, 2010.

Weekly: Trend down. Last week’s candle was an indecision Doji though.

Daily: Trend down/flat. The last 7 days or so have seen price hang around and just above the 103 level.

4 hr: Trend flat. Price has paused to take stock of where it wants to go next. Price is stuck at the 103 level which is strong previous support/resistance, the daily pivot and just above the monthly pivot S2 and trend line.

Thoughts: I will watch and wait to see how price moves from the 103 level that it has been stuck at. Both the + and – DMI are below 20 on the 4hr chart. I’ll be watching these indicators to gauge how momentum will move price action. A move down below 103 and the trend line with a break, close and hold would have me looking to short the EUR in pairs. I will not look to Long the EUR though unless it breaks up, closes and holds above the 104 level OR until the ADX/+DMI trend up.

NB: Christmas Eve, 4pm here. It's hot and we're out the back of the house, near the pool and watching, as is our ritual each Christmas, 'Remember the Titans'. Have a safe and happy break guys.

Friday, December 23, 2011

Things I'll be watching over coming days/week

Things that I’m watching, FX wise, over the coming days/ week!

I’m back from Hawaii, as many of you know, but I'm still suffering the side effects from this trip. As I had blogged in my travel blog, it was as if Scottie and Captain Kirk from the Starship Enterprise had beamed us right back into the 70s... with Gilligan and the Brady Bunch etc! So, to complement this scene I have zoomed back into some music from that era too. One example is below so, load it up, turn it up, and finish reading my blog to see what I've got my eye on over the coming days/week. PS: For you Gen Ys out there who may never have heard this...too bad!

http://www.youtube.com/watch?v=NCIUf8eYPqA

USDX

The USDX is back to hanging around the strong previous support / resistance level of 80. I’ll be watching to see if it continues its ascent and makes it to the 81 level. If it manages to break, close and hold above the 81 level then, I think we could be in for a bit of a further run up from there as there isn't too much more in its path. Have a look at the monthly and weekly charts to see this.


I’m certainly not making any predictions about where the USD is going to go. I’m just looking at the technical patterns on the charts and, sort of, extrapolating. It’s what I do. What I am saying is though, is that these are the key areas to watch out for over the coming days. It could just as easily break back down. Then, I would be looking for a break, hold and close below the trend line.

Silver

I know that most of the planet is bullish about Silver and Gold but I’m not so convinced. I’m aware of the fundamental reasons supporting a bullish view on precious metals. I’m not stupid. Looking at the charts though, Silver looks quite bearish to me. We’ve just had a bearish head and shoulder pattern evolve on the daily chart of Silver. Right now, price is stuck under the neckline of the H & S pattern and just above the bottom trend line of a symmetrical triangle. Price might continue to bounce around within the triangle for a bit but, to me, it looks like it ‘wants’ to break down.


A continued rally in the USD would tie in with a break down in Silver. Again, I’m not making predictions. I’m just saying what I’m watching.

You must always trade what you see and adhere to your own safely developed, strict money management rules.

I’ve been thinking more about some other issues to do with the Indices. I’ll update my blog about this when I get a chance.

Have a safe and happy Christmas guys.

Chat later.

Mary


Wednesday, December 21, 2011

Christmas and New Year

I probably won't be live trading again now until after the Christmas and New Year break. We have family coming to stay tomorrow and then we're away for the first couple of weeks of January so the next few weeks will be very disrupted. I will probably peak at the charts now and then though and post an update if I see something of interest.

I'm especially looking forward to enjoying this holiday season with friends and family considering the horrible year that I've had.

Thank you all for your patience in following me on my trading journey. It has been exciting for me as I realise just how powerful my TS trend trading system is and I look forward to continuing this into next year.

I wish you all a safe and peaceful holiday period.

Monday, December 19, 2011

Trading week 19/12/11

Wednesday 21/12/11 (6.30pm)
The 'risk on' approach is still going today. The4hr TS signals from earlier today have delivered lots of pips. The Long A/U is up 160 pips and still going. I closed out the E/G short at break-even as the trend petered out. I also put on a short on EUR/AUD and it is cruising along nicely too. I've put these on in my sim account only though as I've had a disrupted few weeks.

Wednesday 21/12/11 (12.30pm)
Well, it seems like my TradeSpotting system is doing better than I am! There was a good long trade overnight on the 30 min charts that I already discussed below. There has also been a signal to Long the A/U on the 4 hr charts. This signal came in as price broke above the daily pivot and psychological level of 1.00. This trade is currently up around 100 pips! (see chart). My waiting for more of a clear sign on the indices seems to have kept me out of a winning trade. That happens. Some times sticking to trading with the trend keeps you out of losing trades. Unfortunately, this is one time when it kept me out of a winning trade.

There have also been other TS signals for 'risk on' trades on 4 hr charts. Long E/U, E/J, A/J, NZD/USD and Short on USD/CHF and USD/SGD.

I missed all of these and was concerned about trading against the trend as mentioned. I did just read on FXNews that the current buying on the EUR may be due to some short covering out of Asia. Also, I'm busy here with tradesmen and kids home. Just about to take them to the beach. I will keep checking in on price action though.

Wednesday 21/12/11 (8.30am)
Well, I'm stuck home with some tradespeople here so thought I'd look at the charts some more. There was a beautiful TradeSpotting trend on the A/U last night using 30 minute charts. It started in the London session and continued into the US session. It yielded up to 150 pips! (see chart). I missed seeing this develop as I was out for dinner last night.

I'm not able to trade 30 min charts through my night time anyway. I mention it though as this will appeal to those of you who can! Also, I'm looking to trade with the main trend when using 4 hr charts but I don't have any set rules about this for trading on shorter time frames. One of the advantages of shorter time frame trading though is the need for smaller stops. I would certainly day trade on 3o min charts if I lived in a time zone that could trade some or all of the London and / or US session.

Wednesday 21/12/11 (6.30am)
There was a bit of a 'risk on' rally overnight following a bit of good data and news out of the US and Euro zone. The cynical out there are saying it was due to a short covering rally as people exit positions before the Christmas break.

The USDX pulled back to the upper level of its previous triangle breakout but is rallying up again as I type. The EURX did not rally as impressively as the USDX pulled back. (see charts). This makes me a bit suspect about any long term reversal of trend.



The EUR/GBP short trade is up about 20 pips. It seems a bit confused though with some long wicks on the candles indicating indecision. In a 'risk off' approach, the EUR and the GBP probably don't know which of them is meant to rally against the other!

I am still only looking to short USD at the moment though until I see clear signs on the indices that the previous 'risk off' trend is over.


Tuesday 20/12/11 (5pm)
Indices still ranging. The USDX is just hanging around the daily pivot level of 80.3. The EURX is hanging around its daily pivot level of 103. More 'pole dancing' stuff. I should have put hula skirts on them and taken them to Hawaii with me to give them some variation!

NB: I've just noticed a TS signal to SHORT the EUR/GBP. This is NOT a pair that I usually trade so I am only taking the trade in my simulated account; for interests sake. This trade is on my Admiral Platform and the 4hr candle has just closed.

Tuesday 20/12/11 (10am)
There was a bit of a further sell off on stocks and rally in the USD just before the close of trade today and since I last posted. I'm keeping an eye on potential shorts on the E/U and or A/U. The A/U has broken a 4hr upward trend line and is currently re-testing this. The E/U has yet to break its 4 hr trend line.

I'm also keen to see what happens with Silver. A look at this chart suggests that there could be an interesting move in store. (see chart). It is nearing the bottom trend line of a symmetrical triangle. As always, it could bounce up, break down or drift sideways. I'm not making a prediction, I'm just saying its worth keeping an eye on! A break done, close and hold below the trend line and the $28 level could spell a big move down on this metal.



Tuesday 20/12/11 (6.30am)
Nothing much has happened overnight. The indices have traded sideways. (see charts). No TS trends evident.

I'm thinking I should go away again....Murphy's law and all that, trends will appear if I'm not here! I actually think this sideways movement could go on until after Christmas. There is not a whole lot of 'red flag' news scheduled for this week but, that doesn't always mean the news horizon is free from potential market-moving announcements. See http://www.forexfactory.com/calendar.php for more details here.


Monday 19/12/11 (9pm)
Indices still bouncing around. No trend trades evident.

Monday 19/12/11 (5pm)

No TS trend trades just yet. The 5pm candle close looked like setting up for trends with the ADX on the indices and a number of pairs but my other TS indicators haven't confirmed a solid trend just yet. This may well change before the next candle close at 9pm though.

The major pairs could also just drift sideways this week; in a sort of brief reprieve for the benefit of the Christmas weekend. Time will tell. I'll keep checking the charts on the 4 hr close.

Indices for week 19/12/11

Indices for week 19/12/11 (6am) I've been awake since 2 am though!

I'm just back from Hawaii so this will be a relatively short update. Also, my computer either has a virus or is still on Hawaii time. That is, it's going very SLOWLY. It's going need to go the IT doctor.

After a week of much sideways action before I left, it looks like I missed a number of fantastic trend TradeSpotting trades last week. A case in point is a look at the trend on Gold for last week. It broke out and down from a symmetrical triangle and then went into a huge TradeSpotting short trade (see chart).
This missing of trades doesn't bother me as much as it used to. I've come to realise that there is always another day, a trading day that is, just around the corner. That corner might take a week to stroll around but, you eventually get around it. Thus, patience and discipline are required for this kind of trading! The thing is, I've now got very good 'walking shoes' and a fantastic 'sense of direction' with TradeSpotting in my trend trading!

USDX

Monthly: Up. USDX has broken up and out of a symmetrical triangle. A bullish sign.

Weekly: Trend up. A very bullish candle last week after one of indecision.

Daily: Trend up. Fridays candle was an indecision candle though.

4hr: Trend up. Might be a bullish flag/pennant forming.

Thoughts: I will watch and wait to see if there is a bullish breakout on the flag pattern on the 4 hr chart. There may be some retracement though after last week’s big moves. Price is currently under the daily pivot of 80.3. A break, close and hold above the daily pivot will have me to look to further Longs on the USD in pairs. I will not Short the USD at the moment though. If there is retracement, I would look for a reaction around the previous trend line breakout point of 79.5 area. This area is also weekly R2 pivot and daily S2 pivot levels and previous S/R. I would then look to Long the USD.

I would need to see the USD move back down, close and hold below the 79 level before I would consider a Short on the USD

Caution: As always, Fundamentals, by way of Euro zone dramas and news announcements, continue to be triggers for price movement on the indices. This can cause spikes and major moves in either direction so caution is needed. These events can always have the potential to undermine all Technical analysis.





EURX

Monthly: Trend down. EURX has broken down and out of a symmetrical triangle for this month so far.

Weekly: Trend down.

Daily: Trend down. The last 2 days were Doji style indecision candles though.

4 hr: Trend down. It looks like the inverse of the USDX and that a bear flag could be forming on the EURX.

Thoughts: I will watch and wait to see if there is a bearish breakout on the flag pattern on the 4 hr chart. There may be some retracement though after last week’s big moves. A move down below 103 with a break, close and hold would have me looking to short the EUR in pairs. There may be some retracement even back up to the 104 level. I will not look to Long the EUR though unless it breaks up, closes and holds above the 104 level.




Thursday, December 15, 2011

More Aloha from Hawaii

Wed 14/12/11
Well, after last week with few moves, this week has had plenty on offer. Sadly, I am missing this action but catching holiday action instead! I'm just having a quick look at the charts whilst updating my travel blog and I see what a great TradeSpotting trend the EUR/USD has given this week so far. A fantastic 280 pips, that is almost 3 weeks worth of pips in a few days! See charts below.

Tuesday, December 13, 2011

Aloha from Hawaii

Aloha from Hawaii!

We're in Hawaii on a short holiday but I couldn't help myself from taking a peek at the charts.

I noticed that the EU & AU gave fantastic TradeSpotting trades on the 30 min charts, they're still running as I type actually. Depending how you managed the trade, the EU would have yielded a minimum of 65 pips but up to as much as 145 pips. The A/U gave a minimum of 70 pips and that was with waiting for a break of a trend line with the 4hr 200EMA, a very conservative trade at that! That's me though, I'm a conservative trader! (see charts below)

TS keeps on going even when I'm away! We're on a winner with my TS system!

PS: I'm not back until Mon 19th Dec.

Thursday, December 8, 2011

Reminder: I'm away from 9/12/11- 18/12/11

Absent from Fri 9/12/11- Sun 18/12/11

Just a reminder that I am away for a week as from tomorrow, Friday 9/12/11. I'm off to Hawaii as a treat for getting through this difficult year. I've battled cancer, surgery and chemotherapy and, at this stage, I'm winning the battle but it has a long way to go. Things are certainly looking up for me though now and my success with my TradeSpotting system has certainly contributed to this improvement.

I do love to write, as you've probably gleaned, and I have a travel blog too. So, if you want to check up on what we're up to you can log in and see. It's at http://blog.travelpod.com/members/mcnamaras

Otherwise, I'll be back from Monday 19/12/11.

Monday, December 5, 2011

Trading week 5/12/11

Friday 9/12/11 (6am)
Comments from the European Central Bank president unsettled the markets overnight and have sent the USD up in a 'risk off' approach to trading. The USDX spiked up and the EURX down. (see charts). I'm glad I slept through all this mayhem.


This up and down stuff is not for longer term trend traders like moi. I'm kind of glad I'll be away next week as, hopefully, this will give the markets a bit of breathing space and allow for some kind of normal to return.

Even the shorter time frame charts posed problems for trend traders last night. A look at the 30min chart of the E/U (below) shows this clearly.

I'll be back after Hawaii. Cheers! Mary

Thursday 8/12/11 (6pm)
The USDX has traded sideways throughout most of the Asian session. It has just started to break out and down just now though. (see chart).

I would be waiting for a clear breakout on the pairs though before taking any trades. For example, a clear break out from the flag patterns on both the A/U and N/U as shown on the charts from earlier today.

I probably won't be trading tonight as I am out for part of the evening. This is most frustrating but, I believe, the key to success through these difficult periods is 'Patience'. I am away next week in Hawaii and will probably not be posting or trading. I look forward to catching up with my blog on my return.

Thursday 8/12/11 (6am)
Well, we're back to hokey pokey stuff. The broader S7P etc pre-markets were up, then gapped down at market open and the that gap was then filled. They're currently pretty flat. It's impossible to trend trade on 4 hr charts through this chop.

A look at the indices confirms all of this. I have re-drawn the trend line on the USDX slightly but, for both of them, the USDX and EURX, you can see them bouncing around in narrow ranges, (see charts).

I've also included a chart of the A/U and N/U to show the narrow channel that they are bouncing around in as a result of this indecision and chop. The current trading week is highlighted pink.



I am out for most of the day at my son's end of year Speech Day.

Wednesday 7/12/11 (9pm)
The USDX is currently re-testing the trend line from the earlier break out. As a result of this reversal, the TS signals that looked like forming on a number of pairs have not fully developed.

I will not be checking charts again until after the 5 am candle close.

Wednesday 7/12/11 (5.30pm)
The USDX has broken the bottom trend line (see earlier chart) and the ADX is ticking up. The monthly pivot is just below current price though at 78.20. Many of the pairs are lining up for TradeSpotting signals but they're just not quite there. This means I will have to wait for the 9pm candle before assessing again. I will try to contain myself and wait as we have seen price bounce around at these levels throughout the week. Also, the markets around London open are often a bit choppy too. I do expect to see some enthusiasm for a short USD 'risk on' approach to trading then though. The Asian markets were up today and the US futures pre-markets are up as well. All of this aligning with a 'risk-on' approach.

Wednesday 7/12/11 (1pm)
The next candle close here, in 3.5 hrs time, at 5 pm might offer a signal to short the USD. A trend line on the USDX, that has been in place from late October, is being threatened and the ADX looks like it's starting to tick upwards. There is a bit of resistance just below this level with a monthly pivot, strong previous S/R and a psychological number in 78 though. (see charts below). The cautious trader might prefer to wait for a break, close and hold below the 78 level; something I discussed in my indices analysis at the beginning of this week.

I might be late getting to my charts at the 5pm candle close though but will update as soon as I can.


Wednesday 7/12/11/(6am)
FX continues to be very choppy. The indices are still bouncing around in a fairly narrow range and this makes it nigh on impossible for trend trades to develop, at least on a 4 hr time frame. The EURX is bouncing around between 105 and 106. The USDX is bouncing around in an increasingly constricting triangle pattern of between 78.25 and 78.85. (see charts). The ADX and DMI on both charts reveal just how trend-less these two are on the 4 hr time frame. This indicator is great for helping to keep you out of potentially losing trades.


A quick look at the chart of the A/U also reveals how difficult it has been to pick a direction on this pair. The ADX hasn't risen above 20 on this pair yet this week.

This volatility reflects the indecision in the broader markets. I will continue to watch the 4 hr candle updates but would not be surprised if this pattern continues all week.

These choppy markets can present some opportunities to trend-trade but, on much shorter time frames though. The chart below shows the AUD/JPY on a 15 min time frame. There was a trend trade yesterday for part of the Asian session where 60 pips could have been picked up. It all just depends what kind of trading you focus on though, longer term with 4hr or shorter term.

Please remember that I am away for a week as from this Friday 9th Dec.

Tuesday 6/12/11 (9pm)
The indices are just bouncing around. There are no TS signals. No trades thus far.

Tuesday 6/12/11 (5pm)
The trend throughout the Asian session has been 'risk off'.

There are no convincing good TS signals just at the moment. There is a signal to short the A/J but there is a lot of resistance just below the current levels.

Tuesday 6/12/11 (6am)
My pc had some issues this morning so, apologies but, I'm a bit late. I was backing up my pc overnight before my break scheduled for the end of this week and it seems that it didn't like this. Mucking up....just like my son at the moment. Something in the air??

Anyway, it seems that the 'risk on' technical trend started last night of USD down and EUR up has been halted. An S&P downgrade warning for some EU members put paid to that trend. This news item has seen a return to 'risk off' with the USD rallying and the EUR falling. (see chats). It is interesting to see how this reverse, caused by fundamentals, ties in with the trend lines though imposed by technicals. Spooky.

There were TS trades setting up for LONG on the A/U and NZD/USD and SHORT on the SGD/USD. These have paused with this change of trend. I'll keep watching to see if sentiment returns though and post accordingly.


Monday 5/12/11 (9pm)
The USDX and EURX have traded pretty much sideways for most of the Asian session. They are just starting to make some moves now though, at 9pm Sydney time. The USDX is currently edging lower and the EURX higher. (see charts).

I don't have any TS signals just yet but expect, if the current trend continues, that there will be signals develop through the night. The next 4hr candle close is at 1am for me, which I'll miss. I will update after the 5am candle.