GBP/USD a bit volatile entered a short trade @ 1.6390, but exited manually (16 pips loss). No more trades for today. Just hanging on the EUR/GBP trade. If my TP is it, il look for another long oportunity about the TP level. This is a previous high and I expect price to hold at this level.

If you want to time a bottom try drawing fibs and time it at the 1.618 extension ( to the downside). And see if that level will be respectd for a correction.

Checking out 25 rules of day trading by Douglas Zalesky.
Ati,
#12 Don't hope and pray.If u do u will lose.
#13 Don't worry about the news, it's history.
#15 If ur trade is not going anywhere in a give time frame, it's time to exit.
#25 It is the market itself that wields the ultimate scale of justice.

EUR/NZD TP hit +128 pips , might re-enter it.
EUR/CAD Long trade still on.

Stopped out on USDCHF - 56 pips loss. CHF is at bullish extremes & the eurozone CDS drama adds more fire.
Looking to sell CHF either long USDCHF or GBPCHF. Longterm.

EURUSD back above 1.46 Will be looking for shorts. The May 2010 script is still in play. Unbelievable Short term.

EURGBP above .89. My sell interest is above .90. Short term.

AUDCAD SL added @1.0550. If stopped out I'll still for shorts as long as AUDUSD fails to surpass 1.10. Longterm.

USDZAR - Will go long at 6.6. Longterm.

USDSGD - Will go long at 1.20 - 1.21. Longterm.

Other bullish extremes NOK & Taiwan dollar.

Noticed some weakens in the JPY futures. Maybe time too look for JPY shorts e.g. long USDJPY, GBPJPY, CADJPY etc. If USDJPY breaks below 80, that will be the short JPY signal! BoJ is not about to stop intervention.

Gratias Hisah, this is invaluable piece of info.

Trade update - AUDCAD short @1.0450 SL hit (1.0550 - 2003 yr high) - 186 pips loss. Still looking for shorts. Why? At these levels all the way to 1.10 is a confluence of multi-year resistance levels. Spot at 1.10 has been a solid resistance level since 1994, 1995, 1996 and 1997. Check it out if your charts can go that far in the past... More indicators - monthly slow stocs overbought and monthly RSI just about overbought. Upper bollinger band is at 1.0630 - all lining up against buy momentum. I will repeat again, this is a monthly trade so patience needs to be exercised... I'm also banking on the Australian housing meltdown.

Checked out NZDUSD - this one could target 1.10 if it can surpass the 0.82 level (multi year resistance) with conviction. Otherwise, risks for a major reversal are likely. And with China on a slow down and Australia facing a housing sector meltdown, the bears have a bigger chance.

USDJPY - yet again testing the line in the sand (80.00) of the central planners... Intervention anytime soon. Shorts had better tighten their stops. Last time it broke down (after the Jap earthquake) it quickly crashed to 76.30 before the BoJ and G7 intervened killing the short term sellers. BoJ will not permit USDJPY peg to crash since an expensive JPY is bad for their crashed economy. They will print (debase) yens at all costs!

As for USDCHF, monthly RSI is oversold, slow stochs so oversold. Reversal in the offing.

EURUSD - monthly stochs overbought, turning down lower than highest peak while failure of 1.50 handle still holds. Monthly candlestick calls for a selloff. I don't like covering the euro since I'm a biased bear...

As for USDZAR and USDSGD, what I stated before remains the same.

Happy trading...

The best way around fx imho is through self education, there is plethora of info on the net. Forex is an art, therefore ur success will be based on skills that u will build upon gradually. If u still insist on help u can mail me:ceinz1@gmail.com.

USDJPY below 80.00. Now let's see the yen bazooka in action again... BoJ intervention is not the big deal here. The G7 one is the real deal. The money masters cannot afford to lose Japan and maintain their 'global recovery' hoodini act...
In the meantime I like the clustering of all the global drama. It's about to get volalite in the financial markets... Steely balls will be required plus zero emotions else hearts will fail...

Eur/jpy