EURUSD in a TIGHT SPOT (15min Chart) !!!

Mornning All,

Looking for any setups and I’ve noticed that EUR in particlaur is in a rather tight spot. After a brilliant up movement yesterday on this Pair (that I know one of our students Izak took full advantage of) it has re traced somewhat over night. In doing so, the Pair has moved below the 50 ma and at present is sitting on strong support (intra day Pivot). As you can see from the chart attached below.

EUR trade setup - 15min Chart

My strategy has given me a signal to SELL.My RSI has broken the 50% line BUT it looks like it will turn. This will occur because the Pair has tested the strong support line. So could see a re-test of 50ma before we probably  see further movement to the downside. Those of you who are quick off the block could have put in order to go SHORT at the close of the previous candle (our signal candle) with your stop above the previous swing low (around 14095). 1st target would be around 14026 (200ma) which happens to be another intra day pivot line. 2nd target around 1400 line and 3rd 1396 area…

Those of you who would want to see a definite confirmation signal to indeed SELL would wait for the Pair to CLOSE BELOW the support area at 14064 before entering your trade.

I would do the latter and WAIT for a definite confirmation that this is a SELL. Too much congestion between 50ma and strong support at the moment. I would rather wait to be given a CLEARER signal that this is moving in the direction I think it will be going. Too many people get caught out in situation like this. My strategy has given me a signal BUT there is too many obstacles(mentioned above) at the moment to make it a genuine signal. This is where a CHECKLIST must/should be used. I’ve seen it countless times where one see signal and jumps in without checking to see if it’s a genuine one….. Let’s see what happens with this one!!!

Please ensure that you do your analysis prior to entering any trades. It’s vital that you do this analysis before hand.There is no need to rush your trades. Patience is key in trading !!! Learn to be patient and you will certainly become a better trader.

Have a brilliant day.

UNP – US share looking BULLISH

Hi All,

I’ve decided to post some news relating to the US share market. We’ve seen some UPSIDE on all the indices and this has reflected on some of the companies that make up these indices.

One that I have been trading of late is UNP. Look at the chart posted below and you will notice that we have had a great bull movement over the past couple of months – saw chaqnge in direction back in early FEB of this year. From then onwards we have seen this share move up $20.00 since then !!! WOW……….. I think there might be more come.

UNP trade setup Weekly

On a weekly time frame we have seen this break through a strong resistance level @ 200 ema. On DAILY CHART we are seeing the same thing. Price having broken through an all important ema – 200 ma in this case. Have seen it retrace (which is what is expected after breaking a major level (200 ema). It’s the Institutional moving average. And this is a good thing. If a share/stock is trading above this level, institutions tend BUY and if it is trading below this level , they tend to sell.  So back to the Daily Chart. If we can find support on the upside of this 200 ema, then expect this share price to rally to next target @ $60.00 and 2nd target around $68/70 mark….

UNP trade setup Daily Chart

Cable set up – follow up.

Hi Everyone,

Just to follow up on the cable trade I posted earlier – I closed my trade with 25 pips on the table – it wasn’t behaving as expected and as it is a Big News Day – I’m not taking any trades until after Non-farm in the US has come out.

Cheers,

TB

EURUSD Set-up continued

Hi Everyone,

The EURUSD trade I posted is running out of steam / momentum – if you are in this trade – I’d close out at Break Even.

Cheers,

TB

US Shares to have in your watchlist – Update

Hi Guys,

I just wanted to let you know that some of those shares i posted on the 25/05/2009  have posted some great gains in a couple of days. If you don’t have the list I blogged last week, find it below. Put these in a watch list and do your analysis. There are some decent trades in these.

Quality Companies to add to your watchlist

Until tomorrow, keep well