In this email I am going to give you my view on the market for today,
Tuesday, the 26th of January 2010.
Yesterdays swing trade to BUY GBP/JPY @145.35 worked out extremely
well, giving us over 100pips in the final hour of Asian trade. The
pair collapsed in the first two hours of London trade where we went
short but closed out prior to German Ifo and UK GDP, netting some 20
extra pips in the room for good measure. In addition, the collapse
has technically triggered the Monster trade to the downside as
described in last Sundays Weekly Outlook.
As expected, everything given in yesterdays Daily Trade worked as
scripted and we in the chat room played both sides, and things got
real interesting when the UK GDP came in less than expected
triggering a gap down through the previously defined Monster trade
support. These are big events with things just warming up. So what
now? Trading should become choppy and volatility should steady
somewhat today and increase as the week wears on so again, position
size, stop placement and now anticipated trade time frames will be
crucial to remain in positions to capitalize on some of the moves in
the sessions going forward. For those of us in the room this is a
gift.
*There is no swing trade for today, although some new light
positioning for the Monster trade might be in order.*
That's it for today. Remember that I trade in the Live Forex Trading
Room between 1am-6am Eastern Time. I will be hosting my regular 3-4
hour session and assessing and exploiting PIP opportunities as they
arise.
Enjoy trading and good luck everyone!
*Trade with Mr. GREEN for $39.00/trial for 1 WEEK*
*Trades are issued in real time, including exact entries, exits and
detailed explanations. The service costs $99 per month, and we also
offer a 7-day trial for $39. So go to GreenForexTrading.com and take
advantage of this special offer.*
*Mr. Green*
* *
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