GreenForexTrading.com
ForeX for-X-tra Gr��n
Hello Everyone,
In this email I am going to give you my view on the market for the
Asian/London sessions in the market for today, spanning Thursday the
11th to Wednesday the 12th of March 2010.
Another day of watching paint dry in a trendless choppy market.
Going forward, the conditions for a sustainable trend inducing
reversal remain in place. Evidence of a diamond bottom in the EUR/USD
daily, and is currently looking to breakout. We will maintain our wait
and see neutral to slightly bullish bias on USD and JPY denominated
pairs, and we will trade accordingly. Small size is still recommended
and the only bias is to buy USD and JPY denominated pairs on intraday
retracements or well defined breakouts, if any, at present.
The Monster Trades have fared better than other USD denominated
pairs and we are heavily weighted in the AUD/USD. The current stop
levels are just under 0.8850 for the AUD/USD and 0.6800 for the
NZD/USD. The Monster Swing Trade is still intact with new positions
recommended on pullbacks. I recommend scaled in BUYS (0.1 contract at
a time) on weakness in the AUD/USD in the 0.8975 to 0.9100 range or
better with looser stops than usual, around 0.8850 to 0.8900 (so
explains the very small position size), and/or scaled in BUYS on
weakness in the NZD/USD in the 0.6850 to 0.7000 range or better with
looser stops than usual, around 0.6800. Note: the AUD/USD is the
preferred pair with ultimate targets expected to yield 1000 to 1500
PIPS over the next 2-3 months, maybe even sooner. Again, NOTE: All
position trade stops are HARD stops, NOT mental stops. Remember, hard
stops for overnight positions, mental stops for day trades.
There will be few, if any, reports expected to move the markets
today, and as always, adjust position size accordingly to your risk
tolerance and good trading to all.
*The swing trade is to BUY EUR/USD on a break above @ 1.3724 with a
stop @ 1.3695 and an initial target of 1.3799 for 70 PIPS today.*
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 $39$ for 1 week.***
*Trades are issued in real time, including exact entries, exits and
detailed explanations. The service costs $99 per month after the
$39$/trial. So go to GreenForexTrading.com and take advantage of this
offer.*
*Mr. Green*
* *
*Risk Warning!** *Trading foreign exchange on margin carries a high
level of risk, and may not be suitable for all investors. Past
performance is not indicative of future results. The high degree of
leverage can work against you as well as for you. Before deciding to
invest in foreign exchange you should carefully consider your
investment objectives, level of experience, and risk appetite. The
possibility exists that you could sustain a loss of some or all of
your initial investment and therefore you should not invest money
that you cannot afford to lose. You should be aware of all the risks
associated with foreign exchange trading, and seek advice from an
independent financial advisor if you have any doubts. All information
posted on this website is of our opinion and the opinion of our
visitors, and may not reflect current situations and occurrences.
Please, use your own good judgment and seek advice from a qualified
consultant, before believing and accepting and acting upon any
information posted here or on this website.
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