GreenForexTrading.com
ForeX for-X-tra Gr��n
Hi 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
4th to Friday the 5th of March 2010.
Looks like the dollar is resisting the roll over with a bounce back
to 80.0 on the daily and 79.5 on the weekly to confirm a top is in
place in the USDX. Going forward while the EUR is on a weekly buy
signal against the USD and JPY the GBP is still neutral but arrested
from its free-fall mode earlier...so we will trade accordingly...bias
on retracements is neutral on the GBP and slightly bullish on the EUR
and more bullish on the AUD at present.
The Monster Trades have fared a better than other USD denominated
pairs and have led the way off of the bottom. Stop levels are now
just under 0.8800 for the AUD/USD and 0.6800 for the NZD/USD. Below
these levels, weakness should no longer be bought as more downside
would be expected in the near term. That is if these levels are
breached on the weekly/monthly charts; but that is now looking
extremely unlikely. For now the Monster Swing Trade is still intact
with new recommendations to buy on pullbacks. Key levels to BUY would
be on any pullback to the areas in the 0.895 to 0.905 range. These
are key as these are in the current zone of consolidation. I
recommend scaled in BUYS (0.1 contract at a time) on weakness in the
AUD/USD in the 0.8950 to 0.9050 range or better with looser stops
than usual, around 0.8800 to 0.8850 (so explains the very small
position size), and/or scaled in BUYS on weakness in the NZD/USD in
the 0.6950 to 0.7020 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 some reports expected to move the markets today with
the big one, the US Non-farm Employment Change expected to give a big
reaction, and as always, adjust position size accordingly to your risk
tolerance and good trading to all.
*There is no swing trade for 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 a 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
special offer.*
*Mr. Green*
* *
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performance is not indicative of future results. The high degree of
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possibility exists that you could sustain a loss of some or all of
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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
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