Daily Trade for March 8-9, 2010

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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 Monday the
8th to Tuesday the 9th of March 2010.

We are still in a choppy environment as the wash and rinse cycle
continues. Usually a precursor to trending moves, we are content to
bide our time until more definite set-ups are seen. Position trades
seem to be doing well from session to session, but intra-session
trades are increasingly treacherous. Going forward while the EUR is
on a weekly buy signal against the USD and JPY the GBP is still
neutral. We will trade accordingly...bias is on retracements to BUY
the EUR and AUD USD and JPY denominated pairs while in the GBP USD
and JPY denominated pairs we will concentrate on sells should
retracements be apparent at present.

The Monster Trades have fared better than other USD and JPY
denominated pairs. The current stop levels are just under 0.8850 for
the AUD/USD and 0.6800 for the NZD/USD. For now 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 0.9075 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 some 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 for todays session is to BUY the EUR/USD an any
retracement to 1.3586 to 1.3590 with a STOP at 1.3564 and a TARGET of
1.3653 for over 60 PIPS. Looser stop so position size adjustment
recommended if so suited.*

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*

* *

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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
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possibility exists that you could sustain a loss of some or all of
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associated with foreign exchange trading, and seek advice from an
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Please, use your own good judgment and seek advice from a qualified
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