DECEMBER TRADE #2 - BUY EUR/USD

December 24, 2009 3:30pm (Manila)

Rest of the trade is out at +30 pips/lot for a total of +60 pips.

I'm hitting the road for a well-deserved Christmas vacation. As such, will be unable to monitor and manage this trade.

Summary for this trade:

1st Half: +60 pips
2nd Half: +60 pips

Total: +120 pips

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December 24, 2009 3:23pm (Manila)

First half is out at +30 pips/lot for a total of +60 pips.

Second half now risk-free with stops moved to breakeven.

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December 24, 2009 10:00am (Manila)

It's Christmas Eve, and I was wrogn that my previous trade would be my last one for the year.

BUY EUR/USD @ 1.4337 (4 lots)
Stop - 1.4289
Limit 1 - 1.4367
Limit 2 - 1.4399

At 9:30 pm (Manila time), US Core Durable Orders and Unemployment Claims will come out, expected to be bullish for the USD which I think will cause a wave of risk appetite and drive this pair higher.

On the technical side, RSI indicates that the pair is oversold on the Daily chart and is primed for at least a modest rise. That rise could be today.

DECEMBER TRADE #1 - BUY EUR/CHF

December 22, 2009 3:39pm (Manila)

Rest of trade got stopped-out at breakeven yesterday afternoon. This is probabaly my last trade for the year.

More pips to catch next year!

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December 21, 2009 11:07am (Manila)

1st half is out @ +50 pips/lot for a total of +100 pips.

2nd half is now at breakeven. Back to sleep. :-)

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December 21, 2009 9:30am (Manila)

BUY EUR/CHF @ 1.4903 (4 lots)
STOP - 1.4850
Limit 1 - 1.4953
Limit2 - 1.5050

See my previous post...

Trade Plan (Dec 21 '09)

I'm back from hibernation after more than a month of not trading. This silence on trading was mainly due to the forex market entering a technical sideways trend --- caused by the strength of the USD and a few weeks back, the spectre of us going back into the abyss with the Dubai World near-default.

Well, after reviewing the charts, I believe there are two (2) pairs worth taking a look at: the EUR/CHF and the EUR/USD.

EUR/CHF (Euro-Swiss Franc)

This pair breached the 1.5000 mark last week. The last three times in the past twelve months that this pair blew below that line, the SNB came into the market with guns blazing, selling the Franc and sending the pair blasting to the air 200-600 pips. Well, it might just happen again. So, I'm keeping a close eye on this pair with a couple of "ambush" positions slightly above 1.5000.


EUR/CHF Daily Chart as of Friday Dec 18, 2009


EUR/USD

The USD has been on a stampede the last two weeks. This strength sent the EUR/USD pair to a 3-month low. RSI indicates that the pair is alreday oversold as well the Bollinger Bands. So, I am waiting for a setup on this pair to form and go LONG.


EUR/USD Daily Chart as of Friday Dec 18, 2009