1 May 09

Dear all graduates, a check on the 4 major currency pairs show that the market is moving sideways with alternate small upclose and small downclose candles. There are news at the following -

At 4:30 PM, there are news that will affect GBP.

At 10:00 PM, there is ISM that will move USD.

Trade with care and with plan.

Enjoy your supper long weekend & have time with your loved ones.

DNDN 94% gap up

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for more information on how to trade or invest in the stock market - email to : info@mmtta.com 

Dollar Index

Important - potiential upside limited . downside movement seems greater . if this weaken the dollar we might see some unfair advantage of eur upside movement ( dont mean eur strengthen , just that dollar weaken ) . but eur/aud start to move up higher in the day , also represent aud/usd might move a bit sideway and choppy ..for any questions email - info@mmtta.com

yen scalping

understanding of how and when a market can u-turn is important . also if the trade can hold for the day for maximum rewards. plan to trade , you need to have a trading plan . cheers ..

sideway market

it has been 12 hrs of (1 up cls 1 down cls) false breakout . learn to be patient as to stay out if it is a side way market - unless one is going for a Support and Resistance scalping [not advisable for new traders] . accept the fact of small losses and look for bigger market movement afterwhich or the next trading day . enjoy the rest of the days with your love ones . 

EUR/USD

Hi all,

Eur/usd is going side way . Break out at level of 1.2994 after which i am looking to short the currency. Take profit at S1 1.2941.

Regards

Asrin

S&P 500 market movement

Notice that S&P 500 had a long 7 weeks upclose and that is just 1 week short from 2 months time flame ! can it last ..... see the red line on the above chart .. we seen the low of last week lower than the previous and without any higher high on the weekly chart .. the hourly chart need confirmation and setups before any reversal kicks in .. be alert of immediate price action .. trade safely .. cheers

News Movers and Bank Holidays

For the week starting 26th April 2009, a quick check with the economic calendar allows us to recognise major news movements and identify blackout periods where we should avoid trading.

A good example would be the several bank holidays scattered along the week would imply lower trading volume for the currency pair. (Eg. Australia bank holiday on Monday, Japan bank holiday on wed and Europe bank holiday on Friday would normally suggest bigger spread and smaller market movements for the currencies affected. This might increase the time taken for the positions to reach the target price.

Next, the US FOMC statement together with the Fed Fund rate announcement is scheduled to be announced on Thursday 2.15am. Early identification of such critical movements would warn us to stay out from the market or to re-adjust our stop loss to factor in wider volatility during that hour. Lastly on Friday, the manufacturing PMI for both Britan and United States might create some leading effect earlier on in the week.

All in all, we should always lookout for setups, identify good entry criteria during the week and adopt the correct target profit calculation to stretch the trade potential.