Dear Graduates,
Today is Non Farm Payroll which always takes place on the first Friday of each month. The time of the news release is at 8:30 PM.
The market for the currency pairs are moving sideways. Traders could be staying out from the market before the news release.
At this point of time, there may not be many opportunities for USD CHF as compared to the other 3 currency pairs.
Prepare your trade plan before you engage a trade. Do not trade if you are not prepared.
Eur/Usd 07-08 May 09
Thursday, May 7, 2009
Getting ready for trades done today and riding some nice wave once we are ITM . friday NFP is tomorrow instead of previous , so do take note of this huge movement . never fight a position unless you are ITM or unless you are prepare for a big swing that you are able to handle the kinda risk . dont be too much of a risk taker if you are just starting out to trade , manage you portfolio well .
Now lets take a look ( top down apporach ) weekly looks like going for a upclose if not .. a small downclose . so on wednesday we saw some rejection on daily and post as a certain mid term support for the week . when hrly can hold , we can see some near upside direction when the day THURSDAY stay as upclose to ride half of your profit for NFP . remember this method must be use and measured when you are already ITM so that you are not risking capital (only risk is your profit that you had yet to cash out ) .
The NFP data might create some gap during that period of time . do trade with care or stay out of any trade . Question : info@mmtta.com
TW index (c) chart
Tuesday, May 5, 2009
This is the Taiwan Index Daily chart with a runaway upwards market since end April to early May . Notice that this kind of market tends to trigger lots of attention and build in emotion with plubic rushing in for a piece of some good $ . Attention - if there are no follow through after the big movement there might be a resting point where the market need to find a new direction .. if at any point any traders are not in ITM with their trade , try to square of the position rather than to get marry to it . Traders must learn when they should not be in the market and when they should actively involve . ( word of advice ) for any questions on trading the futures market email : info@mmtta.com
Yen Update
Monday, May 4, 2009
Looking forward the $/yen movement might not be too huge as Golden week coming along and time flame showing limited upside and downside potiential . Intraday will be good and alongside with price action for follow through . cheers ..
Major news events coming this week
Sunday, May 3, 2009
Dear all graduates, please be aware that Japan is having a three day holiday this week starting from Monday to Wednesday. On Thursday, Bank of England and the European Central Bank would be announcing their interest rate. Lastly, there is a bank holiday on Friday for Europe while the world awaits the latest non-farm announcement from the United Stats at 8.30pm.
For the USDJPY currency pair, we have identified and are eagerly waiting for the right shoulder to form. A subsequent bearish breakout from the neckline is expect to form the Head & Shoulders chart pattern.
As always, plan the trade and trade safely.
Subscribe to:
Posts (Atom)