Seventh Consecutive USD Bull Day.
Today is a day to remember. Nikkei stocks dropped lowest in 2 years, led by our favourite brand, Sony. Asian stocks continue to tumble today thanks to inflation factor from the United States. From the Eurozone today, German CPI numbers matched consensus, showing steady growth in the country. For the wholesale price index in Germany is reported higher than consensus. This may due to the oncurring event in the country, World Cup 2006. However, the German ZEW Confidence fell again marks the consecutive 5 months low for the country. This however does not do much changes on the prices for EUR or USD as market was anticipating for PPI and core PPI data. Normally, ZEW does move the prices but it's just not happening this month. This could be the overwhelming expectations of the interest rate hike by the Fed by the end of the month.
The release of the Producer Price Index ( PPI ) contains mix data which the monthly PPI was lower than consensus but core-PPI ( excluding food and energy ) is higher than expected. This has caused the dollar to gain up breaking the high of yesterday reaching 1.2372. The market was pretty mixed up after the release causing big candles in EUR/USD and USD/CHF. But I'll be putting my money on USD... which I call them the 'safe' side. Afterall, if core PPI increased, how could the CONSUMER price index would be lower than PRODUCER's PRICE index. I'm expecting a figure of 2.4% for core-CPI tomorrow or higher. This will definately trigger bull USD and high volatility is expected.
The bull for USD has caused the continuous price drop in the gold, copper, silver... you name them. For gold, it's nightmare for those who's still holding Long XAU/USD. Today, Gold dropped to almost $40 an ounce... which makes price difference of $1411 per KG. That is CRAZEEEE..... All of sudden I felt I am so wise to take losses on gold even at that moment, I knew it could create a big hole in my account. Live to trade another day...
For my trial testing on strategies, I was looking to make 3% daily profit through day trading. I only buy on breaks and no more dip trading for day trading. I trade EUR/USD, USD/CHF, XAU/USD, USD/JPY, USD/CAD, NZA/USD, GBP/USD, GBP/JPY, GBP/CHF, EUR/GBP, EUR/CHF, CHF/JPY and CAD/JPY. I will analyse the current market sentiment then place trades accordingly towards the market sentiment. I will let the market choose which pair I would trade for the day. The first 5 trades triggered will be my profit trades. My reason for those 5 first trades, according to my experience is if the market is volative and active, it would start early as it represents there's a large amount of traders trading it. My breaking strategy works best only with major movements, whichever way it's heading. If anyone who reads this wish to try out this strategy, you're free to help yourself but don't hold me responsibility if losses occurred.
Today, I've traded LONG GBP/JPY, USD/CAD, USD/JPY taken maximum profit for each trade of at average 50 pips for each pair of currency... I doubled my profit from 3% to 6.2% That is an excellent result and I will continue this until the end of the week. Proving this strategy and technic would be useful.
Trades remains the same as yesterday and looking to take profit on USD/CHF 1.2430. Hopefully it's gonna happen. Praying to forex god...
The release of the Producer Price Index ( PPI ) contains mix data which the monthly PPI was lower than consensus but core-PPI ( excluding food and energy ) is higher than expected. This has caused the dollar to gain up breaking the high of yesterday reaching 1.2372. The market was pretty mixed up after the release causing big candles in EUR/USD and USD/CHF. But I'll be putting my money on USD... which I call them the 'safe' side. Afterall, if core PPI increased, how could the CONSUMER price index would be lower than PRODUCER's PRICE index. I'm expecting a figure of 2.4% for core-CPI tomorrow or higher. This will definately trigger bull USD and high volatility is expected.
The bull for USD has caused the continuous price drop in the gold, copper, silver... you name them. For gold, it's nightmare for those who's still holding Long XAU/USD. Today, Gold dropped to almost $40 an ounce... which makes price difference of $1411 per KG. That is CRAZEEEE..... All of sudden I felt I am so wise to take losses on gold even at that moment, I knew it could create a big hole in my account. Live to trade another day...
For my trial testing on strategies, I was looking to make 3% daily profit through day trading. I only buy on breaks and no more dip trading for day trading. I trade EUR/USD, USD/CHF, XAU/USD, USD/JPY, USD/CAD, NZA/USD, GBP/USD, GBP/JPY, GBP/CHF, EUR/GBP, EUR/CHF, CHF/JPY and CAD/JPY. I will analyse the current market sentiment then place trades accordingly towards the market sentiment. I will let the market choose which pair I would trade for the day. The first 5 trades triggered will be my profit trades. My reason for those 5 first trades, according to my experience is if the market is volative and active, it would start early as it represents there's a large amount of traders trading it. My breaking strategy works best only with major movements, whichever way it's heading. If anyone who reads this wish to try out this strategy, you're free to help yourself but don't hold me responsibility if losses occurred.
Today, I've traded LONG GBP/JPY, USD/CAD, USD/JPY taken maximum profit for each trade of at average 50 pips for each pair of currency... I doubled my profit from 3% to 6.2% That is an excellent result and I will continue this until the end of the week. Proving this strategy and technic would be useful.
Trades remains the same as yesterday and looking to take profit on USD/CHF 1.2430. Hopefully it's gonna happen. Praying to forex god...
posted by 4xTrader at
12:20 PM
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