Trader456's trading ideas

[trader456]

Originally Posted by trader456

My indicator is showing buy signal and hourly chart is showing positive signal as well. Fed Chairman is giving a speech now, expects some solution on the credit crunch crisis, will strengthen USD temporary.

Bought 100,000 USDCHF at 1.0263
Stop at 1.0210
Target level at 1.0330

Chart: Forex and Binary Trading: Bought 100,000 USDCHF at 1.0263

US May pending home sales is negative 4.7%, worse than expectation of negative 3%. To me this is a lousy data for USD, so I decide to take profit on USDCHF, sold at 1.0286. Profit is US$223.60.

At the point of writing this, USDCHF is still going up. So traders may want to monitor the position yourself to get a better selling level.

[trader456]

My back-test indicator signals me that EURJPY is looking toppish. I interprete this signal as selling on strengthen. Seeing that hourly chart is looking overbought, I decide to short this currency pair.

As mentioned earlier, weakness in stock will cause JPY to appreciate.

Shorted 100,000 EURJPY at 167.97
Stop level at 168.70
Target level at 167.40

[trader456]

Originally Posted by trader456

My back-test indicator signals me that EURJPY is looking toppish. I interprete this signal as selling on strengthen. Seeing that hourly chart is looking overbought, I decide to short this currency pair.

As mentioned earlier, weakness in stock will cause JPY to appreciate.

Shorted 100,000 EURJPY at 167.97
Stop level at 168.70
Target level at 167.40

EURJPY moves up after announcement of Germany trade balance, so my position was stopped out at 168.70, loss is US$691.34.

[trader456]

EURJPY is still looking toppish, I think EURJPY has peaked.

Shorted 50,000 EURJPY at 168.54
Stop loss at 169.00
Target level at 167.70

[trader456]

GBP fell against EUR after an industry survey showed confidence among Britain's consumers dropped in June to the lowest level in at least 4 years.

I personally think with the current weakness in UK economy, GBP is overvalued.

Bought 50,000 EURGBP at 0.7967
Stop loss at 0.7937
Target level at 0.7990

[trader456]

1. High yield currencies are back in favour. AUD/USD and NZD/USD have rebounded since yesterday night.

This morning correction for NZD/USD is an opportunity to buy in my view.

Bought 50,000 NZD/USD at 0.7578
Stop level at 0.7535
Target level at 0.7610


2. EURJPY is still trading in a triangle range. Currently it is near to the bottom of the triangle.

Bought 50,000 EURJPY at 168.18
Stop level at 167.72
Target level at 168.70

[trader456]

Originally Posted by trader456

2. EURJPY is still trading in a triangle range. Currently it is near to the bottom of the triangle.

Bought 50,000 EURJPY at 168.18
Stop level at 167.72
Target level at 168.70

EURJPY went above 168.70, so my position is sold at a profit. Profit is US$242.27.

[trader456]

USDJPY advanced before Federal Reserve Chairman and Treasury Secretary testify before the congress on regulation of markets.

USDJPY is still trading in an uptrend.

Bought 50,000 USDJPY at 107.24
Stop level at 106.60
Target level at 107.66

[trader456]

Originally Posted by trader456

USDJPY advanced before Federal Reserve Chairman and Treasury Secretary testify before the congress on regulation of markets.

USDJPY is still trading in an uptrend.

Bought 50,000 USDJPY at 107.24
Stop level at 106.60
Target level at 107.66

USDJPY plunged down below 106.60, so my position was closed. Loss is US$294.19.

[trader456]

Originally Posted by trader456

1. High yield currencies are back in favour. AUD/USD and NZD/USD have rebounded since yesterday night.

This morning correction for NZD/USD is an opportunity to buy in my view.

Bought 50,000 NZD/USD at 0.7578
Stop level at 0.7535
Target level at 0.7610

Yesterday I had bought 50,000 NZD/USD at 0.7578, stop at 0.7535, target level at 0.7610.

NZDUSD goes above 0.7610, so my position is closed. Profit is US$161.50.