Trader456's trading ideas

[trader456]

1. After speech by Fed Chairman and Secretary Treasury this week, market seems to have gathered some confidence in USD.
Double-bottom formed for USDCHF, stochastics turning up. I guess its time to buy USDCHF.

Bought 50,000 USDCHF at 1.0156
Stop level at 1.0100
Target level at 1.0230

Chart: Forex and Binary Trading: Double-bottom formed for USDCHF


2. EURJPY again shows upside potential as it attempts to move higher again. Stablised Asia stock market has helped to weaken JPY, helping to push EURJPY higher.

Bought 50,000 EURJPY at 166.34
Stop level at 166.34
Target level at 167

Chart: Forex and Binary Trading: EURJPY again shows upside potential

[trader456]

My indicator has shown buy signal for oil.
On the chart, oil is trading in a range of $132 - $146.
Currently oil price is trading at $134.29, so it is near to the bottom of the range.

Any geopolitical events or supply disruption can easily spike oil price up towards $140 again.

Bought 1 lot of supermini oil at 134.29
Stop level at 129.29
Target level at 142.50
Value of $1 is US$100


Chart: http://allaboutoil.blogspot.com/2008/07/time-to-buy-supermini-oil.html

[trader456]

Originally Posted by trader456

2. EURJPY again shows upside potential as it attempts to move higher again. Stablised Asia stock market has helped to weaken JPY, helping to push EURJPY higher.

Bought 50,000 EURJPY at 166.34
Stop level at 166.34
Target level at 167

Chart: Forex and Binary Trading: EURJPY again shows upside potential

Today I bought 50,000 EURJPY at 166.34, stop level at 165.38, target level at 167.

EURJPY goes above 167.00, target level reached. Profit is US$313.27.

[trader456]

Today is a day of US dollar strength.

USDCAD looks oversold on the daily chart.
On the 10 min chart, USDCAD is trading sideways, which to me means USD has not run up yet against CAD.

Bought 50,000 USDCAD at 1.0025
Stop level at 0.9980
Target level at 1.0060

Chart: Forex and Binary Trading: USDCAD is oversold

[trader456]

Originally Posted by trader456

1. After speech by Fed Chairman and Secretary Treasury this week, market seems to have gathered some confidence in USD.
Double-bottom formed for USDCHF, stochastics turning up. I guess its time to buy USDCHF.

Bought 50,000 USDCHF at 1.0156
Stop level at 1.0100
Target level at 1.0230

Chart: Forex and Binary Trading: Double-bottom formed for USDCHF

Target level reached for USDCHF. Profit is US$322.86.

[trader456]

Oil price had fell $17 last week mainly due to concern about weak US economy. I think oil price is oversold now.

I had bought 2 lot supermini oil at average price of $132.72
Stop loss level at 127.50
Target level at 142.50
Value of $1 is US$100

[trader456]

There are 2 main drivers for precious metals: rising oil price and falling USD. Today oil price has rebounded after falling $17 last week and USD has continued to depreciate. Hence this is a perfect setup for precious metals to rise higher.

On the chart, middle band of bollinger had supported silver price. I believe silver price is going to move higher from here.

Bought 1 lot of Silver at 18.40
Stop level at 17.98
Target level at 18.80

[trader456]

Though I am very bearish on US dollar, there are times which market think that USD is oversold and wants to buy them, and there are times which market think that USD will weaken further so market sells them.

I think this week we will see US Dollar weakness. To tap on US Dollar weakness, I like to buy the high yield currencies and sell US Dollar.

We are likely to see AUDUSD reaching parity over the next few months.

Bought 100,000 AUDUSD at 0.9765
Stop level at 0.9690
Target level at 0.9830

[trader456]

Originally Posted by trader456

There are 2 main drivers for precious metals: rising oil price and falling USD. Today oil price has rebounded after falling $17 last week and USD has continued to depreciate. Hence this is a perfect setup for precious metals to rise higher.

On the chart, middle band of bollinger had supported silver price. I believe silver price is going to move higher from here.

Bought 1 lot of Silver at 18.40
Stop level at 17.98
Target level at 18.80

I had bought 1 lot of Silver at 18.40, stop level at 17.98, target level at 18.80.
Stop was triggered, loss is US$420.35.

Michael Steinhart
“Good trading is a peculiar balance between the conviction to follow your idea and the flexibility to recognize when you have made a mistake. All great traders are seekers of truth. The markets are always changing, and the successful trader needs to adapt to these changes.”

[trader456]

GBPUSD has buy signal on the daily chart.
Hourly chart is pointing up as well.

Bought 50,000 GBPUSD at 1.9901
Stop level at 1.9862
Target level at 1.9941

Chart: Forex and Binary Trading: Bought 50,000 GBPUSD at 1.9901