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Posted on February 23rd, 2010 by James Alliss.
Categories: Tips, Forex.
Rather than updating this blog with boring text, I’ve decided to record everything on video - My analysis in real time.
Watch the latest videos by clicking here.
James.
Posted on February 20th, 2010 by James Alliss.
Categories: Tips, Forex.
Let me start by pointing out that I got the USD/JPY trade wrong. I traded what I saw and was unsuccessful this time but cut my losses and I’m out of that trade. Price action is actually now indicating a bullish move so I’m looking to get in on that over the coming days.
I have just created my first Forex video where I give detailed analysis for a position trade shorting AUD/USD. You can view the video here. I think you could very well learn something new by watching it and see how I view the markets.
I’ll be starting to post more of these videos and sharing the links to those videos here in the blog.
All the best,
James.
Posted on February 16th, 2010 by James Alliss.
Categories: News, Forex.
Today was one of my most profitable ever! I could see risk appetite had returned to the markets so was very confident that GBP/USD and EUR/USD would show bullish price action today. I traded both and made over 200 pips!
I mentioned EUR/USD in my previous post ” I therefore believe the pair will now make its way up to 1.3950 over the coming days. I always trade what I post and I am taking this pair long on a break of 1.3710. I’m not disclosing my stop here but it’s close enough to offer excellent risk reward.”
I didn’t get in @ 1.3710, I actually got in @ 1.3585 on 12th Feb as this was a major low from the previous day. I had the position open since then and closed it today for +132 pips. All my trades can be verified by clicking here.
I still believe EUR/USD will make its way up to around 1.3950 so will look at trying to get back in on a retracement. GBP/USD looks set to make its way to 1.5900 so again I’ll look for a retracement to take it up to there.
POTENTIAL TRADE ALERT!!!!
Now, I’m very excitied to share this next setup with you. This is not advice, this is just my own personal view on how I see things.
USD/JPY looks poised to make a big drop down. Look at the price action, we have had a nice move down and price has been consolidating for days showing a bearish flag formation. Today we just about hit the 50 day SMA and a natural resistance point @ 90.50. As far as I’m concerned this is screaming a short position but NOTHING is GUARANTEED!!! Take a look for yourself and make your own trading decisions. Remember to trade what you see.
Good Luck.
James Alliss.
Posted on February 11th, 2010 by James Alliss.
Categories: Tips, Forex.
I have just seen a very high probability trade setup that I’d like to mention.
EUR/USD long. The pair has reached a major support level backed up by a 1.618% extension and 61.% retracement from the major move. This shows confluence! Price has also tried to take out the 4 hour 50 SMA multiple times and failed. However today it failed again and should have made new lows. Instead of going lower price rejected the 1.3595 area and has shown a reversal signal. I therefore believe the pair will now make its way up to 1.3950 over the coming days. I always trade what I post and I am taking this pair long on a break of 1.3710. I’m not disclosing my stop here but it’s close enough to offer excellent risk reward.
Follow my trading progress by clicking here.
James Alliss.
Posted on February 2nd, 2010 by James Alliss.
Categories: Tips, Forex.
Another short and sweet post here.
I believe that if GBP/USD can break 1.5990 today then we should see the pair reverse and has the potential to move all the way up to 1.6700. My first target will however be a lot less optimistic @ 1.6050.
James Alliss.
Posted on January 22nd, 2010 by James Alliss.
Categories: Forex.
My EUR/USD call was almost dead on. Despite the bearish tone, the pair made a run up to 1.4182. Obama made some comments today about shaking up the banks which had a huge effect on the markets but even with this news, EUR/USD still managed to almost hit 1.4200 as I mentioned yesterday.
I have no idea whats going to happen now until traders digest todays news so I’ll have to wait until Monday.
James.
Posted on January 21st, 2010 by James Alliss.
Categories: Tips, Forex.
GBP/USD dropped like a stone and made a low of 1.6124. I made some nice pips from this trade. I’m now looking at EUR/USD and it looks to me as if it’s turning over and on its way back up.
EUR/USD buy area looks excellent @ 1.4090 with a max 50 pip stop. I anticipate the pair making a move up to 1.4200 provided we stay above 1.4060.
You can AUTO TRADE my signals for FREE by clicking here
James.
Posted on January 19th, 2010 by James Alliss.
Categories: Tips, Forex.
I really don’t have the time to keep updating this regularly now so I’m going to only post high probability outcomes.
I believe that if we break the low of 1.6290 on GBP/USD we should see a significant move down.
That’s it - short and sweet.
Posted on January 6th, 2010 by James Alliss.
Categories: Forex.
Happy New Year!
I’ve been doing a lot of trading over the past few days. There is a lot of volatility, particularly on GBP/USD so I’ve been taking advantage of this. The market looks confused at the moment but although everyone seems to be saying that you should sell sterling I’m not so sure and here is why.
AUD/USD looks bullish, EUR/USD has taken a nose dive recently but the 4 hour chart is showing signs of a potential change in direction. Although GBP/USD is currently in a short condition, if EUR/USD makes a move to the north, it will only be a matter of time before GBP/USD will have to catch up.
So, I think we may see some sterling strength tomorrow but I will only trade what is in front of me.
James.
Posted on December 11th, 2009 by James Alliss.
Categories: Forex.
I had a very annoying day today as my USD/JPY trade was working out very nicely with some +50 pips showing on my live account. I brought the stop to breakeven. Then, 08:30 EST my stop was hit by a spike created by the US news.
The worst part about this was the fact that the market literally hit my stop to the pip and is was 50 pips away and none of the other currency pairs even moved. Then, to add insult to injury, the pair retraced immediately! It was almost like the market just wanted to take me out.
I’m not joking when I say I have seen my stop hit so many times to the pip and then retrace. No matter where I place my stop the market very often seems to gravitate towards it, take it out and then reverse. It’s almost unbelievable when you see it and how often it happens so I try my best not to use hard stops.
Looking at the pair now I still see it higher but I’m not getting back in unless I can see a safe entry.
Moving on to my favourite pair GBP/USD, it would seem that today was a confused day; the market really doesn’t know what to do so neither do I. I can not see any good trade setups at the moment so I suspect that will be me done for this week.
Liquidity is drying up as the big boys take vacation so I’m going to have to take care trading and perhaps stop altogether for December.
If I see anything worth trading then I’ll mention it here.
James.
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