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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 January 31st, 2007 by James Alliss.
Categories: News.
On January 26th I said “I believe that if we see the GBP hit $1.9613 and also break through the 50% fibonacci retracement we should expect to see a sharp fall.” It’s now 13:00 GMT 5 days on, the pound has fallen to $1.9510 which happens to be the 61.8% retracement which was my target. I’m now expecting the market to move back upwards unless I can see a solid break through this new resistance area. I’m a happy man as that’s another 100 pip profit, although this was a paper trade whilst I continue to try out a new strategy. That’s 2 trades and two successes with 200 pips in profit! I will update the blog with further developments.
James.
Become a Millionaire
Posted on January 24th, 2007 by James Alliss.
Categories: Tips, News.
Did you notice that the USD reached $1.9914 for one Great British Pound yesterday?
That’s almost $2 for every pound. I have been waiting for the $2 mark to be hit for the last month or so and I feel it could happen very soon. In actual fact, if I see a break of $1.9943 I think the $2 will be hit.
Let’s see what happens.
James.
Posted on December 1st, 2006 by James Alliss.
Categories: News.
The Great British Pound reaches the highest levels since 1990!
GBP has almost hit the $2 mark. What this means is that for every £1 you hand over the counter at your local foreign currency exchange, you’ll get almost $2 in return. If for example a Sony Laptop costs $1,000 you could pick it up for around £500! Now is the time to import those goods from the USA and if you’ve always thought about travelling to the US then do it now. You might want to jump onto the US Ebay site and start grabbing some bargains for Christmas before it’s too late.
I personally believe we’re coming to the end of this solid up move by the GBP due to implied volatility levels, if it does hit the $2 mark (which looks likely) then I will be trading it on the way back down.
James Alliss.
Posted on November 24th, 2006 by James Alliss.
Categories: News.
I’ve been talking about housing quite a bit recently and I really believe the “Housing Bubble” is about to burst in the UK!
I haven’t just pulled this assumption out of the sky either. I read a substantial amount of financial information and this seems to be the view of many economists. The latest person to talk about this is David Miles, Morgan Stanley’s chief UK economist and former adviser to the Treasury. He reported that “a sharp fall in real house prices is likely at some point in the relatively near future.”
No one is sure when this slump will take place but David Miles believes it will be sooner rather than later.
I believe that if everyone is talking about something then don’t touch it! What I mean by this is that every man and his dog are talking about buying houses, so to me that means stay away. Not only this, but the US housing market is in a bad way and history has shown us that our economy tends to almost mirror that of America.
Don’t just take my word for it, even the Financial Services Authority has warned banks to plan for a potential 40% drop in house prices. Lenders have been too relaxed on their lending criteria and things seem to be getting out of hand. They seem to have become very complacent with the fact that house prices continue to rise, but have given little consideration to what would happen if prices fall.
For now I will continue to remain on the sidelines when it comes to housing. If you’re really keen on getting your money into property then maybe you should take a look at Japan. The Japanese hosing market has fallen so sharply that housing has become dirt cheap!
James Alliss.
Posted on November 21st, 2006 by James Alliss.
Categories: News.
I read quite a substantial amount of news on the financial markets and the latest information makes for a pessimistic view.
Are we about to enter a recession?
Well, quite possibly yes as the signs have already started in America. Now if there is trouble in America we tend to get the after affects. Not everyone thinks it’s all doom and gloom but more likely a slow down.
By the end of August UK inflation as measured by the Governments favoured index, the CPI (Consumer Price Index) has risen from 1.1% two years a go to a ten year high of 2.5%. The RPI (Retail Price Index) which is used to gauge wages is even higher at 3.7%.
Commodity prices (sugar, orange juice etc) will start to rise and people will demand higher wages to compensate for the higher cost of living. Because employers have to pay higher wages, they have to charge more which has a spiral affect.
The US housing market also seems to be collapsing. Last month was terrible as the “housing bubble” exploded. There are too many unsold new homes with very low affordability so US builders had to slash prices in order to sell houses. Not only this but the number of repossessions has also increased.
I could go on and on but this kind of talk can get very boring.
The bottom line is, the signs for a recession are definitely there and have already started across the pond so watch out!
James Alliss.
Posted on October 31st, 2006 by James Alliss.
Categories: News.
On October 26th I wrote a small article for this blog about a potential UK Housing Market price crash:
http://www.becomeamultimillionaire.co.uk/blog/?p=11
The latest figures show continued growth. The Nationwide Building Society reported that house prices rose by 0.7% this month which I was personally quite surprised about.
I’m still on the side lines when it comes to housing but will add any new information to the Blog as I get it.
James Alliss.
Posted on October 26th, 2006 by James Alliss.
Categories: News.
Is the UK housing market about to crash?
I know people have been saying this for years now which is why I’ve been standing on the side lines. However, lets take a look at some of the facts.
In one of my previous posts I talked about US House prices falling. Well some would say that they are falling faster than ever now. The Federal Reserve kept interest rates at 5.25% last night so home owners are hoping that this stability may help the housing situation.
Now what about the UK….?
According to Capital Economics, UK house prices have risen 205% whilst in the US the gain is just 103%. Houses are also more affordable in the US too, just 3.9 times the average salary to buy a house. In the UK a home buyer needs about 5.6 times the average wage!
Economists feel that the UK increasingly looks as if it is delaying a housing crash!
Inflation is picking up and interest rates are in an upward trend. As I’ve previously mentioned in another post, the Bank of England is almost certain to raise UK interest rates to 5% in November.
I’ll keep you posted with any information I get on this situation.
James Alliss.
Posted on October 13th, 2006 by James Alliss.
Categories: News.
US Citizens Beware.
The US house prices are falling so if you’ve borrowed money against your house you could be in trouble!
If you were expecting the house prices to continue rising then just be cautious. Many people are borrowing money against their homes in the hope it will increase in value. If the house prices continue to plummet you could find yourself owing more money than your house is worth.
I’m personally very nervous about the markets at the moment because there appears to be too much complacency.
The Nasdaq has seen some impressive growth recently but could things be about to fall? That’s the view of many economists so be careful.
James Alliss.