Take a shot at selling EUR/USD

I have been out of the market since before Xmas, but this opportunity looks pretty enticing. The currency exchange forex pair EUR/USD has run up to its 70 day balance point, and I sold BIG with the tight stop shown. I will post sometime soon "The Secret" of money management in fx forex trading.

EUR/USD Sell Trade Update 12/20/2007

The Balance Points continue to move lower as shown on the above J-Chart. Stay the course and look to take profits arounds 1.4085-1.4105.

EUR/USD Stealth Trading System 12/19/07

The "Amazing Stealth Forex Trading System" Click Here! has confirmed the break out of the triangle and the new channel trend lower. Note the indicator lines changed from green to red and blue to yellow with the break lower. Finally the move I predicted using J-Chart on 12/18 is now underway. See that post for details.

EUR/USD Trade Setup for London 12/18/2007

A major balance point is setting up at 1.4424, so I am hitting it big now with stop loss of 1.4444 and take profits as shown

USD/JPY Scalp Trade Setup 12/17/2007

The "Amazing Stealth Forex Trading System"
Click Here! is giving a new sell signal (the bottom line indicators turned red and yellow). Sell now with target of 112.45-50

Forex? What is it, anyway?

Forex? What is it, anyway?
The market
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to read full market background by Easy-Forex™).

Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.

How does one profit in Forex? Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market. The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex™ offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of "your" pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes. Moreover, you cannot lose more than your "margin"! You may profit unlimited amounts, but you never lose more than what you initially risked and invested. You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit. It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa - buy dollar and sell Euro. You don't have to physically possess certain currencies in order to perform "buy" or "sell" with them.

How do I start?

Register (Easy-Forex™ offers the simplest and quickest registration process, no obligation); deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex™); start trading.

It can't be simpler or easier than that. Need help? We'll provide you with 1-on-1 training and service, as much as necessary (Easy-Forex™ offers real people service, live, in your own language).

How do I trade Forex?

You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the "margin" (collateral needed to facilitate the deal. Usually - only a very small portion of the whole deal, say: 1% or 1:100). Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The "freeze" feature is a unique service by Easy-Forex™. When your Forex deal is running (you hold an "open position"), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover, Easy-Forex™ lets you determine a "take-profit" rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions.

Want to know more? Want to get on-line training? Register here (simple, quick, no obligation), we'll be glad to guide you, every step of the way.

Good luck!

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

New Setup for EUR/USD Trade

I got stopped out at 1.4430 for a small loss, so now I have completed a new analysis for the EUR/USD. The Stealth Forex Trading System shows red and yellow on the two indicators shown along the bottom of the upper forex chart. For information on the stealth system Click Here!.
This technical currency exchange trading analysis shows concurrence that the EUR/USD Fx pair is trending lower. The J-chart show the completed move to 1.4480, shown as the upper smaller green fractal "triangle." Taking the balance point from this fractal and making a new prediction using the current foreign exchange price about 1.4440 as the apex, the lower end of the "triangle" leads to the target price of 1.4196.

Summarizing:
SELL EUR/USD below 1.4480, STOP LOSS = 1.4488, TAKE PROFIT 1.4196. You may want to give 10-20 pips cushions on the SL and TP.

FOREX is a serious game. Play it with the pros.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Opening Set Ups for EUR/USD and USD/JPY 12/16/2007

Quick post to open the week, charts will follow. I have just entered the (foreign exchange currency forex fx) market with these trades:

Sold USD/JPY at 133.29, STOP LOSS 133.45, TAKE PROFITS 112.70
Sold EUR/USD 1.4407, STOP LOSS 1.4430, TAKE PROFITS 1.4282

http://blog.bpcminc.com

Trade Updates EUR/USD and USD/JPY

The predicted move from yesterday's EUR/USD forex currency exchange trade setup is complete for a healthy +150 pips. Looks like the EUR/USD will continue lower, but I am out of the market for the EUR/USD since the weekend is here. I generally prefer to be flat over the weekend.

I am still long the USD/JPY at this point as the foreign exchange forex trade setup is still working to the profit target. As the chart below shows, looks like a resonance wall will work to cap the move higher around 114.50. Will look at this more closely as the currency exchange forex pair trades closer to that level, but this will likely be a good place to sell USD/JPY.

Stealth Forex Trading System Charts for EUR/USD and USD/JPY

Realized I did not show these for my trade recommendations. Important thing to see is the concurrence of the red/green and blue/yellow indicators along the bottom of the screens. When they show red and yellow, SELL. When they show green and blue, BUY.

This system is available by clicking here Click Here!

New Trade Set Up for EUR/USD 12/13/2007

Click on the above forex J-Chart for the EUR/USD to see full screen. What we see here is the predicted move to 144.75. So the forex currency exchange trade is to SELL EUR/USD with a STOP LOSS about 146.61 or so and a TAKE PROFIT of 144.75 give or take 10-20 pips.

I focus on the USD/JPY and EUR/USD exclusively, and therefore also sometimes trade the EUR/JPY. I think folks are better of being an expert at one or two currencies rather than attempting to trade the multitude of available foreign exchange currencies. I like the USD/JPY and EUR/USD because they are the most liquid (i.e. most actively traded). As for the EUR/JPY, I trade this pair if my predictiond show the USD/JPY and EUR/USD both moving the same direction since USD/JPY*EUR/USD=EUR/JPY.

USD/JPY Looks Ready to Move UP

Click on above forex J-Chart image to see full size. What we see is the predicted move to 114.32. So, BUY USD/JPY and set SL below 111.68 and TP below 114.32. I usually use a 10 to 20 pip cushion fo the SL and TP. By the way SL = STOP LOSS and TP= TAKE PROFIT. Good trading with USD/JPY currency exchange forex trade analysis.

USD/JPY Finds the Cave 12/12/2007

As expected to USD/JPY currency exchange forex pair could not resist being drawn to the cave. I expect it will spend some time bouncing up and down to "paint" the cave. So, sell below 112.50 and buy above 111.60 until the energy builds up to escape the cave.

Technical Analysis Review for USD/JPY

Click on images above to see full screen image. The top chart shows the overnight forex balance point and New York forex balance point before the Fed announcement announcement of a 25 bps Fed Funds rate cut. These major news events very often send the forex market into chaos as seen with the trade drop, but significantly the forex balance point of 110.36 provided support. As seen in the next chart the USD/JPY forex currency pair has traded back towards the earlier forex balance point. I see the significant "deep cave" within the unmanifested trades that will necessarily occur within the area shown.

Something to think about is that any trade made "now" is paired with a "future" trade, i.e. a stop loss or take profit to close the position. In my way of looking at the "future" of the forex market, the closing trade exists now, but is not yet manifested....that is the closing trade is not yet within the markets present knowledge, but as the market knowledge inevitably grows, another "now" will learn the value of the closing trade. So in essence, all market trades are completely known now. Think about that for a bit and understand the power of J-Chart.

There is a Science to Getting Rich.

Post Fed Recommendation: Buy USD/JPY now

And keep buying on any pullback to 110.20, with SL at 109.84 and TP of 114.48. The key minor balance point of 110.08 provides support after the chaos move lower. The major balance point remains at 114.68 and equlibrium will draw the forex currency pair USD/JPY higher very soon.
If 109.84 gives way, the I expect a move to 108.60 quickly and the pair may remain between 108.60 and 110.10 for a while while the equilbrium stabilizes around the 110.08 balance point. I will post the J-Chart this evening to show everyone what is happening.

USD/JPY Startegy for 12/09/2007

No change from last weeks plan, i.e. still looking for the forex currency pair of USD/JPY to move higher. Can buy USD/JPY now (111.63) with a tight stop of 111.36 and target of 112.56.

USD/JPY Forex Stealth and J-Chart Analysis

Click on images to enlarge

Here I am showing two key tools for technical analysis I use for forex currency trading. J-Chart is my favorite tool for determining support and resistance levels. I will explain this tool more in depth as this blog develops, but for now let me just say this tool lives up to its advertising: "J-Chart is a revolutionary new chart type and unique market analysis tool." J-Chart provides the unique capability of accurately predicting PROFIT TARGETS.

The downside is J-Chart does not always give good indication as to the direction of movement of the forex price. At times J-Chart gives a good information as to where EVENTUALLY the currency pair will trade. But for excellent up to the minute trends of the foreign exchange trade movement, nothing beats the The Amazing Stealth Forex Trading System.

What we see here is the The Amazing Stealth Forex Trading System indicators both showing the USD/JPY forex currency pair trending upward (Green and Blue for up, Red and Yellow for down). The J-Chart shows current USD/JPY currency pair trading at 111.27-30 and predicts price targets of 112.62 and 114.15. The support levels for stop loss are 110.94 and 110.22.

So, in summary buy USD/JPY anywhere above 110.94 or 110.22, depending on your forex trading plan and target 112.62 with extension to 114.15.

New Plan for My Blog, Update USD/JPY 12/06/07 1700 PST and "What about the NFP?"

First of all let's update where I stand with the USD/JPY. Currently I am long with a stop of 111.14. I have tightened the stop to lock in profits. I expect subdued activity in Tokyo and London until the jobs number comes out at 0528 PST. I will be deciding shortly before whether to get out, set a tight stop, or perhaps even loosen up the stops to avoid getting kicked out by volatile swings. I frankly try to spend little time trying to forecast government reports in general and my charts tell me no matter what the number is, the USD/JPY will move higher. That being said, the volatile swings can hurt if you are over-leveraged and/or taking too much risk. So, please back off the risk and if you can take your leverage down. Most FOREX spot brokers lock in your leverage to as much as 400:1 and do not allow you to change it. I use OANDA and they allow me to change my leverage. I will be writing more about money/risk management soon.

As for the changes to my blog, I now realize it is impractical for me to meet my promise of listing every trade in real time. So, if no one objects, I am going to change to posting my market analyses and FX charts regularly, together with my forecasts and trading plans. I will try to be as helpful as possible by giving suggested stop loss and take profits. I think by focusing more on how dead on my J-Chart forecasts are, accounting for the chaos and equilibrium, allowing perfect determination of the balance points, many will benefit. Remember "The Secret" is to "Think and Grow Rich" and there is a "Science to Getting Rich."
http://easy40.com/?id=685

Watch Out for the Break Over 110.81 in the USD/JPY

I am long at 110.60 average rate....let's have fun when we break through here. Let's have gratitude for our service to the market being rewarded so handsomely.

USD/JPY Move Stop Loss

Move Stop Loss to 110.40, locking in profit, maintain target 113.96

IT IS WHAT IT IS

No sense fighting it, buy USD/JPY 110.25, SL 109.97, TP 113.96. The pair is hovering around the balance point of 110.20. As before I think so much activity is waiting manifestation all the way th 114.00, that sooner or later the equilbrium will be drawn higher. Do not worry, I will give the post-mortem of all the loser so far. Past couple of days are down around 180 pips, but the 350+ coming our way will make it up.

New Trade Sell USD/JPY

Sold USD/JPY at 109.68 with SL 110.28 and TP of 108.68.

Back later to do post-mortem review of the loses that stopped out during the London session.

Current Position Update

I remain short the EUR/USD with average rate of 1.4690 and SL of 1.4751. Profit targets are 1.4541, 1.4424 and 1.4262. The shallow cave between 1.4661 and 1.4730 is getting filled in and I remain confident the deeper cave below the balance point od 1.4661 will call the pair lower very soon. If I am wrong then and the EUR/USD breaks through 1.4751, then I will wait for break of 1.4844 to get long.

I am long the USD/JPY with an average rate of 110.54 and SL of 109.98 and profit target of 113.96. Too much unmanifested trades will soon overwhelm the equilibrium building around 110.20. It is possible that pressure from the unwinding of the EUR/JPY carry trade will call the pair to break out lower, but I do not see much sustained move lower with all the activity waiting to manifest above.

"The Secret" for the night is load up on the US Dollar. "Think and Grow Rich" by selling EUR/USD and buying USD/JPY......do it soon, the prices is good and the US Dollar will strengthen. Remember, there is a "Science to Getting Rich"

EUR/USD Update 12/2/2007 2255 PST

Took out short term SL at 1.4661 so now I am selling EUR/USD on any step up towards 1.4750. In other words I am expecting dollar to strengthen and taking the oppurtunities to sell EUR and buy USD.

USD/JPY Strategy for 12/2/2007

Click on chart to enlarge. Nice gap will get filled soon from 111.75 to 112.32. If you are aggressive can enter anywhere above 110.22, otherwise wait for break of 111.36 to get long. Price target is 112.32. Note that you should set your take profit at 10 to 20 pips ahead of the target if you are not going to actively monitor your position minute to minute (whci I do not recommend!)

EUR/USD Forex Chart and Predictions for 12/2/2007

Click on chart to enlarge. I am short at 1.4645. Short-term stop loss is 1.4661 and medium term SL is 1.4751. If breaks through 1.4750, wait for break of 1.4844 to get long. Profit targets are 1.4541, 1.4424 and 1.4262.

Remember "The Secret" is to Think and Grow Rich.

Forex Update EUR/USD

Sorry for the absence, I had some techical issues with my blog, and hope you like the new format. Also I was out of the market over Thanksgiving since the volumes are thin, giving sometimes crazy moves. But, the Thanksgiving week did see the all time high of 1.4967 and as I see it this run at a buck fifty is done. I am finishing up my analysis and will update the charts for you and post tomorrow with my trades and predictions.