Later this week, looking at the news items out, I would expect some fun and games Wednesday, Thursday and Friday.

Thursday in particular looks really interesting because of Friday. Not only is there the usual round of beginning of the month news items but also Fridays news items have been moved to Thursday due to a US national holiday.

So, what I’m thinking is that there will be effectively a long weekend and could likely expect a similar price action day to that of Monday which was pretty much stagnant.

Fireworks works to be expected Wednesday and Thursday and most likely no action from Friday afternoon.

National holidays in the UK and US usually means that there is significantly less money flow pushing prices around and typically means one of two extremes, either mad dog or dead dog movement. Sadly as is always the case with National holidays you will never know which until the day is done. NORMALLY though it is the latter.

Best advice, after what could be a rocky choppy week with all the news items coming out, is to enjoy a long weekend and take family and friends time, kick back and don’t worry about the markets

Have a great trading week

Phil

Hi Folks,

Today’s video and price action might be showing you a mixed view, is price trending or is price ranging… or is it doing a bit of both.

This really depend on how you view your price action both views could be correct, but which one do you use. If in doubt, stay out and wait for a safe low risk trade which might mean stepping aside for today on some if not most of the rates.

Trading Break Out’s And Other Market Views

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Type: Webinar

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Expert: Phil Newton, Developer of Trading Strategies at Trading Strategies.info
Moderator: Maud Gilson
Start: Wed, Jun 17 2009, 10:00 GMT
End: Wed, Jun 17 2009, 10:45 GMT
Participants: 9 pre-registered participants

Summary:
Learn how to identify and trade overnight trading ranges. A detailed description of what to do, when to do it and why you should do it. Master some simple rules and spot a regularly repeating pattern day after day.

slow paced moves during the UK morning session not providing a great deal of profits so far, in most cases now by time prices reach trigger levels to take action ATR will be done for the day so realistically I’m only looking for triggers to be hit then look for a Fib set up to recapture some profit potential for the day.

On those pairs that I have had a few small trades on I’m into the realms of the majority of ATR being done so again for new trades need to see price retrace by at least 50% before committing to a new trade.

Pairs I’m looking at are the same as this morning EURUSD AUDUSD GBPCHF AUDJPY and if some of the triggers to take action are hit then most interesting pairs for me will be GBPJPY GBPUSD.

All in all looking pretty quiet for the things I like to see before placing a trade.

ATM starting on EURUSD AUDUSD

Break out trade mentioned during video on GBPCHF set up and quick scale out now looking for ATM levels.

Euro looking for a new low to ATM
AJ looking for ATM trigger
AUD looking for scale out and ATM levels

Gm Folks,

I’m a little bit late getting Mondays video uploaded today… its a little bit of a long one so get a cuppa at the ready when you watch it.

As usual running through the cross rates to see what looking hot and whats looking not so hot for the day ahead.

Happy Trading Phil

Phil

Trading Break Out’s And Other Market Views

Sponsored by 
Type: Webinar

Register for this Session

Expert: Phil Newton, Developer of Trading Strategies at Trading Strategies.info
Moderator: Maud Gilson
Start: Wed, Jun 10 2009, 10:00 GMT
End: Wed, Jun 10 2009, 10:45 GMT
Participants: 14 pre-registered participants

Summary:
Learn how to identify and trade overnight trading ranges. A detailed description of what to do, when to do it and why you should do it. Master some simple rules and spot a regularly repeating pattern day after day.

Finally, GBPUSD USDCHF EURUSD developing up some fib set ups for  me. AUDUSD still developing… most likely will leave that one until tomorrow… I’m seriously glass eyed after today

Still waiting for EURUSD AUDUSD USDCHF to retrace a little before committing to a new trade. GBPUSD currently at 61% fib as time of writing for a new fib set up… selling the rally in a downtrend.