Hi Folks,

We had another great session and after a few technical hitches it was recorded and should be on site later in the day/week and I’ll pop the link up as soon as its done.

I’d also like to do a little self promotion as I still have a few places in my own daily training / trading room that are still available.

I will be closing new members off at the end of the week regardless of if these places are taken.

As FXStreet.com readers you can get the first two months at a 50% discount to the normal subscription.

FX Street Members Discount to my Daily Live Training Room

Recorded session link

Please feel free to contact me if you have any questions about toady’s session or the training room.

Kind regards

Phil

Trading Break Out’s And Other Market Views

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Expert: Phil Newton, Developer of Trading Strategies at Trading Strategies.info
Moderator: Maud Gilson
Start: Wed, Aug 12 2009, 10:00 GMT
End: Wed, Aug 12 2009, 10:45 GMT
Participants: 23 pre-registered participants

Well folks after a slow session for most of the day its looking like we are off to the races with GBP cross rates leading the way fight now.

There are still a few cross rates need to play catch up and they might start to pick up pace as we head into the final furlong

still looking for some break out trades and locking in some good profits now on the early GBPUSD and GBPJPY trades.

Not bad at all by the days end and there is still a photo Finnish to consider

Hope you all had a good days trading

Phil

There is life on planet FX!

OK not much life I grant you that today but life non the less… just enough to fill a petri dish

EURJPY, CADJPY Break outs, waiting for scale out targets

GBPJPY GBPUSD new lows and ATM has started

Still waiting for other cross rates to hit my trigger levels

Nearly a little bit of excitement over lunch as a few cross rates started to move.

GBPJPY finally scaled out and on a free run… looking for 65% ATR to lock in some pips with ATM method

Hi Folks,

Weekend crystal ball thinking about some scenario’s for Mondays trading session. The charts looking pretty interesting again for the start of the trading week and I’m hoping to see the week start with a bang again similar to the start of last week.

Could be pretty interesting now that we have the last round of major news items out the way and has clearly triggered some movement already… just need to see if I get any follow through.

Scenario’s planned for on the video again relative to my trading plan and will need to update those views slightly on new information.

Happy Trading

Phil

Not really much action going on right now. Interest rates out in line with expectations and GBP was a little surprise with the move teat developed, as mentioned in the training room I was anticipating a move down to range support lows at 1.6900 level but not a move through it… a distinct lack of follow through just like post news moves earlier in the week. For me ATR done on this cross rate so I’m looking for a more significant retracement to at least 50% of toady’s price action before committing to a new trade… letting the potential come back in my favour.

Euro and Swissy showing aggressive range reversal set ups and conservative entries just about to set up but not triggered yet. break outs are also still an option here. Although given the time of day doubtful we will see too much movement ahead of tomorrows NFP release.

The only other pair that is setting up for me is EURJPY with a break out.. so far one break even trade and looking for a re-entry.

3 trades so far today 1 stopped out for BE 2 open and managed to break even so the only thing I’m loosing so far today is my time invested in these trades, and to be quite frank I didn’t really expect anything to set up at all today.

Most likely I will see price continue to bounce of current S/R levels until post new tomorrow.

Not banking any profits (at least not yet) but at least I’m certain not to loose any money today.

Hi Folks,

Interest rates out today and NFP tomorrow.

UK and EU Rates are expected to remain the same so it would be fair to assume that I’m not going to see too much excitement today at all. My thoughts in a nutshell are that reports are suggesting economic stability so a rate change would rock the boat at this stage when we are still in the eye of the storm.

Most likely little or small movement post news today and all eyes will be on NFP tomorrow. My pre-news rule kicking in shortly which is if I’m not in a trade prior to new (about 2-3 hours) then I’m not looking for a new trade until after the news. Consolidations keeping me on the side lines in any case and I’m anticipated being on the side lines still.

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, Aug 5 2009, 10:00 GMT
End: Wed, Aug 5 2009, 10:45 GMT
Participants: 18 pre-registered participants

Well it turned out to be a sit on hands afternoon after-all. GBPUSD counter trend trade voided, thankfully, as it meant I didn’t get messed around looking for resumption of the trend moves late into the UK evening.

Intraday trade portions were stopped out for profits earlier on in the day racking up some early profits on the trades.

ATM and profit locking started mid afternoon on AUDJPY and EURJPY.

As well as locking in intraday profits on 1-2 open trades there is still exposure to the movements via the swing / overnight parts of the trades. I will need to assess the 240 min and 15 min charts in the usual way for signs of reversal to start locking in some swing profits.

This has already started on GBPUSD with the earlier reversal bar and +20 secured so far on it and currently open profits of approx 110 pips at the time of this writing.

Right now (17:00 there is no sign or pending sign) that 18:00 will lead me to start locking in the swing profits on the positions. The next assessment for me will be 22:00 just before shutting down for the night. So a 2 min decision at 6 pm and a 2 min decision at 10pm which will keep Mrs N. happy as we can both relax for the evening.

All in all a lovely start to the week and to the month. Just what the doctor ordered after what has been a scrappy July.

Happy Trading

Phil