FX markets are currently closed… please use diversion!

It seems like roadworks are being done in the FX Market this week with several blockages expected and a diversion is certainly needed.

Is the quiet week so far surprising or as expected? As we have been talking about in the LTR this week so far this week is playing out as expected. multi 10cent+ moves over the last few week and coming into the month end and start of new month with a few big figures out at the end of the week (NFP)

As there have been such big moves I expected there to be not too much action for the first part of this week and the start of the new month on Thursday could see some money flow ahead of NFP and failing that perhaps and eary move on Friday.

Until then it really is sit on hand and wait for the set ups to develop which are taking an eternity to develop once again, that is if they set up at all.

keep the faith

Phil

Hi Folks,

Been a few weeks since Ive posted a blog entry due to a short vacation away and boy did I need a break away to recharge my batteries.

Anyways, I’m back in the saddle and I’ll get some regular posts back on the blog when something starts to look interesting. Charts do look a little messy and choppy this week. most likely due to end of month and NFP on Friday, and not to forget the multiple 10cent+ moves Ive missed while on my break away… ah well always another day!

So with that in mind I’ll be starting my presentations again today at the usual time in the usual place

http://www.fxstreet.com/search/contributors/authors/author.aspx?id=27ba7b24-e6e4-4b8b-9443-2457d23752c6

see you all there

Phil

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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Type: Webinar

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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

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, 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