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

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

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

So far this afternoon looking like a sit on hands and manage open trades nursing some profits out of the trades I’m in.

Counter trend indications on GBPUSD and considering options for EURUSD which is at its expanding triangle high again.

Rest of cross rates I’m looking at today are still with the trend trades and looking to buy dips in an uptrend (most of rates looking at today are long biased)

Back from lunch and nothing too interesting develop from a new trade perspective developing right now.

CADJPY running nicely over lunch now as well which is always a great thing to see after a break away from the screens and I can now start looking in some profits there with ATM method as well.

GBPJPY and GBPUSD cashed out on intraday portions of trades, swing portions still open. EURJPY triggered over lunch as well and still waiting for scale out at 136.05… its not too far away so should see that shortly.

Assessing for some potential counter trend set ups on the next completed 240 min bar which will be after 14:00 (13:55 as I’m typing this) and a few looking potentially good for it.

Trades running well

GBPJPY GBPUSD ATM started and locking in some pips
AUDJPY CADJPY scaled out and looking for ATM trigger

Direction shift on Euro which stopped me out long in the short term scale out no risk on this trade now also looking for ATM trigger level.

EURJPY Break out and waiting for trade to trigger