2 weeks off
Posted on August 14, 2009 at 10:38 in Personal by David AranzabalNo Comments »

Hi everybody,

I’m taking 2 weeks off (the last 2 weeks of August), so I´ll not be able to post more entries till September.

Have a good summer (all of you living in the Northern Hemisphere !!)

BOE. NFP. Pound continues to fall …
Posted on August 7, 2009 at 5:14 in Market comments by David Aranzabal4 Comments »

Yesterday’s BOE announcement sent Pound on a free fall. The Asian session was range bound (as usual) but we got a little move to the downside (as we were expecting) this morning.

Watch out the 1.6700 level as it’s the 62% fib retracement from the previous up leg and double zero.

The price is expecting to be consolidating until NFP at 12:30 GMT.

Watch the charts for more indications:

The Asian channel at the European opening worked like a charm (II)
Posted on August 5, 2009 at 5:37 in Market comments by David Aranzabal1 Comment »

Again Technical levels worked fine at the European Opening. Price went all the way up from support to resistance showing us that we have to watch the patterns that repeat themselves everyday. Consistence is the key in this business.

See the charts for the review: (GBP/USD)

The Asian channel at the European opening worked like a charm
Posted on August 4, 2009 at 5:29 in Market comments by David AranzabalNo Comments »

Pound: After 2 days making higher highs, the Asian channel worked like a charm. The support and resistance levels give us the opportunnity to scalp some pips following the clear patterns:

Price was rejected by the asian support and we had a opportunity to go long at the trendline break. The price went all the way up till the Asian resistance and yesterdays’ high. MACD divergence and double 00 was a clear indication to leave or at least take partial profit to manage your risk.

You can have a look to the chart:

Second leg in Pound gives us 100 pips in one hour
Posted on August 3, 2009 at 5:29 in Market comments by David Aranzabal2 Comments »

After Friday’s breakout in cable (The pair broke 1 month high), this morning we got the second leg just at the London Opening. The price broke the Asian channel and went all the way up till the 150% fib extension of the previous rally. At that time the price even formed a divergence in MACD, so it was a clear indication to close the position or at least make partial profits.

Have a look at the charts: