Thread: Trend of the Day

Thanks again.

Originally Posted by Gregory McLeod

This baby may not give us much of a pull back. I would look to buy a 2 pip break above the 1.6741 high with a stop just below the 4 hour swing low 1.6656.

Originally Posted by Kimaki

Thanks again.

You are always welcome.

Originally Posted by Elle

!Thanks a lot Greg!
Have a great weekend.

De rien! You too! You get to start yours a little earlier than we do here in the States.

Funny...I see a little good French there. Merci!
Not only we begin the weekend early overthere but we also have the full Sunday when here in the US the first day of the week is Sunday:-)
Ok see you Monday.
It's always a pleasure to read you.
Best,
Elle

Originally Posted by Gregory McLeod

De rien! You too! You get to start yours a little earlier than we do here in the States.

Retail Traders Trying to Pick Kiwi Top

NZD/USD hit a new yearly high of .7087 on Friday and the FXCM Speculative Sentiment Indicator shows that 3 traders are short for every one trader who is long. This is a contrarian indicator that tells me that this strong uptrend will more than likely continue. As prices start to rise against these traders, a short squeeze condition could take this pair toward its old August 2008 high of .7214. Look to buy the 2-pip break out above .7087 or drop down to a 4-hour chart and use your favorite oscillator like Stochastics or RSI to indicate a buy signal from the oversold area.


You can have access to this very powerful indicator for free as a live account client. Click Here to get started for as little as $25.00

Hey Greg, on the ball early this week I see, don't forget to finish up the weekend quietly, you know, "all work and no play"... Appreciate it though. Keeping an eye on NZD/USD for that signal. We closed the last week looking for a signal on GBP/USD to go long, and EUR/USD to retrace before continuing long, do you think these two are still in the mix?

Originally Posted by Gregory McLeod

Retail Traders Trying to Pick Kiwi Top

NZD/USD hit a new yearly high of .7087 on Friday and the FXCM Speculative Sentiment Indicator shows that 3 traders are short for every one trader who is long. This is a contrarian indicator that tells me that this strong uptrend will more than likely continue. As prices start to rise against these traders, a short squeeze condition could take this pair toward its old August 2008 high of .7214. Look to buy the 2-pip break out above .7087 or drop down to a 4-hour chart and use your favorite oscillator like Stochastics or RSI to indicate a buy signal from the oversold area.


You can have access to this very powerful indicator for free as a live account client. Click Here to get started for as little as $25.00

The yesterday evening move south on NZD/USD confuses things a bit. But seems to be hitting some support at .69688.

I have a feeling the EURNZD is a better choice over the NZDUSD as the USD has picked up some strength from somewhere. The EUR is much stronger in the EURUSD pair also. Still learning rapidly, and just my thoughts.

Originally Posted by Kimaki

The yesterday evening move south on NZD/USD confuses things a bit. But seems to be hitting some support at .69688.

Hey TB,
I agree with you too. And EUR/NZD gained 200 Pips last night. (spread 9.2 though). But I would stick to whatever God Greg sees. Following his predictions/strategies after so many months helped me believe in what I see.
I was looking for something that doesn't even exist. You know..the secret formula to make it fast in this business:-)
Ok for this AM my choice is like always EUR/JPY . Almost 100 pips since 7.00am
Good luck to you!

EUR/JPY Double Bottom


Euro Yen has retested the 131.00 lows of the beginning of the month and have bounced sharply from this area to regain the upward trend line. Look for 136.00 as the next destination of this pair.

Good morning Greg, Eur/Jpy just gained about 246 pips in a little over 24 hours, are we waiting for a retrace or move down in the SSD before entering?

Originally Posted by Gregory McLeod

EUR/JPY Double Bottom


Euro Yen has retested the 131.00 lows of the beginning of the month and have bounced sharply from this area to regain the upward trend line. Look for 136.00 as the next destination of this pair.

Originally Posted by Kimaki

Good morning Greg, Eur/Jpy just gained about 246 pips in a little over 24 hours, are we waiting for a retrace or move down in the SSD before entering?

Good morning to you. We may get a pull back to the 200 SMA at 133.07 or the trend line at 132.63.

Hay Greg I asked you about these pairs yesterday, now I have NZD/USD and USD/JPY to add to the list.

Originally Posted by Kimaki

Hey Greg, on the ball early this week I see, don't forget to finish up the weekend quietly, you know, "all work and no play"... Appreciate it though. Keeping an eye on NZD/USD for that signal. We closed the last week looking for a signal on GBP/USD to go long, and EUR/USD to retrace before continuing long, do you think these two are still in the mix?

I have serious problems with my entry when a pair has been overbought and I am looking to long as well as when its oversold and I am looking to go short. I know that a pair can stay oversold or overbought for a long time while reaching new highs, and can do this with little or no retrace. That's whats makes the entry hard. Gets me every time.

Originally Posted by Kimaki

The yesterday evening move south on NZD/USD confuses things a bit. But seems to be hitting some support at .69688.

NZDUSD look like its turning however a solid test of the 2-hour .6958 low or the .6922 would be more inspiring.