Clarencebeeks - jinxer of chart patterns extraordinaire - has spotted a clear head and shoulders on the kiwi. Check it out on the 1 hour, it's as clear as day.

I am going long nzd/usd later tonight. I think USD/CAD is about done. Maybe another push into 1.27 but i doubt we will see 1.30 again anytime soon. We'll probably start heading lower in a couple of days to coincide with an upswing in oil and the indices.

Mike

You might want to look at AUD... I just went long.. spec play

Closed out AUD for a scalp. Short NZD for a much longer hold. I see an already broken HnS on the hourly/4h... Doing some pattern work here.

Bleh - looking at daily NZD it was a bad idea. Closed out for a small profit and will watch. Am short USDCAD on the nice star off SR, and long eurchf on the nice daily RR off SR...

Decided finally to switch to slow mo trading - use daily for ideas, hourly for entry or trailing stop...

Noice

Pulled 150 pips out of usdcad short.. out at support.

Still in Eurchf long, locked it in for a free ride. Will recheck all charts after daily candles are completed.

I think this is closer to how you trade right beeks?

Yeah that's pretty much it, Zen.

I have been consistently wrong on the general direction of pretty much everything this year, and yet I am still up 9% for 2009.

Price action across multiple time-frames, allied with the most basic, clichéd money management principles (cut losses short, let winners run until they turn) definitely works.

Well when the bear is over we should start our own hedgefund then. Good times.

A hedge fund based in San Diego and Aberdeen would be have all time-zones covered. I am thinking of the start of 2011, as soon as the radiation levels start to drop.

Hopefully Maxpowers will join us as well, as that was a great call on Kiwi - and I have NO CLUE what he saw that made him go long - as that H&S looked flawless.

Which is just symptomatic of how wrong I have been all year.

:)

Shorting EURCAD.... Weird pair, looks like a good play on 1D and 1H...

GBPCad looks good too as a short but obviously is the same trade... Someone else can take that one.

I think a short of NZD from 5850 to 5740 is in order tonight. Anyone looking at that?

Clarence,

On the Long NZD @5550 I saw that bull flag forming on the hourly. The drop from 5700 was total BS so I was prepared for it to backtrack. Look at EURUSD, same thing going on in it right now. Big drop from 35xx to 31xx only to retrace the whole drop now. I suspect that the bull flag on EURUSD wrong way break was totally BS too. I still stick by my thesis that we should potentially test 42xx to 44xx by mid April thus this Bear Rally in equity should last another couple of weeks.

Mike

flat - closed EURCAD because it looks like euro and cad moves may be done - more likely I think EURCAD will consolidate from here. Out for now, will most likely not look for anything else until Monday afternoon.

Took a look at everything - USDCAD and USDCHF look good for longs on the daily but the structure on the hourly chart is too dangerous.. Nothing else looks close to a turn. Out until tomorrow...

Still dont see anything I like yet...

Me neither, Zen.

Instead I am watching a youtube documentary about the siege of Stalingrad. I like the USSR strategy of sitting out the initial Nazi advance during the summer of 1942, waiting for conditions more suitable for their style of play (i.e. the winter), before striking.

http://www.youtube.com/watch?v=XHVxG3UYk....

how apropo...

I'm starting to really, really like AUD/JPY as a long - the RBA is saying they're more or less done cutting, which makes perfect sense given that their economy seems to be doing pretty well (http://www.bloomberg.com/apps/news?pid=2.... while contrast that to the Japanese... well, lets just say it's really not looking too good (http://www.bloomberg.com/apps/news?pid=2.... Add in the 3% benchmark and even if it's cut a little more it would still remain one of the higher rates in the majors. Majority of technicals look bullish on the Daily chart as well.

What do we think?

Kirk

I am looking to go long chf/jpy @ 85.80 to 86 with a target of 102.

Mike

Long EUR CHF - rebound today confirms a higher low, sitting on a support level that was resistance. COuld also buy the euro but the chart isnt as solid IMHO...

NEVERMIND - taking it off.

Flat. Something tells me I should wait another day here. Turn indicators arent looking right yet... Better safe.

OMG hard short on USDCAD... NICE retest of the TL break. AAAAAOOOOOGGGAAAAAA

Also - long on EURGBP...

Flat - man I hate that 'wiggle'... I never make money on that pair.