Thursday, April 26, 2012

26 April 2012

USDCAD has broken out, much like cable.  Most of the other major FX pairs are still rangebound.  I usually consider CAD a leading indicator so could be a sign of things to come for the USD.

USDCAD daily chart

USDJPY has broken the bear flag for a move lower (4hr chart).  Selling a retest of 81.07 is a nice short entry for a move back to 78.30

Emini S&P fake-out breakout of the range?  Thursdays are often bullish trend days in the US session so waiting to see how this plays out.  Nasdaq is same setup but a channel breakout, not a horizontal range.

WTI June long 104.05 stop 103.90 target breakout of channel
WTI June long stopped out 103.90   (-1R)
WTI June long 103.90 stop 103.70 target break above 104.55 for 110
US Open: AUDUSD long 10370 stop 1.0350 target  104.30 & above
WTI June long from 103.90 banked 50% 104.40 (+1.5R)

Open positions:
EURUSD long 1.3152 stop 1.3132 target 1.33 - half position
EURAUD long 12672 stop 1.2638 target 1.3175 - half position
WTI June long 103.05 stop 102.75 ... open target - half position


  1. Are you using FxPro for trading or for analysis?

  2. Analysis although I have an account. I find if I want to run and look at a LOT of charts at once MT4 uses less juice than other platforms

  3. thanks, I wanted to ask if you can recommend FxPro?

  4. I don't think they are the best and not the worst.
    They don't like algos or EA's and they disable them at night and they are very slow in news but otherwise they seem OK