Baruch's Forex System Journal

[Baruch]

Quote from rax:

hi baruch,

hi rax,

still long eurusd? nice move there!

Yeah. I wish I were. Took my profit too soon. What about you? Short yen?

 

[rax]

Quote from Baruch:

Yeah. I wish I were. Took my profit too soon. What about you? Short yen?

im flat, too bad.

 

[Baruch]

Quote from Baruch:

No big news today - I suppose:

9.00 GMT: EMU March Industrial Production. But we already know that production in Germany and Italy was down but up in France and Spain.

10.00 GMT: Bundesbank montly report for May.

12,30 GMT: NY FED Mnuf. Survey: Consensus: 35. Prior: 36.
Consensus range: 27,5-36,8. Well, the last number was very high, so most think this one will be lower.

13.00 GMT: Market Capital Flow Data from U.S. Treasury. Could be a surprise. Who knows?

Jimmy Young thinks Capital Flow Data are very important. I agree.
His advice:
If headline greater than 100 - buy dollar.
If headline less than 70 - sell dollar.

www.eurusdtrader.com

 

[rax]

Quote from Baruch:

Jimmy Young thinks Capital Flow Data are very important. I agree.
His advice:
If headline greater than 100 - buy dollar.
If headline less than 70 - sell dollar.

www.eurusdtrader.com

i read the boj stopped their intervetions in usdjpy - so they should be buying less us treasury bonds - so the capital flow could have decreased. and when demand for us treasuries decreases, that would point to a weaker dollar.

ps: thanks for the great eurusdtrader.com link!

 

[Guardian Angel]

with the nikkei down over 344 points and the usd/yen falling no im not short but i wish i were.

i did not put the trade on. big mistake.

 

[Baruch]

Quote from Guardian Angel:

with the nikkei down over 344 points and the usd/yen falling no im not short but i wish i were.

i did not put the trade on. big mistake.

Dear Angel and rax,

Don't cry! You were right. That's important...It gives more confidence to take action the next time.

 

[rax]

Quote from Guardian Angel:

with the nikkei down over 344 points and the usd/yen falling no im not short but i wish i were.

i did not put the trade on. big mistake.

why not go long usdjpy, eurjpy? the long term trend would be with us. maybe the drop today is buying opporunity?

 

[Guardian Angel]

your right.
i still have a chance to catch the 3rd sell trigger most likely later today.

 

[Guardian Angel]

but i was wrong though on the 114.56 buy trigger.
i would have gotton stopped out on that one.

it is most telling / these price triggers located within the 4hr chart.
that is where i got them.

 

[Guardian Angel]

according to the 4hr chart we may possibly have another 120-150 pips more to go to the downside.

if i get hit on the 3rd sell trigger then that should be the begining of the selloff. i will have to wait and see though.