Looking ahead at week 29 and reviewing week 28
Review week 28
I made 4 trades. Two shorts on the EURUSD. One ended up a -1R loss and the other a 2R profit. At Silver I got stopped at a -1R loss and at the USDCHF I got out before the weekend on break even. I got stopped out as there was some unexpected news by the European Commission about loans for saving Spanish banks causing prices of the EURUSD and Silver to shoot up and than fall again sharply stopping me out in the process. I tell ya, at that moment I was ready to start trading weekly charts only.
|EURUSD - one losser, one winner, return 1R = the power of proper R2R|
|XAGUSD, Silver, Got stopped by a few point before price dropped to my TP|
Updated tradingplanI updated my trading plan to reflect how I integrate Ichimoku Kinko Hyo into my trading. Check it out!
Weekly analysis week 29I made a video of me going through my charts looking for pairs that are ready for trading either long or short. Please see below. I don't look yet for entry signals just for directions to trade in or for signs telling me to stay out of the market.
Coming week I will be looking for price action signals to get me into trades in the following pairs in the following directions:
Short: EURUSD, EURGBP
Long: AUDUSD, USDCHF, NZDUSD, SPX500
Looking at the Ichimoku cloud EURJPY looks like it's getting ready for a move lower. However I will probably not trade it as we have an all time low as support at about the 95,50 level. I would have to take profit before this level and this would almost always result in a below 2 R2R ratio.
Economic calendar week 29
|20120716 09:00:00||Consumer Price Index (YoY)||European Monetary Union|
|20120716 09:00:00||Consumer Price Index - Core (YoY)||European Monetary Union|
|20120716 12:30:00||Retail Sales (MoM)||United States|
|20120717 01:30:00||RBA Meeting's Minutes||Australia|
|20120717 08:30:00||Consumer Price Index (YoY)||United Kingdom|
|20120717 08:30:00||Core Consumer Price Index (YoY)||United Kingdom|
|20120717 09:00:00||ZEW Survey - Economic Sentiment||Germany|
|20120717 09:15:00||G7 Meeting|
|20120717 12:30:00||Consumer Price Index (YoY)||United States|
|20120717 12:30:00||Consumer Price Index Ex Food & Energy (YoY)||United States|
|20120717 13:00:00||BoC Interest Rate Decision||Canada|
|20120717 14:00:00||Fed's Bernanke testifies||United States|
|20120717 23:50:00||BoJ Monetary Policy Meeting Minutes||Japan|
|20120718 08:30:00||Bank of England Minutes||United Kingdom|
|20120718 08:30:00||Claimant Count Change||United Kingdom|
|20120718 14:30:00||Bank of Canada Monetary Policy Report||Canada|
|20120719 09:00:00||ECB mid-month meeting||European Monetary Union|
|20120720 06:00:00||Producer Price Index (YoY)||Germany|
|20120720 12:30:00||Consumer Price Index (YoY)||Canada|
|20120720 12:30:00||Bank of Canada Consumer Price Index Core (YoY)||Canada|