Looking ahead at week 30 and reviewing week 29

Review week 29

Result: 0,7 R up on an open position in EURGBP.
I will move the stop to break even, which is just above Fridays high.
EURGBP - Short - 0,7R up on open position, stop will move to break even

I also placed a long order on the AUDUSD that did not get triggered unfortunately. I'll share the setup in below chart. It was a bit annoying that my order did not get triggered as it was a pretty good setup. I am considering to be more flexible and allow orders to be placed at the 38% fib level instead of the 50% level as long as the R2R rate on the trade is around 2 or more.
AUDUSD - Long - order not triggered


Analysis week 30


Based on my Ichimoku analysis I will be looking for positions in the following pairs.
Short: EURUSD, EURGBP, EURJPY, USDJPY and USDCAD
Long: AUDUSD, USDCHF and Brent Oil
If you want to know how I come up with these directions, you can best see the video in last weeks analysis.

EURJPY - Short - closed friday at ultimate low
Last Friday EURJPY closed below the ultimate low of June the 1st (95,57) at 95,41 making a new all time low. Also all Ichimoku cloud signs are indicating strong bearish momentum; especially the strong (below the cloud) downward cross of the tenkan and the kijun. I will not post suggestions on how to trade this. That is not the scope of this blog and it also depends on your personality, risk appetite, etc. . Monday might be a volatile day with the Troika visiting Greece, so be careful if you enter right away. Next week I will have a look at how I did.

Economic calendar week 30

Next Friday will also be a day with heightened volatility as there will be many figures coming out for both the EURO zone and the USD. Best to stay out of the markets or at least have convincing positions with wide stops.


DateTime Name Country
20120724 09:00:00 Troika visits Greece
20120725 01:30:00 Consumer Price Index (YoY) Australia
20120726 12:30:00 Durable Goods Orders United States
20120727 12:00:00 Consumer Price Index (YoY) Germany
20120727 12:00:00 Harmonised Index of Consumer Prices (YoY) Germany
20120727 12:30:00 Gross Domestic Product Annualized United States
20120727 12:30:00 Gross Domestic Purchases Price Index United States
GMT source: fxstreet.com