Boris and Kathy's FX Blog www.bktraderfx.com
10/04/2006
Today's Email Alerts
Alert # 3 Shorting USD/JPY
We want to short USD/JPY once again since the risk / reward is far too attractive to not give this one a try. The 118 barrier seems to be rock solid as we the pair fails to break above that level and the upside down hammer is looking pretty bearish as well. Unless North Korea tests a bomb overnight, we think that this is a nice high probability trade. Dollar bearish fundamentals are too long to list least of which is that NFPs has the potential to stink quite a bit on Friday.
We are shorting here (make sure you get a price at 117.80 or above), with a 118.30 stop (today's high). First target is very conservative, but still respectable 30 pips at 117.50. Target 2 is 116.85.
Alert # 2 CADJPY +53 pips on first lot, +123 pips on second
Time to get out of CAD/JPY. It's trading at 104.55 at the moment. We banked 53 pips on our first lot and 123 pips on our second.
If you went long at 1.1225 in USD/CAD. It traded as high as 1.1293, above the 1.1280 first level of resistance we mentioned yesterday. We recommend taking some if not all of your profits here.
Alert # 1 Pressing the Stop to 105.20
CAD/JPY has moved deep into our profit target territory. We are maintain our take profit at 104.45 for the second half of the position, but having recently moved the stop to break even we lower once again to 105.20 (+60 in the money) to ensure that the trade will be positive on the whole position. Oil dropped below 59 yesterday so hopefully further liquidation will get us to our T2 target.
Alert # 3 Shorting USD/JPY
We want to short USD/JPY once again since the risk / reward is far too attractive to not give this one a try. The 118 barrier seems to be rock solid as we the pair fails to break above that level and the upside down hammer is looking pretty bearish as well. Unless North Korea tests a bomb overnight, we think that this is a nice high probability trade. Dollar bearish fundamentals are too long to list least of which is that NFPs has the potential to stink quite a bit on Friday.
We are shorting here (make sure you get a price at 117.80 or above), with a 118.30 stop (today's high). First target is very conservative, but still respectable 30 pips at 117.50. Target 2 is 116.85.
Alert # 2 CADJPY +53 pips on first lot, +123 pips on second
Time to get out of CAD/JPY. It's trading at 104.55 at the moment. We banked 53 pips on our first lot and 123 pips on our second.
If you went long at 1.1225 in USD/CAD. It traded as high as 1.1293, above the 1.1280 first level of resistance we mentioned yesterday. We recommend taking some if not all of your profits here.
Alert # 1 Pressing the Stop to 105.20
CAD/JPY has moved deep into our profit target territory. We are maintain our take profit at 104.45 for the second half of the position, but having recently moved the stop to break even we lower once again to 105.20 (+60 in the money) to ensure that the trade will be positive on the whole position. Oil dropped below 59 yesterday so hopefully further liquidation will get us to our T2 target.
posted by BKTrader # 10/04/2006 06:18:00 PM 
Archives
09/2006 10/2006 11/2006 12/2006 01/2007 02/2007 03/2007 04/2007 05/2007 06/2007 07/2007 08/2007 09/2007
