Boris and Kathy's FX Blog www.bktraderfx.com
10/26/2006
Today's Email Alerts
Alert # 5 CAD/JPY Profit at the Speed of Light
Sometimes the markets move so fast they take your breath away. Such was the case with today's CAD/JPY call whihc collapsed almost the moment that we made it. If you followed us in to the trade ( it was trading at approximately 105.40 when it hit all the mailboxes ) then T1 was hit only 10 minutes later and T2 was just hit a few minutes ago. All in all the trade banked +17 and + 47 points in less than 2 hours.
For those waiting to reshort the CAD/JPY at 105.50 we recommend you cancel your orders. Now that T2 has been reached the trade has matured and if it were to race back up to those levels we would need to revaluate its viability at that time. So for those of you who took the ride - congrats. For those of you who missed it - worry not - there are 250 days in a year and a thousand more opportunities in a lifetime. Our job is to try to pick the best one to succeed. So for now cancel any outstanding orders and wait until the next time. In FX there is no shortage of trades.
Alert # 4 CAD/JPY Fast Moving Markets
As soon as we sent out the CAD/JPY email, the pair collapsed. You must be wondering what to do next. Here's what we recommend if you didnt catch it.
Wait for a bounce up to 105.45-105.50, sell there, with the same stop 105.80 and the same targets (T1 105.27, T2 104.93.
Alert # 3 CAD/JPY Suddenly Vulnerable
Canadian Business Condition Orders deteriorated markedly in October dropping to -13.0 from -2.0 expected as the expensive loonie is killing the Canadian exporters. Yesterday the CAD received a boost from higher oil prices but after jumping 2 bucks yesterday oil is likely to taper off for teh rest of the week as no new event risk lies on the horizon. In the meantime the reality of slowdown in Canadian growth is likely to weigh on the market.
Japan has CPI data out tonight and there is chance it may print hotter then expected especially after solid pricing gain in the services sector from tonight's release. So we like this CAD/JPY short here at and 105.50 with a stop at 105.80 our T1 is 105.27 and T2 is 104.93. As usual move stop to break even if T1 is hit
Alert # 2 Closing Out the NZD/JPY Short
NZD/JPY just hit our T2 target of 77.85 (+85 points). For those of you who weren't taken out of the trade on small spike overnight off our trailing stop at 78.22(+48 points) go ahead and make sure you take profits here. Either way you should have banked either 75 or 112 points on both lots of the trade. Not bad for day's work.
We'll be back with more ideas as price action warrants. In the meantime know that our website is down and we are transferring to a new host by next Monday when the site will be up and running again. Good luck and good trading!
Alert # 1 Managing the EUR/GBP Long
We are getting some queries about the EUR/GBP long rec. from yesterday. As noted earlier for those of you not taken taken out of the trade at 6695 - go ahead and take T1 at 6716 for +10 move the stop to breakeven and target 6732 as T2.
Alert # 5 CAD/JPY Profit at the Speed of Light
Sometimes the markets move so fast they take your breath away. Such was the case with today's CAD/JPY call whihc collapsed almost the moment that we made it. If you followed us in to the trade ( it was trading at approximately 105.40 when it hit all the mailboxes ) then T1 was hit only 10 minutes later and T2 was just hit a few minutes ago. All in all the trade banked +17 and + 47 points in less than 2 hours.
For those waiting to reshort the CAD/JPY at 105.50 we recommend you cancel your orders. Now that T2 has been reached the trade has matured and if it were to race back up to those levels we would need to revaluate its viability at that time. So for those of you who took the ride - congrats. For those of you who missed it - worry not - there are 250 days in a year and a thousand more opportunities in a lifetime. Our job is to try to pick the best one to succeed. So for now cancel any outstanding orders and wait until the next time. In FX there is no shortage of trades.
Alert # 4 CAD/JPY Fast Moving Markets
As soon as we sent out the CAD/JPY email, the pair collapsed. You must be wondering what to do next. Here's what we recommend if you didnt catch it.
Wait for a bounce up to 105.45-105.50, sell there, with the same stop 105.80 and the same targets (T1 105.27, T2 104.93.
Alert # 3 CAD/JPY Suddenly Vulnerable
Canadian Business Condition Orders deteriorated markedly in October dropping to -13.0 from -2.0 expected as the expensive loonie is killing the Canadian exporters. Yesterday the CAD received a boost from higher oil prices but after jumping 2 bucks yesterday oil is likely to taper off for teh rest of the week as no new event risk lies on the horizon. In the meantime the reality of slowdown in Canadian growth is likely to weigh on the market.
Japan has CPI data out tonight and there is chance it may print hotter then expected especially after solid pricing gain in the services sector from tonight's release. So we like this CAD/JPY short here at and 105.50 with a stop at 105.80 our T1 is 105.27 and T2 is 104.93. As usual move stop to break even if T1 is hit
Alert # 2 Closing Out the NZD/JPY Short
NZD/JPY just hit our T2 target of 77.85 (+85 points). For those of you who weren't taken out of the trade on small spike overnight off our trailing stop at 78.22(+48 points) go ahead and make sure you take profits here. Either way you should have banked either 75 or 112 points on both lots of the trade. Not bad for day's work.
We'll be back with more ideas as price action warrants. In the meantime know that our website is down and we are transferring to a new host by next Monday when the site will be up and running again. Good luck and good trading!
Alert # 1 Managing the EUR/GBP Long
We are getting some queries about the EUR/GBP long rec. from yesterday. As noted earlier for those of you not taken taken out of the trade at 6695 - go ahead and take T1 at 6716 for +10 move the stop to breakeven and target 6732 as T2.
posted by BKTrader # 10/26/2006 06:37:00 PM 
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