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  1. #1
    Administrator Martin Kay's Avatar

    Tips Tips Tips - USD/JPY , Oil (10/29-11/5) !!!

    Hello binary traders, new trading week is just around the corner, here are a couple of trading tip for starters.

    Originallyposted by R.Cox. For the full trading briefing click here.

    1. The fundamental and technical picture in oil is starting to show some opportunities with prices now seen at the 61.8% Fibonacci retracement of the long term rally from 77.30. As long as the storm story remains in the news, prices should be supported, and I will enter into weekly CALL options at current levels.

    2. The USD/JPY is giving another opportunity for CALLS with the latest drop and after taking gains on the previous week’s trades I will be looking to re-enter this position at 79.20. This idea can be used for either weekly or monthly CALL options.


  2. #2
    Master Member Bogdan G's Avatar
    Indeed, a Call on USD/JPY seems like a good choice, but at the moment, there is no volume on the pair so maybe we need to wait a little longer before placing the trade. On the Daily chart we have a Tweezer top combined with a Bearish Engulfing. I see all this as the beginning of a retracement so I would rather wait until I see clearer signs of its end.

    All the best

  3. #3
    Senior Member Grae's Avatar
    Ok. Wait and see. It is in an up trend channel though- technically.

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Overall Oil prices r heading downwards. Just 2 days of upward trend is not a good base of upward prediction. It looks like next target of Oil is $80. In my opinion both weekly and monthly trends for oil are in downward direction. Lets see where it goes

  5. #5
    Senior Member Grae's Avatar
    Tomorrow we have the NFP and the October Unemployment rate. Some experts are predicting a bear market for EURUSD. Fundamentally, this may be the case if the two come out superb. And the USDJPY may gain more bullish steam. In fact both USDJPY and GBPJPY are slightly bullish in the recent short term- 1 day. What are your thoughts guys?

  6. #6
    Specialist Member RCox's Avatar
    Quote Originally Posted by M.J View Post
    Overall Oil prices r heading downwards. Just 2 days of upward trend is not a good base of upward prediction. It looks like next target of Oil is $80. In my opinion both weekly and monthly trends for oil are in downward direction. Lets see where it goes

    The basis for the trade was contrarian, not trend. This is why the Fibonacci levels are referenced. Earlier in the week we did see some small moves to the downside but at this stage the trade is trading back around entry levels and there is clear scope for a positive close for the week and a positive outcome for the trade. The next major even risk is the Non Farm Payrolls and the ways this will affect trading in the US Dollar. More conservative traders can exit the position at breakeven to avoid the even risk.

  7. #7
    Specialist Member RCox's Avatar
    Quote Originally Posted by Bogdan G View Post
    Indeed, a Call on USD/JPY seems like a good choice, but at the moment, there is no volume on the pair so maybe we need to wait a little longer before placing the trade. On the Daily chart we have a Tweezer top combined with a Bearish Engulfing. I see all this as the beginning of a retracement so I would rather wait until I see clearer signs of its end.

    All the best
    The USD/JPY continues to press higher after the trade entry and I will be looking to scale in and out of these positions over the long term. Any drops should be viewed as renewed opportunities for CALLS so the main question will be your ability to identify solid exit and entry levels so that risk to reward ratios remain favorable.

  8. #8
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Martin Kay View Post
    Hello binary traders, new trading week is just around the corner, here are a couple of trading tip for starters.
    A call on the USD/yen should pay off in intraday and longer term options. The Japanese are still stimulating their economy while ours is showing signs of increased stabilization and improvements in the underlying economic factors.

    Oil is always tricky, you never can tell when a war, explosion or storm will disrupt the supply/demand picture. Exxon reported in their earnings statement that they had decreased production in the quarter, a fact that has been stated by other oil companies. This will surely help to keep prices stable in the longer term as world demand growth is sluggish. Calls on oil are good but a longer outlook may be required,

  9. #9
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    The basis for the trade was contrarian, not trend. This is why the Fibonacci levels are referenced. Earlier in the week we did see some small moves to the downside but at this stage the trade is trading back around entry levels and there is clear scope for a positive close for the week and a positive outcome for the trade. The next major even risk is the Non Farm Payrolls and the ways this will affect trading in the US Dollar. More conservative traders can exit the position at breakeven to avoid the even risk.
    I agree that oil prices may hit $80 before they hit $100.

  10. #10
    Senior Member Grae's Avatar
    Wow guys. I hope you caught the bear run on Gold, Silver and Dow today. There is also some amazing bear run potential on the JPYs. The GBPUSD is on a downward channel and keeping with the 1 day time frames, you can pick this out.

    I'm just looking at the end of the weeks trading. It was almost predictable that the dollar would strengthen-going into the election week(premonitions and guesswork), but lets see what the next week will hold.

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