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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard - USD/JPY, Oil Weekly Expiry 15-22/04/13 !!!

    The new Richard's Weekly Binary Options Trading Briefing is here!

    This week will not be heavy of macroeconomic data, but we will see a lot of corporate earnings reports to guide the next direction in the stock markets. Check Richard’s tips and find the best opportunities for your CommuniTraders activity!

    Originaly posted by RCox.

    In the week ahead, we will not see much in the way of macro data (similar to next week) but we will see a large number of corporate earnings reports to help guide the next direction in stocks. A major focus will be on the financial sector, with several key names reporting their results. This will be a continuation of the Friday report seen from JP Morgan-Chase (the largest bank in the US), which beat fourth quarter estimates with profits of $6.5 billion on improved performances in both mortgage lending and investment banking. Next, investors will be watching CitiGroup and Charles Schwab on Monday, US Bancorp and Goldman Sachs on Tuesday, American Express Bank of America, and Bank of New York-Mellon on Wednesday, e-Trade, Capital One, and Morgan Stanley on Thursday.

    1. With the central bank outlook supportive of carry trades in the currency markets, I am waiting for an area to get back into the USD/JPY after the massive rallies seen recently. I am not a breakout trader when looking at the longer term time horizons, so I will need to see a drift back to support turned resistance at 96.60 and then enter into weekly CALL options for the USD/JPY.

    2. The long term picture in Oil has turned negative, with historical and Fib support at 89.90 giving way last week. This area marks the 61.8% Fib retracement of the rally from 85.20, so now the target changes to expect a full retracement back toward that level in the medium term. 89.90 is now viewed as support turned resistance and I will use this area to enter into weekly PUT options in Oil. If we see some positive earnings this week, we should get a spike into this area and trigger the trade.

  2. #2
    Rookie Member
    USD/JPY is not looking very bullish now? Probably it will have to correct partially the upside movement before it will be ready for new highs!? Oil is really in free falling and if it correct a little bit higher I will also enter put trade, but for now it is too oversold and it is not a good idea to trade there.

  3. #3
    Specialist Member RCox's Avatar
    Quote Originally Posted by goberashan View Post
    USD/JPY is not looking very bullish now? Probably it will have to correct partially the upside movement before it will be ready for new highs!? Oil is really in free falling and if it correct a little bit higher I will also enter put trade, but for now it is too oversold and it is not a good idea to trade there.
    This is the kind of activity I need to see before I am comfortable buying anything: oranges in the supermarket or the S&P. When you try to "catch a falling knife" you get stabbed plenty of times but even when you lose you at least you know you didn't get sucked into the hype and lose because you overpaid.

    USD/JPY is falling off a cliff, scaling in at current levels:

    Click image for larger version. 

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  4. #4
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    This is the kind of activity I need to see before I am comfortable buying anything: oranges in the supermarket or the S&P. When you try to "catch a falling knife" you get stabbed plenty of times but even when you lose you at least you know you didn't get sucked into the hype and lose because you overpaid.

    USD/JPY is falling off a cliff, scaling in at current levels:

    Click image for larger version. 

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Views:	2 
Size:	19.4 KB 
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    I was looking for a retreat to support, just not support so low on the charts. The China GDP was a market shocker, the drop in gold knee-jerk and reactionary. We may have entered into the reversal but it will take more action than yesterday to confirm it. Earnings I think will be good this season and should help get the index back up to retest 1600 if not break it through. AFter that, economic data, 2nd and 3rd quarter earnings guidance and global slowing could finish off the bull once and for all.

  5. #5
    Rookie Member
    USD/JPY has reached support at 95.80 and very fast stopped at the resistance at 98.16. Now it is heading again down, which could lead for new selloff but I think bullish momentum will be visible soon.

  6. #6
    Specialist Member RCox's Avatar
    Quote Originally Posted by Michael Hodges View Post
    I was looking for a retreat to support, just not support so low on the charts. The China GDP was a market shocker, the drop in gold knee-jerk and reactionary.
    I feel like we are getting to a point where "parents are having to discipline their children." The volatility is happening in gold first.

  7. #7
    Specialist Member RCox's Avatar
    Quote Originally Posted by Michael Hodges View Post
    I was looking for a retreat to support, just not support so low on the charts.
    After a rise like we saw previously, you have to wait for an equally drastic correction before getting back in. Otherwise, you just stay out. Missing an uptrend sucks but its not as bad as losing because you got in at the wrong area. Volatility triggered the trade, it looks fine so far. I'm happy with the price I paid.

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