Predictions for April 28 – May 2

Back to the 6 major pairs instead of the 17 I did last week.

So far it looks like I’m clearing my goal of 100%+ return per year. Let’s see if we can bump up these results. This week’s goal is 500 pips, with potential of 1,000 if everything goes right.

EURvUSD 1.5593 – We’re looking at a potential 300+ pip upswing this week, stops are important. It hasn’t hit bottom yet… the time to buy will be in 2-3 days. Set your buy limit at 1.55 to make sure you catch it, or maybe even just above 1.54 if you want to be safe and avoid drawdown. A S/L of 50 pips is a good risk-reward ratio. In the long-term we are looking at a DROP for maybe the next 2 months, so this is a short-term trade only… get your pips and get out.

USDJPY 104.39 – Right away to begin the week, short JPY for a quick 40 pip gain over the course of 4-5 hours, or hold it for the week and it should be headed for 103.00 and lower.

USDCHF 1.0363 – Ready to short, T/P at about 1.0100. Put a 50 pip stop on it in case the upwards trend continues.

USDCAD 1.0159 – Trading sideways this week, leave it alone but WATCH FOR BREAKOUTS. Also set a buy limit at 1.0075 in hopes of a quick scalp trade to exploit lower support levels. (See activity on April 23)

AUDUSD 0.9317 – It’s going down for another day or so. Anywhere from 0.9240 and 0.9270 could be a good time to buy. Then keep it to 0.9480.

GBPUSD 1.9827 – This chart is MESSY gapping up and down like crazy, but we can play the channel and exploit some support levels. Buy limit @ 1.9685, T/P 1.9900, S/L 85. The reverse is also true. Short @ 1.9990, T/P 1.9750, S/L 50

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~ by yarcofin on April 27, 2008.

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