Sunday, April 19, 2009
thoughts from Andy
Every Sunday I kinda take a big picture look for the week ahead. Here are some of the things I look at and for. 1) what area of the YEAR/Quarter am I in, and will that make a difference,at this time, we are in the 1st month of the quarter, 3rd week. 3rd weekusually has some USD news,...... 2) what does the day/4hr charts tell me, the possiblities of the nextweek..... So, here we go.... EUR/CAD, EUR/USD,EUR/AUD are all consolidated, but shows a posiblity ofheading short , not really inside the EMA's that make me confortable, butlooking like it wants to drop a bit. Support area's in this would beimportant as I will look at news items and see if the pair is ready... Secondary, I want to look at those and see if they are "out of range" shortor long, if it is short, fine, not much of a problem as it will still be outof range if the pair goes short. USD/CHF,AUD/CAD, long same as above short, so I just reverse what I amlooking for above... Remainder of the pairs are all on the day chart consolidating, within EMA'sthat is a good sign in my book, GBP/Usd, GPB/CHF, AUD/USD,USD/CAD... Now, we check the 4hr setup, what I have done is setup a profile foreach,easy to switch that way. EUR/CAD , EUR/USD, EUR/AUD are all looking the same on 4hr as day, so myexpectations at the moment is that these three will go short for now... They are all "out of range trading ,so I won't do anything to them tillmorning, if anything and the day chart shows a more strengthed move, then Iwould turn on the conservative flag for 1 entry only.. USD/CHF looks to continue the upward move, but the AUD/CAD had retraced onthe 4hr, the USD/CHF is out of range to the long side, so I will sit andwatch/wait on that one. And pay some attention to the AUD/Cad as some tradesmay happen there. The others are fine, each are in range, working and capable of giving metrades, NEWS wise, I am looking at GBP news and AUD/PPI, at 8:30 that maymove the market some, morning is bland pretty much and we would need towatch the AUD tommorrow evening.... Find attached the current spreadsheet.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment