Tag Archives: currencies trading ideas

Sterling could recover a bit, but not too much!

Posted on November 24, 2008 by Ramki

Whenever a currency or commodity or stock moves rapidly and too far, it sets itself up for a period of consolidation. As you are aware, Sterling has dropped like a stone from its peak, and after reaching its medium-term target of around 1.4570 (discussed earlier in this blog), the currency has been moving sideways. Today, it looks a bit better bid Continue reading →

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Sterling whips around.

Posted on October 30, 2008 by Ramki

The Forex markets have been known to be very liquid. But today the liquidity was at its lows. Spread on GBP/USD was 15 pips wide for a mere 10 million quote even when London was in full swing. I imagine this must have been the case even yesterday in NY time because the currency just tore straight up Continue reading →

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Sterling chops my neck

Posted on October 24, 2008 by Ramki

I have been looking for Sterling to find support around 1.5850 because that area marked was respected several times in the past 20 years. But today was a different story. Incredible as it seems, we were at 1.75 just 4 days back, and today’s low was 1.5260. That is a cool 22 BIG FIGURES down Continue reading →

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Still think we should buy STG around 1.5850

Posted on October 23, 2008 by Ramki

This is a brief update. I acknowledge it is silly to project the pattern that the market will trace. If I were to do some wishful thinking, then it will be an ending diagonal triangle like what is shown on the chart Continue reading →

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Next dip in Sterling is a buy!

Posted on October 22, 2008 by Ramki

The sharp sell-off in GBP/USD this morning was on the back of comments from Bank of England Governor Mr. Mervyn King that the UK was probably entering recession for the first time in 16 years. The high for Sterling yesterday … Continue reading →

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AUD in a complex correction

Posted on October 21, 2008 by Ramki

Traders often lose money when trying to squeeze additional profits during a complex correction. Wave theory is quite clear. Corrections tend to alternate between simple and complex patterns. Also, the market tends to correct a prior impulse wave both in time and price Continue reading →

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USD/YEN is a sell on next recovery

Posted on October 19, 2008 by Ramki

Anyone who has traded the Yen knows that it is a different animal from the rest of the pack. But there is one undeniable fact about this currency, it is a trending currency. Once it sets off on a trend, it stays with that trend for a long time. Continue reading →

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USD/YEN still a sell on rallies

Posted on October 13, 2008 by Ramki

Sooner or later we are going to get a corrective bounce in USD/YEN. But the downtrend is still strong and we should be willing to try shorts at key levels. If we surge higher today, then you can sell above 101.70 with stops at 101.88. Continue reading →

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