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FXLR - Live Room Morning Summary - Fri 30 Oct 2009

A very choppy day. Asian session saw sideways markets, European saw whipsaws with no real direction. Cable was particularly messy. Some room members had a great day, catching the CAD rise and the yen buying. There was also a good day for the FTSE guys, who had a nice gap close and then rode the short down to close to 5k, netting some +150pips on the day. A short bias again now there.  FX Total: -18 pips on the day.
 
3 trades:

1 win
1 breakeven
1 loss

Trade Summary:
 
1. short: EUR/USD @ 1.4820  (+0). Channel.
2. long: USD/CAD @ 1.0685  (+14, 0). Channel.
3. short: EUR/JPY @ 134.73 (-25). Momentum

Trade Ideas highlighted:

1. Swissy: descending triangle, broke to the top side at 1.0228, moved to 1.0275.
2. Aussie: triangle, broke at 0.9137, moved to 0.8976. Second possible entry was on break of swing low at 0.9071.
3. GBP/JPY: channel, broke at 150.10, moved to 147.65.
4. EUR/JPY: swing low, broke at 134.39, moved to 132.30.

Happy Trading
FXLR Team

FXLR - Live Room Morning Summary - Thurs 29 Oct 2009

A slow start that became quite good. There was a lot of volatility due to US data.  6 trades in total - +33 pips on the day.

Summary:
 
6 trades
4 wins
1 breakeven
1 loss

Total: +33 pips

1. Long EUR/JPY @ 133.84  (+3). Flag.
2. Long USD/JPY @ 91.33  (+0). Flag.
3. Long GBP/JPY @ 150.73 (+46, +24). Flag.
4. Long GBP/JPY @ 151.23 (-26). Momentum.
5. Short USD/CHF @ 1.0198 (+10, +0). Momentum.
6. Long EUR/JPY @ 135.31 (+13, +19). Triangle.
Other potential trade ideas highlighted, marked and mentioned. 

These were taken by members in the room, with the USD/Yen trade netting +60 pips for one member! Other trades were taken by members too.
 
Trade Ideas:
1. USD/JPY, 15min trendline, broke at 90.48, moved to 91.60.
2. GBP/JPY, inverted head and shoulders, broke at 148.25, moved to 151.60.
3. USD/CAD, swing low break, broke at 1.0778, moved to 1.0660.
4. Cable, ascending triangle, broke at 1.6444, moved to 1.6600
 
Data in US created alot of volatility, with dollar selling across the board. The JPYen was also sold.

Happy Trading
FXLR Team

FXLR - Live Room Morning Summary - Wed 28 Oct 2009

A very choppy day today.  Just one trade officially called, which stopped out.  But others pointed out were taken for profits, rather typically. The Aussie short taken from 0.09105 early on netted +70 pips on the 2nd half for one member.  Well done.  The markets seems to be staying in ranges, and the recent dollar strength has not seen the pairs reverse, meaning we could be in just a corrective phase.

Trades Taken:
1.  Short: GBP/JPY @ 148.36.  Momentum trade.  (-25). 

Trade Ideas Pointed Out:
1.  Aussie.  Break lower on USD/AUD. Trend break short.
2.  Others include longer-term set ups that we sent PDFs out on.  Including: Euro, Swissy, CAD & Aussie. Thes eare all near daily trendlines that we actually highlighted last week.

Happy Trading.
FXLR Team

FXLR - Live Room Morning Summary - Tues 27 Oct 2009

A few trades taken by the guys today on breakouts highlighted, but the only call we did was stopped out at -25 pips.  It was a very choppy & range bound day.

Trades:

1.  Short: GBP/USD @ 1.6314.  Flag trade.  (-25).  We were stopped out by just 2 pips before trade reversed back to entry.
 

Trade Opportunities Highlighted:

1.  Swissy.  USD/CHF. 4hr trendline broke for a possible long trade.
2.  Cable.  GBP/USD. Channel broke to the top side at 1.6381, moved to 1.6438 before correcting. Very volatile during the break so did the make an official call. Order taken by at least one member.  Well done.
3.  Yen.  GBP/JPY.  Channel broke at 150.75, moved on 151.14. A few took this.

This afternoon the US session was also quite dull.  Even the close of US was very quiet.

Happy Trading.
FXLR Team

FXLR - Live Room Morning Summary - Mon 26 Oct 2009

A fairly active day in the room.  Just two official trades taken, but a few more pointed out.  +39 pips on the day.

Live Room Trades:

1. Long: GBP/JPY @ 150.93.  Flag trade. (+10 pips, +0).  Flag.  Typically, after we closed the 2nd half of the trade at b/even the trade reversed again for another +17 pips.  This was taken by at least one member.
2. Short: EUR/USD @ 1.4882. Descending triangle. (+20, +16 pips).
3. Short: AUD/USD @ 0.9172. Descending triangle.  (+16, +16 pips).

Trade Ideas & Setups pointed out as poss breaks:

1. Cable: GBP/USD. Ascending triangle, break level was 1.6385, moved +10-11 pips into profit before moving sideways.
2. Swissy: USD/CHF. Ascending triangle, break level was 1.0174, moved +20 pips. Was not officially called due to the entry in Euro at the same time.
3. Cad: USD/CAD. Flag.  The break level was 1.0646, moved +21 pips. Was not officially called as Euro and Aussie trades were already open.
4. EUR/JPY: Flag break at the 4hr trendline at 137.05, moved +25 pips before consolidating.

All-in-all, not a bad day.  Well done guys.

Happy Trading
FXLR Team.

FXLR - Live Room Morning Summary - Fri 23 Oct 2009

A good day in the room.  +85 pips on the day.  BUt even better for some of the members, with one bagging over +250 pips.  Well done, B. He took the initial trend line that we’d drawn on GBP/JPY, a break possibility that we pointed out, placing his order just under the 153.00 level, closing out for +127 & +146 before entering again for +24 & +16.  Others also took that break.

Trade Summary:

1. short: AUD/USD @ 0.9249.  Channel break.  (+14, +0).
2. short: GBP/USD @ 1.6486.  Flag break.  (+28, +32).
3. short: GBP/JPY @ 150.90.  Flag break.  (+18, +20).
4. short: GBP/USD @ 1.6390.  Flag break.  (+18, +18).
5. short: GBP/USD @ 1.6364. Momentum trade.  (+10, +12).

Other potential trades highlighted prior to breaking but not taken included:

1. GBP/JPY - Small trendline, bearish divergence, break level 152.92. Overall move was to S6 149.94. Few stalling points s4, s5.
2. GBP/USD - Trendline on 1hr was highlighted when the room opened. Break was at 1.6589. Overall Move was to 1.6296.
3. USD/JPY - Double top pointed out by a room member. Trough break was at 91.74. Moved to 91.47.

Here is this morning video summary link:
http://fxlr.s3.amazonaws.com/23102009.swf  (It may take 10-20 secs to start depending on your internet speed.)

Have a good weekend,
FXLR Team

FXLR - Live Room Morning Summary - Thurs 22 Sep 2009

This morning we had 3 trades, with two getting stopped out. Shame.

1. Short - AUD/USD @ 0.9208. Momentum trade (-25 pips).
2. Long - USD/JPY @ 91.47. Flag set up, break (-25 pips). Went 10-12 pips in to profit but then reversed. It dipped below entry, then tested the level again few times. But stopped at a -25 stop.
3. Short - GBP/USD @ 1.6575. A Channel on the 15min chart. (+18, 0). This was frustrating as well, as after closing the first half at +18 pips, the 2nd half was closed at b/even exactly on the pip. No sooner than that pip was hit it reversed again in to a nice +35 pip profit, and after testing the entry level it spiked down 70-80 pips on retail sales figs.

Other trade set ups pointed out included:

1. USD/CHF. The Swissy - a rising support line, broke at 1.0064, went on to test day lows at 1.0035. +30 pips.
2. USD/CAD. The CAD - a rising support line, broke but moved sideways, just a few pips taken by a couple of the guys.
3. USD/JPY.  The Yen - was choppy throughout the day, but pushed higher from our key buy zone. The other Yen crosses followed it higher. A few guys were scalping some pips on all the Yen crosses.

Not a great day for us, but most on the whole did ok with trades shown.

Happy Trading
FXLR Team

FXLR - Live Room Summary - Wed 21 Sep 2009

It was a very quiet morning, but we still managed two trades before the US session:

1. Long EUR/USD @ 1.4946   (+14,+14). Momentum trade.
2. Long AUD/USD @ 0.9277  (+0). Flag break.  Closed at break even.

In the afternoon we also took a trade:

3. Short GBP/JPY @ 151.26  (+12, +20). Trendline break.
We also highlighted 3 more trades, which some members took.

1. Ascending triangle on EUR/USD, with a +24 pips result.
2. An Aussie (AUD/USD) break, which netted +40 pips.
3. A descending triangle on Swissy (USD/CHF), which netted +16 pips.

Quite a good day all in all.

Happy Trading

FXLR Team
www.forexliveroom.com

FXLR - Live Room Summary- Tues 20 Sep 2009

Quite an unlucky day today, really, although some members did well. Just check out the opportunities and bad luck…

This morning we took just one trade:

1.  Long USD/JPY @ 90.24, after a double top formed. (+12, 0).  After we stopped out the 2nd half of the trade at break even by just 2 pips we saw the trade move back in to profit by some +30 pips.

In the afternoon, the US Session, we took two trades:

1.  Long USD/CAD @ 1.0482,  (+12, 0).  A Flag break.  This time the 2nd half of the trade was stopped at break even by just one pip before moving some +43 pips. A shame for us, but many members hadn’t chopped and were very pleased to do even better with the 2nd half of their trades.

2. Short AUD/USD @ 0.9240, (+0).  A Flag break. This trade was +14 pips in profit before turning back and we chose to chop it at break even, just one pip past the break even saw it reverse again to the good for some +60 pips.  Typical of the day.  A big shame for us, but not the guys who were up from +90 to +150 pips on the day.  Well done guys.

The CAD & AUD were taken together at the same time and both closed at same time, with both of them running in to decent profits after the 2nd halves break even stops.  Very frustrating for those of us that chose a b/e stop on the 2nd halves.

We also missed a CAD trade @ 1.0423, which we highlighted in the room prior to the move.  We didn’t have an order set and it broke quite quickly, moving to +100 pips!  One guy had an order set and closed in profit +35 and +70-odd.  He was very happy. But at least we did highlight the possible break before it went, so members got thier chance to take it.

Then just before room was closed we saw flags on EUR/USD, Cable and Aussie, all of which were highlighted and pointed out.  WE closed and then Cable ran +30 pips.  Quite frustrating and unlucky today, but profitable all the same.

Happy trading.

FXLR Team
www.forexliveroom.com

FXLR - Morning Live Room Summary - 19 Oct 2009

Today’s video summary can be heard here:

http://fxlr.s3.amazonaws.com/19102009.swf

Enjoy the summary.  Some more good opportunities highlighted in the room today, with numerous trades taken.

Happy Trading
FXLR Team