DRTs Trading Room
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thread: DRTs Trading Room

  1. #1
    Member gas's Avatar
    41

    DRTs Trading Room

    Weekly View - Currently at a weekly range top. Placing shorts at current levels into 4801 or much better.

    http://www.morrisfunds.com/storage/f... 1-29-2008.PNG

  2. #2
    Member gas's Avatar
    41
    Dollar Index in a area that is key.

    http://www.morrisfunds.com/storage/f... 1-31-2008.PNG

  3. #3
    Member gas's Avatar
    41
    Short Term Analysis
    Date: Monday, 2/4/2008

    EURUSD (Close 1.4802)
    If you have been following our progress to the Euro, we are brief from last week#8217;s 4891 range top. Currently up 106 ticks. If you're brief, remain brief and follow today#8217;s analysis.

    For Monday I expect the EURUSD to trade down to the 4780 at Asia. This area has the potential to maintain the range reverse and bottom price back to 4850. If this materializes, short-term traders can look to set new shorts on a push up to the 4850 level. Target for the transaction would be 4718. Ideally, risk should be above that the 4895 level.

    In the event the 4780 degree gives way, then continue to hold brief into 4718. Cover all shorts in this level. This will establish our tendency and is a degree that is very important. Whether this degree holds and price moves up, look to set longs to a return . Current target is 4850.

    If price were to move down and settle under 4718 prior to my next upgrade, then I'd look to set shorts on a push back up near this degree. Current target is sold in at 4572.

    NA UPDATE: The EURUSD reached 4850 and has been quickly rejected. You should be brief from this amount with a target of 4718. In order to reach this target, we will need to move down through 4780.

    USDJPY (Close 106.48)

    If you have been following our progress to the Yen, we are extended from last week#8217;s range bottom at 105.70. Currently up 78 ticks. If you're long, remain long and follow today#8217;s analysis.

    For Monday I expect the USDJPY to Check the 106.30 degree in Asia. This is a vital degree and my prejudice is for it to hold. Traders can look to set new longs at 106.30. Target 107.24, if price moves through this area then target 107.75. Exit all longs at this amount and wait.

    In case 106.30 doesn't grip and price settles below this amount, then I'd depart current longs and set shorts near this degree in 106.30 to get a move down to 105.40. Cover shorts here and await value to construct for the next directional move.

    NA UPDATE: Continue to maintain long. Watch the 107.24 degree. This degree has the potential to reverse direction for the session. My prejudice is for this amount to give way, if it will target 107.75.

    GBPUSD(Close 1.9683)

    No prior analysis to follow.

    For Monday I expect the GBPUSD to maneuver down to 9624 at Asia/Europe, if this degree holds price should undo to get a re-test of 1.9682 at London. Short term competitive traders can set longs from 9624 and target 9682. If price continues upward through the 9682 degree, then target 9735 and depart all longs at 9735. Await value to construct. If 9735 holds, then traders should look to set shorts to get a move back down.

    If price moves down through 9624 in Asia/Europe and holds under, then traders can set shorts to get a move down to 9509. Cover all shorts. A move below this level is quite significant.

    NA UPDATE: This worked out perfectly. The pair made a low of 9625. You should have set longs and held through 9682 and exited at 9735. We are currently trading in 9764. My prejudice is down from but I would like to determine value construct and the pair move back under 9735 before putting up shorts. I'd recommend being flat at this point.


    USDCHF (Close 1.0892)

    If you have been following our progress to the Franc, we are extended at 1.0825 from last week#8217;s range bottom. Currently up 25 ticks. If you're long remain long and follow today#8217;s analysis.

    For Monday I expect the Franc to trade up to 1.0926 in Asia/Europe. This amount has the potential to reverse price action; nevertheless my prejudice is for price to keep up to 1.0964. Exit all longs at this amount and await value to construct for further directional details.

    If price moves down in Asia/Europe, Start Looking for 1.0819 to maintain. Traders can set new longs from this amount to get a move up to 1.0964. Risk on this trade should be under the 1.0780 area.

    The key for your Swissy is that the open in Asia, I am searching for price to move up but it isn't completely clear.

    NA UPDATE We did trade up but haven't reached 1.0925 (High of 1.0919). I continue to hold into 1.0925. Watch this amount attentively, if we move through here target 1.0964 and depart. If we move down, 1.0819 is a legitimate target for this particular session. My current bias is up.

  4. #4
    Member gas's Avatar
    41
    Very good morning everyone. Here is this morning what I am viewing.

    4801 is a vital level. See above longer term charts. I would look to set here down to 4697 -4685 area. Risk should be tight on a move up as I suspect we'll move up fairly rapidly in the event the supply in this level is overcome.

    When we move up then aim 4863 area or even better to 4685. I pare at this level and let before going, value develop or would depart.



    http://www.morrisfunds.com/storage/f...usd60 1-30.PNG

  5. #5
    Member gas's Avatar
    41
    I am long up to around 112 to the conclusion of information week

    http://www.morrisfunds.com/storage/f... 1-29-2006.PNG

  6. #6
    Member gas's Avatar
    41
    Fantastic morning everybody. Here is what I am viewing at this moment.

    The 106.87 area is really a key and we're there right now. I'm short term bullish about the USDJPY (see above) so I'd look to put caked on a push through this level. Target is ADV (Adaptive Dynamic Value) in 107.91 or greater. Exit here and wait to construct prior to setting up. Risk should be fairly tight here, as down any move will aim the 105.91 area. If you brief into this level, depart here.

    Good chance now. I think we have ADP and GDP at 8:30 and 8:15, then the FOMC this afternoon. Then again all days are whacky anymore, although it might be a whacky afternoon. When I trade the Yen, I really feel like I am trading US Equity indexes lately.


    http://www.morrisfunds.com/storage/f...py 60 1-30.PNG

  7. #7
    Member gas's Avatar
    41
    This is just another trade that is setting up.

    The USDCHF is trading close to the bottom of its value range. This is a contertrend commerce not for the weak of heart or those with high stress.

    Referencing the 60M chart...

    Look to install if the swiss holds over 0920. Risk ought to be aggressive below this level since a move through here can trade down close to the 0878 level. Goal even better or 1029 for the term.

    Good luck and keep in mind the best transactions allow you to want to throw up.


    http://www.morrisfunds.com/storage/f...range 1-30.PNG

    http://www.morrisfunds.com/storage/f... 1-3--2008.PNG

  8. #8
    Member gas's Avatar
    41
    I do not believe in indors. I believe that both my mind and your mind are way more powerful and forward thinking than a squiggly line on a chart. Everything in trading is a reflection of only one thing. Just one thing things all of the time and that is PRICE. It is. I make decisions based on current value dependent on the distribution of price around an average or most actively traded value place. The lines on the chart represent levels of supply and demand that I decide are critical based on a longer term distribution of price. I believe in simplicity. Trading ought to be made simpler not more complex. We try to build too much stuff to our trading. Calm your mind, clear your charts of whatever except price and transaction based on your own intuition. Ascertain your own sizing and risk. Take your position. Do not second guess yourself. Take your profit or your loss thankfully. Some will, some won't, so what, next. I believe markets are emotional and not predictable, but they are tradable. I do not use fixed ceases, instead I wait for price to violate a place of value I decide would prove me wrong. Once price moves out of the area, I then depart for a loss because I am mistaken. I am wrong very often. I believe that I am right where I need to be as a trader all of the time, every day. I am not searching for some magic moment in the long run that I'll arrive at and be happier or whole. I believe being a single trader is the best profession on Earth. I believe in treating people with kindness and respect I believe I am done know.

  9. #9
    Junior Member elenalopwz_'s Avatar
    19
    I'm long up to around 112 into the end of information week

    http://www.morrisfunds.com/storage/f... 1-29-2006.PNG
    I also like simplicity. . I'll let the usdjpy prove it wants higher prices for now. . Best with it and can it pop up for ya...

  10. #10
    Member gas's Avatar
    41
    Well, seems like I was far off on these transactions. I will let value construct at these new levels and see whether they hold. I'll take another look early morning and see where we're.

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