I mentioned in my w/e post how basic trend line breakout trades (TL b/o) trades were working well of late and that theme has certainly continued. There have been hundreds of pips on offer from simply stalking momentum based TL b/o trades and some more ( GBP/JPY, EUR/USD, Gold and GBP/AUD) are still brewing . The results and progress, thus far, are posted below.
Data today: watch out for the BoJ Interest Rate announcement, GBP Manufacturing Production and CAD Building Permit data as well as various Central Bank folk speaking:
Trend Line breakout trade progress:
A/U: this TL b/o trade, stalked since last week, is now up over 100 pips and the A/U looks set to make a daily trading channel breakout as well:
A/J: this TL b/o trade has given 140 pips:
Kiwi 4hr: this TL b/o trade has given 100 pips and I still see the 0.67 as a decent target:
USD/CAD daily: I have been saying that a test of 1.30 might evolve here and we’re just 30 pips away from that. On the w/e I suggested this trade would deliver pips and so far this week there has been a 120 pip haul on this move!
Silver 4hr: the TL b/o noted here on the w/e has now given a $1 move or 100 pips:
Oil 4hr: this potential trade, also suggested on the w/e, has now given a $2 or 200 pip move. Note the potential for a ‘Double Top’ now though:
GBP/AUD daily: I had suggested yesterday this could be a TL b/o trade or, possibly, a new Bull Flag brewing. The bearish TL b/o option seems to be evolving here though:
GBP/NZD daily: this TL b/o daily chart trade and daily TC signal has now peaked at the 1,000 pip level. I’m still thinking at least a test of 2.30 will evolve:
Open TC Signals:
EUR/NZD 4hr: this TC signal is still open and has given 120 pips BUT is slowing due to both EUR and NZD strength. I’m not 100% convinced of this breakout just yet:
EUR/AUD: this TC signal has gone on to give 100 pips BUT there hasn’t been any convincing channel breakout here either…IMHO:
U/J 4hr: this has now closed for -20 BUT I am still waiting here for any channel b/o and won’t take any new TC signal until this evolves:
New TC Signal:
E/J: I’ve had a new TC LONG signal on the E/J but note the building traingle on the daily chart too:
Other FX: there are TL b/o trades to watch for on the GBP/JPY and a huge one with Gold as well as a new TC LONG signal trying to form on the E/U:
E/U: this is trying to print a new TC LONG on the 4hr chart BUT a daily based triangle breakout is also threatening:
GBP/JPY: no new TC signal BUT watch for any TL b/o trade here:
Gold: this is one to watch now as it has broken back above the key $1,145 level and is sitting under a major 2 1/2 year bear trend line:
Cable: trying to bounce but nothing too much just yet and no TC signal:
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