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October 31st 2014. It beginning to look like the Dollar rally has resumed. I managed to make another 3% overnight and I am hopefully on track to increase the account by 30% in October which is a good month and quite timely considering it is also the month that my new company Blackwave Ltd was incorporated. Blackwave Ltd will be an introducing broker and a signal provider to retail clients who will always remain in complete control of trades I place in their accounts.
I scalped EURUSD short overnight. Although we did not close below key support at 1.2605 we did get very close at 1.2607! That was enough for me and although I am already out of the trade it looks like EURUSD may finally close below 1.2605 today and that sets us up for a re-challenge of the most recent low at 1.2499 and a measured move towards multi-year support between 1.21-1.23. 1.40 feels like a long time ago now doesn’t it?
I also scalped Gold overnight and of course this market is highly correlated to the strengthening greenback too. As the dollar strengthens you are seeing gold drop and although I am just as likely to buy it as sell it on these shorter term timeframes, the trend is clearly down towards that multi-year support at $1180.
Wow! A quite fascinating move out of the BOJ allowing one of the worlds biggest central banks to buy Exchange Traded Funds. Naturally the Nikkei 225 took off and it has set up a positive tone for the European session. The FTSE is starting to look sellable.
The BOJ also helped USDJPY take out that previous 110.10 yearly high and so off we go to 115.00. This market is aggressively bullish which the Fed tightening at one end and the BOJ loosening at the other.
Finally I’ve placed a small limit order to sell USDRUB just below last week’s high at 40.60. Yesterday’s enormous outside candle sets up this high probability trade.
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