Stay away from markets!

Markets have been over bullish for some time and looks to be consolidation. This is a time to sit on your hands and wait for a market direction. Euro/usd has been water falling from 1.33034 ever since and looking to find a bottom. It is continuing to form a low base while heading down. We are looking for a double bottom variation at the bottom for a long setup, however signs show we maybe be bearish after all.

Market Focus for April 4, 2012 Wednesday

ADP and ISM will both offer widely watched indications for Friday's big jobs report.

Long GBP/USD April 4, 2012 Tuesday

Currencies fell on Tuesday, with the S&P 500 retreating from four-year highs after the U.S. Federal Reserve said it was less inclined to provide more economic stimulus.
Supportive central bank policies have been a primary catalyst for the S&P 500's surge of 30 percent since October, even though improving economic conditions have also played a part in the rally. Investors still expect a pullback, but markets have remained resilient, often cutting losses going into the close, as they did both Monday and Tuesday.

Judging by today's FOMC minutes that stress economic improvement and improvement in Europe, the Fed is moving away from consideration of further stimulus. The minutes pulled down the Dow which ended 1/2 percent lower at 13,199 and they shaved $25 from gold which ended under $1,650. Lack of new stimulus also hurt demand for Treasuries where Fed buying has helped keep rates low. The 10-year yield rose 10 basis points to 2.29 percent.

Looking for a long trade on GBP/USD
Entry: 1.58914
Stop loss: 1.58679
Target profit: 1.59643

Trading results Mar.25.12 to Mar.30.12

Trading results Mar.25.12 to Mar.30.12
Trade 1 -$487
Trade 2 $+1144

Total net profit: $657
Total trades: 2
Winners total: $+1144
Losers total: -$487
Winning percentage: 50%
Risk to reward ratio: 1:2.3

Trade Long GBP/USD March28 2012 Wednesday

Long GBP/USD
Entry: 1.58717
SL: 1.58470
Target: 1.59450
Units: 300000
Resulst: +$1144

Trade GBP/USD March 27, 2012

Long trade GBP/USD
Units: 1780000
Entry: 1.58763
SL: 1.58450
Target: 1.59540

Result: Stoped out at 1.58450. $-487

Trading results Mar.18.12 to Mar.23.12

Trading results Mar.11.12 to Mar.16.12
Trade 1 $1149
Trade 2 $-500
Trade 3 $722
Trade 4 $522

Total profit: $1893
Total trades: 4
Winners total: $2393
Losers total: $500
Winning percentage: 75%
Risk to reward ratio: 1:4.8