Monthly Archives: October 2007

96% chance of FOMC 25 pt cut

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Mind change…dollar weakness favored…

Nice triangle breakout on 1 hour chart…intraday I favour technical analysis of 1 and 4 hourly charts, plus daily to get trend direction and current pattern identification. I use a 5 minute chart to trade off of, with my own proprietary systems on them, plus a 15 minute chart Woodies www.woodiescciclub.com Woodies CCI at default […]

GDP result…

Came out at 3.9%. I was short because I was in a purely technical short trade from the 4 hourly candles (double top) and got lucky here, closing the trade at 10 points profit.
My thoughts on this are that this will increase the chances of either serious concerns over rate cuts or even the unexpected […]

Choppy market…

We see a choppy market.
GDP coming out in 1 hour expected to be lower than last time.
GDP is gross domestic product, general economic indicator.
Later, FOCM minutes released during afternoon US session.
Saxo “bank” gave a prediction that there is a 75% chance of a floor forming for the USD and a 25% chance of a release […]

Long in cable

If you noticed the support forming at 2.0650 and got in on the break of 2.0655 then you might be going for a target of 2.0700.
Recent consumer confidence levels have fallen to a 24 months low which caused cable to test 2.0685.

Last night and this morning…

I exited last night (Asia trade) with 10 points profit after waiting and waiting with 12 points profit for further, I threw in the towel and went to bed.
I have been long from my “one chart wonder” strategy since 8.35 am this morning GMT and will be exiting shortly if the support does not hold […]

Many bearish on the pound…

Position wise, there is a leaning towards selling the pound at the moment.
On the basis of the top formation at 2.0636 I am short in the GBP/USD.

GBP comments…

My charts have been biased towards bullishness on the GBP since the open of the New Zealand session up until now.
I have just scalped a short in GBP/USD based on a turning CCI between 2.0583 and 2.0572.
On the daily chart, volume has been decreasing ovr the last several days. This is a bearish signal.
The majority […]

My gratitude book…

I recently wrote a book called “The Gratitude Book” It will be included as a mentoring document for my forex coaching program members.
I want to publicly thank all of my customers right now, especially those who have supported and encouraged me from the beginning with their ongoing loyalty and continuing commitment.
You can download my gratitude […]

What to do to train yourself in forex? - from a Successful Forex Trader…

Sam here again.
Welcome to the site.
Don’t forget to buy me a coffee at http://www.sambeatson.com/beverage for a bit of fun and I’ll send you a $97 value Newbie’s Guide to Forex Trading 30 minute crash course in forex…
I just finished a conversation with a top financial markets trader this morning…
Would you like to know what he said […]