Good Day everyone,

In response to a couple of emails that I received yesterday. I was quiet on twitter yesterday because nothing that was going on interested me, it was too slow. I tried to sum it up in the DRIVE THRU blog over the weekend. After so much news last week, we need to go back to basics whilst the markets absorb / consolidate etc. Remember guys, you do not need to trade all the time to make money....let trades present themselves and come to you.

With all of the above on board, looking at the Forex market there are NOW opportunities that I am interested in.

First though, just keep at the back of your mind: -
<p style="text-align: center;"><span style="text-decoration: underline;"><strong>THE ECB IS EASING whilst THE FED IS TIGHTENING</strong></span></p>
The result of this is that the price differentials are now stating to be understood and coming into play. This should, and say once again <strong>should be USD positive </strong>(Do not take this for granted but it should play on the markets and should be USD positive).

<span style="text-decoration: underline;"><strong>TRADE OPPORTUNITIES:</strong></span>

<span style="text-decoration: underline;">EXISTING LIMIT ORDERS:</span>

RT101
EUR/USD
Short at 1.3750
Stop Loss 1.3850
Limit at 1.3500
I was hoping for a continued bounce yesterday, but that never happened and it has been heavy after last Fridays close most of the time. 78.6$ Fibonacci has held up the fall at 1.3538 so far this morning.

I am revising this set-up as follows: -

Entry at 1.3580 (previous big support)
Stop at 1.3670
Limit 1.3000

RT102
GBP/USD
Short at 1.6870
Stop at 1.6995
Target 1.6500
Bounce never happened.

Revised to:
Entry at 1.6830
Stop at 1.6920
Target 1.6500

RT103
EUR/GBP
Short at 0.8130
Stop at 0.8185
Target 0.7800

Revised to
Entry at 0.8095
Stop at 0.8130
Target 0.7800

The other three trades suggested in the DRIVE THRU: EUR/NZD, EUR/AUD and GBP/CAD..I am looking at later....I am NOT again, still not 100% at the moment

&nbsp;

<span style="text-decoration: underline;">ADDITIONAL TRADE SET-UPS ALREADY WITH MY BROKERS:</span>

RT104
USD/CHF
Long at 0.8980
Stop Loss 0.8900
Limit 0.9330

RT105
USD/CAD
Long at 1.0890
Stop at 1.0810
Limit 1.1030

RT106
AUD/USD
Short at 0.9370
Stop Loss 0.9450
Limit 0.8500

I am looking at commodity crosses later and I will tweet these later.....

Good Luck today.

If you are not clear on any of this please do not hesitate to email.

Scott