Watchlist for Sunday, May 16, 2010
Remember: The purpose of these trade alerts and watchlists is to keep discussion going about what’s going on in the marketplace. It is not my intention to have you trade what I trade, simply to tell you which trades I take that we’ve talked about at the WLWs.
In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.
| Pair | Daily | 4h | 1h |
| CADJPY | Staying in its uptrend and tapped the Daily TL. Could be going for a new higher high…but will be tough to go against the JPY right now. | Left its consolidation, but did it on Friday volume. I won’t trust it until I get a retest. | Looking for a retest of 90 before I short or a close above for a long to the secondary high. |
| EURJPY | Back at the bottom of its downtrend, some retracement likely before further shorts. | Nice wick and spinning top here. Sunday trading may confirm. | 114.50 – 113.65 |
| EURUSD | Had to go to the W charts to get a feel. Friday volume stopped at the bottom of 2008 shadows. | Clean break, but it could retrace on Sunday. | 1.2540 – 1.2350 |
| GBPCHF | Ranging again (surprise!) | 800sma | 800sma |
| GBPJPY | Flirting with old lows again. | Double bottom? Risk-wise that’s hard to buy, but a retracement seems in order | 136 – 131.5 |
| GBPUSD | Nudged into the muddy area of the shadow from the first swing of this consolidation. | Broke a significant level and has already retested. | 1.4620 – 1.4500 |
| NZDUSD | Definitive close below the ugly bounce off of the Daily TL. | 800sma | In the muddy area after the 800sma consolidation and hasn’t retested yet. |
| USDCAD | Finally bounced off of old resistance, now support. | Back to the 800sma | 1.0375 – 1.03 |
| USDCHF | Broke out of its 800sma range, but hit close to 200% on one candle. Have to wait for the bounce. | Impulsive, esp. for this pair…likely to consolidate… | …or retrace. 1.1330 – 1.1265 |
| USDJPY | What a mess. | 93.35 – 90.80 |
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Be good to you
Triffany
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at 
