Good news! Autobox v2 is free for download to all active The Alien Room members
Our team has been working on technology to empower our trading and investing. We are happy to share Autobox v2 with all our members. More details here and where to download.
Autobox v2 automatically plots boxes in all timeframes. One of the strengths is auto alerts so you know exactly what to look out for when you are trading. For example, on 20 Feb 2017, there were many alerts showing bullishness in Dax30, EURSTX50, Hang Seng Index, FTSE100, Nasdaq, Down Jones and S&P500. Following which, all indexes continued to break higher.
USD dominates the indecisive market
US dollar has been fickle-minded. As a precaution, I shifted USDJPY trade to a free trade. This trade was exited at break even with no loss. Otherwise, we could have gotten 120 pips profit on USDJPY short. Unfortunately, I chose to exit USDCHF with a loss of 67.5 pips pre-maturely with a view that USD will continue to be messy coming weeks.
Yesterday, DXY (Dollar Index) finally had a day close above 101.30. This should set some bullishness in USD for a short while. But 102 and 103.60 remains strong resistance.
We were short 2 JPY pairs, one in the green while the other slightly in the red. We also have a metal trade as well as short NZD.
Bullish/Bearish Day Close 21 Feb/ Open 22 Feb
If you observe bullish close, GBP is generally stronger as market waits out details from Article 50.
AUD is also showing strength, note this is not the first time that I mentioned that AUDUSD is trapped in very strong resistance on a strong uptrend too.
USD is also showing strength with USDJPY, USDCHF, USDCAD and USDSGD having bullish close.
With EUR showing bearish signals, and GBP showing bullish signals, the best pair is probably EURGBP.
EURJPY is a trade that we shorted at 119.90. If price moves down this trade will give us a reward to risk ratio of more than 3.
From the trading desk of Binni Ong,
to your trading success,