coment from jack maverick

Today we have the reward for those who survived the volatility of Fridays Market conditions..Options expiration and triple witching caused all pairs to exceed what had been their current market levels of resistance..The result of the artifical highs and todays resulting market sell off have sold many pairs down to support...Today Im going to give several trades to consider..I also want you to keep a look out for the new website...www.zenforextraders.com
This website is currently under construction and I know you are going to enjoy it..More to come on that in the future..

Lets take a look at these trades now...

EUR/USD long at 1.3880..wait for this trade to come into play based on support and current market conditions..it may in fact sell off to lower support around 1.3820

We are watching USD/JPY for a possible long entry position at S4 at or around 94.04 ..this is current S4 support and even if you dont enter this trade its worth watching for market direction This pair has had some good market correlation with the USD market strength

GBP/USD now heres a pair thats on everyones watch list today..As Im posting this the curent price is 1.6341...Central Pivot of this channel is at GBP/USD 1.6352...Upper resistance on Friday was 1.6550...with lowest resistance to date at 1.6200...If you have a UK Forex Account you can hedge this off the center pivot and trade it up and down the channel...There are many ways to trade this pair and Im sure you have a style that fits yor style and talent....You have to be mentally prepared to surive market volatility with this pair and its for the serious professional only...

Im taking a long look at all the yen crosses and due to thier congruent realtionship with their respective pairs and USD/JY.. I see all them getting close to support...One pair that stands out is AUD/JPY I liked this as a long entry around 76.00 and currently its at 75.71 just below support
I like the AUD/USD and NZD/USD as a buy also at some point soon..Im looking to enter a long Aussie position at or near 0.7850 and the Kiwi at or near 0.6320..These are still the highest yielding pairs and will worth taking a second look at here

Last but not least is the USD/CAD pair..You can read my past commentary in this blog and see how I trade it with CAD/JPY ...Im looking to sell this pair the first day we see some stability and a positive day during the Live NY Trading Session..My target for a sell on this pair is 1.6000..and you know how we trade pairs...when you sell USD/CAD it will be time to enter a long position on CAD/JPY..

One or two parting notes always enter a trade with a trade plan and pre set stop loss...Second keep and eye out for www.zenforextraders.com...Take care and have a great trading day...We Trade...We Teach..We Care...

NZD/JPY limit sell order at 57.85... TP 56.40,GBP/JPY limit sell order AT149.70 TP 147.50, CAD/JPY limit sell order @82.80 TP 81.80, EUR/JPY limit sell order @ 131.94 TP 131.94 TP 130.00,USD/JPY limit sell order @99.77 TP 98.70

Limit sell NZD/USD @58.79..TP @ 0.5760
Limit Sell GBP/USD @1.500/10 ..TP @1.4890
Limit Buy AUD/NZD @ 1.2360..TP @1.2470
USD/CHF Limit Buy @ 1.1300 ..TP @1.1447

SEll EUR/USD at market when USD/CHF order fills

Buy AUD/JPY at 69.55 SL at 69.15..TP at 70.30

Limit sell order on AUD/USD at 0.7200
take profit at 0.7150 and 0.7100 40 pip SL

When the AUD/USD Limit Sell Order is triggered buy EUR/AUD at market and follow AUD/USD for your take Profit Signal

Pairs still havent topped out yet standing aside on trades today until I see some clear signals. To much volatility related to the G 20 Summit in London.

something to look at today...

Lets place a Buy order for USD/CAD at just a little higher than yesterday at 1.2530
then when that buy is hit sell USD/JPY at market 70 pip TP on USD/JPY ,TP on USD/CAD is 1.2640 and dont forget to place your SL at 40 pips stop ;-) have a nice day...