Hello traders!
This is the first video of 2008! I just came back from the Christmas break and I have spent the last couple of days browsing through my charts in order to find trending currency pairs. Unfortunately, it seems like the market is still recovering from the New Year’s champagne drinking! No matter which currency pair I’d look into, it all looks pretty range bound in my opinion as per the last four or five days. So I am yet to get involved in any position myself until those ranges burst to either direction. The good thing though is that once the market decides to get going we should see some interesting moves. You know what they say:
The longer the range, the larger the breakout move!
So I am going to be waiting for those breakout moves to take place. Let’s see if we can kick off the year with some pips in our pockets!
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8 January, 8:36 pm
I am glad it’s not just me.. I was beginning to think my indicators were messed up as nothing is giving me a signal..
8 January, 9:37 pm
Hello Hector,
first of all let me wish you a happy new year 2008.
Thanks for your first analysis in 2008.
I started wondering wether I’m too blind to find trending currency crosses or wether the charts got broke over new years eve. ;)
So, thanks for celaring things up.
Looking forward to the next days.
bastifx
8 January, 11:31 pm
Yeah guys, the charts are rather ugly right now. Let’s give them some time to show their true colors :)
-HECTOR-
9 January, 1:56 am
Hector - Take a look at gbp/jpy on a weekly chart…shows a perfect head and shoulders with a breakout and a pullback to the neckline. If the Dow continues to drop, we could see a 1000- 3000 pip drop in G/J.
Norm
9 January, 10:12 am
It could be Norm. All GBP-crosses actually look bearish on the longer time frames in my opinion.
-HECTOR-