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This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.


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Until next time

happy trading 

Mr Phil Newton or on LinkedIn Phil Newton trader

Week Comm 20 June.

Phil Newton's picture
Anna wrote: giving away smidgings of your secrets huh? This close up here bodes well for continued momentum, providing these close focus supports don't cave on weak Cable lethargy. 38 & 50% of this range (1.80 thru 1.83) offers up yesterdays Asian low camp of 8188 & the bottom hourly Fib @ 150 as buffer zones on any tail off from this high, but there's pretty decent support before it hits those camps. Euro stepped on the gas too, & holding 2175/2200 wouldn't do any harm to the cause. I liked the fact it flirted & held 8200, my entries are looking for that 350 & 1.84 zone, should the $indx oblige by cranking thru this 20dma support. I might get twinkle toes to 'job' it on the intraday if it looks suspect on any p/b again below 8200/180 - other than that, we could be building towards the 1.85/550 upper 240 Fib zone area. That hammer on the index following the negative neutral bar is comforting, but like I said, it needs to take out the 20dma & wrestle thru the 1st line support @ 87.15 to calm the nerves.