Blackwave Pacific - MAM - Strategy Description & Stats

[Blackwave]

VIDEO: Managed Account Performance Update Click HERE

Any declines in equity markets will likely strengthen the Yen and make good our short NZDJPY basket. In the meantime the DD is just 1.3%, considering the growth rate that is pretty great.

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[Blackwave]

VIDEO: NZDJPY and AUDUSD are correlated to some extent so I'll be keeping an eye on that. Current DD 1.3%. A good month so far. Click HERE

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[Blackwave]

VIDEO: US Dollar Index Performing Pretty Much As Expected. Click HERE.

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[Blackwave]

VIDEO: Managed Account Performance Update From The Algarve click HERE

BIG BIG thanks to the new MAM and PAMM subscribers

[Blackwave]

VIDEO: Click HERE. Closed the NZDJPY trades at key support. Thanks again to the new MAM account subscribers and copy trading subscribers.

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[Blackwave]

Back to 100% Cash

Back to 100% Cash. Looking ahead to the Chinese Data on Friday the Head and Shoulders pattern in AUDUSD could well finally break to the downside. RSI negative divergence points to this possibility. Anyway I have switched from Long AUDUSD to Short AUDUSD and will execute a trade as soon as the moving average turns lower.

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[Gunther]

Good trading again Gary on both Pacific and Australia. Last time you called the direction of the Aus from short to long you caught the bottom perfectly, lets hope you do it again.

Well played Gary


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[Blackwave]

Blackwave Pacific

All eyes turn to China for tonight's 3am GDP number. At this point AUDUSD is ranging which is to be expected however not be lulled into a false sense of security (or impatience) I have set the robot the task of only executing a short trade when technical's permit. In the meantime we still have negative RSI divergence and a simmering Head and Shoulders Pattern to contemplate.

The NZDJPY short trades were the first to be closed out and now that we have had the expected rally I am looking for an opportunity to get short once again and so we are locked and loaded and waiting for a technical confirmation of a reversal.

Blackwave Australia

Not much change here. For the very same reason I have reduced the position size of the long AUDUSD trades in Blackwave Australia and we have begun to accumulate those lower position sizes. As you may know Blackwave Australia trades AUDUSD in both directions at the same time.

Kind Regards,



Gary

[Gunther]

You mentioned your looking to go short on NZDJPY, But you have opened a long trade?


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[Blackwave]

You mentioned your looking to go short on NZDJPY, But you have opened a long trade?


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Gunther,

My trade is correct but my language was wrong. I was in a rush to post and posted incorrectly however the trade is correct. My logic here is that I stayed out of the short trades coming into multi-year support. That support did break but we are now back in the range again and I fancy that we either put in some time here or that we go higher. Therefore I was happy to switch from short to long but in explaining it in a hurry I confused myself. Better to have the explanation wrong than the trade I guess but sorry for the confusion.

Sometimes I wonder does anybody pay attention.....now I know! :-)

Gary

[Blackwave]

VIDEO: AUDUSD Technical Analysis HERE. Yea so I've changed my mind on AUDUSD. Head and Shoulders pattern looks to be breaking to the upside with initial target at 80.00. Significant support at the 75 being the neckline.

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[Blackwave]

VIDEO: Managed Forex Account Performance Update Click HERE. http://www.fxlight.co/managed-forex-...-copy-trading/

In spite of Friday's decline we appear to have held 0.77 for now. A successful break here will challenge 0.75 but in any case my opinion remains bullish AUDUSD. My long NZDJPY may be vulnerable to a flight to risk assets should equity markets begin to decline after more that 10 weeks of higher highs. However we are very close to hitting our long profit target and I would be surpised if we don't with IC Markets as the Tallinex PAMM Account has already hit the target and closed the trades. That said the longer term picture may still be higher as it is closely correlated to USDJPY

[Blackwave]

VIDEO: Click HERE.

AUDUSD broke near term support at 77 and may now look to move lower towards 75 however my longer term outlook remains bullish and I will continue to build a long position. NZDJPY declined sharply in response to no new stimulus from the BOJ and we continue to build long position here too. Shorter time frames are quite oversold and I am looking for a reversal.

[Blackwave]

[COLOR=#000000 !important]MEDIUM RISK: Blackwave Pacific
VIDEO[/COLOR]

[COLOR=#000000 !important]AUDUSD successfully broke support at 75 after the RBOA cut rates and senior Australian politicians made noises about the "overvalued" Aussie. At this point the market is almost oversold on Daily time frames and is vulnerable to a rally back up towards 75 being former support will now provide some resistance. NZDJPY after some dramatic falls through multi-year support now remains range bound and taking it's direction from USDJPY which itself is range bound and remains highly influenced by equity market volatility. Declines in the S&P are causing a flight to the Yen and any stabilisation of equity markets will see bids return to USDJPY and by extension NZDJPY.[/COLOR]

[Blackwave]

[COLOR=#000000 !important]MEDIUM RISK: Blackwave Pacific[/COLOR]
[COLOR=#000000 !important]Considering the RBOA rate cut a 15% draw down is perfectly fine and manageable and in keeping with the risk profile of the account. Waiting for some respite from the Yen rally as we remain long only NZDJPY and of course long only AUDUSD. Any close above 74 on AUDUSD will set us up for a challenge of the 75 being former support but coming from underneath is now resistance. NZDJPY is closely correlated to USDJPY so see below[/COLOR]