STATUS UPDATE AND HAPPY HOLIDAYS

Hello everyone.

I've been working on some other opportunities and have not had the time to devote to posting here on the blog. I intend to get back into it sometime this spring.

I am currently involved with a publicly traded company, as president and director. This has been taking all my focus, but I anticipate that I will have more free time to devote to teaching Forex after the next few months.

I enjoyed helping those that I did. I also learned a lot too. I look forward to starting that up again soon.

I wish Happy Holidays to all of you.

Best Regards,

Chuck

fxtradepros@gmail.com

Remembering a Great One

Yes, I've been a little out of the "FOREX Loop" for a few weeks.

We found out recently, the beginning of April, that my dad had a large mass in his left lung and it has also spread to his bones throughout his body. He's been in hospice care since, here at home, with me, my brother, and my nephew Henry. He lived through all of WWII serving in the Pacific, after joining the US Navy at the age of 17, the day after Pearl Harbor was attacked. Born and raised in Oklahoma City, he'd never seen the ocean, and always wanted to. He spent most of his time on a Fletcher class destroyer, Stephen Potter (DD-538), and the aircraft carrier, Hancock (CV 19). After the war, he was stationed at Pearl Harbor.


Dad, when we lived in Iran 1976

My mom, Nancy, was born on the island of Kauai, to Korean immigrants. During the war, she was a singer for the USO. Mom met Dad, when she noticed him, sloshed off his butt, while his buddies took advantage of him and his wallet. She watched from the stage, in the nightclub she was singing at, as my Dad's buddies made him buy all the drinks. When her set was over, she went down to my dad's table and told the other guys to get lost, and she ordered Dad some coffee. They married 3 weeks later, just before Dad had to ship out. He worked 14 hour days since then, in places like Iran, Mexico and Saudi Arabia, until he retired in 1989. He smoked 2-3 packs a day for 70 years, had 5 sons, and survived 62 years of marriage to Mom, who is now in an Alzheimer's care facility. God bless her....


Mom and Dad, Sarcheshmeh, Iran 1977

When we told Dad the diagnosis, he looked at the doctor, and with a smile he said, "I've lived a good life."

Everywhere we've lived, they loved our Dad.

Dad passed away, this past May 28th, at about 6:30, here at home. It also happened to be my mom and his 63rd Anniversary. I'm sure he held out so he could make it 63 years. If you knew him, you'd probably think that too.


Thanksgiving 2008, Me, Dad and my kids

I think I was in denial because it was happening so quick. My friend Jaime was in town... offered to stop by, and I thought it would be alright to step out for a bit. I whispered in Dad's ear that I was stepping out, but that I'd be right back. I told him my brothers, Jim and Homer, were going to be on there way up from Vegas, if he wanted to wait, but if he wanted to go, that we'd be alright, and that we'd watch over mom so he didn't need to worry. I gave him a kiss, and said, "I love you, you old fart."

My brother Bob was by his side when he expired shortly thereafter. Again, it is so "Dad" to wait for his baby boy to leave, and to have his eldest son by his side in the end. I'm sure he wanted to shelter me from it. The funny thing too, is that Bob tried to call my cell several times, to let me know, but it never showed on my call list. My phone never rang. Bob tried calling Jaime's phone, but Jaime left it on the charger in the truck, as we grabbed a bite to eat. I'm sure Dad wanted it to work out that way, so I've got no regrets.

Dad will get full military honors, when we have a joint memorial with Mom, back in Hawaii. They will look down on Diamondhead, where they met back in May of 1947. They will be laid to rest, together, at the National Memorial Cemetery of the Pacific at Punchbowl. While Mom is still with us, Dad's ashes will hang out here with us. We know he wouldn't want to return home, to Hawaii, without Mom.

I know this isn't Forex related, but I wanted to let you all know where I've been, and that I hope to be more active in posting and making trade calls, soon.

I thought it appropriate, to pay homage to a great man. I will always be proud of Dad. He's a prime example of why we call them "The Greatest Generation."

Love and miss you Pop, you old fart!

In Remembrance,
James Francis L. 1924-2010


Dad on my daughter's birthday, 2008

RE: 130 Pip Move On Yesterday's Trade Call

Going into the NY session, the EURJPY did make a break below 127.00, as I suggested we watch for. CLICK HERE to read the trade setup. Price fell to the next support area of 126.50 and rode that out until Tokyo open, where the Yen picked up some momentum and drove the Yen pairs down. This move closed the price gap, formed over the weekend, down to 125.70.

For you newbies, this 130 pip move, equates to a potential +100% profit on the trade. As I've said in the past, "Success is not in the quantity of trades you make, but rather in the quality of trades."

I hope this helped some of you. A video review of the trade is posted below.

EURJPY Consolidating, With Gap to the Short Side

Again, sorry for the lack of posts, but I'm seeing something setting up that has caught my eye.

The EURJPY is consolidating just above 127.00, with the EURUSD finding support at 1.3585 and the USDJPY at 93.50.


In the past, I've written about using the EURUSD and the USDJPY as indicators for the EURJPY. If the indicators break below their support levels, and the EURJPY breaks below the major pshych level at 127.00, we could see the EURJPY make a break down and try to close that gap down to 125.70. That would be a nice 100+ pip move. This next hour or two, going into the NY open is key.

Not Forex Related...............

I've added the link below to the sidebar on the right side of this page. My two greyhounds passed a few years ago, but I think of them everyday. They were amazing, and really changed my life. I was a volunteer with a rescue and adoption group in Las Vegas a few years ago, before I moved here to Reno. It is a cause that is near and dear to my heart.

If you're interested, I'd appreciate it if you'd take a look at their site, by CLICKING HERE.

Enough Said.

Thank you.

RE: USDJPY Trading in Tight Range

The GBPJPY broke it's range for a 50+ pip move down, and the EURJPY made a 40 pip move down after it broke below 122.00. Yes, I know these pairs have potential to move more, but I wasn't expecting a big move. That's why I said I'd be happy for a quick 40-50 pip move, which would test yesterday's lows. Remember not to get greedy. A 40% profit margin on a trade lasting no more than an hour, isn't a bad day's work.

You've got to grab those pips when you can!



Once the USDJPY broke below 90.15, it's move down made the EURJPY and the GBPJPY move 40 and 50 pips, for it smaller move of 19 pips. I liked how the USDJPY was stacking up along the 90.15 support, showing pressure on the sell side.


I hope some of you could see how I recognized that set up, and were able to grab a few pips.

USDJPY Trading in Tight Range

Looking of the Yen crosses to make a break out of the tight range they've been trading in for the past few hours. Watch for range breaks on EURJPY and the GBPJPY, particularly to the downside. Remember to watch the USDJPY as an indicator. I'd be happy to grab 40-50 pips on a quick move.

RE: GBPJPY Closed Trade with 75 pips Profit

Cable is not cooperating, thought the UJ made a nice move below the daily pivot, and the GBPJPY reaching previous support at 143.50. A break below that could see another 50pips. I'm perfectly happy with 75 pips profit.

I'm on Pacific time, US, and have not been keeping London Banker's hours. I'm going to call it a day. If it could hold below 143.75, I would have liked to hold half my position, going into GBP news in 2 hours, with a tight stop at news time, to see if the Sterling is going to remain bearish.

75% return in a couple hours isn't bad. I'll take it!

If I see any trades setting up tomorrow, I will post them here.

Take care, and trade safe!

RE: GBPJPY

90.80 is holding for now as resistance on the USDJPY. GBPUSD broke support at 1.5885 and looks like it wants to carry a bit more. If the USDJPY can maintain resistance and the GBPJPY can break support at 144 and hold, we should see it continue to make a nice little move down, with support at 143.50 and 143.00. Key support to watch on the GBPUSD is 1.5850. 35 pip move down already on the GBPJPY, setting my stop to B/E.

For more frequent updates on this trade, CLICK HERE to go to the ForexFactory thread where I post under the name, "FXDad".

FOREX: Possible Sell Setting up on GBPJPY for London Session

Long time since I made a post. It's been a little hectic with other things I have going on. Anyhow, I just looked at the charts and I see nice supports setting up on the USDJPY, GBPUSD and the GBPJPY. If the yellow support lines weaken and price falls on the GBPUSD and the USDJPY, there will be a nice sell opportunity on the GBPJPY.

Hope the New Year has been good to you so far!

Cheers!