Too long of a hiatus

January 15, 2011 Leave a comment

Hello everyone! With the recent birth of my fourth child, I took WAY too long off. I sincerely apologize I have been gone for so long. With the birth of my son and an unexpected move by the GBP/USD, I took some time off to see where the GBP/USD is headed. Tune in for incoming posts by LattePips!

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Word of Warning

June 11, 2010 Leave a comment

As you grow your skill of Technical Analysis, you’ll read many, many opinions out there. Be careful. As you have with me, read people’s analysis over time. It is VERY difficult to watch someone over time to see that if his/her technical analysis is actually true most of the time, or if they’re just writing their opinions which are wrong most of the time.
Fortunately, all of my analysis is historically documented on my blog. I purposely refer to my prior forecasts and analysis so that it’s readily available and “in your face”, that you, the reader, can see that hopefully everything I have forecasted is true…or at least 95% of the time.

It takes time to find people you trust who provide meaningful analysis of foreign currency pairs. Besides my site, I recommend reading http://www.dailyfx.com for technical analysis of foreign currency pairs. However, I was reading an article the other day written on 06-09-2010 about how the person was targeting lows around 1.4250. The main part of the article said:

“After making a lows around 1.4350, Cable has popped higher to 1.4600 where it has found temporary resistance. Actually, this area has served as a significant area to watch as it was strong resistance back on 5/26 – 5/27, and then as strong support 6/1 – 6/2. Will it hold as resistance now? Maybe so, but in case it doesn’t, I have decided to adjust my stop to 1.4620–just above today’s high.
This locks in further profits ahead of the UK interest rate decision (Thurs, 11 am GMT) and major US data this week (Retail Sales, Fri 12:30 pm GMT). I will continue to target recent swing lows–around 1.4250–and I may close down this trade over the weekend.”

While PipCrawler placed their stop at 1.4620, my trade took their stop out and went further up. While Pipcrawler was targeting 1.4250, I had been saying for the past three weeks that the GBP/USD would move up toward 1.5060.

My point here is that these two traders, myself and Pipcrawler, were going two completely different directions. He was shorting. I was going long. Of course, the GBP/USD went the direction I had forecasted, but the point is…it takes time to find consistent analysis out there. Be careful when reading people’s technical analysis. No one will ever be on target 100% of the time, but they should be providing correct analysis most of the time.

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Coffee Latte first

May 23, 2010 2 Comments

Alright, I’m going to go make myself a coffee latte first, then sit down, and write a new post on how you can make a lotta more pips! Whether the market is going down, up, or even sideways, you can make a lotta pips here at LattePIPs! If you aren’t familiar with what I’m talking about in regard to making profit during sideways movement, pull up a GBP/USD Daily or 4hr chart and look how the GBP/USD was ranging moving sideways from March into the beginning of April. I posted here about my net 466 PIPs during just the first week of April when the GBP/USD was going sideways.

So, I’ll be back in a bit with my latte and begin writing another trade recommendation post here in a second.

Filed under GBP/USD, Stuff

LattePIPs is sporting a new look

May 14, 2010 Leave a comment

How do you like the new look of LattePIPs? These blog themes are kind of nice. I really like this new one. One of the nice features about this new theme is providing two kinds of menus:

  • The top menu show various static pages for general content
  • The 2nd menu displays various categories of content

Anyway, I hope you enjoy it!

-LattePIPs

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