Saturday, January 8, 2011

Second week in January 2011 Overview

AUD/USD
There may be further down looking at the large past week candle. Might be shorting it if it breaks, re-test the trendline and also breaking the 0.9850 area.











USD/JPY
The previous week candle displays a BUOB but on the Friday candle, it ended up as a not that perfect bearish pinbar. Might be taking a short if it goes does and retest the 83.00 area.












EUR/USD
The previous week candle ended up as Bearish Outside Bar (BEOB). It may go further down but will only go short if it passes the 1.2850 area.












GBP/JPY
Previous week candle was a Bullish Outside Bar (BUOB). There may be possible long if it pierce through the 129.50 - 130.00 area depending on the price action. But may be risky since it is still on a down trend when looking from a zoomed out chart.











NZD/USD
Previous week bar looks like an inside bar. It may may north or south but looking at the daily bar, it might go down. Might be shorting if it retest 0.7650 but also depending on the price action. Caution should be taken since it still on an up trend.










*Note: Remember to watch out to not get caught in between of co-related pairs.

Monday, November 22, 2010

22/11/2010 Short GBP/USD [Close]

This trade is also mostly based on the Monthly & Weekly RSI. Probably going to take profit fast if it does go down.

Trade: Short GBP/USD
Open Price:1.5970
Stop Loss: 1.6020
Reason(s): 1.6000 Area, Monthly & Weekly RSI pointing down
Caution: Looks like Monthly & Weekly is still on a Downtrend?
Risking: < 0.5%



























Result: -50

22/11/2010 Long USD/JPY [Cancel]

 This trade is different from my previous trades where I will be taking the Monthly & Weekly RSI into consideration. I am going to test if the RSI is useful.

Trade: Long USD/JPY
Open Price: 83.74
Take Profit: 84.40
Stop Loss: 83.03
Reason(s): Daily Pinbar, Monthly & Weekly RSI pointing up, 83.50 Area.
Caution: Looks like Monthly & Weekly is still on a Downtrend?
Risking: < 1%












Thursday, November 18, 2010

18/11/2010 Long NZD/USD [Close]

Trade: Long NZD/USD
Open Price: 0.7736
Stop Loss: 0.7621
Reason(s): Daily Pinbar, Uptrend, 0.7650 Area
Risking: < 1%





























Result: BE