Tuesday, February 23, 2010

After CNY trade.

After a week of break from trading because of CNY, i did my 1st trade today shorting Euro.

1.3646-50 is a strong resistance area. H4 created an inverted hammer today and closed below the Resistance. Entry short at 1.3630 and Stop Loss at 1.3650. Added position at the break of 1.3587.

Big Ben news tomorrow at 11pm will definitely move the market, my strategy would be buy stop and sell stop before news.

Wednesday, February 10, 2010

Waiting for EU decision on Greece

All eyes on the EU meeting today. Looks likely some assistance for Greece will be forthcoming, a debt guarantee probably at a minimum. Stating the obvious; a declaration that no assistance will be forthcoming and the euro can expect to get hit pretty hard.

Euro is closing in on the Hourly trendwall. It can either break or bounce of it. Waiting for news of Greece's aid.

Tuesday, February 9, 2010

Euro Chart

Euro hit the trendline and bounced of it and Euro is forming a bear flag pattern. I will be looking to short Euro when the bear flag pattern breaks to the downside.

EU to the rescue or maybe not?

Speculation on Rescue for Greece helped pushed Euro higher and rumors saying European Union would not save Greece sent it lower again. Buy the rumor and sell the rumor day.

Monday, February 8, 2010

PIIGS cant fly because its not halal !

‘At Barclay’s Capital, PiiGS No Longer Fly.’ Unfortunately, another dismal soul at Bloomberg must have taken offense and updated the online headline in the piece it to this [emphasis added]:

Swine Acronym Ordered Out of Barclay’s Reports (Bloomberg, Feb. 5, 2010, Alexis Xydias, Rita Nazareth and Lynn Thomasson)

The securities unit of London-based Barclays Plc told analysts yesterday not to use the acronym for Portugal, Italy, Ireland, Greece and Spain in notes to clients, according to a memo obtained by Bloomberg News. The mandate from Valerie Monchi was sent to research staff.

The Piigs nickname has grown increasingly popular in the last month as investors dumped assets in the euro zone’s smaller economies on concern the countries will struggle to control budget deficits…

…Usage of Piigs grew following the rise of the BRICs acronym for Brazil, Russia, India and China, coined by Goldman Sachs Group Inc. Chief Global Economist Jim O’Neill to describe four of the world’s biggest emerging markets.

And, pigs are really pretty nice creatures according to this information from the Humane Society that was included in the Bloomberg piece:

…The Web site of the Humane Society of the United States describes pigs as “highly intelligent, curious animals who engage in complex tasks and form elaborate social groups.”…

Wednesday, February 3, 2010

X marks the spot in UJ.

Convergence of lower trendline and upper trendline. A good place to enter trade.

4th Feb 2010

EUR/USD perfect textbook trade yesterday. Support at 1.4026 turn Resistance and price reverse when it reached the resistance. Big Panda sold at that level.

EUR/JPY is in a range. Waiting for a nice breakout with technical and fundamental backing.

AUD/USD is also in a range. Waiting for a nice breakout as well.

NFP day again Friday~

Its NFP day again on Friday. Best way to trade is to straddle both sides of the market.
Buy stop above and sell stop below. Take profit is best before important SR areas.

3rd Jan USD/JPY

USD/JPY has been consolidating for 1 day in that pink box. Consolidation is my friend.
Long at the break out of 90.50 or the consolidation box.

Tuesday, February 2, 2010

AUD trade

Sell stop below the consolidation area. AU broke support when AUS announced no hike in interest rate yesterday.