Thursday, April 29, 2010
Above is USD/CHF daily chart which showed my chart setup for USD/CHF. I shorted the pair again targeting 1.0717 level near 50% retracement of 1.0501 to 1.0923. The stop loss level is above the 1.0923 level. I also add a blue channel there based on the last three waves. Okay that is all for now. Happy trading!
Friday, April 23, 2010
I just shorted USD/CHF near the trendline resistance. I think its a pretty good chance for another swing down to the support trendline. I opened 3 positions with 50 pips target for the first position and gonna leave the target open for the rest positions. Okay thats all and this is probably my last trades for this week..probably.. :P
Tuesday, April 20, 2010
Hi guys! I have just finished my setup for EUR/USD. Yesterday, the pair found support around 1.3433 and closed above the daily open price. I have bought the pair at 1.3467 but break of 1.3481 on hourly chart is my confirmation for another swing to test the falling trendline (red dot). As for risk, I'll cut loss if the pair break below 1.3430.
In bigger view, EUR/USD has finished 5 waves down from 1.5143 with low at 1.3266 before forming a double bottom pattern. However, the bearish view remains as long it stays below 1.3815 resistance, while break of the low may bring EUR/USD to the neckline on weekly chart.
Thursday, April 15, 2010
GBP keep on gaining against Yen after a reguler-hidden divergence combination on hourly chart. At the moment, GBPJPY is facing the resistance trendline but still maintain above 144.70 level. Further pull back may be seen until 144.00/30 area. 4-hour resistance trendline is now around 146.50, but 145.50 area is enough for me ;P