My EUR/USD Trade (25-03-2008) --- Update (Final)

*Attached chart (After). Click on it for the enlarged version.

Hi everyone,

An update from my previous trade > Click Here!

My Target Profit has been triggered at (26-03-2008), 4:39am (Singapore Time) | 8:39pm (GMT).

90pips profit for this trade :)

Peace and trade safely everyone...

My EUR/USD Trade (25-03-2008)

*Attached chart (Before). Click on it for the enlarged version.

Hello everyone,

I opened a long position on the EUR/USD at the price line of 1.5550 at 6:01pm (Singapore Time) | 10:01am (GMT).

Price action movements which I called my "Ambush" method in my dictionary of analysis plus supported by market refusing to go below the [Ash Weekly Pivot Point], Fast and Slow [Ash C Wave] still up, MAs up and [Ash Cross Over] kissing.

Stop loss at 1.5519 (31pips) and Target Profit at 1.5640 (90pips). Risk : Reward = 31 : 90 = 1 : 2.9

I have shifted my stop loss to protective stop at 1.5551 (1pip in the money).

Will update as trade goes by :)

Peace and trade safely everyone...

What happened during Asian Session?

Source: Forex.com

USD sellers returned full force in today's Asia session in the first real test of the USD bulls in a week. EUR/USD broke through 1.5450, running all the way through 1.5550. USD/JPY was also weak slicing through 100.50 but holding above 100.00. There wasn't any confirmed news regarding the sharp sell off but we heard rumors of non-official sellers of the USD (also known as sovereign wealth funds). JPY crosses were mostly higher as equity markets continue to trade higher.

Looking forward, London is back from vacation and we should expect to see more depth to the market. It will be interesting to see if the recent USD rally was a correction in a longer term trend lower in the USD or the beginning of a bottom in the USD. Expect commodities to trade in a negative correlation to the USD so if we see gold get back over $1,000 we could renewed interest to sell the USD. On the economic front, tomorrow morning is US consumer confidence which is expected to weaken further to 73.5.

Holiday is not holding FX back.

Source: Forex.com

It was a holiday in some parts of the world, but in currencies it was business as usual. Last week's USD rally continued as EUR/USD broke through 1.5400 and USD/JPY traded towards 100.00. Lower commodities like oil and gold have been contributing to the USD bid tone as well as well as signs that the credit conditions in the US are spreading to other parts of the world. JPY crosses were choppy despite S&P futures pointing to higher equity markets. In the past the two have been highly correlated but that relationship has diminished recently.

Looking forward, it should be another interesting week after the historical events of last week. We have a slew of economic data including US new and existing home sales as well as consumer confidence. While equity markets are trading off their lows, we could continue to see slowing economic data pointing to a recession. However, this is not necessarily negative for the USD if the slow down is global. Given the multi-year move lower in the USD, another week of USD strength isn't out of the question.

Quick look on the market (24-03-2008)...

Hello everyone,

Osamex has been really busy and tired. Instead of doing his video hosting market review for us, he has gladly volunteered to give text review :) Thank you Osamex.

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*Disclaimer. This is not a trade recommendation, just for educational purposes. There is significant risk in Forex Trading.
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EUR/USD

Under Weekly Quick Look. It look as if the bull is a little tired. A possible retracement? Immediate support is currently at previous previous week's low at about the price line of 1.5280. Last week's candle is unable to break previous previous week's open and low despite a top rejection after creating a new high.

Under Daily Quick Look. Same thing that I see. A breathing point that happened last week. Possible heavy profit taking or Fed's intervention? Which ever it is, we techinical traders do not bother much about it. Anyway, 1.5350 looks like a good immediate support, if it can break below this price, we are looking for selling opportunity towards the price line of 1.5080.

Under Hourly Quick Look. Hmmm, interesting. Market is going towards my target for my previous trade which I got stop out at 40pips profit. Anyway, as mentioned from the Quick Look from the Weekly and Daily, we will be looking for a selling oppotunity. Super immediate resistance for us now is at around 1.5400, followed by 1.5430 and 1.5530. On the downside, super immediate support is at around 1.5350, followed by 1.5285 and 1.5150.
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GBP/USD

Under Weekly Quick Look. Last week's movement was very predictable. From the previous previous week's movement, it was a nice perfect doji. Osamex has informed Commerciante Traders to be wary of any buying opportunities on the GBP/USD last week.
Possible "Head and Shoulders"? Immediate support level is at around the price line of 1.9350.

Under Daily Quick Look. Super Immediate support level at around the price line of 1.9730. From the previous "Double Bottom" spotted, market jumped but the strength was not there for long. Now, if market is able to break below the mentioned support level, look forward to 1.9610.

Under Hourly Quick Look. 1.9730, a good price to look at as a super immediate supprt. Topside resistance is between 1.9880 - 1.9900. Looks like there will be a follow through from last week's movements. Look more on down selling opportunity.
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USD/JPY

Under Weekly Quick Look. Previous previous week's movement broke below the mega closing wedge but last week, market had a bottom rejection and an up close candle which look like a "Hammer". Immediate resistance level at around 101.40. This week, might be some minor retracement from the straight down fall that it did.

Under Daily Quick Look. Market has already broke below Osamex's channel. Market has since made a retracement back up towards the already broken channel. Super immediate resistance will be at around 100.20 - 100.40.

Under Hourly Quick Look. Last week, from the looks of it, some major war going on between sellers and buyer and intervention from relevant authorities. Market jump, then consolidate then now into a dead trading line. 98.85 will be a good price line to look at, if it is able to break any lower, look forward for a sell down opportunity. Just a word of caution since there is a "Tug-Of-War" here, be careful of top side resistance, 100.40, followed by 101.25 and 102.53.
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USD/CHF

Under Weekly Quick Look. Looks like it is going for a major retracement. Beware of super immediate resistance level at around 1.0530. Possible retracement towards mentioned resistance level.

Under Daily Quick Look. 1.0250 is a good super immediate resistance level to look at. If can break above this level, look forward to the next one at 1.0340, followed by the one mentioned in Weekly Quick Look.

Under Hourly Quick Look. It has currently broke last week's high. Super immediate support is at 1.0150. Top side resistance level at around 1.0250, followed by 1.0310.
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My EUR/USD Trade (20-03-2008) --- Update (Final)

*Attached chart (After). Click on it for the enlarged version.

Hello everyone,

An update from my previous trade update > Click Here!

Didn't have time to look at my charts and trading account till now.

Anyway, my protective stop has been hit at (21-03-2008), 1:27am (Singapore Time) | 5:27pm (GMT).

40pips profit for this trade.

Peace and trade safely everyone...

My EUR/USD Trade (20-03-2008) --- Update 1

Hello everyone,

An update from my previous trade > Click Here!

Currently, now at 12:32am (Singapore Time) | 4:32pm (GMT), I am like 70pips in the money now. Have shifted my Protective Stop further to 1.5460 (40pips in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...

My EUR/USD Trade (20-03-2008)

*Attached chart (Before). Click on it for the enlarged version.

Hello everyone,

I shorted the EUR/USD at the price line of 1.5500 at 5:43pm (Singapore Time) | 9:43am (GMT).

Candle studies and price action (it broke below my channel), it is supported by Fast and Slow [Ash C Wave], MAs down, [Ash Cross Over] down and [Ash Down Up] Thick Red Bar.

My Stop Loss is at 1.5530 (30pips) and my Target Profit is at 1.5360 (140pips). Risk : Reward = 30 : 140 = 1 : 4.6

Currently, I am in 30pips in the money, have shifted my Stop Loss to Protective Stop at 1.5499 (1pip in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...

My GBP/USD Trade (19-03-2008) --- Update (Final)

*Attached chart (After). Click on it for the enlarged version.

Hello everyone,

From my previous trade > Click Here!

My Protective Stop was triggered at (20-03-2008) 12:22pm (Singapore Time) | 4:22am (GMT).

30pips profit for this trade :)

Peace and trade safely everyone...

My GBP/USD Trade (19-03-2008)

*Attached chart. Click on it for the enlarged version.

Hello everyone,

Last night I shorted the GBP/USD at the price line of 1.9858 at 11:57pm (Singapore Time) | 3:57pm (GMT).

Price action follow through but I was a little too late but still can enter because it was supported by Slow and Fast [Ash C Wave] was going down, MAs down and [Ash Cross Over] already down and going down further, [Ash Down Up] thick red bar.

My Stop Loss 1.9888 (30pips) and Target Profit 1.9760 (98pips). Risk : Reward = 1 : 3.26

Today about 11:00am (Singapore Time) | 3:00am (GMT), I am like 70pips in the money. Have shifted my stop loss to protective stop at 1.9828 (30pips in the money).

Will update as this trade goes by :)

Peace and trade safe everyone....

My EUR/USD Trade (19-03-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

After the USD's interest rates release, I initiated a short position on the EUR/USD at the price line of 1.5721 at 2:53am (Singapore Time) | 6:53pm (GMT).

Price action movement, took out the day's low. Supported by my secret analysis.

My stop loss at 1.5741 (20pips) and Target Profit at 1.5520 (201pips). Risk : Rewards = 20 : 201 = 1 : 10.05

This morning, was like 40pips in the money, shifted my stop loss to protective stop at 1.5701 (20pips in the money).

Protective stop got hit at 12:18pm (Singapore Time) | 4:18am (GMT).

20pips profit :)

Peace and trade safely everyone...

My 2nd USD/JPY Trade (17-03-2008) --- Update (Final)

*Attached chart. Click on it for the enlarged version.

=^_^= Hello everyone,

Update from my previous trade > Click Here!

My Stop Loss was hit at 8:03pm (Singapore Time) | 12:03pm (GMT).

25pips losses for this trade :)

Peace and trade safely everyone...

My 2nd USD/JPY Trade (17-03-2008)

*Attached chart. Click on it for the enlarged version.

Hello everybody :)

I shorted the USD/JPY again at the price line of 96.60 at 6:50pm (Singapore Time) | 10:50am (GMT).

Same thing that I saw from the previous trade > Click Here!

Stop loss at 96.85 (25pips) and Target Profit 95.80 (80pips). Risk : Reward = 25 : 80 = 1 : 3.2

Currently, I am 20pips in the money. Have not shifted my stop loss to protective stop.

Will update as this trade goes by :)

Peace and trade safely everyone...

My USD/JPY Trade (17-03-2008) --- (Update Final)

*Attached chart. Click on it for the enlarged version.

Hello everyone,

From my previous trade > Click Here!

Protective stop triggered at 5:34pm (Singapore Time) | 9:34am (GMT), 1pip profit :)

Peace and trade safely everyone...

My USD/JPY Trade (17-03-2008)

*Attached chart. Click on it for the enlarged version.

Hello everyone,

Initiated a short position on the USD/JPY at the price line of 97.12 at 4:56pm (Singapore Time) | 8:56am (GMT).

My price action analysis. To support that, my secret analysis is in my favour.

Stop loss at 97.39 (27pips) and Target Profit 95.80 (132pips). Risk : Reward = 27 : 132 = 1 : 4.8

Currently, am about 30pips in the money, have shifted my stop loss to protective stop at 97.11 (1pip in the money).

Will update as the trade goes by :)

Peace and trade safely everyone...

EUR/USD Hit Record High As Investors Lose Confidence In Fed

SOURCE: Daily FX

The US dollar got crushed as many financial institutions questioned the Fed's success in reviving liquidity in the credit markets. The Swiss franc and the Yen picked up the most against the crumbling dollar as both currencies retraced yesterday's losses to hold near record highs as weary investors dumped their holdings of carry trades. Against the European currencies, the euro strengthened against the US dollar to touch another record high of 1.5573, with the British pound appreciating to hold above 2.02. The commodity currencies also picked up modest gains as oil prices surged to a new record high of $110.01.

Downward pressures for the US dollar billowed as market participants became skeptical of the Fed's success in easing the economic turmoil for the US, and raised speculation that the move merely mirrors the Fed's concerns for the financial markets. As a result, market participants rallied around the belief that the $200B infusion by the Fed may only help to improve liquidity in the credit markets, but will not be enough to serve as an absolute solution for the troubled economy. Fresh economic data added to the bleak outlook for the economy as the MBA Mortgage Applications index fell to minus 1.9 percent due to tightening credit conditions, with the Bloomberg Global Confidence dropping to 13.01 as Bloomberg analysts speculate that the US slowdown will hamper global economic growth. The Monthly Budget Statement also pressed on the US outlook with the deficit widened to minus 175.6B from minus 120.0B as the Bush administration increased the tax rebate for households.

Looking ahead, all economic data for the US will be released at 12:30 GMT, with all eyes focused on the Import Price Index as well as the Retail Sales figures. Following the releases, the Initial Jobless Claims and Continuing Claims release will end the eventful day, and expected downward pressures for the US dollar to persist as the data will reflect stalled growth for the economy.

My USD/JPY Trade (13-03-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

After my previous USD/JPY that got stopped out at 1pip Protective Stop > Click Here.

In the wee hours last night, I saw a continuation. Initiated a short position at the price of 102.15 at 1:22am (Singapore Time) | 5:22pm (GMT).

What I saw, as per usual, candle stick pattern, price action, cannot break my 200ma and cannot break above the weekly pivot. Supported my secret analysis.

My Stop Loss was at 102.40 (25pips) and Target Profit 101.40 (75pips). Risk : Reward = 25 : 75 = 1 : 3

Then I went to sleep :P

Woke up today at 10:00am (Singapore Time) | 2:00am (GMT). Saw that my Target Profit was hit at 5:41am (Singapore Time) | 9:41am (GMT).

75pips profit for this trade :)

I have mentioned from my previous post > Click Here. From what I can see now, the pair has broken down, out of the monthly wedge, it is possible that JPY is strengthening. I'm looking forward for downward oppotunity.

Peace and trade safely everyone...

My USD/JPY Trade (12-03-2008) --- Update (Final)

*Attached chart. Click on it for the enlarged version.

Hello everyone :)

Update from my previous trade > Click here!

Protective Stop got hit at 11:16pm (Singapore Time) | 3:16pm (GMT).

1pip profit...

Peace and trade safely everyone :)

My USD/JPY Trade (12-03-2008)

*Attached chart. Click on it for the enlarged version.

Hello everyone,

I shorted the USD/JPY today at the price line of 102.80 at 6:43pm (Singapore Time) | 10:43am (GMT).

Based on price action analysis and candle pattern. Supported by my secret analysis and 200ma is a strong resistance level.

Was waiting for price to cross below 102.80. When it did, I placed an order to sell at 102.80. It was filled at the mentioned time above.

Stop loss at 103.03 (23pips) and Target profit 101.90 (90pips). Risk : Reward = 23 : 90 = 1 : 3.9

Currently, I'm in 40pips in the money. I have already shifted my Stop Loss to protective stop at 102.79 (1pip in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...

USD/JPY Quick Look (12-03-2008)

*Attached chart. Click on it for the enlarged version.

Hi everyone,

A quick look on the USD/JPY. Attached chart is the monthly chart which I can see that it is in a very big closing wedge. Market is having a huge squeeze in.

Currently, market has so far reached the bottom wedge support again which is roughly around 101.70 and bounce. Now it is around 103.00. If market is strong enough to break the bottom support and looking forward to go down, this is will be an oppotunity to see history repeating itself and JPY shall strengthen again. In trading, anything can happen.

Otherwise, market will just be bouncing up to continue its is mega congestion in the closing wedge. Let's see how it goes, since I am doing a quick look based on monthly chart, it will definitely take quite sometime to materialised :P In between for trading sense, we can definitely see some trend movements from weekly down to daily and hourly charts.

Peace and trade safely everyone...

My USD/JPY Trade (11-03-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

It is based on candle studies and price action movements. Plus co-relation on the EUR/JPY that I saw but won't go in depth on this part.

The candle formation that made me decide to long USD/JPY is a pattern that is similar to three line strike. Using modified version of my secret analysis which is in my favour.

Went long at 5:02pm (Singapore Time) | 9:02am (GMT) at the price line of 101.98.

Stop loss was at 101.75 (23pips) below 23ma and Target Profit 103.30 (132pips) below 200ma. Risk : Reward = 23 : 132 = 1 : 5.73

Have to attend to other commitments and I reached home at 12:10am (Singapore Time) | 4:10am (GMT) to know that my target profit has been triggered at 10:26pm (Singapore Time) | 2:26pm (GMT).

132pips profit for this trade...

Peace and trade safely everyone...

My USD/JPY Trade (06-03-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hi everyone,

I shorted the USD/JPY (06-03-2008) at the price line of 103.40 at 4:44pm (Singapore Time) | 8:44am (GMT).

Price action movements and cannot break above the weekly pivots plus my secret analysis.

Stop loss at 103.65 (25pips) and Target Profit at 102.50 (90pips). Risk : Reward = 25 : 90 = 1 : 3.6

When I was around 30pips in the money, shifted my stop loss to protective stop at 103.39 (1pip in the money)

Next day (07/03/2008), I woke up at unbelieveable 6:00am (Singapore Time) | 10:00pm (GMT) in the morning because I have my HDB appointment at 8:15am (Singapore Time) | 12:15am (GMT) and I want to beat the PIE traffic.

Anyway, 6:14am (Singapore Time) | 10:14pm (GMT), the market was like 7pips away from my target price so I shifted my protective stop at 103.39 (1pip in the money) further to 103.10 (30pips in the money). Left the house at 6:40am (Singapore Time) | 10:40am (GMT).

My HDB appointment went well. When I was sitting in front of my laptop, found out that my target has already been triggered at 6:49am (Singapore Time) | 10:49pm (GMT), just after I left the house :P Hehehe.

90pips profit for this trade :)

Peace and trade safely everyone...

My GBP/USD Trade (05-03-2008)

*Attached chart. Click on it for the enlarged version.

Hello everyone,

I did a short on the GBP/USD (05-03-2008) at the price line of 1.9810 at 3:22pm (Singapore Time) | 6:22am (GMT).

I saw that, my chart pattern, broke out of my wedge and broke the weekly pivot. Plus my secret analysis.

My stop loss is at 1.9844 (34pips) and target profit 1.9710 (100pips). Risk : Reward = 34 : 100 = 1 : 2.94

When I was in around 53pips in the money, shifted my stop loss to protective stop at 1.9809 (1pip in the money)

Got stop out at 1pip profit at (05-03-2008) 6:51pm (Singapore Time) | 10:51am (GMT).

Peace and trade safely everyone...

My USD/JPY Trade (28-02-2008) --- Update (Final)

*Attached chart. Click on it for the enlarge version. It is a 4 hourly chart rather than my usual hourly chart.

Hello everyone,

I just woke up. Having slight flu, body ache and a little bit cranky but looking at my account, my crankiness goes away :P Hahahaha...

This is an update from my previous trade > Click Here.

Anyway, my target profit got hit at 7:46am (Singapore Time) | 11:46pm (GMT).

90pips profit for this trade :)

Peace and trade safely everyone...

My USD/JPY Trade (28-02-2008)

*Attached chart. Click on it for the enlarged version. It is a 4 hourly chart rather than my usual 1 hourly chart.

Aloha everyone,

Today, I was looking to short the USD/JPY again...

Under 1 hourly chart it wasn't nice but when I switch to 4 hourly chart. It was beautiful :)

I have my bear flag and price action. On top of that, with my secret analysis.

Short it at 11:55pm (Singapore Time) | 3:55pm (GMT), the price line of 105.90.

My stop loss is at 106.12 (22pips) and target profit is 105.00 (90pips). Risk : Reward = 22 : 90 = 1 : 4.09.

Currently (12:10am [Singapore Time] | 4pm [GMT]), I am in 29pips in the money. Shift my stop loss to protective stop at 105.89 (1pip in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...

My GBP/USD Trade (28-02-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

Last night, in the wee hours of Singapore Time. I initiated a short position on the GBP/USD at 2:59am (Singapore Time) | 6:59pm (GMT) at the price line of 1.9858.

What I saw was that, my price action analysis and it is in a bull flag. With my secret analysis. Using my similar wave pattern, I calculate my possible target profit at the bottom support of the bull flag.

I went in for a fast trade. Stop loss at 1.9878 (20pips) and Target Profit 1.9795 (63pips). Risk : Reward = 20 : 63 = 1 : 3.15

Then I went to sleep. Woke up, my target profit has been hit. It was hit at 5:24am (Singapore Time) | 9:24pm (GMT).

63pips profit for this trade :)

Peace and trade safely everyone...

My USD/JPY Trade (26-02-2008) --- Update.

*Attached chart. Click on it for the enlarged version.

From my previous post of this trade > Click here.

My Target Profit got hit today (27-02-2008) at 4:36pm (Singapore Time) | 8:36 (GMT).

120pips profit for this trade :) Barely 2 days of holding.

Peace and trade safely everyone...

My USD/JPY Trade (26-02-2008)

*Attached chart. Click on it for the enlarged version...

Hello everybody,

I shorted the USD/JPY today (26-02-2008) at 5:43pm (Singapore Time) | 9:43am (GMT) at the price line of 107.97.

What I saw was that, own analysis of chart pattern, fake out on the topside of a closing wedge. To top that up with my secret analysis.

My stop loss is at 108.17 (20pips) and target profit at 106.77 (120pips).
Risk : Reward = 20 : 120 = 1 : 6

So far, I am in about 30pips in the money. I have shift my stop loss to protective stop at 107.96. 1pip in the money.

Will update when this trade is closed :)

Peace and trade safely everyone...

Quick look on GBP/USD...

*Attached chart. Click on it for the enlarged version.

Hello everyone. On my previous post on my GBP/USD Trade (18-02-2008). I put a note saying that GBP/USD broke below the closing wedge in the Daily Chart so look for a lower high to short it.

Now, the thing is that. It looks like it is a "Fake-Out" plus a possible "Double Bottom".

Look to see where market is heading and what it is going to tell. Now, it is not saying anything.

Just this formation under the Daily Chart that I see. So do be a little careful.

Peace and trade safely everyone...

My GBP/USD Trade (18-02-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

On the 18th of February 2008, I have shorted the GBP/USD at 3:12pm (Singapore Time) | 7:12am (GMT) at the price line of 1.9580. Initiated the trade with candle pattern analysis plus technical analysis has suggest that GBP/USD will go for a continuation on the downward move.

Initial Target Profit at 1.9440 (140pips), Stop Loss at 1.9610 (30pips).

When I was around 70pips in the money. Have already shifted my Stop Loss to Protective Stop at 1.9560 (20pips in the money).

The next day 19th of February 2008, I want to be more conservative, I shifted my Target Profit to 1.9445 (135pips) and my Protective Stop remain at the same position, 1.9560 (20pips in the money).

Today, 20th February 2008, I saw that 1.9460 was an immediate barrier. Shifted my Target Profit to 1.9460 (120pips). My Target Profit was trigerred at 5:53pm (Singapore Time) | 9:53am (GMT).

120pips profit for this trade. 3days of holding.

Peace and trade safely eveyone...

Note: GBP/USD has broken below the closing wedge under Daily charts. Look for continuation on the down side.

Global Events Calendar [18-02-2008] - [22-02-2008]

Hello everyone and everybody :)

How's everyone doing? Am still a little excited over Cafe Momentum :P
Hehehe. What is Cafe Momentum? Well, it is kind of like the first trader's cafe in Singapore :) Will do a seperate post of it soon :)

Anyway, attached below is the Global Events Calendar [18-02-2008] -
[22-02-2008]. Time is as usual, based on Singapore Time (GMT+8:00).

Nothing much to take note of but just a good look at a few things.

1) Monday [18-02-2008]
- US is having their holiday (President's Day)-[Personal opinion > If
you are uncomfortable trading due to US Holiday, avoid trading during
US session or just avoid it totally :P].

2) Wednesday [20-02-2008]
- [5:30pm] > GBP - MPC Meeting Minutes. [Verdict > 8-1(Hold)].

Other than that, peace and trade safely everyone...

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Global Events Calendar [18-02-2008] - [22-02-2008]
*Singapore Time(GMT+8:00)
----------------------------------------------------------------------
Monday [18-02-2008]
7:50am--------------JPY Tertiary Industry Activity Index m/m
8:01am--------------GBP Rightmove House Price Index m/m
4:15pm--------------CHF Retail Sales y/y
[Whole Day Event]---USD Holiday: President's Day

Tuesday [19-02-2008]
5:00pm---EUR Italian Trade Balance
10:00pm--USD Minneapolis Fed President Stern Speaks

Wednesday [20-02-2008]
2:00am---USD NAHB Housing Market Index
7:50am---JPY Monetary Policy Meeting Minutes
3:00pm---EUR German PPI m/m
5:30pm---GBP MPC Meeting Minutes
5:30pm---GBP M4 Money Supply m/m
5:30pm---GBP Public Sector Net Borrowing
7:00pm---GBP CBI Industrial Trends Orders
9:30pm---USD Core CPI m/m
9:30pm---USD Building Permits
9:30pm---USD CPI m/m
9:30pm---USD Housing Starts

Thursday [21-02-2008]
3:00am---USD FOMC Meeting Minutes
7:50am---JPY All Industries Activity Index m/m
7:50am---JPY Trade Balance
3:15pm---CHF Trade Balance
3:45pm---EUR French CPI m/m
4:15pm---CHF PPI m/m
5:00pm---EUR Current Account
5:30pm---GBP Retail Sales m/m
9:30pm---USD Unemployment Claims
11:00pm--USD Philadelphia Fed Manufacturing Index
11:00pm--USD Leading Index m/m
11:30pm--USD Crude Oil Inventories

Friday [22-02-2008]
11:00am--JPY BOJ Governor Fukui Speaks
3:45pm---EUR French Consumer Spending m/m
5:00pm---EUR Manufacturing PMI (p)
5:00pm---EUR Services PMI (p)
6:00pm---EUR Industrial New Orders m/m

[After Friday]
12:00pm--JPY BOJ Governor Fukui Speaks
----------------------------------------------------------------------

My GBP/USD Trade (15-02-2008)

*Attached charts (Before) and (After). Click on it for the enlarged version.

I shorted the GBP/USD today at 3:54pm (Singapore Time) | 7:54am (GMT) at the price line of 1.9684.

With my own analysis and price action, top up with my secret analysis.

Target Profit 1.9585 and Stop Loss 1.9718.

My TP (1.9585) was hit at 1:58am (Singapore Time) | 5:58pm (GMT) before market close on Friday :)

99pips profit for this trade :)

Peace and trade safely everyone...

My EUR/USD Trade (14-02-2008)

*Attached charts (Before) and (After). Click on it for the enlarged version.

On the night of Valentine's Day, I initiated a long position on the EUR/USD.

With my quick analysis, I saw an opportuinity.

So I initiated a long position at the price line of 1.4623 at 12:01am (Singapore Time) | 04:01pm (GMT).

My Target Profit is at 1.4685 and Stop loss at 1.4609.

The next morning, I saw the market is a little bit not going my way with a loss of momentum. I manually close it for 8pips profit at 09:50am (Singapore Time) | 1:50am (GMT).

Peace and trade safely everyone...

My USD/JPY Trade (11-02-2008)

*Attached charts (Before) and (After). Click on it for the enlarged version.

Hello everyone,

My trade today on the USD/JPY. It is Japan's holiday today but I waited for the European session :)

Initiated a short postion at 2:59pm (Singapore Time) | 6:29am (GMT) at the price line of 107.10.

Did my secret analysis and I went for it.

Short it and my target profit was at 105.90 (Last Thursday's low) and stop loss 107.36 (Around 23MA). At around 5:45pm (Singapore Time) | 9:45am (GMT), I was like 40+pips in the money and I shifted my stop loss to protective stop at the price line of 106.90.

So, I went out and I just came back and it is now like 10:41pm (Singapore Time) | 2:41pm (GMT). My protective stop has been triggered at 8:53pm (Singapore Time) | 12:53am (GMT). 20pips profit for this trade :)

Peace and trade safely everyone...

Global Events Calendar [11-02-2008] - [15-02-2008]

* Time is based on Singapore Time (GMT+8:00).

Few things to take note of:

1) [Monday 11-02-2008]
- [Whole Day] Japan will be having their Holiday (National Foundation Day)

2) [Tuesday 12-02-2008]
- [6:00pm] German Zew Economic Sentiment

3) [Thursday 14-02-2008]
- [7:50am] Japan's GDP
- [11:00pm] Uncle Ben is going to speak

4) [Friday 15-02-2008]
- [Time Unknown] JPY Interest Rate Statement. Although time is unknown, the usual time of release is around 1:00pm-2:30pm. They are looking at to hold their current interest rate.

Other than that, peace and trade safely everyone...

----------------------------------------------------------------------
Global Events Calendar [11-02-2008] - [15-02-2008]
----------------------------------------------------------------------
Monday [11-02-2008]
[Whole Day Event]---JPY Holiday: National Foundation Day
3:45pm--------------EUR French Industrial Production m/m
5:00pm--------------EUR Italian Industrial Production m/m
5:30pm--------------GBP PPI Input m/m
5:30pm--------------GBP Trade Balance
5:30pm--------------GBP DCLG House Price Index y/y
5:30pm--------------GBP PPI Output

Tuesday [12-02-2008]
8:01am---GBP BRC Retail Sales Monitor y/y
5:30pm---GBP CPI y/y
5:30pm---GBP Core CPI y/y
5:30pm---GBP RPI y/y
6:00pm---EUR German ZEW Economic Sentiment
6:00pm---EUR ZEW Economic Sentiment

Wednesday [13-02-2008]
7:50am---JPY CGPI y/y
7:50am---JPY Current Account
8:01am---GBP RICS House Price Balance
1:00pm---JPY Household Confidence
3:00pm---EUR German WPI m/m
3:45pm---EUR French Government Budget Balance
5:30pm---GBP Average Earnings Index +Bonus q/y
5:30pm---GBP Claimant Count Change
5:30pm---GBP Unemployment Rate
6:00pm---EUR Industrial Production m/m
6:30pm---GBP BOE Inflation Report
9:30pm---USD Core Retail Sales m/m
9:30pm---USD Retail Sales m/m
11:00pm--USD Business Inventories m/m
11:30pm--USD Crude Oil Inventories

Thursday [14-02-2008]
7:50am---JPY GDP q/q (p)
7:50am---JPY GDP Deflator y/y (p)
12:30pm--JPY Industrial Production m/m (r)
3:00pm---EUR German GDP q/q (p)
3:45pm---EUR French GDP q/q (p)
5:00pm---EUR ECB Monthly Bulletin
6:00pm---CHF ZEW Expectations
6:00pm---EUR GDP q/q (p)
9:30pm---USD Trade Balance
9:30pm---USD Unemployment Claims
11:00pm--USD Fed Chairman Bernanke Speaks

Friday [15-02-2008]
1:30am-----------EUR ECB President Trichet Speaks
[Time Unknown]---JPY Interest Rate Announcement
2:00pm-----------JPY BOJ Monthly Report
[Time Unknown]---JPY BOJ Governor Fukui Speaks
3:45pm-----------EUR French Nonfarm Employment q/q (p)
6:00pm-----------EUR Trade Balance
9:30pm-----------USD Empire State Business Conditions Index
9:30pm-----------USD Import Price Index m/m
10:00pm----------USD TIC Net Long-Term Transactions
10:15pm----------USD Capacity Utilization Rate
10:15pm----------USD Industrial Production m/m
10:45pm----------EUR ECB President Trichet Speaks
11:00pm----------USD Consumer Sentiment (p)

[After Friday's Mid-night]
2:15am---USD Fed Governor Mishkin Speaks
----------------------------------------------------------------------

Gong Xi Fa Cai

Hello everyone and everybody.

Wishing the Chinese from all over the world, a Happy Lunar New Year and the rest, Happy Holidays :)

Hopefully, the year of the "Rat" will be us a "Ratting Luck" for more pips for us :)

Warmest Regards,
ForexNewsPaper.blogspot.com

My EUR/USD Trade (05-02-2008) - Update

*Attached chart. Click on it for the enlarged version.

Hello everyone,

Update of this trade from my previous post > Click here

This trade is closed. Target Profit was hit (5:19pm [Singapore Time] | 9:19am [GMT]) shortly after I send the post. :)

72pips profit for this trade.

Peace and trade safely everyone...

My EUR/USD Trade (05-02-2008)

*Attached chart. Click on it for the enlarged version.

Hello everyone,

My trade today on the EUR/USD.

With my secret analysis :)

I shorted the EUR/USD at 3:50pm [Singapore Time] | 7:50am [GMT], at the price line of 1.4807.

My stop loss is at 1.4835(28pips) and target profit at 1.4735(72pips). Risk : Reward = 28 : 72 = 1 : 2.5

Currently, I am 46pips in the money. I have shifted my stop loss to protective stop at the price line of 1.4806, 1pip from entry. Confirm 1pip profit :)

Will update when this trade is closed :)

Peace and trade safely everyone...

Global Events Calendar [04-02-2008] - [08-02-2008]

*Time is based on Singapore Time (GMT+8:00).

Important notes:

1) Thursday 07/02/2008 [8:00pm] - GBP Interest Rate Statement. They are looking at a 0.25% rate cut. Do bear in mind that a 0.50% rate cut is possible.

2) Thursday 07/02/2008 [8:45pm] - EUR Interest Rate Statement. They are looking to hold their current interest rate.

Other than that, peace and trade safely everyone...

----------------------------------------------------------------------
Global Events Calendar [04-02-2008] - [08-02-2008]
----------------------------------------------------------------------
Monday [04-02-2008]
7:50am---JPY Monetary Base y/y
5:30pm---EUR Sentix Investor Confidence
5:30pm---GBP Construction PMI
6:00pm---EUR PPI m/m
11:00pm--USD Factory Orders m/m

Tuesday [05-02-2008]
12:20am--USD Fed Governor Kroszner Speaks
4:55pm---EUR German Services PMI
5:00pm---EUR Services PMI (r)
5:30pm---GBP Services PMI
6:00pm---EUR Retail Sales m/m
6:00pm---EUR Italian CPI m/m
11:00pm--USD ISM Non-Manufacturing Index
11:00pm--USD ISM Non-Manufacturing Prices
11:00pm--USD Treasury Secretary Paulson Speaks

Wednesday [06-02-2008]
8:01am---GBP Consumer Confidence Index
1:00pm---JPY Leading Index m/m
6:30pm---GBP BRC Shop Price Index y/y
9:30pm---USD Nonfarm Productivity q/q (p)
9:30pm---USD Unit Labor Costs q/q (p)
11:30pm--GBP Leading Index m/m
11:30pm--USD Crude Oil Inventories

Thursday [07-02-2008]
1:30am---USD Fed Governor Kroszner Speaks
2:40am---USD Philadelphia Fed President Plosser Speaks
2:00pm---JPY Machine Tool Orders y/y
2:45pm---CHF Unemployment Rate
3:45pm---EUR French Trade Balance
5:30pm---GBP Industrial Production m/m
5:30pm---GBP Manufacturing Production m/m
7:00pm---EUR German Factory Orders m/m
8:00pm---GBP Interest Rate Statement
8:45pm---EUR Interest Rate Announcement
9:30pm---EUR ECB President Trichet Speaks
9:30pm---USD Unemployment Claims
11:00pm--USD Pending Home Sales m/m

Friday [08-02-2008]
2:00am---USD Dallas Fed President Fisher Speaks
4:00am---USD Consumer Credit m/m
7:50am---JPY Core Machinery Orders m/m
7:50am---JPY M2+CD Money Supply y/y
8:01am---GBP NIESR GDP Estimate
1:00pm---JPY Economy Watchers Current Index
2:45pm---CHF CPI m/m
2:45pm---CHF Consumer Climate
3:00pm---EUR German Trade Balance
7:00pm---EUR Composite Leading Indicators m/m
7:00pm---EUR German Industrial Production m/m
11:00pm--USD Wholesale Inventories m/m

[After Friday's Midnight]
1:55am---USD Cleveland Fed President Pianalto Speaks
----------------------------------------------------------------------

My USD/JPY Trade (31-01-2008) - Update.

Harlow everyone.

This trade have just got stopped out with 1pip profit at 11:14pm (Singapore Time) :P Hehehe...

No worries. More opportuinities to come :)

Peace and trade safely everyone...

My USD/JPY Trade (31-01-2008)

*Attached chart. Click on it for the enlarged version.

Hello everybody...

My trade today on the USD/JPY. Initiated a short position on this pair at 7:24pm (Singapore Time) at the price line of 106.22.

Reason for my short position is based on breaking out of my mini channel plus bearish confirmation via my secret analysis.

My stop loss at 106.47 and target profit at 105.60. Risk:Reward = 25:62 = 1:2.48.

Just got home, now is 10:41pm (Singapore Time). Currently I'm 33pips in the money. As usual, I have already shifted my stop loss to 1pip away from entry price at 106.21 :P hehehe! Confirm 1pip profit :)

Will update when this trade is closed.

Peace and trade safely everyone :)

FOMC Slashes 50-BP

The FOMC, as largely expected, cut its benchmark-lending rate by 50-basis points to 3.0%. In the accompanying statement, the Fed reiterated lingering downside risks to growth – acknowledging that "financial markets remain under considerable stress" amid tightening credit conditions. The Fed said that recent data points toward further deterioration in the housing market and softening in labor conditions. However, the Fed highlighted the need to continue monitoring inflation in spite of expectations for it to moderate in the coming quarters. The greenback, initially stronger heading into the announcement, quickly gave back its gains – slipping to 1.9960 against the sterling and near the 1.49-level versus the euro.

On the data front, US reports painted contrasting outlooks for the economy. The January ADP payrolls blew away consensus estimates for a slight increase to 45k from 40k, instead spiking to 130k. Traders quickly rewarded the dollar following the release. Shortly after, markets were treated to a polar opposite reading on the economy, with the advanced Q4 GDP revealing anemic growth of 0.6% compared with a robust 4.9% reading from the previous quarter. The disappointing growth rate for the fourth quarter, which was its lowest since 2002, fuelled speculation that the US economy is heading into a recession – further supporting the case for additional policy easing from the FOMC in the coming months.

Also worth noting was an announcement from Qatar, which said it was mulling over its currency policy. Qatar’s peg to the dollar has resulted in heavy inflationary pressure given the greenback’s broadbased descent in recent years.

Traders will look ahead to a barrage of economic data from the Eurozone and US in the session ahead. The Eurozone reports consist of Germany’s unemployment rate, retail sales, Eurozone economic sentiment, HICP flash and E-13 unemployment rate. Meanwhile, in the US, the data include personal income, consumption, weekly jobless claims, Q4 ECI and the Chicago PMI.

Euro Buoyed, Awaits Data

Amid growing expectations that the ECB will soon shift to an easing stance, tomorrow’s barrage of Eurozone economic data will be closely scrutinized. Germany’s retail sales in December are seen mixed, with the monthly report reversing the previous month’s 1.7% drop, increasing by 1.5%. However, on an annualized basis, retail sales are forecast to plunge by 4.8% versus a 3.4% drop a year earlier. Germany’s unemployment rate is seen improving slightly to 8.3%, down from 8.4% from December.

The Eurozone economic sentiment is estimated to slip to 104, down from 104.7, while the E-13 unemployment rate is seen unchanged at 7.1%. Also due out will be the flash HICP report, expected to hold steady at 3.1%.

EURUSD holds steady near 1.4780 with interim resistance seen at 1.48, followed by 1.4840 and 1.4870. Additional ceilings will emerge at 1.49, backed by 1.4920 and 1.4965. On the downside, support begins at 1.4750, backed by 1.47 and 1.4675. Subsequent floors are seen at 1.4640, followed by 1.46 and 1.4550.

FX Locked in Range, Awaits FOMC

The greenback was mixed on Tuesday, higher against the yen while drifting lower against the euro and sterling. Supporting the dollar earlier in the session was stronger than expected durable goods orders. Nevertheless, traders remain cautious ahead of tomorrow’s FOMC monetary policy announcement at 2:15 PM. Fed funds futures are currently discounting 76% likelihood for a 50-basis point rate cut tomorrow to 3.0%.

The US economic data revealed sharply stronger than forecast durable goods orders for December to 5.2%, outpacing calls for an increase to 1.5% and reversing the previous month’s 0.1% decline. The core durable goods orders jumped by 2.6%, and the excluding defense reading also improved by 2.9%. Consumer confidence was slightly better than expected in January at 87.9, but down from a month earlier at 88.6. The expectations component plunged to 69.6, versus a revised 75.8 from December.

In addition to the Fed’s monetary policy announcement tomorrow, markets will continue to focus on the US economy – with the releases of the January ADP employment payrolls, largely viewed as a proxy for the key non-farm payrolls, the advanced reading of Q4 GDP and the Q4 PCE. The January ADP payrolls are expected to edge up to 45.0k, down from 40k from December. US economic growth in the fourth quarter is expected to decline sharply – down from a robust 4.9% reading in Q3 to an anemic 1.2% in the preliminary Q4 report.

With the markets largely discounting a 50-basis point rate cut tomorrow, anything less will clearly disappoint. It will also be interesting to see the accompanying FOMC statement to gauge the scope of the Fed’s easing stance. Nonetheless, we anticipate the dollar’s downside to be limited given market expectations for the aggressive cut, as well as sentiment that the ECB, BoE and BoJ will also follow suit in reducing interest rates.

My EUR/USD Trade (22-01-2008)

Hello everyone,

My trade on the EUR/USD (22-01-2007). Not very detailed (no attached charts) as I placed this trade while doing so many things at one go. Hope that my detailed timing along with the post will compliment the absence of my charts to assist you see in your charts :)

Around 5:00pm (Singapore Time) | 9:00am (GMT), I saw Bullish Engulfing plus candle body so strong crossing both the 6ma and 23ma, 6ma is having a steep turn, chasing the 23ma and parabolics switch direction and of course my secret confirmation.

I looked at the market with the little time that I had and I initiated a long position at 5:33pm (Singapore Time) | 9:33am (GMT), at the price line of 1.4459.

My TP was at 1.4500 (41 pips) and SL at 1.4445 (14pips), (Risk):(Reward) = (1):(2.9). Reason being on why I only want to look at 41pips is because of FED's interest rate statement and I won't be around to look at my charts because I have something on at 6:00pm (Singapore Time) | 10:00am (GMT) till about now which is like 1:00am (Singapore Time) | 5:00pm (GMT).

So now, looking at my charts, maaaaaaaaan. Wish I was in front of my screen and able to rip out more of the market :P Hahaha! Anyway, 41pips profit for this trade, no complains :) More opportuinities to come :)

Peace and trade safely everyone...

Bush Pushes $150B Economic Aid Package

President Bush said Saturday "the kind of spending projects that would have little immediate impact on our economy" should not be part of any stimulus package, setting the stage for a possible clash with Democrats.

Bush and the Democratic-controlled Congress are emphasizing their desire to work together as they rush negotiations on a short-term measure to prevent the economy from falling into recession. But while there is broad agreement that one-time tax rebates for consumers will be part of the package, there are different priorities at work for the rest of the measure.

Bush wants to devote a portion to incentives for businesses to invest. Democrats want to add spending for food stamps, unemployment benefits and infrastructure projects.

"This growth package must be built on broad-based tax relief that will directly affect economic growth -- not the kind of spending projects that would have little immediate impact on our economy," the president said in his weekly radio address. "This growth package must be temporary and take effect right away."

Rep. Barney Frank, D-Mass., speaking for the Democrats in their own radio address, said any stimulus package needs to help Americans hardest hit by the weakened economy. He said Democrats want to work with the president and congressional Republicans on a plan that includes tax rebates for most Americans, as well as one-time increases in some programs.

"Economists agree that middle- and working-class people are likely to spend that money in a way that will effectively stimulate the economy and create jobs," Frank said.

"We must cooperate to enact immediately aggressive measures that respond to the economic downturn, while we simultaneously continue a healthy debate about the role of government in a modern economy," Frank said.

On Friday, Bush said any plan, to be effective, would need to represent roughly 1 percent of the gross domestic product, or about $140 billion to $150 billion.

Treasury Secretary Henry Paulson said the biggest chunk of the economic package the administration is considering would be targeted to individual taxpayers, though he would not talk about how big these checks might be. A Republican official, speaking on condition of anonymity because the package is not finalized, said the president was hoping to target about $100 billion toward individuals and about $50 billion toward businesses.

Paulson said Bush doesn't support cash for people who don't make enough to pay federal income taxes. The administration also does not back non-tax related ideas, favoring simplicity to ensure a package could be passed and implemented quickly, Paulson said.

"We're not looking to decorate a Christmas tree," he said.

Some Democrats were disappointed.

Sen. Edward M. Kennedy, D-Mass., said he agrees with Bush that a plan must be approved quickly, but he said it must help working families.

"The people who are struggling every day to pay their bills, heat their homes, and pay their mortgages need our help now," Kennedy said. "We must act quickly to provide immediate help for those in crisis."

Bush, Bernanke Support Stimulus Package

President Bush and Federal Reserve Chairman Ben Bernanke on Thursday embraced calls for an economic stimulus package to avert recession. Bernanke said such a plan should be quickly implemented and temporary so that it won't complicate longer-term fiscal challenges.

The Fed chief, in testimony prepared for the House Budget Committee, did not embrace any specific provisions or a specific plan. Rather, he spoke to the general concept of an economic rescue package. It is likely that any such package would include tax rebates.

"Fiscal action could be helpful in principle" and may provide "broader support for the economy" than the Fed can furnish alone through reductions in interest rates, Bernanke said in prepared testimony to the House Budget Committee. However, "the design and implementation of the fiscal program are critically important," he said.

"The president does believe that over the short term, to deal with the softening of the economy, that some boost is necessary," Bush spokesman Tony Fratto said.

On Capitol Hill, Bernanke agreed that "fiscal action could be helpful in principle" and may provide "broader support for the economy" than the Fed can furnish through reductions in interest rates alone. In his testimony for the House Budget Committee, the Fed chief said, "The design and implementation of the fiscal program are critically important."

Bernanke didn't recommend specific provisions or endorse a specific plan, but rather spoke to the general concept of an economic rescue package. It is likely that any package that emerges will include tax rebates.

First trade of 2008. EUR/USD Trade (16-01-2008)

*Attached charts (Before & After). Click on it for the enlarged version.

Hello Everyone,

My first trade for the year of 2008 :)

Initiated a short position on the EUR/USD at 12:51pm (Singapore Time) today :)

What I saw was that:
1) Dark Cloud Cover.
2) Parabolics SAR is still above.
3) 6MA is still below 23MA.
4) My secret confirmation.

Shorted it at the price of 1.4839. Stop loss was placed at 1.4868, Target Profit at 1.4754.

Target Profit was hit at 11:47pm (Singapore Time), was not in time to shift my Target Profit :) It is ok. 85pips profit for my first trade in 2008 :)

Peace and trade safely everyone...

2007 - Year End

Greetings fellow readers of ForexNewsPaper.blogspot.com,

The year 2007 is coming to an end soon and most of us has already closed our books for the trading year. 2007 has definitely been on interesting trading year with full of surprises and mega movements. Nonetheless, all of us can't wait for 2008 to start with all of us back in the trading arena.

I have officially closed my books for 2007 with a couple of last minute trades :) There will be no updates for the rest of 2007 because I will be away on holiday, enjoying my lifestyle and will only be back in 2008 :)

2007 - Some of us made handsome profits while others made ugly losses. For profitable traders, continue to be profitable next year, maintain your good discipline and abide by your strategies diligently. Do not be over confident :) For those with negative accounts, do not despair. Spot and analyse on where you went wrong and do not repeat your mistakes. Important note, do not convert your mistakes into bad trading habits. That's a nightmare for any traders :)

With that, I will like to wish loyal readers of ForexNewsPaper.blogspot.com and everyone around the world a Merry Christmas and a Happy New Year. May 2008 be another prosperous trading year and hopefully, Osamex will finally make his appearence to host the weekly video Forex analysis on ForexNewsPaper.blogspot.com in 2008 :)

Warmest Regards,
ForexNewsPaper.blogspot.com

Selamat Hari Raya Haji (Aidil'Adha)

Wishing all of the Muslim readers and Muslims all over the world a Selamat Hari Raya Haji (Aidil'Adha) and to all non-muslims, a Happy Holiday :)

From: ForexNewsPaper.blogspot.com

My GBP/USD Trade (19-12-2007)

*Attached charts to this post (Before & After), click on it for the enlarged version.

Hello everyone,

My trade today (19-12-2007) with the GBP/USD.

Basically, I was looking at the EUR/USD but something pulled me over to see GBP/USD instead. Just happen when I was looking at it, candle pattern was happening right in front of me, very nice and sexy, I shorted GBP/USD at the price line of 2.0079 at 5:46pm (Singapore Time). My Stop Loss was at 2.0115(36pips) and Target Profit at 1.9975(104pips).

I did my stuff for Hari Raya Haji tomorrow, just happened to check my laptop now at around 1:00am (Singapore Time), my Target Ptofit has been hit at 12:32am (Singapore Time). 104pips profit for this trade :)

Peace, trade and close books safely everyone...

My EUR/USD Trade (17-12-2007) - (Update)

*Attached chart, click on it for the enlarged version.

Harlow :)

Update of the trade from my previous post > My EUR/USD Trade (17-12-2007).

I just got home. It is 11:50pm(Singapore Time). This trade has stopped me out at 1pip profit :P It was triggered at 10:15pm(Singapore Time).

Nonetheless, it does look like it is in a very nice bear flag.

My books are officially closed from last Friday but from the bear flag that I am seeing, I will not hesitate to short it if I just happened to be there when it happens. I won't be hunting for it :)

Peace and trade safely everyone...

My EUR/USD Trade (17-12-2007)

*Attached chart to this post, click on it for the enlarged version.

Hello everyone,

Today, I was looking at the charts out of boredom, my books are suppossed to be closed :P Hahaha.

Anyway, I saw on the EUR/USD that there was a loss of momentum on the upside plus my own analysis, so I initiated a short position at the price line of 1.4430 at 2:25pm (Singapore Time). My Stop Loss was at 1.4465(35pips) and Target Profit at 1.4320(110pips).

At 6:00pm (Singapore Time), I went out and I was already 50pips in the money. So, I shifted my stop loss to 1.4429, 1pip away from entry. Anything happens, at least 1pip profit :P Hehehe...

The current low for the day was at around 1.4330, dammit, an inch away from my target profit.

This trade is still open and an update on it will definitely be posted :)

Peace and trade safely everyone...

My EUR/USD Trade (14-12-2007)

*Attached charts (Before and After). Click on it for the enlarged version.

Harlow everyone. My trade today on the EUR/USD.

Today, I saw a bear flag in the EUR/USD. When it broke below the morning's low and the bear flag, I initiated a short position at the price line of 1.4604 at 4:48pm (Singapore Time). My stop loss was at 1.4625(21pips) and my target profit was at 1.4535(69pips). My target profit at 1.4535 is because of that it is 1995's high and it might be a good support. Risk:Reward ratio = 21:69, roughly 1:3.

Although under 4hrs chart, it show that there will be room for more profit but I am not taking any chances due to the fact that it is already mid-December and institutions and professional traders are preparing to close their books.

Anyway, I went out, Came back home at 11:00pm (Singapore Time), my profit target has been triggered at 7:16pm (Singapore Time). 69pips profit for today, just nice to close my books for the year :)

Peace and trade safely everyone...

My EUR/USD Trade (11-12-2007)

*Attached chart. Click on it for the enlarged version.

Hello everybody. My trade today on the EUR/USD.

The 3:00pm (Singapore Time) candle, ended with a huge rejection. I do not need to explain any further. Upon finishing its form at the end of 3:00pm (Singapore Time), I initiated a short position at 3:59pm (Singapore Time) at the price line of 1.4721.

My stop loss is at 1.4735(14pips) and target profit is at 1.4695(26pips) which is just above my 200ma in hourly chart.

My target profit got hit at 6:24pm (Singapore Time). 26pips profit for today :)

Peace and trade safely everyone...