The Trading This Week Is Quite Good...

The trade started good with the USDJPY being the opening profitable trade followed by AUDUSD and just on Friday another profitable trade with the EURUSD. Another good trading setup also existed when cross pair of GBPJPY, however I am not able to trade it due equity limitation.

As the USDJPY chart above showed, I placed a long trade (buy stop order) at 95.96 where the first few hours was a nerve wreaking experience as the Yen trade in the opposite direction. At the same time I also place a long trade with AUDUSD at 0.6328, with both trading ending is a very good profit by the end of Monday.

EURUSD followed suit yesterday on Friday when I placed a sell stop order since Thursday at 1.2819. It eventually hit this price level on Friday with well over 100 pips in profit.

All trading were all done on a simple Daily chart time frame by looking at extreme level of the Bollinger Band with default setting.

I will be looking again for a new trade setup opportunity by next week. Until then, happy trading and enjoy the weekend...

New level to watch for USDJPY...and the Aussies

To update on my previous post, a new high level just been developed in the USDJPY. Hence, my previous break-out level of 95.49 is void. The new level to look for a break-out and to start a long entry will be 95.96.

I also find out that another good potential break-out trading opportunities also being in the making with AUDUSD and EURJPY. So also watch out for this currency pairs next week.

While for the Yen, when I look at the upcoming news data for next week, there will be alot of news data coming out on Thursday from Japan. The start of the week, Japanese bankers will be off for holiday, and thereafter a few strings of Japanese data coming out...so watch out for these fundamental movers .

Until then...happy trading guys ;)

Eyeing on Yen for a Bull move

I am eyeing on a possible long trade with the USDJPY or the Yen. Based on my Daily chart monitoring, the Yen may take another bull moves from yesterday low of 93.55, and I am watching for the Yen to break the indicative level of 95.49 before I am considering a long trade with the Yen pair.

Well better do some homework on the next week upcoming news for the Yen from the Japanese market. Until then...happy trading and enjoy the weekend.

Market in sideways...will be taking some break

The market movement this week is somewhat flatten. Even after I look at all major currency pairs. But I expect there will be some explosion when the current market trend break at some point. Maybe another short trade or vice versa.

Right now, I need to take a break and will now switch to Daily chart. Daily chart is very relaxing for me but to trade it will require good equity strength. What I would like to do with Daily chart is to look for trend breakout, and from here I will switch to lower time frame.

As in my previous posting in this blog, a break of the 0% fibo level will trigger another new trade opportunities. Right now my cash equity does not allow me to trade right from the Daily chart.

Until then...happy trading.

The market today seems having some choppy waters. After the release of US economic numbers which looks good than forecast, US Dollar briefly gain some bullish tone but then retreat to some previous level.

As you can see from my 5-min EURUSD chart above, the pair is in the ranging mode and the risk is just way too high for my trading account. The risk from 38.2% entry level all the way up to 61.8% level is well over 64 pips.

So I just simply stay away from the market at the moment until some new trend develops. It may develop later today. Happy trading guys ;)

Before reading this, please read the Disclaimer.

With my personal observation on the current market situation, the EURUSD is in the ranging mode. If you refer to my Daily chart above, EURUSD is now in between the 38.2% and 0% level of the Fibo. The main trend for the Daily chart still shows a bear market with some retracements. A reversal may occur if the price break 61.8% level or a continuation of the trend will occur if the price of the EURUSD breaks the 0% level. Personally, I will be looking for another short trade with the Euro and expecting another bear push if the current price break the 0% level.

Looking for a challenging trade next week. Until then happy trading guys ;)

Missing the boat for 40 pips return

Today could be another good trade for a 40 pips short trade with EURUSD, with minimal risk of 21 pips. However, since the trend breakout occurs around the afternoon 15 minutes before the Friday prayer, I have to take my own way and have to miss the boat for another great opportunity. Another trade potential also occur this afternoon aroun 4:00 pm (Brunei), but again I miss that opportunity as I am attending an occassion for Haj season of my close relative.

As of this writing, new resistance level just developed in my 30-minute chart at 1.2662...so I will be watching this level to breach for another short trade opportunity. But I need to be very careful today...it's Friday...so false signal may occur.

Happy trading ;)