Friday, April 24, 2009

GBPUSD: A Drunken Sailor

The cable, as the GBPUSD is called, looks like drunken sailor.The chart
is all over the map, with massive daily swings lined up one after the
other all over the place.There are some pips to be made in there!I'm
not generally trading the GBPUSD, but I'm going to put a few moments
into figuring out whether my AUDJPY chart set up seems applicable.It's
hard to resist all that volatility.

AUDJPY: Tweezer Top?

The market has about 6 minutes to change it's mind.If it doesn't, this
is going to look like a tweezer top on the 1 hour.Now, that would be
something I'd consider bearish (I originally typed bullish).If you read
my last post... you know I'd like that to happen!Now about 4 minutes
left.Zzzz. No market reaction on the hour.Maybe the tails weren't long
enough -- or I'm too impatient?... continuing .

AUDJPY: Short On Failure?

It might be time to think about shorting the AUDJPY.It's coming up to a
recent high and might not have a lot of legs left.If we get a decent
failure there could be a shorting opportunity for some part of this
evening.See (on the 1 hour)?Let's keep an eye on this......
continuing ...Down on the 1 minute chart we seem to have some
resistance to get through before we have the ability to drop:...

Thursday, April 23, 2009

AUDJPY: Morning Peek

Well, first, I can't believe I'm awake this early after such a long
night. I need to hone my craft and trade for a living -- I'd be able to
keep better hours.Anyway, this morning we have the follow up to last
nights analysis.We're looking at what appears to be a double bottom
with no idea whether or not we'll reap the technical rewards that they
can offer.Since I slept through the last several

AUDJPY: Look Who's Consolidating

Well, I should be sleeping, but since I'm not I thought I'd take
another look at the charts.Guess what -- it's the same chart but I see
something new!Okay, sure, a bit more time has passed. However, with the
added points I clearly see that we seem to be consolidating.There
should be some money to be made while we bounce around... and then some
money to be made when a direction is chosen.As ever,

AUDJPY: Did We Bounce?

My last blog post, audjpy decision point, talked about an upcoming
decision point. At the moment it looks like we are going to begin an
upward leg.I'm feeling particularly cautious at the moment, especially
since this is only on the 15 minute chart, but I thought I'd post
it.Notice the last candlestick:As I'm long term bullish on AUDJPY let's
hope this is the beginning, or perhaps resumption, of

AUDJPY: Decision Point

I'm looking at the 3HR chart at the moment. We seem to be looking at an
impending strike on a recent support line.If this resistance holds we
might have a technical setup that would allow for a nice gain.Take a
look:See how there was something of a W shape starting in the middle of
the 19th? See how the chart is currently on the second touch down of a
second W? If we bounce off the support line

Tuesday, April 21, 2009

WHAT FOREX IS NOT



Forex is not a quick rich scheme.
Forex is not easy even though my blog says so.
Forex is not a place for newbie
Forex is not something you can learn overnight
If you needed the money, dont put it in Forex. Seriously. Go somewhere else.
Forex is a journey, enjoy it.
There is no such thing as holy grail coz there is no perfection in this world. If perfection exist in this world it would be boring. No more room for improvement.
Forex is not rocket science. There is no right or wrong. There is only probability.

AUDJPY: Waiting For The Trend To Break

I often think that evening trading goes through a period of doldrums.
It gets boring. Things move slowly, if at all. Ten pips gain or loss
can take an hour or more to happen.Zzzz.At the moment, as you can see
by the chart below, I'm waiting for the current trendlet to break:This
is a 1MIN chart, hence the "trendlet" concept.


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