The destructive movement during Asian session prompted me to exit my long positions. I closed all Aussie positions with small profits as mentioned in my twitter feed. I am still positive about Aussie dollar pair though. I do not want to establish any short term position now, it is just gamble. I’d prefer to let the market settle with the stupid fed interest rate announcement.

Market shall tell me where does it want to go later. Let’s wait.

Update: Well done Ben, cheers. A .5 cut is good enough to move the markets. Watching for opportunity again. Well, maybe not so soon, the candles are just too big at the moment.

It has been a nice week for Aussie dollar pair, and it closed the week well above 50-day moving average. Yes, I am still positive about Aussie, and still holding long position. In fact, I have increased my holding last week while cutting down losing position of USD/JPY.

[photopress:audusd_daily15sep2007.gif,full,alignleft]

Another chart that caught my interest is EUR/JPY.The pair managed to close above previous high, above down trend line and , also closed above 50-day moving average.

[photopress:eurjpy_daily15sep2007.gif,full,alignleft]

Here are my open positions now:

• Long AUD/USD, Entry: 0.8285
• Long AUD/USD, Entry: 0.8291
• Long USD/JPY, Entry: 115.88 (cut 40% of initial position size)
• Long USD/SGD, Entry: 1.5267

I had also made a couple of day trades on AUD/JPY and NZD/USD this week. So far, trading equity grows +5% this month.

I hope everyone had a great week.

It has been an interesting trading week for me. I traded actively throughout the week, in both Australian stocks and Forex.

After spending some time and $$ for data and broker selection and funding, I am ready to start the real work. It is interesting to figure out the way Australian stocks market works. Comparing to Singaporean stocks market, Aussie market is bigger in size and variety. I have a couple of open positions now.

Forex. I start to love the game more and feel I am getting synchronized with this massive market now. I trimmed down my losing position of USD/JPY, and beef up my Aussie positions for my medium term portfolio. And I made a couple of day trades this week with some Rs profit. Not too much, but good enough for weekend’s dinners and a little bit of shopping.

I miss futures trading, but that’s something that I can’t do now. So for the time being, Forex and stocks (swing trade) are my play ground (or battle field ?)

I did some bad journaling. This weekend’s work will be getting the journal organized.

I am still holding my long positions of Aussie pairs. Looking at the chart , we are approaching resistance area which is the combination of previous high and 50-day moving average. Aussie dollar managed to close above 200-day moving average most of the week.

Well, I am still stubborn. Long Aussie at the moment.  Have a good weekend ahead. It spring in Melbourne. What a beautiful Saturday!

[photopress:audusd_daily8sep2007.gif,full,alignleft]