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Gav's trading blog - Perseverance, Consistency, Confidence

Gav

$EURJPY 22 Nov 2010

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We have a gap up during Monday Asian morning. I have two levels in my radar for potential short position. It is the confluence of resistance level, Fib extensions and channel median line.

[tab: Setup]

Here is the CHART to confuse you.

$EURJPY Bearish Harmonic setup

[tab: Update 24 Nov 2010]

This type of ‘fast-and-furious’ sell off does not happen very often, but I try to make sure I am in the market when it happens. Last piece of EURJPY short was closed few hours ago. Market seems to be a little messy now. I have no position at the moment, prefer to watch and wait for the market to settle for now.

Here is the CHART

A little clarification to new readers..

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I recently received some emails asking about signal service. Here is just a small clarification to my new readers. I am not a trading signal provider or trading educator. I occasionally tweet my trades on twitter, and share some interesting setups/charts on this blog. These are all  I am offering.

So, no paid service here. Well, at least for now 🙂 I don’t have any plan to offer any, yet. If you are interested in reading my charts or my rant, follow me on twitter, and read this blog.

Trade well.

$AUDJPY 12 Nov 2010

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Here is the $AUDJPY chart I mentioned earlier on. I am holding long position, with some profit booked, and stop is now at break even. This is a text book 5-0 formation where all fib levels are nicely respected.

[tab: Setup]

Here is the chart to confuse you.

$AUDJPY 5-0

Have a great weekend!

[tab: Update 18 Nov 2010]

The pattern works now nicely. With the weakness of JPY at the moment, and AUD gaining some strength, the pair might stretch further. But, there is also a possibility of forming triple tops, and now it is trading at the top of channel as well…so..

Here is the updated chart.

$AUDJPY 5-0

$GLD GOLD 08 Nov 2010

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I am looking at GOLD chart this morning, I got the feeling it might be the time to see some corrections soon. It is now trading around the top of the recent channel, and there are confluences of Fib extensions and harmonic patterns. I have two potential zones defined on my chart. Let’s see how it works out.

[tab: Setup]

Here is the CHART to confuse you.

GOLD 08 Nov 2010

Define your level, and trade the level.

Trade well.

[tab: Update 13 Nov 2010]

Here is the updated GOLD chart.  We have a pretty nice pull back of GOLD (not without some initial shaking though)

$GLD Bearish harmonic action