TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Gav

So where the bloody hell are you?

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I am still here. But I was on the pathetic 3G wireless mobile broadband. I was not able to do too much with the inconsistency of speed, and frequent connection drops . The only things I could do were browsing Facebook and sometimes, twittering. My charts were lagging. Ticking whenever it liked to. And I was not so confident to submit any order as well.

Well, I am back. I am back to 21st century now with ADSL2+ broadband. Everything is back to normal. Hopefully, I can find some opportunities for the rest of the month. I am travelling to Asia again during April. So….

Just some quick updates, have a great trading day.

Chart of the moment: $NZDJPY 01-March-2010

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I was trying to look for trading opportunity in AUDUSD chart. Instead, NZDJPY caught my eyes. We are heading to a 3rd test of 60 area. I thought all eyes are on this level.

Err…is that a triangle pattern? Hmm..Not sure. But I am still interested in testing the support at 59-60 area. Let’ see.

Here is the CHART!

A $AUDNZD trade

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I received a couple of tweets asking about AUDNZD. The question is summarized : Is it UP or Down? or Bullish or Bearish? As usual, I don’t answer this type of question. If you have been trading for sometime, you know why I do not answer these questions.

Have a look at AUDNZD daily chart, it is not hard to see why I am interested in getting into short position. There are mountains ahead in the bigger time frame, such as daily. Experience told me there should be some opportunities for the pair to be stopped, retraced before it actually tries to break through.  In addition, I am also holding Long position of NZDUSD.  Of course, this analysis can be very wrong at times, but, who knows in definite the pair is going UP or Down? Get yourself out quickly when it is wrong.

Anyway, I shorted AUDNZD slightly below 1.29 level and looking at  mid1.27ish zone as target. I have taken some profit off the table and moved stop to break even before the market closed for weekend.

Next week I will be looking to buy some AUDNZD if it manages to hold it well around 1.27-ish zone.

Here are the daily and 4-hour CHARTS.  (Click on the chart to view full chart)

$USDCAD,I am not so sure about..

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I have been trading the whole week, and still holding half position of EURGBP long. I just did not find time to write anything here. There are just too many things to think and handle outside my trading life recently. A little bit stress is building up… Anyway, that’s not the point of this post.

AUDUSD and AUDJPY start to confuse me now. I can’t see the clear picture, so I will leave them alone for now. Some of you might argue USDCAD is back to buy zone again. Well, this time, I am not so sure. I am not sure if we should jump in now. It does not convince me so much. Instead, we might see a run to mid 1.02-ish. Well, who knows? Let’s see.

Here is the CHART!!!