Happy Chinese New Year to all my readers. And this is the Year of Tiger. Wishing you a prosperous year, stay healthy and, always have fun. ??????????
Chart of the moment: $NZDJPY 11-Feb-2010
So, my Aussie positions are closed now. I am not stopping here. I am looking at potential short trade of NZDJPY. Again, this is a simple idea, I am going to test the resistance.
What do you think?
14 Critical Lessons for trader
Here is another great free resource which I thought it is worth mentioning here.
EWI team has compliled 14 of the very best lessons from their Trader’s Classroom Collections and put them into one valuable 45-page report. And it is available for free until 16-Feb-2010.
Some the of the key chapters include:
- Why Emotional Discipline is Key to Success
- When to Place a Trade
- How to Use Bar Patterns To Spot Trade Setups
- How To Calculate Fibonacci Projections
- The Best Place for High-Opportunity Trade Setups
Give it a shot and grab the chance to put this collection into your library while they’re free. Check it out.
Chart of the moment: $AUDJPY 09-Feb-2010
I am still trading and watching the markets. However, I didn’t find anything interesting to post on the blog, that explains why the lack of post last week. However, you can always follow my tweets.
Anyway, I tweeted yesterday about going Long with AUDUSD and AUDJPY. I am still holding the positions. Here is the chart of AUDJPY. Do you see something interesting here? As usual, I love to go in to test the support zone. Let’s see.
What do you think?
Is it time now? A look at GOLD ($XAU)
I exited my AUDUSD long position earlier today with small loss. The entry was too early. However, I am still looking to build long positions of AUD, NZD and CAD (by Short USDCAD). Let’s see how this strategy works out. Basically, my approach is to test the market, if it does not work out, I run, building another position. No scalping though. OK, I am talking too much now.
I had a look at GOLD. This is another reason I am interested in building long positions of commodities currencies. Well, though this is not the only factor. Take a look at Daily and 4-hr, what do you see? Is it going to break or bounce?
Here is the chart (click to view full chart)
Here are some technical figures:
$NZDUSD :Catching the falling knife?
I start to buy some Aussie dollar and looking to buy Kiwi dollar soon. Oh well, you can say I am catching the falling knives. So what? What would be the worst case if I am wrong? Got stopped out, that’s it. What so tough about that? 🙂
Anyway, here is 4-hr chart of NZDUSD. I am looking at few touches of the support zone, and start buying some to test the support. Let’s see.
