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Gav's trading blog - Perseverance, Consistency, Confidence

Gav

It is time now…let’s offer some helps

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I just finished my Sunday night scanning. Nothing popped out. So, no tips or junk idea at the moment.

The purpose of this post is to offer some helps. It is time for us to offer some help to the victims of recent China Earthquake. Here are some organization for donation

Oxfam Australia International Crisis Fund – China Earthquake

World Vision Emergency Aid – China Earthquake Relief

America Red Cross: China Earthquake relief

To all bloggers,

In case you are reading this post, write a post on your blog to encourage your readers (Probably, you have much bigger number of readers than I do 🙂 ) to offer some help to the disaster victims. Tom is doing a great job.

Cheers.

One EUR/GBP trade

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I went long on EURGBP. So , this time, the tips or Junk ideas appear to be a tips. I closed partial of my position and let the rest run. Here is the 5-minute chart to show the development of the entry setup. No rocket science, just try to ride on the bull when it is taking a short break. Think…..

OK, here is the….. CHART!

[photopress:eurgbp12may2008_trade_closed_1st.gif,full,1]

Tips or Junk ideas

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OK, I have another tips or junk idea here. I am not going to write too much. Does this chart look a BUY for you soon? What do ya think? 🙂

Trend Score: +65 , a weak uptrend now

Edit: I forgot to mention, this is EURGBP!

[photopress:eurgbp11may2008.gif,full,1]

There is no such thing as the trend; there are countless trends, depending on the method we use to determine a trend. People typically pick a method for determining trend that fits with their current positions and/or view of the market. ~ Ed Seykota (TradingTribe)

EUR/USD…now what?

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In a shorter time frame, I see some price formation which will probably lure some traders shorting EUR/USD again. I am not into it this time. To me, for short term trading, I don’t see good risk/reward setup now. Well, again, that’s in Trader Gav’s definition.

Here is the…..CHART! The color dots are just to impress my readers. Showing off my programming skills. 😆 .. Nah. Basically, we are reaching a longer term support area. (Again, that’s my definition of long term). So, I hesitate to be on short side at the moment.
[photopress:eurusd11may2008.gif,full,1]

Here is the …Trend Score! We are in a very weak Downtrend. I am looking at a choppy consolidation phase soon. Let’s see how it works out.
[photopress:eurusd11may2008_trend.jpg,full,1]

About this tool

One Euro trade

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OK, this is not a good trade, in my definition. I am not being myself today. Anyway, I exited short position of EURUSD around 1.54-ish. I didn’t like the fact that price flirted around 1.54-ish level. (OK, maybe this exposed my weakness of unable to hold on the winner). Whatever, not a good trade, but nice chart. That’s the reason I am writing this post. I am going to show off yet another nice chart. Shoot! Did you read my junkie idea in the previous post?

[photopress:EURUSD07May2008.jpg,full,1]