TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Blog and Rants

Worries in Aussie?

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Is Australia heading to recession? Some said next 3 months are crucial…

Think of it like this: we are in a car that has been braking sharply as a result of higher interest rates, higher petrol prices, diminishing household wealth and fear of what might lie ahead. Now the car has slowed sharply, the question is whether we, the decision-makers of the economy, keep our foot on the brake, and slow down even further, or release it to keep cruising at our present speed.

The Reserve’s goal was the latter: if Australia’s growth in output slows to about 2.5% — 2% excluding farms and mining — it believes inflation will gradually crawl back within its target zone of 2% to 3%.

Are the decision-makers, the good driver? Not too sure.

Full article from TheAge.com

EURUSD…Not yet, but soon?

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Daily chart of EURO is a beauty. Consolidation, breakout, consolidation, breakout. I love this chart. Well, we are again in the consolidation phase, and at the new high area. I remain positive now, which means I am only looking at the Long side at the moment. It depends on what do you want from the market. Accumulate long position to anticipate the upside breakout? or hold your breath now and wait for the breakout.

Here is the….CHART!

[photopress:euro_daily.gif,full,1]

Here is the statistics

[photopress:EURUSD_trend.jpg,full,1]

About this tool

And here is the  FXE (CurrencyShares Euro)

[photopress:FXE.jpg,full,1]

Chart used Tradecision

OIL..is it over? Yet?

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Let’s have a quick look at USO ( United States oil Fund, ETF) and spot Oil price.  I am not sure if people start talking about the bull run is over. Well, not yet. Uhm…I am not convinced, yet.  This implies, the recent strength of Dollar might be short lived?  There is another theme calling commodity run is over. I am not surprised to see these two theories now. Pickin’ top and bottom is just part of human nature.

For a short term trader like me? I am waiting 🙂

Here is the ….CHART!

[photopress:USO.jpg,full,1]

This chart is brought to you by Tradecision

[photopress:spot_oil_daily.gif,full,1]

Is it time now?uhm…AUDUSD

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Ok, first rule, I am only looking at the Long side of Aussie dollar (AUDUSD) and GOLD. Are we going to have rate cut in the coming month? Nah, I don’t think so. In fact, I have no idea what on earth is the new government doing now. Whatever…

Anyway, for trading purposes, I feel 0.96-ish is a pretty nice Long entry zone. I am waiting for entry setup to form.

Here is the …. CHART!

[photopress:audusddaily.gif,full,1]

Here’s the statistics

[photopress:audusddaily_trend_1.jpg,full,1]

About this tool

[photopress:golddaily_1.gif,full,1]

Here’s the statics

[photopress:Golddaily_trend_1.jpg,full,1]

About this tool

Trading links stocktake

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I was doing some housekeeping on my bookmarks, here are some trading links I thought it might be useful to my readers.

Trading Plan:

General trading readings

That’s all for the time being. Busy week for me, I am trying hard to allocate some time for trading, research and reading.

Hello! Asia…no..Ouch! Asia….

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This is not a Forex trading post. While doing my regular Sunday morning reading and chart browsing, I see this interesting picture. I happened to open up charts of Asian markets related ETFs, what a unity. Nothing new, just to note down, probably, the first bear market in my life. Yup, I am just turning 30 next week.

Here is da ….. CHART! Hang on, do you see something? Are we all hanging around support area now? uhm…

[photopress:ETFs20July2008.jpg,full,1]

Chart is brought to you by Tradecision.

You will start reading some ETF posts from me. Of course, majority will be on currency ETFs. Anyway, I am still the currency-man wanna be. 😆