As mentioned in my Twitter, I was looking at Long Euro and short Cable. GBPUSD went without me. I managed to Long entry of EURUSD. Around +70 pips. It might go up further, but, who cares, profit target was taken.
Here is the …. CHART. (Click to view full image)
I was thinking of posting some analysis, some charts here. I gave up the idea. There are blogs out there writing much better analysis than I do. Anyway, looking at the weekly chart, I would not think it is a good idea to continue shorting EURUSD. Well…I am not talking about day trading. You got the point.
In term of Forex day trading, this was a pretty quiet week for me. I missed one trade, made one winner, and watched from sideline for the rest of the week. In addition, I have been doing some futures trading on ES lately, I see trading opportunities that I have not seen before. I see good progress. I’d see if it is possible to bring my futures trading back to routine.
Something shocking, and interesting happened this week. I experienced earthquake in Melbourne! Well, a tremor to be exact. 4.7 magnitude earthquake happened around 96km away from Melbourne. I was sitting on the couch with my wife, watching Ramsay’s Hell Kitchen (did I tell you , I am fan of this f*ker? 😆 ), and the apartment was shaking for 5 to 10 seconds. Seriously, I didn’t know what to do other than waiting for it to stop, and immediately rushing out from my apartment. Nothing really serious, but this is a special experience. Who would expect earthquake in Melbourne?
Back to trading. Ocasionally, I would discuss or share my trading ideas on Twitter. In case you are interested, you can find me here.
I am actually looking for long signal. Yes, I am waiting to go long. We are waiting to see how does RBA react now. Do they still think that the stimulus package is going to do any good?
Well , it is understandable why were they so confident about the stimulus package. During the Asian crisis, around 1997 to 1999 , Australia managed to grow at an average rate of 4.7%. The country’s sound foundation of strong domestic consumption was able to save Australia from past crises. Consumer consumption was the key.
They still believe in this. I guess.
Anyway, I don’t believe in what they choose to believe. But I am looking to long Aussie dollar now.
Here is the….CHART! (Click to view full chart)
Again, the chart shows you everything. I was looking to Long EURUSD (My Twitt) Simple technical trade. Dummy style. Day trade during London Session.
Here is the … CHART! (Click to enlarge)
I think the chart shows everything you need to know. As mentioned in my Twitter, I was looking to long GBPUSD. Pretty simple technical trade. Similar to my dummy trades, but of course with some tweaks.
Here is the…… chart (click to enlarge)
Nothing really new. I am trapped and exhausted. I am talking about my day job. What can you do when you are working in an environment where there is an obvious skill incompetency in the team? I don’t know. I am not complaining too much since I am an independent professional. I do whatever I am supposed to do , and leave. The job just makes me tired and sick.
Trading front, I am not too active this week. Made 3 short term GBPUSD trades during London sessions, 2 winners, 1 loser. Nothing much to talk about. I am starting this type of short term trading, experimentally, as I foresee in the near future, I might have the luxury to spend more time in front of the screen. ATS is still work in progress. I am running the system, analyzing the signals, but , not making live trade. It is really easy to create a system or a program to generate trading signals. But, it requires a lot of energy and time to manage the trade when the signal comes. Given my current condition, I will screw up good signals.
I am studying some patterns in oil futures now. Probably I will post 1 or 2 findings here later, well, if I find it appropriate.
All right, it is time for me to make my Espresso, and enjoy the Sunday morning. It is 9:20am at Melbourne now.
Have a good weekend, and good trading week ahead.
