by Gav 8 Comments
I don’t trade Cable. I found my trading performance sucks when trading GBPUSD. 🙂 But I do follow the development of this currency pair. OK, to save my breath (man, I am having bad flu now..winter is coming..) , here is the chart. Does it look a SELL to you?
Trend Score: -85, we are in a downtrend
[photopress:gbpusd19may2008_trade_4hrchart.gif,full,1]
[photopress:gbpusd19may2008_trade_trend.jpg,full,1]
by Gav
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]
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)
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]
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]
I am not going to write too much. Are these charts look a sell to you? Think…
EURGBP : Trend Score: -55
[photopress:EURGBP06May2008.gif,full,1]
EURUSD : Trend Score: -70
[photopress:eurusd06may2008.gif,full,1]
NZDUSD: Trend Score: -55
[photopress:nzdusd06may2008.gif,full,1]
