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Myth Polls series 1: Fibonacci

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Ok, beginning of the year. FOMC meeting minutes, Non Farm Payroll reports are lining up, and traders are still in some kinda holiday mood. So, I will start trading sometime next week. Let’s have some fun before getting into action.

I am a straight forward and slow trader, look at the charts I’ve posted on this blog, you know how dumb I am. I can’t figure out why do some magic numbers/methods, such as Fibonacci, Gann, astrology or even idiot wave (oops sorry, is it Ell-iot?) etc work for some traders (or do they really work? God knows). So, I decided to run a series of polls to see how many of my readers are actually using these tools or craps (oops, sorry) to trade, and consistently profit from them. Well, you know what I am saying, we are looking for a consistent approach. Oh man,consistent, man, consistent. Let’s collect around 100 votes for each poll before continue to the next one.

So, the first one. Fibonacci. [Read more…] about Myth Polls series 1: Fibonacci

Weak dollar for new year

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While Tom at Neural Market calls a breakout of Gold, I am looking at the bearish USD as well (check out Tom’s blog for Gold chart). Technically, I am positive with the view of Gold breakout. For the beginning of 2008, I am still bearish about USD. Just being patient for right setup to appear now.

[photopress:_USD_daily_30Dec2007.JPG,full,alignleft]

Do you Facebook ?

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I started playing around with Facebook couple of weeks ago. Well, I still can’t really get into this hype. Yup, I did find some ‘long-lost’ friends. But the frequent likeliness tests, fun pokings, or even the fun wall messages are just….boring. I don’t know, what is really so attractive about Facebook?

Lindsay has her first touch with Facebook.

Is it time now? Look at AUD/USD uhm..

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So what happen to Aussie dollar pair now? Let’s have a look. Urgh….a little bit ugly, isn’t it? We have a little small box with rather negative bias at moment. I mean, it is very likely to break out to the down side. uhm….

Here is the …….daily CHART!

[photopress:AUDUSD15Dec2007Daily.JPG,full,alignleft]

And let’s go into 3-hour chart to have a look. Urgh…uglier…LOL….man, the kangaroo is jumping to the wrong side. As mentioned in my comment, I am practicing ‘wait-and-see’ approach for AUD/USD pair at the moment.

Here your favorite…… CHART!

[photopress:AUDUSD15Dec20073hour.JPG,full,alignleft]

Is it time now? Look at GBP/USD uhm..

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Here is another pair that caught my eyes. GBP/USD, a.k.a Cable.  I see a potential short setup appears in daily chart. Momentum is still bearish, and recent swing up might provide a shorting opportunity. Let’s see how it goes. My day job is just too demanding. I am unable to day trade at all. I am now focusing on daily chart for the time being.

Here is the…..CHART!

[photopress:GBPdaily13Dec2007.JPG,full,alignleft]