ABCD..$EURGBP 13 Oct 2010

Just in case you are into this, there is an ABCD formation in hourly chart of EURGBP. I looking at 0.88 level to be broken for any further downside possibility.

Here is the Chart!

ABCD formation in EURGBP

Trade of the day 12 July 2010: $EURGBP Short

My internet connection has been extremely unstable and crappy today. I am in fact taking additional risk by continuing trading 🙂 . Anyway, this is a pretty straightforward technical trade. EURGBP was hanging around Friday’s high, with failure to make it above 84 level. Short position was entered at 84, two profit targets were achieved, while the last one was taken out by the abusive price action around New York noon. The details of how I managed the position, you might want read my previous post on trade management.

Here is the… CHART!

Chart of the moment $EURGBP 24-Nov-2009

Here is the chart I am watching closely. EURGBP is due for breakout. Which way do you reckon?


Chart of the moment $EURGBP 06-Nov-2009

I am looking at 240 min chart of EURGBP. Are we heading for another breakdown? I am watching closely, and maybe, we are looking at 0.87-ish. What do you think?


Some technical statistics:


About this tool

Saturday, updates

I am holding my short position of EURGBP right now. This is an interesting trade, probably because of the intense converstation between me and Davidpotts on Twitter. He is out from the position now while I am still holding on. Let’s see how it works out. So far, I am still convinced that EURGBP is overbought. I will let the market take me out if I am wrong.

Increasingly, I am getting more and more uncomfortable talking about details of my trade on Twitter. Firstly, I never intend to offer free entertainment or education (if there’s any 🙂 ) service to silent readers.  And the only purpose I can see the fellow twitters doing so is to attract readership of their premium services, or paid newsletters subscriptions. I offer none of them, anyway.

I like the discussion like the ones I had with David but, keep the conversation public is not something that I am confortable with. Not sure what am I going to do next.

Anyway, one trading day left for the month of August. This is a relatively quiet and not so impressive trading month. Looking at my monthly report, I stay rather flat at the moment. Let’s see what September brings to us.

I am looking forward to tonight’s home cooked Burger dinner at my friend’s place. It is always nice to catch up with friends. Here is the menu I’ve received

Be surprised!
(fact is we havenÂ’t figured that one out)
Pommes frites
with a choice of rosemary or truffled salt (i.e. French fries)
Hamburg steak
(i.e. hamburger)
It also comes with a free burger bun,complimentary condiments, pickles,salad…
(no we donÂ’t charge for tomato sauce and mustard)
A really mean A&W root beer float with vanilla ice cream

Short $EURGBP orders canceled – 3rd class Oanda

Just how bad is Oanda’s tradig platform. I decided to cancel all short orders of EURGBP after watching the FXtrade platform behaved weirdly.


Look at the distance between the order price and the current price. They were around 100 pips away, but, it was showing as 1.1 pips? And I tried to switch tabs, it appeared correctly for a second, and back to 1.1. Did I miss out anything?

You can’t trade your capital on this type of platform. Of course, I am not talking about the minis.