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FX

Sunday chart scanning….waiting..

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Immediately after getting back from vacation, I am tied up with my day job again. What the….. :-|, Anyway, I have been spending sometime studying the market. Heck, to be frank, I found it pretty tricky to trade the currency markets recently, well, at least, to my style of trading. A lot of time, I am sitting aside watching the market, and sometimes, just missing the entry. Whatever.. Trading result is pretty flat, uneventful.

While waiting for the opportunity to appear, I continue developing my trading model, well, I might reveal one or two lines here when I am comfortable with it. Anyway, in short, nothing interesting appear in my Sunday chart scanning. Well, if you really want to hear something, ok , look at Long side of AUDUSD..

[photopress:AUDUSD30June2008.jpg,full,1]

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Action : Sit back, enjoy my wine.

Sunday chart scanning summary

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I did not have a chance to trade for the past week. My day job is getting ridiculously busy. Most of time, I miss out Asian, London session totally. Well, it happens sometime. Next Saturday, I will be flying to Malaysia for a 2-week vacation. I need to recharge myself.

I do not have any ‘tip or junk’ idea at the moment. I don’t see any favorite setup. However, it is interesting to see EURO  showing weakness across the board. I will be interested in looking for short position for the coming week (well, if I do have some time…).

And, Gold looks interesting. I am not bullish at the moment. It looks a little bit ugly now…

[photopress:golddaily.gif,full,1]

[photopress:golddaily_trend.jpg,full,1]

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Sunday chart scan summary

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I had an hectic, crazy, cum annoying week at my day job, and at the same time fighting with the disturbing flu. Hey, you’ll never know how tough it is to deal with idiots….blah…whatever, life still goes on.

Back to business. What do I see in my Sunday chart scanning? Nothing. My last two ‘tip or junk ideas’ appear to be junk. But, in fact, I am still looking at short side of EUR/AUD at the moment. I am watching , things might change in the coming week, who knows.

Another interesting chart is USDCAD. I am looking at short side, but, I am waiting for the price to settle itself now.

Here are some statistics :

USDCAD, Trend score: -70

[photopress:usdcad4hr.gif,full,1]

[photopress:USDCADTrend.jpg,full,1]

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Tip or Junk idea : GBPUSD

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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]

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One EUR/GBP trade

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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]