Firstly, I am not sure if I am going to trade in the coming week. We have interest rate statements from Australia, New Zealand, Canada, U.K , ECB, and Bernanke is going to say something, and to make it more interesting, U.S unemployment Rate is coming. I might just sit in front of my screen watching the market and watching some Japanese soap dramas. The week is probably too volatile for an old man like me to trade. :o:

Anyway, it is another Sunday night chart scanning session. GBPJPY jumps out. I admit that this is the pair that I traded the less, and with the least success in the past. 😆 Generally, I see the strength in YEN since last week. And , at the same time, I got a feeling that GBPUSD is hitting resistance soon. I am holding a negative view of GBPJPY. Well, as usual, I am always wrong 😀 . Let’s see how it works out.

Here is the ….. Trend Score. We have a strong downtrend grading towards GBPJPY.

About this tool

Here is the…….CHART!

[photopress:gbpjpy03march2008daily.gif,full,1]

I am done for the week. Trading preparation will be resumed over the weekend. Now is the time to enjoy coffee and forget about trading. 😀

If you are reading my blog, sorry, I am going to show off again :-). Nah, but, I do think I perform pretty well recently. (OK, I am still a humble Asian Chinese man…)

I completed all my Aussie trades. I exited the trade when we are hitting historical high 0.94 again. I am sitting on ca$h now. 😀 But, I am not done with Aussie. I am waiting for 0.94 to be cleared. I will get in again. I love Aussie. Aussie chicks are irresistible , Oops, I mean Aussie dollar 🙂

This trade ends with + 2.5R. Over the past two weeks, AUD/USD has generated few hundreds pips of profit. I forgot the figure, anyway, that’s not the point. I think I made another good trade.

Btw, I would like to declare February as Aussie Month!. 😆

Trading plan

Probably, I will not be trading this week, to avoid making some stupid trades.

Here is the …… CHART!

[photopress:audusd27Feb2008.jpg,full,1]

Yes, Gavin, a.k.a Trader Gav is on fire. And I am showing off here :o:

I made another loony trade. I shorted USDCAD. This is a text book setup. OK, it is my text book, I don’t think you can find  it in Amazon, so give up!. 🙂 This is 1:2 risk/reward trade. Target on 0.9900. Everything worked as planned, bagged another +60 pips for the day. I started feeling arrogant, and careless now. So, I am done for the day. 🙂

Here is the ……..CHART

[photopress:usdcad26Feb2008.jpg,full,1]

I feel happy, not only because of the money I have made, but I just complete yet another good performance.

?????????????????????

Again, the reason I post these trades is just because the chart looks so beautiful. You want some trading secret? ok , here we go, ‘ bigger time frame, bigger profit’. Happy? 😆

I closed partial AUDUSD position when it hit my first profit target, slightly below 0.93 level. Not too bad with a 3.36-R profit for this trade. I am still holding Aussie dollar now with 0 risk, since stop was moved to break even , and yes, as long as it stays above 0.92, I will hit it again.

Here is the …..CHART!

[photopress:AUDUSD26Feb2008_Trend.jpg,full,1]

And , Kiwi!, you weak kiwi!, no comment, I hate kiwi! 😆  I was stopped at break even, with awesome o pip profit.  And I am not done yet. As long as it goes clear above 0.81, I will be there again.

Here is the …..CHART!

[photopress:kiwi26feb2008trend.jpg,full,1]

Not bad  huh, I think I did pretty well in these two trades. I am certainly not being humble. 😆