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Trading Journal

$AUDJPY 12 Nov 2010

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Here is the $AUDJPY chart I mentioned earlier on. I am holding long position, with some profit booked, and stop is now at break even. This is a text book 5-0 formation where all fib levels are nicely respected.

[tab: Setup]

Here is the chart to confuse you.

$AUDJPY 5-0

Have a great weekend!

[tab: Update 18 Nov 2010]

The pattern works now nicely. With the weakness of JPY at the moment, and AUD gaining some strength, the pair might stretch further. But, there is also a possibility of forming triple tops, and now it is trading at the top of channel as well…so..

Here is the updated chart.

$AUDJPY 5-0

$GLD GOLD 08 Nov 2010

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I am looking at GOLD chart this morning, I got the feeling it might be the time to see some corrections soon. It is now trading around the top of the recent channel, and there are confluences of Fib extensions and harmonic patterns. I have two potential zones defined on my chart. Let’s see how it works out.

[tab: Setup]

Here is the CHART to confuse you.

GOLD 08 Nov 2010

Define your level, and trade the level.

Trade well.

[tab: Update 13 Nov 2010]

Here is the updated GOLD chart.  We have a pretty nice pull back of GOLD (not without some initial shaking though)

$GLD Bearish harmonic action

$EURGBP 05 Nov 2010

by 4 Comments

Here is what I see in $EURGBP.  I am looking at the potential head and shoulder formation. Let’s see how it works out.

[tab: Setup]

Here is the CHART! (click on the chart to magnify)

$EURGBP Head & Shoulder

[tab: Update]

EURGBP did not follow through, and it failed to reach the level to form H&S. No trade was taken.

EURBGP update

$GBPJPY 04 Nov 2010

by 3 Comments

Let’s have a look at the beast, $GBPJPY.  I see some confluences of Fib levels, resistance levels and harmonic pattern formation. I am interested in getting in some shorts around 131.80 level or slightly above this level. Let’s see..

[tab: Setup]

Here is the…. CHART!

$GBPJPY 04 Nov 2010

[tab: Trade update]

No update at the moment, come back later.

[tab:END]