Here is one simple trade I have made today. Nothing fancy here. In hourly chart of AUDUSD, a bearish candlestick reading was observed, and, in addition, previous swing high was taken out. These gave me a bearish view. Ignoring the hype of improving Aussie employment figures, and RBA rate hike news, these did not sound good to me. I went short. And here is the chart.
I had a quick look at AUDJPY. Here is what I see, and I love this chart. Are we, again, heading for another breakdown? What do you think?
Here is the … CHART! (click to view full chart)
Some technical statistics
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:
So, we know NFA has been changing rules. Retail traders are complaining, moving away from U.S based brokers.
But, is the change really bad? Well, firstly, I am not trying to defend NFA. I am just thinking, should I really look for another European based, or Australian based broker?
I am not sure. The change of the margin requirement does not affect my trading, since I am never a high leverage player. So, increase capital requirement of broker, increase margin requirements for Forex position, is there anything that I miss out and it is really bad for the business?
Any thought?
And, about European brokers, I’m totally unfamiliar with them, and hence,not confident of sending money to them. So, I maintain status quo now, leave my trading fund with some big U.S based broker.
I’ve only made a couple of trades early of the week. I generally do not initiate new positions during FOMC, NFP week. So, most of the time, I am just enjoying watching the markets.
Meanwhile, I am preparing my travel-trading plan for the coming months. As mentioned before, I’ll be travelling around South East Asia countries for the next few months. One thing for sure is, I’ll never stop trading. So, I need to get my equipments setup. On the other hand, we are heading into holiday season soon (Christmas, New Year is around the corner), I think it is worth to observe the volatility and liquidity for the coming month.
No open position at the moment.
To me, the Cable buying during last session did not change the trend. Instead, I thought there might another opportunity for SHORTs? This is a text book pattern. Nothing fancy, let’s see how it works out. If the the breakout of the pattern realized, I am revising the downside target to around 1.6-ish, still in the zone support zone as mentioned in my last post.
What do you think?
Here is the …. CHART!
Some technical statistics
