I have not been posting too much recently, partly because I am kinda under the weather for the past few days. It is not fun to fall sick during winter. However, I am still active in Twitter.
Anyway, here is the the potential short setup I am watching right now. GBPJPY looks exhausted to me.
Here is the ………..CHART!
I am not taking this trade (EURJPY) due to bank holidays. UK and U.S banks observe Spring Bank Holiday and Memorial Day. I am not interested in trading during holiday session. Anyway, the chart sets up nicely. It provides a nice short setup for short term trade, however, risk is relatively higher trading during the holiday session. Well, that’s what I think.
Here is the ….. CHART!
I am obviously at the wrong side of market this week. So, before any serious damage , I decided to stop my car for a while, and enjoy watching. 😆
We saw a pretty good run of British Pounds crosses recently. However, good things seem to come to an end. I saw bearishness across GBP crosses. Looking at the bigger time frame of GBPUSD (i.e daily and weekly), now might be the time for down trend to resume. For short term trading (1 to 2 day time span), I am looking at EURGBP Long, GBPAUD and GBPCHF Shorts. Swing trade, GBPUSD is another shouting SHORT to me.
Here is the….CHART!
You can find my shameless, fatal market calls on Twitter and charts on Chart.ly.
It is Friday!
I managed to make some trades this week. CHFJPY, NZDUSD shorts are the winners of the week while I missed out some short term trades in AuDUSD, AUDJPY, NZDJPY. Having in the slightly ‘difficult’ situation recently, unpleasant day job, family issues, stress were building up faster than I imagined,this situation put me in some sorts of tests. I learned heaps. And fortunately, not in the hard way.
And most importantly, my overall trading survives. Having strategies in place for different time frames and market conditions, it helps to maintain profitablity consistently. My overall objective is to always maintain profitable week if possible. I asked myself ‘Why would I bother to continue trading when I am in such difficult condition?’ My simple answer: Why not? I took a day or two off to rest, however, I don’t see the need to stop working just because I am under stress. In addition, I know I am prepared to trade. All I need to do is to execute the plan. OK, let’s don’t go into the lame topic,’The imporatance of trading plan’ BS. The point is, as long as you know what you are doing, then don’t stop doing it.
I am sitting on cash now, and no trading on Friday. Spending time with my family, and looking forward to meeting some friends for a farewell dinner before they leave Australia.
As usual, if you are interested in listening to my nonsense and some fatal/shameless market calls, follow me on Twitter.
Or picture of AUDUSD before $60 billion budget deficit? 🙂
Well, it is a shouting SHORT….. Keep this chart as record. Not sure about the effect of budget 2009 to the currency. I am not trading the pair for now, but watching closely.
