Here is one nice chart to show. Two day trades, 1 stopped, another with couple of Rs. Small positions, still playing around with new setups.
[photopress:_GBPJPY__27_8_2008_1.jpg,full,1]
Trading Journal
Leave Aussie alone…
Oh crap. That’s the term I used the most last week. :lol:. Man, Aussie dollar was breaking down again and again. It broke my 0.93 support, and now trading below 0.90. Holy smoke… 😆
I did not make money from shorting Aussie dollar last week. The excuse I am going to use is…I was darn busy with my day job. What a crappy excuse, isn’t it? 🙂 .. Nah, the fact is , my trading style tends to hold the position for a longer period, and negative interest position is not a good idea for me. So, I would rather stay away from the market.
Is next week a good time to short Aussie? I don’t think so. Well, at least I am not doing that. We have RBA monetary policy statement coming. But, don’t you think the on plate interest rate cut has already been priced in? Expect a volatile week, I am not trading. I would rather spend my time watching Olympics Games.
Here is the…..CHART!
[photopress:aussie_daily.gif,full,1]
Some statistics
[photopress:aussie_daily_trend.jpg,full,1]
Here is the ETF ,CurrencyShares Australian Dollar Trust (FXA)
[photopress:FXA.jpg,full,1]
Chart is generated by Tradecision.
Worries in Aussie?
Is Australia heading to recession? Some said next 3 months are crucial…
Think of it like this: we are in a car that has been braking sharply as a result of higher interest rates, higher petrol prices, diminishing household wealth and fear of what might lie ahead. Now the car has slowed sharply, the question is whether we, the decision-makers of the economy, keep our foot on the brake, and slow down even further, or release it to keep cruising at our present speed.
The Reserve’s goal was the latter: if Australia’s growth in output slows to about 2.5% 2% excluding farms and mining it believes inflation will gradually crawl back within its target zone of 2% to 3%.
Are the decision-makers, the good driver? Not too sure.
EURUSD…Not yet, but soon?
Daily chart of EURO is a beauty. Consolidation, breakout, consolidation, breakout. I love this chart. Well, we are again in the consolidation phase, and at the new high area. I remain positive now, which means I am only looking at the Long side at the moment. It depends on what do you want from the market. Accumulate long position to anticipate the upside breakout? or hold your breath now and wait for the breakout.
Here is the….CHART!
[photopress:euro_daily.gif,full,1]
Here is the statistics
[photopress:EURUSD_trend.jpg,full,1]
And here is the FXE (CurrencyShares Euro)
[photopress:FXE.jpg,full,1]
Chart used Tradecision
OIL..is it over? Yet?
Let’s have a quick look at USO ( United States oil Fund, ETF) and spot Oil price. I am not sure if people start talking about the bull run is over. Well, not yet. Uhm…I am not convinced, yet. This implies, the recent strength of Dollar might be short lived? There is another theme calling commodity run is over. I am not surprised to see these two theories now. Pickin’ top and bottom is just part of human nature.
For a short term trader like me? I am waiting 🙂
Here is the ….CHART!
[photopress:USO.jpg,full,1]
This chart is brought to you by Tradecision
[photopress:spot_oil_daily.gif,full,1]
Is it time now?uhm…AUDUSD
Ok, first rule, I am only looking at the Long side of Aussie dollar (AUDUSD) and GOLD. Are we going to have rate cut in the coming month? Nah, I don’t think so. In fact, I have no idea what on earth is the new government doing now. Whatever…
Anyway, for trading purposes, I feel 0.96-ish is a pretty nice Long entry zone. I am waiting for entry setup to form.
Here is the …. CHART!
[photopress:audusddaily.gif,full,1]
Here’s the statistics
[photopress:audusddaily_trend_1.jpg,full,1]
[photopress:golddaily_1.gif,full,1]
Here’s the statics
[photopress:Golddaily_trend_1.jpg,full,1]
