Not going to write too much. Aussie dollar is rallying. At the same time, does this chart look like another SELL to you soon? Are we looking at 1.6 level to be broken soon? Uhm…..
[photopress:euraud21may2008_4hr.gif,full,1]
Here are some statistics:
[photopress:euraud21may2008_4hr_trend.jpg,full,1]
by Gav 8 Comments
I don’t trade Cable. I found my trading performance sucks when trading GBPUSD. 🙂 But I do follow the development of this currency pair. OK, to save my breath (man, I am having bad flu now..winter is coming..) , here is the chart. Does it look a SELL to you?
Trend Score: -85, we are in a downtrend
[photopress:gbpusd19may2008_trade_4hrchart.gif,full,1]
[photopress:gbpusd19may2008_trade_trend.jpg,full,1]
by Gav
I went long on EURGBP. So , this time, the tips or Junk ideas appear to be a tips. I closed partial of my position and let the rest run. Here is the 5-minute chart to show the development of the entry setup. No rocket science, just try to ride on the bull when it is taking a short break. Think…..
OK, here is the….. CHART!
[photopress:eurgbp12may2008_trade_closed_1st.gif,full,1]
OK, I have another tips or junk idea here. I am not going to write too much. Does this chart look a BUY for you soon? What do ya think? 🙂
Trend Score: +65 , a weak uptrend now
Edit: I forgot to mention, this is EURGBP!
[photopress:eurgbp11may2008.gif,full,1]
There is no such thing as the trend; there are countless trends, depending on the method we use to determine a trend. People typically pick a method for determining trend that fits with their current positions and/or view of the market. ~ Ed Seykota (TradingTribe)
In a shorter time frame, I see some price formation which will probably lure some traders shorting EUR/USD again. I am not into it this time. To me, for short term trading, I don’t see good risk/reward setup now. Well, again, that’s in Trader Gav’s definition.
Here is the…..CHART! The color dots are just to impress my readers. Showing off my programming skills. 😆 .. Nah. Basically, we are reaching a longer term support area. (Again, that’s my definition of long term). So, I hesitate to be on short side at the moment.
[photopress:eurusd11may2008.gif,full,1]
Here is the …Trend Score! We are in a very weak Downtrend. I am looking at a choppy consolidation phase soon. Let’s see how it works out.
[photopress:eurusd11may2008_trend.jpg,full,1]
OK, this is not a good trade, in my definition. I am not being myself today. Anyway, I exited short position of EURUSD around 1.54-ish. I didn’t like the fact that price flirted around 1.54-ish level. (OK, maybe this exposed my weakness of unable to hold on the winner). Whatever, not a good trade, but nice chart. That’s the reason I am writing this post. I am going to show off yet another nice chart. Shoot! Did you read my junkie idea in the previous post?
[photopress:EURUSD07May2008.jpg,full,1]
