What a day for EURO! Just as I thought it might be a boring day, I saw something was cooking in EURUSD chart. I went long during London session. This is a classical text-book style setup. OK, again, it is Trader Gav’s text book though. 😆 My plan was to catch the ride when it tried to test historical high again. So, I was looking to exit the position some where at mid 1.58-ish. Yup, it was mission accomplished. I forget the number, I think this is another 100 pips trade. (Maybe I will update the figure after getting my journal done.)

Here is …… commercial-class CHART! looks like a snake-oil trading course advertisement now. 😆

[photopress:EURUSD09April2008.jpg,full,1]

Monday, I had a couple of currency pairs in my box. Generally, I am bullish about Aussie dollar, EURO, and kinda bearish about GBP. I went in for long positions with EURUSD, AUDUSD, and do a intraday short of GBPUSD.

GBP trade was a crap. It was a bad-timed entry. Nothing to write home about. I got -1R on this, smaller than normal R-sized for this trade though. EURUSD was a surprise. I was thinking the trade might be going nowhere, but heck, profit target 1.5800 was achieved during Tuesday asian session. Not too bad for a night’s work, around +90 pips profit. 🙂

Here is….CHART! another trading course commercial-like chart. 😆

[photopress:EURUSD07April2008.JPG,full,1]

So, I see something better, maybe something pleasant. We had weaker than expected employment condition in U.S. In addition, RBA maintains the possibility of further interest rate hike later. I am not into fundamental analysis, but the current condition seems to favor my still bullish view of Aussie dollar. Anyway, we are back to 0.92-ish now. In fact, my next trading target is somewhere around mid-93-ish level. Let’ see how it goes. 🙂

There is one thing to watch out…GOLD! This crap is still enjoying its diving session. 😆 . I mean, we might still need some time to see if GOLD is to rebound. This, of course, influences how Aussie and dollar perform.

Here is the….CHART!

[photopress:audusd06april2008_1.gif,full,1]

Here is the….Trend Score! A weak uptrend might be a start of new uptrend, at the same time, it might be just a trap. let’s see.

[photopress:audusd06april2008_trend.jpg,full,1]

About this tool

It is end of March. Sky above Melbourne Australia is kinda grey-ish. Rainy autumn days. Does it set up the mood to short some Aussie dollar? :o: .. Unintentionally, I have been trading AUD/USD for quite sometime. Maybe it is because, it is now my home currency, or maybe it is just because commodities currencies are in play for the past few months. Whatever it is, AUD/USD did give me some profit, that’s the point.

OK, for long term holding, I am still bullish about Aussie dollar. However, I am not adding/establishing new long position at the moment. Things are not looking good, in my definition, yet. I might do a couple of day trades (in the short side) in the coming days/weeks. Looking into shorter time frame (4-hr for example), we are indeed in a small downtrend since mid-march. Btw, my ‘proprietary’ momentum indicator (Long Black, named after my favorite coffee 😆 ) is not bullish, yet.

Here is the….. CHART!

[photopress:audusd28march2008.gif,full,1]

And here is the ….. Trend Score

[photopress:audusd28march2008_trend.jpg,full,1]

about this tool

[photopress:eurgbp26march2008.gif,full,1]

Does this chart look like the one that appears in trading course advertisement?

“Ok, here is the secret to profit from forex trading, use my system to predict the explosive move!”

🙂 LOL.. Nah. this is just one of the trades I made today. I found the chart to be eye-catching. Concentrating in making good trade, beautiful charts will follow. I longed EUR/GBP . I expected a stronger Euro, but I did not predict it to be sooo strong today. :o:

We see Gold rebounds, I am still waiting for Aussie dollar to settle and give me a clearer picture. Let’s see how the market goes.