Ok, again, I am going to reveal a ‘trading secret’. ‘Go long when market goes up.’ Cool? 😀

Back to business. There were not too many opportunities today. I missed the short of GBP/USD, because I was busy having dinner :o: . I went long of AUD/CAD. Yup , again. I saw a stronger Aussie and weaker Canadian dollar. Exit the trade after waking up in the Melbourne morning before I am heading to work. Just a +25 pips trade.

Aussie is still looking strong, my gut feeling tells me it should continue moving for a little while. But well, too bad, I have to exit the trade now.

Here is the……CHART!

[photopress:audcad09jan2008_tradeclose_blog.gif,full,alignleft]

Listen carefully, I am going to reveal another trading secret for my readers. ‘ Escape when market does not move in your favor‘. Happy , eh? 😀

Back to business. A contrary to yesterday’s long watch list, I did not see too many opportunities today. I went long at AUD/CAD. But, heck, it just failed to continue moving and negated my setup. So, a -43 pips trade.

I am still watching AUD/CAD, my gut feeling tells me that I might get 2nd chance to go long again. But, hey, that’s my gut feeling, don’t steal it.

Here is the ………….WAIT, no chart. I only post beautiful charts here, so don’t expect to see my losing trade. :o:

Update of 2nd trade:

uhm…I went long AUD/CAD again during London session…And after a good night sleep (now is 7 am in Melbourne,Australia), around ending of U.S session, I closed the position with +12 pips or so. (Another reason of closing the position is because I do not have access to my trading platform in office)

Here is the…….CHART!

[photopress:2ndaudcad08jan2008.gif,full,alignleft]

If you really wanna know my view of Aussie now. Generally, I am still positive. But, for trading purposes, I have no position now. I intend to go long at the moment. Just waiting for the entry. Yes, I just can’t get myself to short Aussie dollar now. Without wasting too much time, here is the weekly and daily……….CHART!

[photopress:audusdweekly05jan2008.gif,full,alignleft]

[photopress:audusddaily05jan2008.gif,full,alignleft]

So what happen to Aussie dollar pair now? Let’s have a look. Urgh….a little bit ugly, isn’t it? We have a little small box with rather negative bias at moment. I mean, it is very likely to break out to the down side. uhm….

Here is the …….daily CHART!

[photopress:AUDUSD15Dec2007Daily.JPG,full,alignleft]

And let’s go into 3-hour chart to have a look. Urgh…uglier…LOL….man, the kangaroo is jumping to the wrong side. As mentioned in my comment, I am practicing ‘wait-and-see’ approach for AUD/USD pair at the moment.

Here your favorite…… CHART!

[photopress:AUDUSD15Dec20073hour.JPG,full,alignleft]

Here is another pair that caught my eyes. GBP/USD, a.k.a Cable.  I see a potential short setup appears in daily chart. Momentum is still bearish, and recent swing up might provide a shorting opportunity. Let’s see how it goes. My day job is just too demanding. I am unable to day trade at all. I am now focusing on daily chart for the time being.

Here is the…..CHART!

[photopress:GBPdaily13Dec2007.JPG,full,alignleft]

I am looking at loonies pair. From the daily chart, it forms a pretty nice short setup. A lower high seems to be forming. Btw, this is a Heikin Ashi chart. And recent bullish momentum of USD seems to be flat out. Maybe market is just waiting for the interest rate statement on coming Wednesday?

So what is your take on this? Short? I have a short bias now.

[photopress:USDCAD10Dec2007.JPG,full,alignleft]