I was going short of USDCAD and long AUDUSD, however, Aussie order was not filled, missed the move. Dang. Anyway, I thought USDCAD trade was beautiful, and is worth sharing here. I went short after price reached the resistance level. In other words, I was waiting for the pull back to complete and the sell off to resume. I have two profit targets completed, and one still trailing. Looking at 1.05 as target now.
Here is the CHART
I have been trading the whole week, and still holding half position of EURGBP long. I just did not find time to write anything here. There are just too many things to think and handle outside my trading life recently. A little bit stress is building up… Anyway, that’s not the point of this post.
AUDUSD and AUDJPY start to confuse me now. I can’t see the clear picture, so I will leave them alone for now. Some of you might argue USDCAD is back to buy zone again. Well, this time, I am not so sure. I am not sure if we should jump in now. It does not convince me so much. Instead, we might see a run to mid 1.02-ish. Well, who knows? Let’s see.
Here is the CHART!!!
I exited my AUDUSD long position earlier today with small loss. The entry was too early. However, I am still looking to build long positions of AUD, NZD and CAD (by Short USDCAD). Let’s see how this strategy works out. Basically, my approach is to test the market, if it does not work out, I run, building another position. No scalping though. OK, I am talking too much now.
I had a look at GOLD. This is another reason I am interested in building long positions of commodities currencies. Well, though this is not the only factor. Take a look at Daily and 4-hr, what do you see? Is it going to break or bounce?
Here is the chart (click to view full chart)
Here are some technical figures:
I have been really busy and exhausted outside my trading life. There are ideas coming into my mind but I just do not have enough time and energy to write it down/blog it down. After USDCAD trade (which was stopped at breakeven), no new position was added. Market is playing the game of patience with me right now. Meanwhile, I am squeezing out some time to work on a couple of strategies, which was in researching phase. The progress is kinda slow.
In addition, I was recently invited to try out premium service of Tradersinterview.com. It is awesome. There are quite a number of interviews in premium section that is worth my time and money. If you had listened to the free interview from them, I am pretty sure you will be impressed by the premium section. Some of the interviews are not only inspiring, but full of new ideas. Check it out. I might write a full review later (depends on my availability…)
That’s all for this short update. Have a great trading week.
Firstly, thanks to all the comments in the last post. I’m glad to know the interview of an old fart Asian trader offered some help/entertainment to my 12 readers. 🙂
Anyway, back to business, USDCAD catches my attention. It has been moving upward for the past 2 weeks. However, it looks to have reached the point to resume its downtrend in daily chart. Let’s see. As usual, if you are interested in the listening to my rant and fatal market calls, follow me on Twitter.
Here is the…CHART!
Here we go. My Really Dumb Trend system fires buy signal for EURJPY. It looks a little stupid… 😆
Anyway, let’ see how it work out, and who is the really stupid one.
(Click to view the full chart)
And here is Sell signal for USDCAD
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