Friday, June 27, 2008

End of The Week

The bullish has been setup. Correction will be a good formation for the next week so i prepare to go short.

Have a Nice Weekend


Important Resistance

Important resistance are in 1.9935 and the second one is in the 1.9965 area.

The Bull Has Arrive

The Bull has arrive lets welcome him. Looks like the Oil whose unlock the bulls cage padlock. Oil was hit $140 yesterday so it smack down the Dollar to new lows againt majors.
On the Weekly time frame we can see double bottom confirming the bullish, each bottom has their own double bottom. The four bottom sat on their chair too long so they need to get up and take a walk for a while.
The room still have space for another 50-80 pips up so im gonna take a long today.

Todays strategy

-go long using LMA34 and LMA1 cross without stoploss if they create another cross then close the order and open a new one if they create another cross again then close the second order and open the third order to go long. take some 30-50 pips profit or just floating the order till 1.9965 area and close the order there. the second resistance is in 2.0012 area. just wait for a clear cross to enter, just after they crossed open the order right at the new candle. this strategy are for M 15 time frame.

all we can do in forex market is anticipate

happy trade :-)

Double Bottom on Each Bottom


Thursday, June 26, 2008

dont know exactly

I really dont know exactly why cable always come back and closed in 1.9800 area on the last 5 month and every body know he comes back again this month, is this because of the election?I hope someone can give me info. I think if he closed above 1.9800 in the end of  month it would open the bull cage. Still 1.9800 be a good resistance. As long as he didnt break that level i will search for a good place to shorting cable. I still use EMA 34 at 1 H TF to take the short. Resistance at 1.9780 and 1.9820. Any short would face resistance at 1.9650-1.9640 area.

Need some knowledge to use EMA 34, if any one need explanation please ask.

Wednesday, June 25, 2008

more careful

should be more careful to trade on this week. first target was hit yesterday tho it wasnt a big one.
looks like the waves has been complete now it should go down technically but i saw some bad numbers on the US data comes later. i suggest not to take a trade today, just wait and see.
i need to mention that there is a good shape on D1 time frame, is it gonna go higher or create an M? i guess 1.9800 is the key.

if u have itchy trigger fingers, this strategy below can be a consideration
-take a short using MA34 at 1H time frame place 1.9703 as stoploss and 1.9600 as the target
-any upward should have some resistance at 1.9750-1.9780 area if these are holds then take a short at 1.9700 place 1.9753 as the stop, 1.9650 as first target or u can just floating it to 1.9550 area just after he down to 1.9650 area.
-wait for a clear cross.

have a nice trade


Complete Elliot

Tuesday, June 24, 2008

Elliot Wave

looks like cable start to form another wave up, more risky today to take a trade. our achievement to collect 100 pips a week already completed yesterday. the next trades is bonus, if u have more courage then take a trade today but its better step away.

today strategy :
-go long using EMA34 and EMA 1 crossing on 1 hour time frame, wait for a clear cross to enter. maybe less than 20 minutes from now to cross over, take 1.9700 as the first target and 1.9730 as the second target. take 1.9625 as stoploss or if they create another cross then close the order and open a new one, a short one.

-if the EMA34 and EMA1 doesnt cross then take a short using EMA20 and EMA1 crossing, close the short if they create another crossing up. wait for a clear cross and dont take profit too much.

-trade only in or after 8 am Europe Time Zone

Monday, June 23, 2008

energy effieciency

today i experience another direct effect of the energy crisis. our state electricity enterprise have some policy related in this issue, they periodically shutdown electric supply in some area in rotasion and today is our turn to be shuted down. its about 6 hour we live in prehistory age once again.

enough for the chat and back to the business. as we expected cable go down today and our last strategy on last Friday was hit today which is short at 1.9700 and take 50-100 pips profit. no pictures today and see you tomorrow.

have a nice day