Friday, August 15, 2008

Finish Line

Still dont know where the finish line at, weekly range is almost the same with last week range above 600 points but still have some target according to Fibo Expansion to 1.8480 area. The only clue i have is Stochastic that shows a down trend. Todays strategy is take some pips according to this stochs for today and watch for a reversal.

Have a Nice Trades

Forex Knight

No Clues


Thursday, August 14, 2008


What can I say. 1221 points range? it's the biggest monthly range since 1992, 1.5 decade, a 15 years?! WOW. This is not usual range, could changing somebody's trading system.
The Greenback surge sterling too deep in the heart in a short time. Recover will be hard from this level. 2.0000?? maybe take months or years.
61% Fibo has been reached-some of Fibo expansion levels has been touched-over the multy month years-but its not easy to see the bull right now. Sideways are my bias.
There are some target area still remains arround 1.8480 but some tools indicate oversold, just becareful to take some short.
Thats all folks.

Happy Trending,

Forex Knight

No Bias

Wednesday, August 13, 2008

Eyed 1.8800

Cable break the 50% Fibo and the Trendline on W1 and i guess he is heading to 1.8800 area now.
Correction above 1.9050 is possible. Go long is my favorite today.

Happy Trending,

Forex Knight

1.9050 is possible

Tuesday, August 12, 2008

The Trend is Down So Far

Breaking the 1.9000 will cause a serious problem to the sterling, pending order sell at 1.9000 looks nice with 30 pips SL. Otherwise if the 1.9050-1.9000 support area are guarded well, we should look for a long. Use Stoch533 on M15 TF to go long only if the support level are holds. So far the trend is down.

Happy Trending,


down down down

Monday, August 11, 2008

Bringing Back The Good Shape (Bear Vs Bull)

Long rally and entering pitstop 2 times only result a long full candle at W1 TF and cause sloppy W1 wave so i guess he need to bringing back W1 wave in a good shape before he continue rallying down.
The 100% Fibo Expansion already reached, thouched the 50% Fibo Retracement this morning and also the trendline  so cable have enough reason to bounce back to 1.9500 area. But...he also have one full sticky W1 bear candle that indicate strong down trend and usually proceed with another bear candle.
This is so called BearVsBull.
Cable have some supports need to guard to realease the bull, they are in 1.9100-1.9000 area. The first one is 1.9050 and the strongest one is 1.9000. The last one is the key to unlock the bear padlock gate. If he break the 1.9000 support, he have big possibility to create another W1 bear candle.
The strategy is looking for some nice place to go long this week only if the supports are well guarded.

Thats all Folks. Wish you all have nice trades this week.

Happy Trending,

Forex Knight

This Week Bias