Monday, 27 June 2011

AUD/JPY

A channel trading and a falling wedge. I'm preparing for a strategic long position there.





Sunday, 26 June 2011

Forex bloggers

Check a look at this site named Forex bloggers. It's a growing community of people with similar interests! Really awsome! We can learn a lot together! Sharing is caring :-)


Trading simulation

Hi guys,

I've found one really awesome tool for trading simulation in MT4. It's free and you can downloaded it by clicking on the link (and then choose slower download). There's installation files along with the manual of how to use it.

Wish you many hours of successful back testing :-)

Saturday, 25 June 2011

Market overview

Hi friends,

long time no see:-)

I wasn't around so much as my previous month has been really intensive at work and haven't let me much time for this. Hopefully I'll manage to put those two together :-).

My biggest earnings I've made through long term chart analysis and trading that, and I've decided to give it more time then swing trading style where I've spent lot of time without effort and really was too much sucked into this that as it is time consuming, and a bit of an addiction :-)

I've prepared you my longer term chart analysis, don't like current market conditions, to be honest. Don't see much opportunities, EUR/USD is sitting on long term trend, but the angle of that trend is keeping me away somehow. Same thing with AUD/USD. With respective excessive trend phase, they're both showing divergences.

EUR/JPY is in some sort of support area, so long trades are possible from there.

GBP/CAD touched weekly channel line and made a really nice rejection out of it. Think there is space there, especially CAD is showing weakness on all battle fields.

AUD/JPY I'm waiting around 82 level where I'm going to buy. This is the pair with the highest rollover effect, it's bringing you just above 1 pip / day of positive interest, so can be nice carry trade as well.

Best regards and good trading to you all my friends!






Market overview - addition









I'm going to provide you with some more chart analysis. Don't see much opportunities there, but will post them for history purposes.


Tuesday, 7 June 2011

Monday, 6 June 2011

AUD/USD trade on the short side


Hi my faithful readers :-)

I've been away from the markets a bit, really got sick / tired of charts. I'm back now, will try to make a difference this time.

I'm using my ichimoku strategy, it's slow, but it can be profitable. At the moment, it's all mixed up, and there is no clear pair to trade according to the strategy rules, maybe they're too strict.

Nevertheless, as you know I'm always trying something new and exploiting price action trading, I've decided to take this AUD/USD short position.

From the weekly chart you can really see overextension of the market, with 4th upward trend line, very steep and the last week candle, which shows a bit of market indecisiveness.

From the MACD point of view, it's clearly a bearish divergence at sight.

I've put a stop @ 1,0805 above recent week's high and profit target open.

If you take a look at the 4h chart, you can also see some bearish divergence on the MACD, and market unable to break above those previous highs - just touching them and obviously clear out the sellers stop orders.

That's it from me now! Take care!