Forex Clique

Once again a NO trade for me this week.

My current closed P/L still stands at 1348 PIPS.

Anyway for those who are following the blog closely, take special note of the weekly summary, I will try to advise on possible entry point where you could possibly take your trade. I might not be like before, telling you the exact entry point but I will be mentioning the possible entry areas.

Please be assured that once I have settled down on my new work, I will once again be providing exact entry points to you. I am really busy with my new work (own business, that is why I am putting in alot extras), as such that I do not really have the time to trade and look at charts and that is why I am really losing some good opportunities.

Let me now try to review and project for the coming week.

EURUSD
The Euro has been on a steady bull run since early September 2010. The rate of the latest Euro rally has been ultra impressive. Interesting point to note is that the currency has been moving higher daily with a daily close that is always above the previous daily low. There has been 18 consecutive days for which the daily close is above the previous daily low since 12 Sep 2010.

I am looking to a daily close below the previous daily low to have a possible indication of a Euro reversal so that we can enter on a short trade.

A key level to note now will be 1.3628. With a daily close on Monday below the 1.3628, might starts the Euro reversal. The stochastic indicator has shown that the Euro is the region of an over-bought. So, look out closely in the coming week of a possible Euro reversal.

My overall fundamental outlook of the Euro is still bearish and therfore I am still looking to short the pair.

Happy trading….

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

The GBPUSD has been spend the week consolidating between 1.5894 and 1.5718 and the horizontal support at 1.5850. I am looking forward for a bearish reversal for the GBPUSD.

A break below 1.5760 might give the confirmation of a bearish reversal and would create an opportunity for me to short the pair as my long term fundamental outlook for the pair is still bearish.

Let me remain on the sideline at the moment until I have a better/more attractive selling opportunity. I will look to sell if the price is able to break below 1.5760 or better still with candlestick confirmation.

Happy trading….

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

No trade for me this week.

My current closed P/L still stands at 1348 PIPS.

Anyway for those who are following the blog closely, take special note of the weekly summary, I will try to advise on possible entry point where you could possibly take your trade. I might not be like before, telling you the exact entry point but I will be mentioning the possible entry areas.

Please be assured that once I have settled down on my new work, I will once again be providing exact entry points to you.

Let me now try to review and project for the coming week.

EURUSD
Still trying to establish a second point of contact for the orange down trend line, which happen to be my long term bearish line for the EURUSD.

EURUSD has so far not found any resistance as yet in its move towards the north.

I am standing on the sideway for the moment of time until I can see a clear direction of move for the pair.

To conclude, my long term outlook is still bearish, while also have a short to mid term bullish outlook.

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

A Highly Visual Guide To Developing A Personal Forex Trading Strategy Getting Started In Forex Trading Strategies “A great next step to read for the beginning trader. It contains practical advice and resources on trading FOREX that only come with experience.” -Derek Ching, President, Hawaii Forex “We have members from over 125 countries on our Web site and plan to make Getting Started in ForexTrading Strategies a ‘must read’ for those looking to trade the FOREX marke (more…)

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

Still very busy with my new work and as such I really do not have much TIME to look at the FOREX charts. So, what is my new work? Make A guess if you like to…..

Anyway managed to spot a simple trade setup within the EURUSD and I managed to grab 360 PIPS from the trade.

My current closed P/L stands at 1348 PIPS.

Anyway for those who are following the blog closely, take special note of the weekly summary, I will try to advise on possible entry point where you could possibly take your trade. I might not be like before, telling you the exact entry point but I will be mentioning the possible entry areas.

Please be assured that once I have settled down on my new work, I will once again be providing exact entry points to you.

Let me now try to review and project for the coming week.

EURUSD
Look nice to short this pair. I am waiting and waiting. My long term outlook for this pair remains bearish and I am always looking for opportunity to short (please take note).

The EURUSD tested and broke the 1.3000 support turn resistance line, but while trying to push its way up to the top, the pair seems to have exhaust itself at its long term down trend resistance line.

A bearish shooting star candlestick pattern was formed after Friday’s trading session. Stochastic has also shown the the pair is in an overbought region and therefore I would most likely looked to short the pair at around the 1.2990 area, depending on the gapping that will be created when trading resume on Sunday 2100 GMT. Always remember, DO NOT TRADE ON SUNDAY!

Take-profit and stop-loss to be advised later.

USDJPY
Stand on the sideway for the current moment. I am still uncertain the direction of this pair after the so called intervention by the Japanese government.

So NO TRADE for me for the USDJPY.

Happy trading and ULTRA nice weekend…..

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

Many traders go around searching for that one perfect trading strategy that works all the time in the global FOREX (foreign exchange/currency) market. Frequently, they will complain that a strategy doesn’t work. Few people understand that successful trading of the FOREX market entails the application of the right strategy for the right market condition. 7 Winning Strategies For Trading Forex covers: – Why people should be paying attention to the FOREX market, which is the world’ (more…)

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

I am still maintaining my long term fundamental outlook of the EURUSD as bearish, with a short to mid term bullish outlook. Basically, my trending direction for the EURUSD will be to short (in line with my long term fundamental outlook) with some occasional long trades.

The EURUSD break but fail to close above the 1.3000 support turn resistance line. Also, present is the long term down trend resistance line. I am looking to short the EURUSD pair at the present senorio, of course with proper candlestick pattern as confirmation for entry.

Happy trading….

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

My second EURUSD long trade closed at take-profit and netted me another 230 PIPS profit for the week.

Was quite lucky to be in the trade as I was quite busy with other business that I really do not have time to check and review my charts. Happen to spot the trade setup on early Monday morning at about 0630 S’pore Time.

Setup my pending orders and the trade just triggeed and the price move in my predicted direction.

I will try to review on the EURUSD, USDJPY pair for any coming trade opportunity later in late afternoon.

Happy trading….

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

Our first trade close at take-profit and net us a profit of 130 PIPS. The second trade is still active at current. I am looking for it to move towards 1.3000.

Happy trading….

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email

I entered long for EURUSD on the break of 1.2770 (although in my weekly summary, I mentioned to enter at 1.2760). I have 2×0.1lots with take-profit at 1.2900 and 1.3000. Stop-loss is placed at 1.2640.

The trade was triggered on 13 Sep 2010, 0000 GMT or 0800 S’pore Time.

I have moved the stop-loss to breakeven (BE) this morning.

Happ trading….

• Delicious
• Digg
• Facebook
• Google Buzz
• Yahoo Buzz
• Linkedin
• MySpace
• Stumblers
• Tumblr
• Twitter
• Subscribe to the comment
• Email