UJ, GJ

I got stopped out at my preset stop levels on both U/J and G/J as both reversed after the false breakout.
Initially GBP/JPY was progressing well downside, I could have taken profits but my strategy is to trade on a longer term (1-5 days) and to remain in the trade need to forego small profits sometimes.
Charts coming up.

USD/JPY 30/01/2009

Got a short trigger for USD/JPY. I have entered a short position at 89.30.
GBP/JPY is moving well as expected so far. Will post charts later tonight.

GBP/JPY 30/01/2009

I have entered a short position on GBP/JPY at 127.82. Will post chart later.

STI 30/01/2009

Expected range for today.

Counter	Expected Range	If broken upside	If broken downside
Capland	2.37 - 2.48	2.51	2.31
Kepcorp	4.03 - 4.12	4.19	3.97
SGX	4.93 - 5.11	5.2	4.84
SIA Eng	1.97 - 2.05
Singtel	2.72 - 2.79		2.64
Wilmar	2.87 - 2.91	3.06	2.73
Yanlord	0.84 - 0.895	0.915
Hyflux	1.75 - 1.81	1.91
STI	1745 - 1698	1770

My personal view.

STI 29/01/2009

I am expecting the following range on STI and some counters today.
I have listed the counters,
the range I am expecting,
if the range is broken upwards then the resistance is displayed in this column,
if the range is broken downwards then the support is displayed in this column.

Counter	Expected Range	If broken upside	If broken downside
Capland	2.43 ~ 2.58	2.85	2.35
Kepcorp	4.17 ~ 4.26	4.34	4.12
SGX	5.27~ 5.15	5.37	5.06, 4.91
SIA Eng	2.05 ~ 2.01	2.06	1.98
Singtel	2.67 ~ 2.56	2.71	2.5
Wilmar	2.83 ~ 2.71	2.86	2.63
Yanlord	0.94 ~ 0.89	0.975	0.845
Hyflux	1.80 ~ 1.75	1.9	1.64
STI	1789 ~ 1746	1841	1727

These are just support and resistance guidelines from the trend lines. If you are following this, please trade with caution as I could be wrong too.

USD/JPY 29/01/2009

I entered UJ for a quick trade when the price broke out of the triangle (Red). I entered at 89.73. After that it has hit the purple channel which acted as resistance and retraced back. I will close the trade now. We can always enter again on retracement. For now, I am protecting my profits.

I am closely monitoring GBP/JPY too. I think we might have a nice shorting opportunity soon.

DJ & S&P 500 28/01/2009

Dow Jones
Dow Jones trading range could be between 8263 ~ 8093.
If the range is broken upwards resistance could be at 8309.
If the range is broken downwards, support could be at 8014.

S&P 500
S&P trading range could be between 856 ~ 839.
If the range is broken upwards resistance could be at 864.
If the range is broken downwards, support could be at 823.

USD/JPY 28/01/2009 - 2

We are looking are looking at sideways movement. Price is expected to stay between the purple channel but the movement is slow. Trading is always difficult in such situation. I plan to stay out for now. Afterall not trading is also a strategy.

USD/JPY 28/01/2009

USD/JPY 28/01/2009

As expected, UJ tested the resistance around 90 (upper green channel line). I have taken profit around the eclipse area. From there it has retraced, tested the blue channel and resumed upside. Major trend still remains to be down. However, the short has not been triggered yet. We will monitor the movement and see how it progresses for possible trades.

USD/JPY 27/01/2009

UJ has tested the downtrend (upper blue) line a few times before breaking it. We may see UJ bounce off the upper green line which might act as support. Also need to watch out if it breaks the blue line again. I am on a short long trade now.
I will short when/if it tests the green upper channel.

Happy Chinese New Year!

Heres wishing all my friends a Happy and Prosperous Chinese New Year!
May you have a healthy and profitable new year.

Neat-Trade

USD/JPY

UJ is moving as per the expectations. It has broken out of the triangle and tested the downtrend line (upper blue line). If it manages to break through the blue channel it may halt near the upper green downtrend line which will be somewhere in the 90's. But the major trend remains to be downwards. We will keep watching and see how it progresses. Minor trades here and there are possible but no entry yet for the longer term trade. Any comments?

USD/JPY

View on USD/JPY (UJ) as of Jan 23.

Nice triangle formation on UJ. As expected it might retrace a bit before resuming downwards. It needs to break the triangle first.

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