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Showing posts with label fx. Show all posts
Showing posts with label fx. Show all posts
Tuesday, June 1, 2010
Saturday, April 18, 2009
USD/JPY 18/04/2009
UJ has completed the 5 waves, the correctives have begun. We may see a top at wave b followed by a down wave c.
Friday, April 10, 2009
USD/JPY 10/04/2009
We have higher highs and higher lows on UJ. Currently wave 5 seems to be unfolding which should give us more upside before the corrective waves begin.
Saturday, April 4, 2009
USD/JPY 04/04/2009
UJ is up 191 pips since the last update. I am holding onto the longs. We also see inverse head and shoulder pattern unfolding.
Tuesday, March 31, 2009
USD/JPY 31/03/2009
UJ has descending broadening formation with a partial decline around 96. It has broken out above 98. It may continue moving upwards in the near term.
Thursday, March 19, 2009
USD/CHF 19/03/2009
USD/CHF broke out of the broadening channel, I have entered a short trade with a trailing stop running.
Monday, March 16, 2009
USD/JPY 16/03/2009
We have a rising wedge formation unfolding on UJ on hourly. Prices might bounce of the trendline below and test the trendline above. I will stop the longs if the price breaches the 200MA.
Sunday, March 15, 2009
GBP/JPY 15/03/2009
GJ has been trading in a tight range on 5 mins chart. Nice triangle formation too. We may see a break-out of the triangle as we near the apex.
Friday, February 27, 2009
USD/JPY 27/02/2009
UJ broke down from the rising wedge as per my previous post. Today the price may continue to go down.
Thursday, February 26, 2009
USD/JPY 26/02/2009
UJ has broken above the base as mentioned in my previous post and now moving towards the resistance on hourly chart. In the process it has also created rising wedge as showed in the chart. There is a possibility that it would trigger a bearish trend. I would take profit and remain sideline for now.
USD/JPY 25/02/2009
UJ has formed a base on the hourly chart. If it manages to break through the upper line of the blue channel, we can see more upside. However, it will turn bearish if it break below the lower line of the blue channel. For now, I have placed buy stops above the upper line to long for the short term.
Tuesday, February 24, 2009
USD/JPY 24/02/2009 - 3
UJ had a good run so far. It is now approaching resistance. I have closed my long positions for now. It doesnt mean it will not run up further. However, it may consolidate in the green channel for now. If it breaks the lower trend line of the channel, it may turn bearish again.
Friday, February 20, 2009
USD/JPY 20/02/2009
UJ is current trading in uptrend channel (green). Resistance is around 94.64 which was a recent peak in Jan 09. Likely scenario is it will retrace from the peak forming a double top. If it manages to break out of the channel above 94.64, we can consider taking long positions.
However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).
However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).
Thursday, February 19, 2009
USD/JPY 19/02/2009
UJ has broken out of the short-term down trend channel. Currently a potential flag formation is unfolding on 4H. If it manages to break through the neck line with good volume we may see a long up bar targetting above 94. Stop loss should be below the recent low.
Wednesday, February 18, 2009
USD/JPY 18/02/2009
UJ has tested the red down trend line and retraced. I still dont have a clear short signal yet.
However, I have entered a couple of short trades just near the resistance line with stop loss just above it. Will add to the position if the shorts are triggered. Looks like the purple channel is still being played.
However, I have entered a couple of short trades just near the resistance line with stop loss just above it. Will add to the position if the shorts are triggered. Looks like the purple channel is still being played.
Monday, February 16, 2009
USD/JPY 16/02/2009
I have attached the UJ weekly chart. We see the price testing a long term down trend line (Red). There is going to be a strong resistance and breaking the resistance could be unlikely. Although there is no clear signal to short yet, I like to go into a trade when there is enough momentum. For now, I will remain sideline to see how the prices move.
Friday, February 13, 2009
USD/JPY 13/02/2009 - 2
As per my earlier post UJ did enter the purple channel. I have closed the long on UJ just before it hit the resistance. Good week overall.
USD/JPY 13/02/2009
UJ has moved back up from the support level at 89.74. Currently testing the resistance at purple uptrend channel. I had a couple of long trades running, I have taken profit on one and will let the other trade run. If the price manages to break into the purple channel it may test resistance at 91.90.
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