EURUSD Daily Bears Movement ?

Seems like there is a downtrend forming on the EUR USD daily charts. Entered sell order at 1.3667 and this could turn out to be a long hold for this week. Price is still unable to break through 1.3655.  First day of the week is usually quiet, hopefully, the bears will come out to feast when the time is ripe! raWr!

Peace out and may the pips be with all this week.

Update: Was up 30 pips before it went back to the same price I sold. Grrrhmph!

Update 2: Close my shorts at 1.3587 for 55 pips. My sentiment is still short.

Week in Review Episode 1

Here's some updates on my current trading for the week.

Straits Times Index

I have added 25 lots of Charisma Energy @ $0.073 (last close S0.07).

All my counters are in the red except M1. Seems like a good time to add Keppel Corp but i am still contemplating due to the cash that I need to fork out.

Forex

As I currently only sleep with the EUR/USD (lol), i had 6 trades on the pair this week resulting in 42 pips profit. This equates to about 11.68% profit for this week! A very bad mistake that I made was leaving the stop loss too close to where i bought the EUR which resulted in myself missing the train spike north. Bad call!

Hopefully, next week will be even better!

Happy Chinese New Year

Heres wishing everyone a Happy Chinese New Year and a good trading year ahead.

On a sidenote, I have closed my short EURUSD for 50 pips profit and may start reloading longs again.

Cheers

Forex & SGX Updates

I have decided to close my long EURUSD for a profit of 2 pips at 1.3672 and now the pair is trading at 1.3650/60x area. Kind of pathetic but we just can't force the market to move if it ain't moving. Now let's see what Obama will be speaking on later. Will add longs later when the pair retrace.

The GBPUSD pair is looking good for a down trend but I am still watching it.

Some updates on the SGX. Added 25 lots of Charisma Energy today at $0.073. Market closes at $0.07. In fact I was actually queuing for this counter at $0.07 yesterday but it expired. I believe there is a potential for this stock to move higher.

Gona play some poker now on my ipad.

Peace out!

Long EUR USD

Just opened a long on the EURUSD at 1.3671.  I have my support at 1.362x which is also my stop loss. Hoping to look for a clean move north somewhere on Wednesday or Thursday above the 1.38x area.

Chinese New Year is coming and so is the Euro angpow hahaha. No choice as I need to give red packet too.

Trade with care everyone!

Euro Update

Closed my long EuroUsd far too early today at 1.36 for 45 pips gain. Gosh the price went up to 1.3645. The Euro looks to be trending north but I have open a Short (with a tight SL) for the correction to 1.36x area before adding longs.

Cheers.

EU rallies for 150+ pips after U.S GDP data

The Euro bulls has once again pushed ahead of the USD after very bad GDP data of 1.3%, way below the initial forecast of 1.9%. Luckily I was home on time and able to catch up on the news 5 minutes prior to release and enter right after the data was out at 1.4356. It was a pity I lock my profits after 120 pips while disgustingly watching the euro climb past the 1.44 mark before heading back to the 1.4380/90 area. Some scalping of shorts and longs made my total pip collection tonight standing at +147. What a great day and will be looking forward to next week.

[Trading The News] U.S GDP Advance GDP q\q on 29/07/2011

The U.S Advance GDP q\q data is one of the most important piece of data as it has a signficant impact on the forex market and how the market will move with it. The forecast for the GDP is as follows :

U.S Advance GDP q\q
Forecast : 1.9%
Previous : 3.9%

I will be looking at a deviation of > 0.4% before my trade would be entered. Therefore, if we get a figure of 1.5% and below, we will be looking to buy EUR/USD with a TP of more than 100 pips (your choice here). If the numbers looks good, > 2.3 , a SELL option would be your only choice. However, we would be looking into other pairs for sell options (GBP,JPY) rather than the Euro for the best bang for pips.

EUR/USD ANALYSIS

EURUSD has touched Lower Band and reopened with a green signal at M30 with the same confirmation on the H1 charts. ADX readings > 20 with a upslope have confirmed my position for a LONG at 1.3444 and TP @ 20 pips Using the 1 : 1 ratio, my stop loss has been set at the area of 1.3420 which is a few pips away from today's low.