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.

Free Forex Ebooks Webbie of the Week

Before I sign off to enjoy the weekend, here's a free site which I chanced upon providing free lessons / etutorials to the new or seasoned trader. Not sure how legit it is, but it seems clear to access.

http://www.earnforex.com/forex-e-books/

Enjoy!!

Are FX Books really worth buying?

It depends. There are zillion of stuffs on the internet that teaches and refines Forex trading. Take a look at babypips or any other popular websites and chances are you are probably gona get great tips and charting tutorials for the absolute newbie. However, I have only bought a fx book once and most of the information in the book are probably found online too except for the author's reading of charts may differ from each other.

One sample is :

http://forexpdf.info/2011/01/what-is-foreign-exchange-market-who-are-its-participants-what-are-its-functions-pdf-forex/

Mirror Mirror on the Wall - EURUSD H&S

Saw something on the H4 chart that somewhats look like a mirror image of the PA / CS but this time on the sell side at 1.4323. Will be holding on to the shorts with tight SL at this point till the Employment and ISM Non-Manufacturing data are out which might prove my sentiments wrong. Till then.