USD/JPY on the watch

USD/JPY Hourly

EUR/USD on the watch, Possible Counter-Trend

EUR/USD Hourly

UPDATE
No Setup, No Trade.....

EUR/USD Hourly

A False Break and AO divergence on GBP/USD

GBP/USD Hourly

Sell at 1.5708, Stop Loss at 1.5738 (-30 pips risk), Closed at 1.5668 for 40 pips profit...

GBP/USD Trade (20 Jan 2012)

GBP/USD Hourly

First trade, Sell at 1.5490, Closed 2/3 of my position at 1.3455 for 35 pips profit and the rest got stopped out at 1.5504, -14 pips loss

2nd trade, Sell at 1.5518, Got stop out at 1.5540, -22 pips loss then a bearish divergent bar again, 3rd trade, sell at 1.5523, got stop out at 1.5543, -20 pips loss. This two trade use smaller lots, because it's an early attempt, you don't want to go all in with this one and also if we zoom out to 15 min chart, the AO was still goin strong..

GBP/USD 15 min

Bullish Divergent Bar at Fibo level on GBP/USD Hourly

GBP/USD Hourly

Buy at 1.5310 with a 30 pips stop loss at 1.5380, Already closed 2/3 of my position at 1.5350 for 40 pips profit.

Take a closer look at how price react near the support level which converge with the 50 fibo level..

Wiseman 1 Trade on AUD/USD Hourly

AUD/USD Hourly

This is my favourite pattern, we have AO divergence, a bearish divergent bar (bdb) at resistance and if you put the alligator, we have a nice angulation, but i rarely look at this. I prefer support/resistance.

Sell at 1.0360, Stop loss would be just one tick above the bdb high 1.0381, only 21 pips risk (tight stop)

Closed half of my position at 1.0330 for a 30 pips profit and closed the remaining at 1.0300, a 60 pips profit..

All you need is AO divergence.. :)

Daily Trading Review (11 Jan 2012)

GBP/USD Fractal Breakout

GBP/USD Hourly

Let's look at this, look how price tried to move higher but got rejected at fibo level and natural resistance 1.5500 figure. It's in downtrend, so the up move is just a correction, then it finally break the trend line (I think this is a bear flag pattern, but dun know, dun really care bout the name, what we want to understand is the price movement itself).

When it breaks the trend line, I dun jump in straight away and I might miss a trade but personally I like further confirmation that it's a valid break. Start looking for a SELL opportunity.. There's a fractal breakout, a bdb and sell near resistance (the trend line, support become resistance)..

I put sell limit near resistance but it didn't go there, only 2 pips away T_T

Then it continues down, break fractal sell at 1.5446, closed at 1.5376 (near support level) for 70 pips profit..

For today there's a tight pattern, let's wait wat happen at london open

EUR/USD BDB at support level daily low

EUR/USD Hourly

Buy at 1.2690, Closed at 1.2720 for a 30 pips profit.

A first attempt to move higher, normally it will retrace back to retest the support level and I'm waiting for that..

If we look at the 15 min chart, there's AO divergence, build up my confidence level to enter the trade..

EUR/USD 15 min

Daily Trading Review (09 jan 2012)

GBP/USD False Break Trade

GBP/USD Hourly

Sell at 1.5428, Hit my stop loss at 1.5451 for -23 pips loss...

Hmm.. let see, notice the ascending triangle pattern instead a usual tight flat pattern and also the AO divergence. things that should be taken in consideration for future trade.. Ok noted..

Wiseman 1 Trade on GBP/USD

GBP/USD Hourly

My first trade of the year 2012, price tried to move up but failed and form a bearish divergent bar (false break)

Sell at 1.5497, Closed half of my position near support (1st target) at 1.5467 for a 30 pips profit

Price didn't go to my 2nd target (daily support level), so i just closed the remaining at bdb high, 1.5414 for 83 pips profit..

Not bad for a start...