Showing posts with label eurusd. Show all posts
Showing posts with label eurusd. Show all posts
Tuesday, December 2, 2008
CRAPPY CONNECTION. RANGING PERIOD
Sorry for the long period of no update on this blog. It seems that internet connection is really bad. At the office I am using Streamyx. Connection is crappy as usual. At home I am using Celcom 3G. Its better but its slow. Maybe my home is not well covered by the 3G network.
As for forex, EurUsd, GbpUsd, AudUsd, EurJpy and GbpJpy is heading up now but not to worry, there is still time. On the long term only EurUsd looks good for a long trade. I am currently holding long EurUsd @ 1.2640 with a stop loss of 50 pip. This is a long term trade, hopefully the move upwards will take a long time and lots of pips on the way.
As for the other pairs, it is heading up but its not an uptrend yet. They will be entering the ranging period now. So there will be plenty of chances for entry. If all these pairs maintained their direction we will see a change in trend in the longer term trades.
I will list key levels for guidelines. These key levels are good for both sell and buy position. Treat them as guidelines for entry in either direction.
EurUsd : 1.2670
GbpUsd : 1.5050
AudUsd : 1.6450
EurJpy : 119.20
GbpJpy : 141.50
These key levels are always changing. Since most of these pairs are entering the ranging zone so you can use these key level for this whole week. As for me I will be looking for a long trade from these levels that is if the current direction stays.
Good things are simple things. If you have a system, make sure it is simple. With simple indication you can make clear decision.
Read More...
As for forex, EurUsd, GbpUsd, AudUsd, EurJpy and GbpJpy is heading up now but not to worry, there is still time. On the long term only EurUsd looks good for a long trade. I am currently holding long EurUsd @ 1.2640 with a stop loss of 50 pip. This is a long term trade, hopefully the move upwards will take a long time and lots of pips on the way.
As for the other pairs, it is heading up but its not an uptrend yet. They will be entering the ranging period now. So there will be plenty of chances for entry. If all these pairs maintained their direction we will see a change in trend in the longer term trades.
I will list key levels for guidelines. These key levels are good for both sell and buy position. Treat them as guidelines for entry in either direction.
EurUsd : 1.2670
GbpUsd : 1.5050
AudUsd : 1.6450
EurJpy : 119.20
GbpJpy : 141.50
These key levels are always changing. Since most of these pairs are entering the ranging zone so you can use these key level for this whole week. As for me I will be looking for a long trade from these levels that is if the current direction stays.
Good things are simple things. If you have a system, make sure it is simple. With simple indication you can make clear decision.
Thursday, October 16, 2008
THE 3 PLANETS INLINE. EXPLAINED
Most of people trading Forex that I know will trade based on pairs. They will trade EU, UCAD, UCHF etc. They trade based on individual strength of pair. Lets look at it from another direction.
When we trade EURUSD, we are actually comparing the strength of EUR and USD. Which ever is stronger we will be buying it in order to be profitable and vice versa. It is true that pair such as EURUSD will move based on fundamental and technical factor. What if we compare USD to 3 other currencies such as EUR, GBP and AUD. If you look at the chart closely you will see that sometimes these 3 pairs break the trend at once. Meaning they are syncronize.
The way I see it, if all 3 currencies of EUR, GBP and AUD becoming stronger compared to JPY at once. This is a sign of true weakness of the JPY and a huge move is going to happen. These moves can be seen once or twice a week only but it will give a huge return.
Let illustrate this for better understanding. This is just a simple example using MA. I am sure you can do better with more advance indicator. Below is chart of 3 pairs. GBPJPY, EURJPY and AUDJPY. At the yellow line, we have MA cross at the same time. See what happens afterwards. Basically this is the idea, I am using RSI to filter the noise and trade those 3 inline moves. Thats how I make money last night. I used MA, RSI and Heiken Ashi.
I would like to know what do you think of this system. Its a system because I am trading it again and again with success. Let me know what you think and your idea in order to filter it.
Read More...
When we trade EURUSD, we are actually comparing the strength of EUR and USD. Which ever is stronger we will be buying it in order to be profitable and vice versa. It is true that pair such as EURUSD will move based on fundamental and technical factor. What if we compare USD to 3 other currencies such as EUR, GBP and AUD. If you look at the chart closely you will see that sometimes these 3 pairs break the trend at once. Meaning they are syncronize.
The way I see it, if all 3 currencies of EUR, GBP and AUD becoming stronger compared to JPY at once. This is a sign of true weakness of the JPY and a huge move is going to happen. These moves can be seen once or twice a week only but it will give a huge return.
Let illustrate this for better understanding. This is just a simple example using MA. I am sure you can do better with more advance indicator. Below is chart of 3 pairs. GBPJPY, EURJPY and AUDJPY. At the yellow line, we have MA cross at the same time. See what happens afterwards. Basically this is the idea, I am using RSI to filter the noise and trade those 3 inline moves. Thats how I make money last night. I used MA, RSI and Heiken Ashi.
I would like to know what do you think of this system. Its a system because I am trading it again and again with success. Let me know what you think and your idea in order to filter it.
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