GBP/USD
It has been a very bullish week and month for GBP/USD.
It closed at 1.5683 on 30 July (Friday), High 1.5718.
My view on this pair is to look for short at 1.5700 region next week.
Zoom into 30 Minutes chart we can see many antenna and pincers...
Shows that it is currently resisted at 1.5720.
First target 1.5450 region.
However, if it break above 1.5770, next target will be 1.6050.
Saturday, July 31, 2010
难过的是……
难过的是，不知道——自己做的事情，是为什么而做。
难过的是，明明知道——自己在做什么，却刻意忘记。
难过的是，明明知道——自己在做什么，却因为别人一句话，
怀疑自己，伤害了自己的信心，连自己都不能相信。
难过的是，明明世界上，已经没有什么人值得相信——更甚的是，我连自己都不相信了。
已经过了一个星期。
任何发生过的事情，已经发生了。
应该伤心的事情，我都好好地去享受伤心的滋味了。
现在，我要迎回力量，要告诉自己，无论身边的人，多么不相信我，我一定要，相信自己。
相信自己，为什么挣扎，为什么努力，因为，我相信，我能够。
我只需要再跨过这片围栏，就可以到另外一边。
就可以不同。
难过的是，明明知道——自己在做什么，却刻意忘记。
难过的是，明明知道——自己在做什么，却因为别人一句话，
怀疑自己，伤害了自己的信心，连自己都不能相信。
难过的是，明明世界上，已经没有什么人值得相信——更甚的是，我连自己都不相信了。
已经过了一个星期。
任何发生过的事情，已经发生了。
应该伤心的事情，我都好好地去享受伤心的滋味了。
现在，我要迎回力量，要告诉自己，无论身边的人，多么不相信我，我一定要，相信自己。
相信自己，为什么挣扎，为什么努力，因为，我相信，我能够。
我只需要再跨过这片围栏，就可以到另外一边。
就可以不同。
Wednesday, July 28, 2010
Think 'Both'
Acceptance and Rejection
I watched a movie this weekend on the AXN Asia Channel.
Spider-man 2.
May be I chose to read what I want, to the advantage of myself... ^_^
Brief Intro on the movie:
It's been two years since Peter Parker transformed into Spider-Man, and he is still trying to balance life perfectly. His love for Mary Jane is becoming much stronger, as he finds it hard to not let her down, his life has begun to fall apart. The girl he loves is engaged to someone else, his grades are slipping, he cannot keep any of his jobs... Peter, at times noticing he's losing some of his powers, and feeling the effects of the stress in his personal life, realizes he must decide between being who he once was or retaining his secret identity to stop Doc Ock and save New York City.
When Peter tells Uncle Ben:
"Uncle Ben, I'm Peter Parker. I am spider-man, no more."
What I read from this statement:
Peter Parker thought being spider-man means he needs to give up something in life, however, deep inside him feels the duty and power and he chose to come back, and protect the city. I persuade myself that he has got the balance at the end, by getting Mary Jane back, and also being Spider-man.
When we have total acceptance of ourself, we can accept our strength, weaknesses, we come to realize what we can do, and who we are, our duties and values. We can make a difference, we can make some change, we can make a decision which is true to ourselves, what's better for us.
When I based this values to my trading, I decide for myself which action is suitable, as I am gonna be responsible to myself, the actions that I am gonna take, which trade I am gonna take, how much of risk exposure, and the expected return in every trade, whether it justify the expectation, and the purpose.
I love the "Trader's Handbook II - Instant Mindset Tuning" specially written by Grand Sifu DAR Wong, from the guide, I start to visualize, I used to be ignorant (even now I still have sooo many things that I do not know), I am committed to think, to learn, and grow. I thank Sifu for this great book, this book has presented so much of his wisdom and experience.
For those who attended the ProMaster, do read this book again and again, I am sure, that many can gain from sifu's instant mindset tuning.
I watched a movie this weekend on the AXN Asia Channel.
Spider-man 2.
May be I chose to read what I want, to the advantage of myself... ^_^
Brief Intro on the movie:
It's been two years since Peter Parker transformed into Spider-Man, and he is still trying to balance life perfectly. His love for Mary Jane is becoming much stronger, as he finds it hard to not let her down, his life has begun to fall apart. The girl he loves is engaged to someone else, his grades are slipping, he cannot keep any of his jobs... Peter, at times noticing he's losing some of his powers, and feeling the effects of the stress in his personal life, realizes he must decide between being who he once was or retaining his secret identity to stop Doc Ock and save New York City.
When Peter tells Uncle Ben:
"Uncle Ben, I'm Peter Parker. I am spider-man, no more."
What I read from this statement:
Peter Parker thought being spider-man means he needs to give up something in life, however, deep inside him feels the duty and power and he chose to come back, and protect the city. I persuade myself that he has got the balance at the end, by getting Mary Jane back, and also being Spider-man.
When we have total acceptance of ourself, we can accept our strength, weaknesses, we come to realize what we can do, and who we are, our duties and values. We can make a difference, we can make some change, we can make a decision which is true to ourselves, what's better for us.
When I based this values to my trading, I decide for myself which action is suitable, as I am gonna be responsible to myself, the actions that I am gonna take, which trade I am gonna take, how much of risk exposure, and the expected return in every trade, whether it justify the expectation, and the purpose.
I love the "Trader's Handbook II - Instant Mindset Tuning" specially written by Grand Sifu DAR Wong, from the guide, I start to visualize, I used to be ignorant (even now I still have sooo many things that I do not know), I am committed to think, to learn, and grow. I thank Sifu for this great book, this book has presented so much of his wisdom and experience.
For those who attended the ProMaster, do read this book again and again, I am sure, that many can gain from sifu's instant mindset tuning.
Tuesday, July 27, 2010
Saturday, July 24, 2010
Weekly Forecast
Stress Test
Resources from FXStreet
7 of the 91 banks tested has failed the test, with a necessity of global EUR 3.5 billion extra capital in case of continuing crisis until end of 2011. In case of sovereign shock, the aggregate lost to the whole testing could be of EUR 67.2 billion.
The Euro has been shaken by the stress release, the EUR/USD rose quickly before reportfrom daily low at 1.2790 to test 1.2900 and get back to 1.2800 again after stress releases. Currently the pair is trading around 1.2820/40. EUR/JPY lost 110 pips after results and the EUR/GBP avoid its recovery from 0.8315, 1-week low, at 0.8360 to price back around 0.8330.
GBP/USD
Friday GBP/USD has gain +162 pips, biggest gain in a week.
From 30Mins we can see that this pair is currently resisted @ 1.5480 region.
Previous week high 1.5448.
next week, I reckon this pair to turn up before coming down.
After breaking the First Resistance 1.5480, Up potential at:
TG1: 1.5550
TG2: 1.5650
From 1.5650, I will observe for reversal sign, to short.
Existing Support 1.5350.
EUR/USD
Phew~ Had made some quick profit from the high of 1.3027 on 20/3/2010.
Before the roller coaster ride~~
EUR/USD closed the weekly candle near the week's opening price.
Trading Range for Monday: 1.2990 - 1.2740
Good to look for short around 1.2990 with 60 pips stop loss.
Down potential 1.2400 region.
USD/JPY
Apart from all the roller coaster ride, I like this pair which is quietly working on its way up.
Weekly chart, Harami candlestick reversal pattern.
overhead resistance at 87.50 now.
He is trying hard to break this level, do look into 30 minutes chart, it has been trying to break this resistance at least 3 times on friday, each time he tries, he has a higher and; higher low.
Although this pair do not have the almighty big trading range like Pound and Euro, but this pair has been working its way up, like the executives working on the corporate ladder. Breakout from 87.50 will lead to 89.00 region.
Failure to break 87.50 will test 86.50 region again.
Trading Range for USD/JPY:
86.53 - 87.86.
DJIA
Fundamental:
DJIA has crossed the previous high of 10,407 and closed at 10,424.
The bull might be fighting with his last breath so look closely for short opportunities before the fall in August!
Overhead resistance at 10,450, there are two possibilities:
1. DJIA to continue to head north in the coming week, to form the right shoulder before turning down.
Look for opportunity to short when this pair approach 10,550 - 10,600 region.
2. DJIA to form a black candle with short shadow, we will see a clear divergence in 30 Minutes chart, get ready to short for quick profits.
Trading Range: 10,150 - 10,430
Resources from FXStreet
7 of the 91 banks tested has failed the test, with a necessity of global EUR 3.5 billion extra capital in case of continuing crisis until end of 2011. In case of sovereign shock, the aggregate lost to the whole testing could be of EUR 67.2 billion.
The Euro has been shaken by the stress release, the EUR/USD rose quickly before reportfrom daily low at 1.2790 to test 1.2900 and get back to 1.2800 again after stress releases. Currently the pair is trading around 1.2820/40. EUR/JPY lost 110 pips after results and the EUR/GBP avoid its recovery from 0.8315, 1-week low, at 0.8360 to price back around 0.8330.
GBP/USD
Friday GBP/USD has gain +162 pips, biggest gain in a week.
From 30Mins we can see that this pair is currently resisted @ 1.5480 region.
Previous week high 1.5448.
next week, I reckon this pair to turn up before coming down.
After breaking the First Resistance 1.5480, Up potential at:
TG1: 1.5550
TG2: 1.5650
From 1.5650, I will observe for reversal sign, to short.
Existing Support 1.5350.
EUR/USD
Phew~ Had made some quick profit from the high of 1.3027 on 20/3/2010.
Before the roller coaster ride~~
EUR/USD closed the weekly candle near the week's opening price.
Trading Range for Monday: 1.2990 - 1.2740
Good to look for short around 1.2990 with 60 pips stop loss.
Down potential 1.2400 region.
USD/JPY
Apart from all the roller coaster ride, I like this pair which is quietly working on its way up.
Weekly chart, Harami candlestick reversal pattern.
overhead resistance at 87.50 now.
He is trying hard to break this level, do look into 30 minutes chart, it has been trying to break this resistance at least 3 times on friday, each time he tries, he has a higher and; higher low.
Although this pair do not have the almighty big trading range like Pound and Euro, but this pair has been working its way up, like the executives working on the corporate ladder. Breakout from 87.50 will lead to 89.00 region.
Failure to break 87.50 will test 86.50 region again.
Trading Range for USD/JPY:
86.53 - 87.86.
DJIA
Fundamental:
- A dividend hike from General Electric Co and mostly positive earnings, including from a handful of big blue-chips, combined to lift Wall Street.
- After receiving the results of the "stress tests" on European banks with caution, investors bid up stocks broadly late in the day, putting the Dow Jones industrial average on pace for its fourth gain during the week.
- These good news which has been lifting up Wall Street might be temporary as "The economy is still struggling; too many Americans are still out of work; and the nation's long-term fiscal trajectory is unsustainable," the White House said in the annual midsession review of President Barack Obama's budget.
DJIA has crossed the previous high of 10,407 and closed at 10,424.
The bull might be fighting with his last breath so look closely for short opportunities before the fall in August!
Overhead resistance at 10,450, there are two possibilities:
1. DJIA to continue to head north in the coming week, to form the right shoulder before turning down.
Look for opportunity to short when this pair approach 10,550 - 10,600 region.
2. DJIA to form a black candle with short shadow, we will see a clear divergence in 30 Minutes chart, get ready to short for quick profits.
Trading Range: 10,150 - 10,430
Renovation
Thanks for the visitors who has been supporting this blog.
I decided to remove all my previous postings, from today onwards, my blog will give a brand new outlook.
This decision is personal, I would consider to change the name of my blog (need suggestions..) this blog is my personal trading journal, not a recommendation to buy or sell, do consult your financial advisor before making any investment decisions. ^_^
I will simplified the buy/sell decision, be direct and show clear understanding of my own trading.
Removal of the previous postings also mean that I will let go the past, and start something new.
That I am committed to my own success and growth, committed towards my trading objective and sustainability in trading.
I wish all best of luck.
I decided to remove all my previous postings, from today onwards, my blog will give a brand new outlook.
This decision is personal, I would consider to change the name of my blog (need suggestions..) this blog is my personal trading journal, not a recommendation to buy or sell, do consult your financial advisor before making any investment decisions. ^_^
I will simplified the buy/sell decision, be direct and show clear understanding of my own trading.
Removal of the previous postings also mean that I will let go the past, and start something new.
That I am committed to my own success and growth, committed towards my trading objective and sustainability in trading.
I wish all best of luck.
Subscribe to:
Posts (Atom)