Tuesday, June 23, 2009
Time Cruiser 3
Forex is a tricky game. And that is the ultimate reason why most people who trade blindly or take it as a gamble lose big time. Those who trade at the “advise” of others fail as well. The people with solid systems and good discipline are the ones who can actually profit from Forex. And even so, those people with good systems sometimes lose trades.
I have developed several Forex trading systems. Some are scalping systems, some are day-trades and some are position-trade systems. They all have their limitations but I will always be trying my best to perfect them to ensure a higher win-ratio and a lower risk exposure. My latest system in development is called “Time Cruiser 3”.
Time Cruiser 3 will be using day and position trading strategies mostly, for a more stable trading experience.
Monday, June 22, 2009
USD and JPY. Will they float?
I haven’t had time for a proper market analysis last weekend. I had problems with one of my websites and had to spend the whole day from 8am to past midnight, for 2 whole days, just to fix the problems. No more exercise time. And to top that up, I still need to finish my C++ assignment: creating a soccer simulation. Aarghh.
But a brief look at the Forex market saw potential U-turns for United States Dollars and Japanese Yen. Both currencies were going down and for the past few weeks, they look like they are going to reverse, but then they went back down. But last week, if they were indeed to go down, they should have dropped, but they held steadily against other major currencies and did not break supports/resistance. For example, GBPJPY seem to be forming head and shoulders. AUDUSD formed double tops and could be going for head and shoulders too.
Are those economies healing? We all just have to wait and find out.
Wednesday, June 17, 2009
USD Ranging Dangerously
Last week, the United States Dollar seemed to be rising. Major pairs involving USD like AUDUSD, EURUSD and GBPUSD showed that the trend was going to end. But then again, today, as US news was released, the trends look like they are going to resume.
GBPUSD, EURUSD and AUDUSD are showing signs of climbing back up. Dojis and spinning tops can be seen at the bottom. However, there is also a probability that the rise is temporary and also part of the reversal process. Such serious trend reversals usually do not happen in a day or two. It may take weeks, and before it fully reverses, the price will counter-trend up and down and this might be part of that process.
Tuesday, June 16, 2009
USD Really Going Up in June 2009?
After checking the charts, the United States Dollar seems to be growing strong in June 2009. The previous months’ news all predicted a major downfall but the currency pair charts seem to tell a different story. By looking at the daily charts, I could see reversal patterns:
1. GBPUSD : double tops
2. EURUSD : head and shoulders
3. NZDUSD : trendline break
4. USDCHF : trendline break
5. USDSGD : trendline break
6. AUDUSD : double tops
President Obama could be working his magic. Although the Australian Dollar and Great Britain Pound are still strong, the Greenback looks like it is pushing through and trying to turn GBPUSD and AUDUSD around. I predict that we will see the final outcome of this confrontation late June 2009 or early July 2009.
Interesting…
Sunday, June 14, 2009
Is it a good week to Buy USD in Forex?
June 15, 2009. The start of a new week in the Forex market. The USD has been dropping and dropping. But last week, it could not drop any further. Looking at GBPUSD and AUDUSD charts, the price could not beat the last resistance and it dropped. And by looking at the USDCAD chart, the trend looked a bit funny with hammers and hangmans forming, indicating a possible reversal. USDSGD and USDCHF are starting to range too.
Checking the news, more articles were mentioning the USD’s comeback, with improving customer sentiment news and bla bla bla.
So should I trade long and buy USD? I will still wait a few days to see where USD pairs are going, before stepping in. Right now I will be focusing more on other pairs like JPY or GBP or EUR. But I strongly suggest against selling USD although the “general” news still dictates a dropping USD.