Malaysia

The easiest Breakout trade ever Keep on climbing baybeh!!!

Update.

update: sembelih one at 55pips & the let loose one hit trailing sl at 26pips

Good morning guys.........

At this moment, please study all possible alt counts (white/yellow/magenta) and determine which one is more preferable according from your analysis. I'm looking for a completion of wave 5 either refering to the alt count in yellow or magenta. Advisable to standby for any possibility of bearish reversal trend to perform corrective a, b and c after completion of wave 5. Therefore, please look for a good bearish reversal signal from BSTS later within this week before making any entry. Unless there is a true breakout to the bullish continuation line 5 and 6, this scenario would still valid. Also please watch carefully those lower red trendline for any breakout or bounce. Good luck.

Hi guys!!!Yesterday GU shoot up after the news...Managed to ride the wave up...But missed the boat on geppy....However today might be different for GU...Expecting it to reverse it gains...Will wait for the european or london market open for entry....Happy trading....

What happen here?.. all trader already adept the nocturnal behavior after watching dark knight,...

Dollar Trades Near 1-Month High on Fannie, Freddie Rescue Bill

July 24 (Bloomberg) -- The dollar traded near a one-month high against the yen after U.S. lawmakers approved a bill that allows Treasury Secretary Henry Paulson to bail out Fannie Mae and Freddie Mac.
The currency was also near a two-week high against the euro as a rally in financial stocks prompted traders to increase bets the Federal Reserve will raise interest rates. The New Zealand dollar fell to a six-month low after the country's central bank unexpectedly cut rates for the first time in five years.
``The rescue plan will give the dollar some measure of support,'' said Masanobu Ishikawa, general manager of foreign exchange at Tokyo Forex & Ueda Harlow Ltd., Japan's largest currency broker. ``It seems the U.S. government has avoided the worst-case scenario for Fannie and Freddie.''
The dollar traded at 107.85 yen at 1:54 p.m. in Tokyo, from 107.90 yesterday. It earlier reached 107.98, the highest since June 26. The U.S. currency was at $1.5697 per euro, after yesterday touching $1.5670, the strongest since July 9. The yen traded at 169.29 per euro from 169.36, after yesterday reaching a record low of 169.96.
The kiwi, as New Zealand's currency is known, slid to 74.19 U.S. cents, the lowest since Jan. 22, before trading at 74.23 cents, from 75.16 cents late yesterday in Asian trading. The Reserve Bank of New Zealand lowered its benchmark interest rate by a quarter of a point to 8 percent.
``Provided that the outlook for inflation continues to improve and there is no excessive exchange rate depreciation, we would expect to lower rates further,'' Governor Alan Bollard said today in a statement in Wellington.
Dollar Index
The Dollar Index on the ICE market, which tracks the greenback against the currencies of six U.S. trading partners, was at 72.756 after yesterday rising to 72.854, the strongest since July 9.
Crude oil for September delivery was little changed at $124.28 a barrel, following a 2.7 percent decline yesterday. The euro-dollar exchange rate and oil have moved in the same direction 90 percent of the time during the past year, according to Bloomberg calculations based on the correlation of their value changes.
The House of Representatives yesterday approved a rescue package that gives Paulson authority to buy shares in and lend funds to Fannie Mae and Freddie Mac, and provides for a federal agency to insure refinanced home loans. The bill has still to pass through the Senate.
The dollar fell to a record $1.6038 per euro on July 15 as traders speculated that Fannie and Freddie, which own or guarantee almost half of the $12 trillion in outstanding U.S. home loans, would be forced to seek a bailout.
Rate Increase?
``A week ago the market was looking into the abyss,'' said Marc Chandler, global head of currency strategy at Brown Brothers Harriman & Co. in New York. ``Now people are able to take a step back. The dollar is firming.''
Futures traded on the Chicago Board of Trade showed yesterday a 57 percent chance the Fed will increase its 2 percent target rate for overnight lending between banks by at least a quarter-percentage point by Sept. 16, up from 49 percent odds on July 22. Policy makers next meet Aug. 5.
All 12 of the Fed's regional bank districts reported ``elevated or increasing'' prices in June and July, the central bank said in its regional economic survey, known as the Beige Book for the color of its cover. Five of the districts reported a ``softening in their overall economies,'' the Fed said.
Fed's Plosser
Philadelphia Fed President Charles Plosser said yesterday that he couldn't rule out an increase in borrowing costs even as housing prices drop.
``The question becomes how long are we willing to allow the pressure from a fairly accommodative monetary policy stance'' to last ``before it begins to feed broad-based inflation,'' Plosser said in an interview with Bloomberg News.
Dollar gains may be held back by reports today and tomorrow that are expected to add to evidence of a U.S. housing slump.
The National Association of Realtors will today say sales of previously owned homes fell to a 4.94 million annual pace in June, from 4.99 million in May, a Bloomberg survey showed. The Commerce Department will tomorrow report sales of new houses dropped to an annual pace of 503,000 from 512,000 in May, a separate survey shows.
`Excessive Euphoria'
``Markets are in a state of excessive euphoria about the U.S. economy and the dollar,'' said Tetsuhisa Hayashi, chief manager of foreign-exchange trading at Bank of Tokyo-Mitsubishi UFJ Ltd. in Tokyo, a unit of Japan's largest lender by market value. ``As long as house prices keep falling, the economy cannot climb out of a slowdown. I still expect the Fed's next move is a rate cut.''
The U.S. currency may fall to 103 yen in three months, Hayashi said.
The euro may weaken for a third day against the dollar on speculation an industry report today will show German business confidence fell to the lowest in more than two years in July.
The Ifo institute will say its business climate index declined to 100.1, the weakest since December 2005, from 101.3 in June, according to a Bloomberg News survey of economists. Ifo will release the report at 10 a.m. in Munich.
``The euro looks weak, going into today's Ifo data,'' said Koji Fukaya, senior currency strategist at the Tokyo unit of Deutsche Bank AG, the world's largest currency trader. ``With the European economy slowing, the markets will likely raise expectations of a rate cut by the ECB.''
Deutsche Bank, Germany's biggest bank by assets, predicts the European Central Bank will lower rates in the first quarter and the euro may fall to $1.45 against the dollar by year-end, Fukaya said.

Source : Bloomberg.com.

sooooo quiet....

i'm in GU heading south....anyone with me here? targetting yesterday low...if it breaks, more sell will be added...

Im looking for Awie, Wakli, Sham for banana ride.. Anyone with me????
Yehaaaaaa..................

IM with you buddy... Im targetting s2 area around 9850..

4:30am GBP http://www.forexfactory.com/images/m...mpact_high.gif Retail Sales m/m ??? -2.5% 3.5%

Leaking News???

our ketua kampung just check in..let see what he got for us today...huhuhu...

oh, pips on green already...as sham always said, auto mode!

I'm with you bro!!!Yeehaaaaa!!!

Actually I was here early... I just watching as guest... see how the thread doing without me.

That was an easy trade on CABLE. Clear Breakout then penetrate DPP... straight away I SHORT.

Ready to TP soon... depending on the Retail Sales data and market reaction of it... caution with PRICED IN factor as well.

As right now... more than 70pips floating profit on Cable SHORT... will move down SL 25pips away from current price 2 minutes before the News release.

T.A.Y.O.R.

alhamdulillah is all i can say right now...

Reached one of my support line... Profit taken out more than 100pips Alhamdulillah

4:30pm GBP http://www.forexfactory.com/images/m...mpact_high.gif Retail Sales m/m -3.9% -2.5% 3.6%

Looking at PA earlier on... those BIG PLAYERS could had the information earlier than us.

Im taking a bath and my TP is hit already.. i love you 9850..
Now im spectators.. I dont see an early banana ride today, maybe all of you is busy like i did? Its only sham doing it on full time ya? n rest still combating with traffic jammed?

My LONG yesterday hit SL on the green I just Triggered BFD at the Daily S1 which is also around UP TL support. SL below the Support line.

T.A.Y.O.R.