Malaysia

As usual.. working sleeping eating.. haha.. big project huh..

the demand and supply of gj ending last friday.

http://img268.imageshack.us/img268/70/petango.gif


negative gap formed when market opened at 145.54 compared to friday's close of 145.80. it was immediately filled.
at the moment the H1 CS is testing the monthly's fibo 61.8, 146.16. let's see if the uptrend continues to break and hold the 61.8 as the new resistance level for this week.

Favourably, I'm looking forward for a bearish trend to perform subwave iii in white. Otherwise, please be careful for any breakout towards the upper green trendline and possibility to a "bull trap" scenario in magenta. Good luck.

This week, most of the pair now making good inside bar which mean that the market candlestick movement getting narrow/smaller than previous cs range..

And some of the pair have pin bar candlestick while others have doji...

Please be noted that the previous alt count in white is already invalid. Favourably, I believed market just performed a "bull trap" scenario which consist of a corrective abcde in diagonal triangle pattern. Therefore, I'm still looking for a possible bearish trend to be perform later. Otherwise, please be careful for any breakout towards the upper green trendline and magenta critical line. I also would like to take this opportunity to wish everybody a very Merry Christmas and a Happy New Year. See you all and I'll be back after holidays. Take care....

Hi, SHAM ada lagi kah?

Hi Jebatfx,

You don't do EURJPY analysis or wave counting? If you do it, do you mind sharing it here?

This is an active column man... sound like lots of Malaysian is trading Forex... ;-)

happy trading and happy new year guys....1forex hehehe

[quote=stewart_2611;3313020]As expected for EUR/GBP analysis...[/QUOTEhello stewart, Happy New Year 2010 . I m junior in forex and started < 4 months . I would like to pick-up a simple method and find your method quite simple and reliable for EU and GU. In fact I was following your thread and speculation since 28 Nov and gain > 250 pips for 1 trade closed on 5 Dec.
I wish you could help me more on your technique.

Warmth regards,
Juniorforex

Gbp vs Jpy (1H) - Please be noted that due to the strong bullish trend, therefore I have to do a recount towards the bearish possible alt counts. Preferably, I'm looking forwards for a valid rising wedge pattern that would bolster towards the bearish continuation trend scenario (yellow trendlines). A pullback from the upper yellow trendline would bolsters to this scenario. Please be careful since market may have a possibility to perform a corrective wave abcde in magenta.

Gbp vs Jpy (Daily) - At this moment, market already touched the upper trendline of the bearish channel in daily. Favourably, I'm looking forwards for a pullback scenario either to perform corrective wave c in white or wave iii in magenta. Otherwise, please be careful for a breakout from the upper green trendline.

AUD (Daily) - Preferably, I believed market already in bearish reversal trend either towards the alt counts in magenta or white. Please be careful for any bullish retracement trend to perfom major corrective wave B either in whte or magenta.

Eur vs Usd (Weekly) - Preferably, as long the white critical line is remain intact, I believed market will perform a major bearish reversal trend scenario to perform a major corrective wave C (white) in 5 bearish wave structures. At the moment, I believed market in progress to complete subwave i. Therefore, advisable to look for any good bearish entry once market perform a bullish retracement trend to perform subwave 2 later. Good luck and Happy New Year.

Guys what do you think about this? click the link:

http://thestar.com.my/news/story.asp...337&sec=nation

Hi fellow malaysian traders?

I,ve raed about bank negara press statement to block illegal forex trading.


Beware of Illegal Foreign Currency Trading Schemes
Bank Negara Malaysia would like to caution members of the public not to participate in any illegal investment or training programme on foreign currency trading offered by individuals or companies both domestic and foreign.

Members of the public are usually enticed to attend such investment or training programmes with promises of quick and good returns. The modus operandi of such programmes have included:

1. Offering free training, seminars or workshops to lure investors, prior to inviting investors to set-up an online foreign currency trading account with a principal company (purported to have valid licence to trade foreign currency overseas);
2. Providing convenient access to the principal company's website and trading facilities to facilitate online foreign currency trading by investors;
3. Recruitment of fresh graduates as marketing executives and encouraging them to get their family and friends to trade foreign currency; and
4. Requiring investors to deposit an amount of money into a bank account to begin trading foreign currency, and subsequently, requesting for a top up on their initial investment ("margin call") to avoid losing their capital.

Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. It is also an offence for a person to aid or abet another person to buy or sell foreign currency with any person, unless the person is an authorised dealer.
The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia's website (http://www.bnm.gov.my).
For further enquiries, members of the public can contact Bank Negara Malaysia at:
BNMTELELINK (Customer Service Call Centre)
1-300-88-5465 or
E-mail: [email protected]



Bank Negara Malaysia
4 January 2010

Just want to make clear a few things...

Is online forex trading is illegal in our country?
Which broker is permitted by BNM to trade forex online?

Everybody knows forex is illegal in msia. Legal if u using banks.

List of Authorised Dealers of Foreign Currency Pursuant to Section 2 of the Exchange Control Act 1953

1. Affin Bank Berhad
2. Affin Islamic Bank Berhad
3. Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
4. Alliance Bank Malaysia Berhad
5. Alliance Islamic Bank Berhad
6. AmBank (M) Berhad
7. AmIslamic Bank Berhad
8. Asian Finance Bank Berhad
9. Bangkok Bank Berhad
10. Bank Islam Malaysia Berhad
11. Bank Muamalat Malaysia Berhad
12. Bank of America Malaysia Berhad
13. Bank of China (Malaysia) Berhad
14. Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad
15. CIMB Bank Berhad
16. CIMB Islamic Bank Berhad
17. Citibank Berhad
18. Deutsche Bank (Malaysia) Berhad
19. EON Bank Berhad
20. EONCAP Islamic Bank Berhad
21. Hong Leong Bank Berhad
22. Hong Leong Islamic Bank Berhad
23. HSBC Amanah Malaysia Berhad
24. HSBC Bank Malaysia Berhad
25. J.P. Morgan Chase Bank Berhad
26. Kuwait Finance House (Malaysia) Berhad
27. Malayan Banking Berhad
28. Maybank Islamic Berhad
29. OCBC Bank (Malaysia) Berhad
30. Public Bank Berhad
31. Public Islamic Bank Berhad
32. RHB Bank Berhad
33. RHB Islamic Bank Berhad
34. Standard Chartered Bank Malaysia Berhad
35. Standard Chartered Saadiq Berhad
36. The Bank of Nova Scotia Berhad
37. The Royal Bank of Scotland Berhad
38. United Overseas Bank (Malaysia) Berhad

Gbp vs Jpy (1H) - At this moment, I believed market either in progress to perform subwave 1 in white or subcorrective d in magenta. Therefore, please be careful for any bullish retracement trend scenario. Otherwise, please be careful for any possibility towards a bullish trend refering to the alt count in yellow.

AUD (Daily) - At this moment, I believed market in progress to perform major corrective wave B either in white or magenta. A pullback from the upper green trendline and later a breakout towards the bearish continuation critical line 1 would bolster towards the alt count in white scenario. Otherwise, please be careful for any breakout towards the upper green trendline either to perform a "double top" corrective wave B in magenta or another bullish rally to complete major wave 5 in yellow. Good luck.

in malaysia, only transferring huge money to outside is not illegal

Mean we can trade forex online but must transfer the money thru one of this banks .... right ! thanks.. jebatfx.

Magnum, Toto are Legal , forex trading illegal??? what lah' ..

Based on the official statement by BN, my understanding is that it is ok to trade forex online, as long as you keep it to yourself. DO NOT offer your expertise in trading to anyone as an individual or company thereby recommending a foreign broker. That is, do not offer to "manage" fund for any individual or company or teach people to trade. When you do so, you are indirectly encouraging people to transfer money out of Malaysia and the money may not come back. The money is either lost in the market or compounded to huge sum of profits and kept in tax-free haven!

Happy new year to everybody...

So we can see market started to have active movement this week after xmas & new year holiday..previously we can see small candle and recently we can see the candle have high range (increased liquidity)...

below I included analysis for EU...so far the trend is bearish and at the moment the candle retrace up...I'm expecting it to have maximum retracement until level 38.2% fibo which will indicate the trend still have healthy bearish movement...