Buildcity in 2011 ~ Trading Journal

This is my gal

Weekly and daily charts per below, no much findings can be found from H4 or below, but I am bearish on this pair.

See pics

Oh god, I have 2 different views on GJ & EJ and suppose they are corelated to each other...... I am confused by my analysis

Yo City,

Good Analysis back there A pity i have been lacking time to do the same ...hahah

Don't worry about correlation .... sometimes .... for a short period of time (maybe a few months), correlation changes due to fundamentals and expectations. GBP has the advantage that it has its own currency despite been in the Euro-zone, so it can initiate rate changes, and no such need to consider other similar Euro-zone countries when doing the same. That UK has already started to initiate fiscal debt reducing measures, and having internal pressure to raise rates soon is viewed favourably. . ..

Whereas Euro is restricted to similar considerations due to a duel economy recovery pace between the strong and the weak countries within the union. Inflation is stamping its foot down, but rate increase has to be on hold (with only talk only so far) due to concerns that the rate increase might kill the PIIGS' recovery. So Euro is caught. Doing the rate increase might kill the recovery for PIIGS which would have far sweeping consequences, and not doing so, would raise the inflation spectre, the spectre that Germany fears most since it was hyperinflation that led Germany to WWII. And in EU, Germany calls the shot since most of the safety net money is provided by the Germans.

Investors are viewing GBP in a more favourable light than EUR at the moment of time, which explains why GBPJPY is forming a bottoming saucer formation, whereas EURJPY still seems to be in the consolidation phase for another down move. I suppose this explaination might explain off a little bit when the charts are not in phase

Tks Ken,

I have not put much concern on the fundamental side but solely on TA for both pairs. So will see if it goes according to my planned actions above. Tks for the sharing anyway and good pips to you.

How is Singapore live? I have arranged a short trip to Singapore / Malaysia with my family in coming Easter Holidays, hope this would be a refreshment for me.........

Catch you up later on, now back to work

Cheers
Eric

Well .... i guess every country has its fair share of pros and cons (things to complain about) ...hahah .... so i will skip the complaint portion ...tsktsk ...

Good here, other than escalating prices in petrol pump price, and food prices here I suppose it is no diff. else where too ....hahahah

Pace of life here is fast too. Stress is life. Stress is good ...
Otherwise senility could be next if our life is without stress ....LOL

Do enjoy your time here in SG and MY. These are both nice countries to be in. Just do note that weather is abit hot and humid, so dress comfortably

Just be a little bit more absent-minded to bring your labtop along .... so the need to trade would'nt divert you from precious family time

Just took a scalping trade

PS - Based on H1

An earlier play on EJ, for record.

http://www.forexfactory.com/showpost...postcount=6541

in long

Update: clsoed with +20p

Now, you better show us that you reversed and took the GJ short when it got right back to the 134.

Missed that during dinner with my children, didnt catch the top M then no point to get in the train in mid way

PS - I think I should better quick to fix my another trading a/c for longer term play.

Ok, so I'll let you eat dinner. But that is the only reason I am letting you miss that one.

Good job trading this morning.

H&S, let see

Shit, stopped out, 28 didnt take

Here is a failure trade I took the earlier today.

- Initially a w formation, look for long play, the price crossed the half r/n then my order was placed. suddenly killed by next bar. Well, its the cost of trading.

Hey City,

Nice work!!! I like your journal!!!

I took the similar trade on EU........

Hope you have move gain than mine, I should allow more room for this short play while my confirmation based on H1. Now look back the SL should be stayed above half r/n

Well positive is positive, look for another. I always remember our master told us that the one you dont play is the best trade. So when our preferred setup shows hand to us, go for it!!

See whether it work out, simple HH/HL approach

- now with +15, set SL to BE, free run, look for more

Hehe, almost kill!! I sat on my hands

Now back to an hr before......... still look for 161 level

Update: Finally.................... stopped out BE

As previous mentioned..

http://www.forexfactory.com/showpost...postcount=6562


False breakout or not, who knows!!

Free run now