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  • #1,021
  • May 22, 2011 5:02pm May 22, 2011 5:02pm
I read your posts on other threads. Much respect

Olu
If you think you can or cannot do it you are correct
  • #1,022
  • May 25, 2011 3:02am May 25, 2011 3:02am
Quoting Olu
Went short this pair @3825. Stop was just above the recent high. Looking for new lows. First challenge is the 3760 support.

Olu
Closed the trade before the rally. It didnt quite make it to my target
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadTrade.JPG Size: 7 KB
If you think you can or cannot do it you are correct
  • #1,023
  • May 25, 2011 3:07am May 25, 2011 3:07am
Looks like its going to blow...
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If you think you can or cannot do it you are correct
  • #1,024
  • May 25, 2011 7:14am May 25, 2011 7:14am
Quoting Olu
Looks like its going to blow...
Its gone
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-daily-25052011-1512uk.JPG Size: 48 KB
If you think you can or cannot do it you are correct
  • #1,025
  • May 26, 2011 8:53am May 26, 2011 8:53am
This pair has fallen out of bed and 8650 has gone
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If you think you can or cannot do it you are correct
  • #1,026
  • May 26, 2011 1:35pm May 26, 2011 1:35pm
Quoting Olu
This pair has fallen out of bed and 8650 has gone




Attached Image
  • #1,027
  • May 26, 2011 1:39pm May 26, 2011 1:39pm
The bears and the buls are slugging it out as in your picture and the bears are winning at the moment
If you think you can or cannot do it you are correct
  • #1,028
  • May 26, 2011 1:58pm May 26, 2011 1:58pm
Eur/Cad looks like its giving a good entry to go short on the daily. I don't know if we trade pinbars on this thread but if it closes 10-30 pips lower it makes for a really good entry on the daily, and the daily leads to some sizable moves.
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  • #1,029
  • May 27, 2011 8:12am May 27, 2011 8:12am
Quoting beachallstar
Eur/Cad looks like its giving a good entry to go short on the daily. I don't know if we trade pinbars on this thread but if it closes 10-30 pips lower it makes for a really good entry on the daily, and the daily leads to some sizable moves.
Yes I do trade pinbars- especially if it means reverting to the prevailing trend. However on this one I think this pair is atill strong to the upside. I believe a real downer is coming though. Other potentials are a possible double top scenario coming up soon. well see what would happen when(if?) we get there.

Thanks for contributing to the thread. Please feel free to contribute any nuggets you have.

Olu
If you think you can or cannot do it you are correct
  • #1,030
  • May 27, 2011 8:14am May 27, 2011 8:14am
I am short the usdsgd. Please find uploaded a chart.

Price below the 100sma
Stoch has turned down
Double top scenario
Price approaching the neckline of a double top
trendline broken to the downside
Attached Image
If you think you can or cannot do it you are correct
  • #1,031
  • May 28, 2011 3:10pm May 28, 2011 3:10pm
This week was funny for me in forex. Profitable but funny
Please find uploaded a daily chart of the usdcad. This pair is at a crossroad right now.

Price is teethering on the 100sma with friday's close just under it (bearish)
stochastics have turned down - and right at the highs at the moment (bearish)
5 indecisive candles (last one bearish)
original trend is bearish

I will be watching this pair closely to sell a break of the lower channel drawn on the chart as we will be attempting to retest the lows. And beyond if there is a hint of QE3

Also keep a lookout for a breakout through the topside
Attached Image
If you think you can or cannot do it you are correct
  • #1,032
  • May 28, 2011 3:14pm May 28, 2011 3:14pm
This pair has convincingly closed beyond the trendline (shown). it appears the us$ is in for some hardtime and a retest of the lows is in the works

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: usdsgd-daily-28052011.jpg Size: 68 KB
If you think you can or cannot do it you are correct
  • #1,033
  • May 28, 2011 3:33pm May 28, 2011 3:33pm
Pls find uploaded the weekly and daily chart of the above pair. I believe long term this pair is going down at least to the recent weekly low (8614)

Weekly chart analysis
Price below the 100sma (really bearish)
Stoch has fully turned down (bearish)
Lots of nice bearish candles

Daily chart analysis
Price below the 100sma (bearish)
Stoch about to turn up from oversold (neutral to bullish)
123 break to the downside (bearish)

On the whole this pair is going down but we might have a bit of a retracement to unwind the oversold stochastics but it ultimately will go lower as guided by the weekly trend

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: audchf-daily-28052011.jpg Size: 96 KB
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If you think you can or cannot do it you are correct
  • #1,034
  • May 28, 2011 3:48pm May 28, 2011 3:48pm
check out these pairs that are hitting new highs

 

  1. nzdusd
  2. chfjpy
  3. gbpchf (new lows)
  4. eurchf new lows)
  5. audcad

Trends in currencies take a long time to change/turn - like the titanic. Go with the trend on a retracement...

Olu

If you think you can or cannot do it you are correct
  • #1,035
  • May 28, 2011 4:22pm May 28, 2011 4:22pm
The Dollar Index chart is uploaded.

We have had a nice sharp upturn to correct the oversold nature of the stochastics. Price has turned down again and there are bearish candles galore all over the place. Price cannot just reverse course on a v like that. There is usually a retest of the lows and from there it might even keep going...

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: dollarindex-daily-28052011.jpg Size: 44 KB
If you think you can or cannot do it you are correct
  • #1,036
  • Edited 4:02pm May 29, 2011 3:23pm | Edited 4:02pm
This pair is in a congestion channel at the moment attempting to break down. Personally I am bullish yen pairs but I may be wrong. Other yen pairs are making new highs eg chfjpy. But who knows before entering a trade how a trade will turn out. You just get in there with your game plan and mone management and watch it play out.

I will be taking a cautious short on a breakdown (and a close) out of the channel

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy-daily-29052011-2315uk.jpg Size: 83 KB
If you think you can or cannot do it you are correct
  • #1,037
  • May 30, 2011 3:24pm May 30, 2011 3:24pm
Quoting Olu
This pair is in a congestion channel at the moment attempting to break down. Personally I am bullish yen pairs but I may be wrong. Other yen pairs are making new highs eg chfjpy. But who knows before entering a trade how a trade will turn out. You just get in there with your game plan and mone management and watch it play out.

I will be taking a cautious short on a breakdown (and a close) out of the channel

Olu
This pair closed back in the channel. Therefore more consolidation in the works imho.

Olu
If you think you can or cannot do it you are correct
  • #1,038
  • May 30, 2011 5:16pm May 30, 2011 5:16pm
The eurjpy has flagged a buy

Price above the 100sma
stoch has turned up
line in the sand 113.65
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-daily-31052011-0033uk.jpg Size: 96 KB
If you think you can or cannot do it you are correct
  • #1,039
  • May 31, 2011 12:22am May 31, 2011 12:22am
Quoting Olu
The eurjpy has flagged a buy

Price above the 100sma
stoch has turned up
line in the sand 113.65
As flagged in the post quoted we have an impulse move up in the eurjpy
a 123 break up
break above 117 area resistance
long bullish candles on the 4hrly
perhaps we are going much further

target 120 area first?
If you think you can or cannot do it you are correct
  • #1,040
  • May 31, 2011 5:02am May 31, 2011 5:02am
Find uploaded a daily chart of the eurcad.

We are seeing a familiar h&s pattern
Also the right shoulder is not formed (we need to see a reversal) yet but we can watch this one as we are coming to the same levels as the left shoulder
1.3650 area is the line in the sand
Another supporting technical is the overbought stochastics
As we know a h&s is not a h&s until the neckline is broken. However other traders who have a tighter signals can look out for a short and add more when the neck line is broken. A break of the neckline has a target of 700 pips



Olu
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