THINK TECHNICAL

GBPUSD Follow Up

noreply@blogger.com (Minyu2Fx) — Tue, 05 Jul 2011 16:36:00 +0000

The market decided to screw me shortly after my last post. GBPUSD turned sharply after the PMI release. I decided to get out of the market during this pullback from euro session high just now. It could return to test the support level but I didn't like my level of exposure. You gotta trade the plan right?

My next move is to short cable again if the support breaks (grey area). 1.6127 will be my risk level while my target remain the same (see previous post).

GBPUSD Analysis

noreply@blogger.com (Minyu2Fx) — Tue, 05 Jul 2011 06:51:00 +0000

There is a good chance that cable had completed another minor correction phase from its last impulse wave. First target is around 1.5864 which is the 100% projection of 1.6744 to 1.6058 from 1.6546. Longer term projection is around 1.5445 which is the 161.8% projection. As for risk assessment, a break above 1.6100 will change my view regarding this trend continuation.

LPKR Buying Signal

noreply@blogger.com (Minyu2Fx) — Mon, 21 Feb 2011 12:23:00 +0000

LPKR has reached the target projection from the previous double top pattern at Rp500/share. The price pattern now suggest another reversal by completing a double bottom pattern. The price target based on this double bottom pattern is at Rp680 (range from bottom to neckline). However Rp640 level could provide strong resistance.

LPKR Near Support Trendline

noreply@blogger.com (Minyu2Fx) — Tue, 11 Jan 2011 03:13:00 +0000

I've been trying to experience the Indonesian stock market movement and this was the first stock ever that I bought. Got it at Rp500 the first time (December '10) for just 4 lot and added 9 lot more until now, with average price around Rp640. The uptrend was held at 750 and retrace back to 650 at the moment, which is near the support trendline. The breaking of this trendline and 620 area suggest a double top reversal and could bring the stock back to Rp500 level. In the opposite perspective, it is also a good time to buy, hoping it will break Rp750 resistance.

GBPJPY: Dying To See A Hammer

noreply@blogger.com (Minyu2Fx) — Mon, 18 Oct 2010 02:30:00 +0000

After gaining against JPY for 2 days, pound sterling started to give it all back. The current rate is 129.54 with support trendline at 129 area. As I said in my previous post, there is no sign for a reversal, yet. Meaning, I'm dying to see a hammer or at least a long lower shadow/tail/wick on daily chart on the following days. No no no.. the hammer wouldn't be my buy signal, just a first signal for a bullish movement. The price should close above 130.70 to confirm the hammer. Now you might think that confirmation would be my buying signal. Well, false again. But we almost there. After closing above 130.70 area, the pair should retrace right? That would be my buying signal. Now, lets wait for that moment to happen.

GBP/JPY Update

noreply@blogger.com (Minyu2Fx) — Wed, 13 Oct 2010 04:26:00 +0000

Following my last post on GBPJPY titled 'what if', the pair had tested 135 level before turning back to its previous level. Current rate for this pair is 129.38, which is also at the support trendline. So far, there is no sign of reversal. Nonetheless, the price did find some support in this area. I would suggest a neutral view, with a possibility to rise further to the upper trendline. Closing below previous bottom would trigger bearish view. Other than that, the scenario for 141.20 area is still in play.

What if...

noreply@blogger.com (Minyu2Fx) — Thu, 09 Sep 2010 15:01:00 +0000

Above is GBPJPY weekly chart. The pair depreciates again earlier today and bounced near 128.50. I drew three trendlines showing forecasted support and resistance. Now, let's imagine. What if this is where the fall since August last year ends? What if the price fail to break trendline number 1 and the last bottom at 126.73 will not be touched? What if this is where the uptrend starts? What if it reaches 139.xx in December? What if it continue to rise to 160.xx next year? By the way that is around 3050 pips from current price :p

But what if I'm wrong??? ;))

USD/CHF Near Support Trendline

noreply@blogger.com (Minyu2Fx) — Fri, 03 Sep 2010 07:23:00 +0000

Above is USD/CHF weekly chart. The pair is very close to touch the rising trendline connecting 2 previous extreme lows. I'm expecting candle reversal pattern over the next few weeks. Risk should be limited below the trendline, now at 1.0020/40 (about 115 pips from current price). The best thing about this setup, obviously, is the potential return.
There are so much room upside for this pair (1000 pips or more). If the trend does reverse, the likely target is the falling trendline connecting the highs. And, who knows..there might be a break above the resistance trendline ;)

AUD/USD Target Reached

noreply@blogger.com (Minyu2Fx) — Thu, 02 Sep 2010 09:33:00 +0000

The pair reached target at 0.9078 and correction is expected (see previous AUD/USD post). First target is around 0.9026 and 0.8965 (near trendline) next. Stop should be above the previous high around 0.9115.

GBP/JPY Hidden Divergence

noreply@blogger.com (Minyu2Fx) — Thu, 02 Sep 2010 09:22:00 +0000

The pair did not bounce on the broken resistance and reach 129.16, about 35 pips from the previous low. Stochastic indicator shows hidden divergence at this current low, which mean a bullishi signal. Stop remains around 128.70/80, while target is around 131.12 and 131.65 next. Important high is at 133.59, therefore the pair might test that level if the bull is strong.

GBP/JPY Follow Up Post

noreply@blogger.com (Minyu2Fx) — Thu, 02 Sep 2010 02:47:00 +0000

The pair broke the resistance yesterday during the US session. The price is now making a return move, testing the broken resistance. I expect a second leg up toward 131.70/90 area before NFP. Visible stop is around 128.80. I hope move this to 129.70 area if the price does bounce after this.

GBP/JPY Gonna Break Above?

noreply@blogger.com (Minyu2Fx) — Wed, 01 Sep 2010 12:04:00 +0000

The pair is currently consolidating between 130.35 and 128.63 following the fall from 133.59. At this point, we wait. If the price break above the resistance, the it is the double bottom pattern. The target would be around 131.40. If the support broken after ADP released, then the downtrend should continue..at least until Friday. Ok then lets see what happen in the next few minutes. Enjoy the show!

AUD/USD Bullish Possibility

noreply@blogger.com (Minyu2Fx) — Sun, 29 Aug 2010 12:37:00 +0000

The pair broke the trendline on Friday and the bullish mode is on for tomorrow. The range of the last wave (CD) already match with AB and we might see a return move to the breaking point of the trendline. I am expecting the same correction size as BC, although it might be longer this time. Risk should be limited above 0.8860, so try to enter as near as possible to that level. Or, enter above 0.9000 and look for 0.9050 area, after we see the correction phase. Have a nice weekend!

Continue or Reverse?

noreply@blogger.com (Minyu2Fx) — Thu, 29 Jul 2010 01:48:00 +0000

Check out this falling wedge on GBPJPY H1 chart. Wait for a breakout to confirm the completion of the pattern. Break on the upside or above 136.53 should trigger buyers and the pair may test the resistance around 137.30 area. Break on the other side or below 135.86 should indicate further correction to this uptrend.

Try Long USD/CHF

noreply@blogger.com (Minyu2Fx) — Tue, 13 Jul 2010 06:00:00 +0000

USD/CHF has fallen for more than 800 pips since the last signal on June 6th. Honestly, I was expecting more swings in this bearish movement. Nevertheless, it has reached the support around 1.0500 and I prefer a long position from here. Target is near the broken support trendline or 1.0895 area. But first USD/CHF must break 1.0750 area. Stop loss area is below the previous low around 1.0477/90.

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noreply@blogger.com (Minyu2Fx) — Sun, 11 Jul 2010 07:28:00 +0000

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USD/CHF Short Signal

noreply@blogger.com (Minyu2Fx) — Wed, 09 Jun 2010 06:50:00 +0000

I have been watching this pair for several days now waiting for this moment. The pair has move back inside the trendlines and I have entered short position at 1.1532. If 1.1728 is the top of the fifth wave, then we should see A-B-C corrective waves. I calculate minimum and maximum movement for this and got 2 lines there (see pic). Between those lines is our target area. That is all guys. Happy pippin!

Fight The Trend! Go Long!

noreply@blogger.com (Minyu2Fx) — Tue, 18 May 2010 03:19:00 +0000

Hi there, I bought EUR/USD, EUR/JPY, and GBP/JPY earlier at 1.2336, 113.99, and 133.43 respectively. I know that the trend is still down and honestly, I'm a bit worry about these entries ;P

Nevertheless, EUR/USD has finished 100% of the previous impulsive wave and another correction could be in progress toward 1.2800 area. EUR/JPY still in the1-week down channel. Break of this channel should confirm 112.45 (yesterday's low) as support. I target 124 area for EUR/JPY. For my baby GBP/JPY, I target 135 and 137 area. Please be good GJ..

USD/CHF: Keep On Selling

noreply@blogger.com (Minyu2Fx) — Thu, 29 Apr 2010 08:59:00 +0000

Above is USD/CHF daily chart which showed my chart setup for USD/CHF. I shorted the pair again targeting 1.0717 level near 50% retracement of 1.0501 to 1.0923. The stop loss level is above the 1.0923 level. I also add a blue channel there based on the last three waves. Okay that is all for now. Happy trading!

USD/CHF: Sell Now

noreply@blogger.com (Minyu2Fx) — Fri, 23 Apr 2010 04:34:00 +0000

I just shorted USD/CHF near the trendline resistance. I think its a pretty good chance for another swing down to the support trendline. I opened 3 positions with 50 pips target for the first position and gonna leave the target open for the rest positions. Okay thats all and this is probably my last trades for this week..probably.. :P

EURUSD: Buy Now

noreply@blogger.com (Minyu2Fx) — Tue, 20 Apr 2010 06:58:00 +0000

Hi guys! I have just finished my setup for EUR/USD. Yesterday, the pair found support around 1.3433 and closed above the daily open price. I have bought the pair at 1.3467 but break of 1.3481 on hourly chart is my confirmation for another swing to test the falling trendline (red dot). As for risk, I'll cut loss if the pair break below 1.3430.

In bigger view, EUR/USD has finished 5 waves down from 1.5143 with low at 1.3266 before forming a double bottom pattern. However, the bearish view remains as long it stays below 1.3815 resistance, while break of the low may bring EUR/USD to the neckline on weekly chart.

GBP/JPY: H1 and H4 Chart

noreply@blogger.com (Minyu2Fx) — Thu, 15 Apr 2010 04:11:00 +0000

GBP keep on gaining against Yen after a reguler-hidden divergence combination on hourly chart. At the moment, GBPJPY is facing the resistance trendline but still maintain above 144.70 level. Further pull back may be seen until 144.00/30 area. 4-hour resistance trendline is now around 146.50, but 145.50 area is enough for me ;P

GBP/USD H4 and Daily Chart, Buy Now

noreply@blogger.com (Minyu2Fx) — Sun, 28 Mar 2010 06:11:00 +0000

My setup from my previous post didn't play right although the pair did made a lower low. Cable tested the 1.4781 support and reached as far as 1.4797. On daily chart, the candlestick make a reversal pattern (forgot what they call that pattern :P) and still forming a divergence in both 4-hour and daily chart. However, confirmation for uptrend in 4-hour time frame is above 1.5381. If you aggressive enough, you can buy now with stop loss below 1.4781, targeting 1.5381 first and 1.5581 (38.2% retracement of 1.6877 to 1.4781) after that. That is all. Have a nice weekend guys!

GBP/USD H4, Sell Below 1.4976

noreply@blogger.com (Minyu2Fx) — Mon, 22 Mar 2010 07:26:00 +0000

Above is Cable 4-hour chart. The pair broke the rising trendline and testing 1.4976 level at the moment. I'll keep my short position as long this level remain intact. Support suppose to be around 1.4872 (March 10th low). Ok thats all. Have a nice day guys!

GBP/JPY Break H4 Trendline

noreply@blogger.com (Minyu2Fx) — Sun, 21 Mar 2010 06:44:00 +0000

The pair reach 61.8% retracement of 143.59 to 132.00 at 139.16. It reversed since and made a nice bearish candle on weekly chart. It also break H4 trendline and the pair might continue the down trend. Support levels can be seen around 135.16 first and 133.88 next before testing 132.00. As for risk, I think 38.2 level (136.43).