Traderswin-Forex

Missed trade- GBPUSD daily

noreply@blogger.com (Traderswin- trading Mushu) — Sat, 22 Apr 2006 18:08:27 PDT

I have missed the entry opportunity of GBPUSD. It seems to be broken out from downtrend line closed above my entry line. GBPUSD daily closed above 18-day SMA and 10-day EMA crossed above 30-day EMA as well.

EUR/USD : Heading south

noreply@blogger.com (Traderswin- trading Mushu) — Sat, 01 Apr 2006 17:12:38 PST

I have decided to have a look of EUR/USD pair. This is weeky of the pair. Current downtrend which was started around May 2005 when greenback got stronger still exists. And there's no clear sign of trend reversal yet.

Take a closer look at daily channel. A downtrend channel can be formed. And currently it is testing the upper channel band. I see the resistance is around 1.2206 which was previous high.

Another view of daily chart. Support seems to be around 1.1752.

Since there is no clear signal the existing downtrend is broken, I would prefer to wait for the entry setup to form and establish my short position.

Have a profitable week ahead.
Traderswin

(The trading Mushu)

AUD/USD view. No proof for bull, ..yet.

noreply@blogger.com (Traderswin- trading Mushu) — Fri, 31 Mar 2006 18:03:35 PST

Although weekly chart has less impact on trading purposes, I read it for to the sake of getting a big picture of market direction. Uptrend of Aussie seems to be weaken after mid september 2005 and subsequently, it is indeed heading south. Look at the red arrow I have added into the chart, Aussie seems to have broken the support.

This is daily chart. A downtrend channel was formed recently be lower highs and lower lows. Guess what, the channel is still valid. Kangaroo needs more food to jump out from this trap. Immediate resistance seems to be around 0.7256 for AUD/USD.

Speculatively, there might be some chance to expect a 'pull up'. I would rather sit back and watch. Short side looks more promising to me for the time being.

Have a profitable week ahead.
Traderswin

(The trading Mushu)

Dollar shows strength : Long USD/CHF

noreply@blogger.com (Traderswin- trading Mushu) — Tue, 21 Mar 2006 16:42:28 PST

This is 1-hour chart of USD/CHF as at 22-Mar-2006 11:00 GMT. Long position was established at 1.2995 (21-Mar-2006, 15:00 GMT) with first target 1.3034 and second at 1.3071. First target was hit with 39 pips profit.

Traderswin

(The trading Mushu)

USD/JPY : short position 1-hr chart

noreply@blogger.com (Traderswin- trading Mushu) — Fri, 17 Mar 2006 06:04:23 PST

[Update 17-Mar-2006 GMT 13] Half of short position closed at 115.96 to protect profit. Trailing stop has been moved to 116.15.

[Update 17-Mar-2006 GMT 04am]
USD/JPY closed below my planned entry and position opened at 117.13 and downtrend continues in 1-hour chart. Initial stop loss was 117.87, and it has been trailed to 117.07 to protect profit. First profit target is set at 116.26.

Traderswin

Original post on 16-Mar-2006 GMT 04am

USD/JPY 1-hour chart GMT 05am

From 1-hour chart, if USD/JPY failed to closed above recent high of 117.87, I am looking at possible short position when it closed below 117.43. With wide separation of long term EMAs (green lines) and compressed short term EMAs(red and blue lines), I am only looking at short position for now. This trade is based on 1-hour chart.

Traderswin.

Short AUD/USD

noreply@blogger.com (Traderswin- trading Mushu) — Mon, 13 Mar 2006 23:15:53 PST

This is the daily chart of AUD/USD as at 13 Mar 2006 3pm GMT.
After AUD/USD closed below 0.7361, I am only looking at short position for Aussie.
Stop loss is set at 0.7405.

Traderswin

Long USDCHF for 13 Mar 2006

noreply@blogger.com (Traderswin- trading Mushu) — Mon, 13 Mar 2006 21:55:44 PST

I am looking at long position when USD/CHF is swing up and closed above 3137. Underlying uptrend is still holding strong as shown by long term GMMA. Smart money seems to be buying in green back. Stop loss is set at 2976 by close price.

Traderswin

GBP/USD Short Entry

noreply@blogger.com (Traderswin- trading Mushu) — Mon, 13 Mar 2006 21:51:23 PST

This is a daily chart of GBP/USD captured on 13-Mar-2006 3pm GMT.
Downtrend started on 10 Feb 2006. On 7-March-2006, it closed below CBL entry line 7375.
With long term GMMA well separated and short term GMMA started ticking, these provide us setup for Short position. Stop loss is set at 7624.

Traderswin

Traderswin Forex journal launched

noreply@blogger.com (Traderswin- trading Mushu) — Mon, 13 Mar 2006 22:21:38 PST

This blog is launched to keep my forex trading journal.
All analysis are based on daily chart.

See you soon.

Traderswin