Impact of U.S Interest Rate Hike
9 years ago
Saturday, August 30, 2008 h4 chart - at market close overall market sentiment: EXTREMELY BEARISH h4 trendline and weekly 61.80% fibo level converge at 200.00... bears might take a short break and wait a pullback for better discounts... ;) US market close on Monday - market might move slow...... :( UPDATE: market opened at 196.890 (120 pips gap down) at 7 pm, market was at 194.131 (another 270 pips downwards) MORAL OF THE STORY: dont fight the trend... :d Friday, August 29, 2008 daily chart - 5 am Malaysia will 200.00 breaks or not? that's NOT the question.....  the correct question to be asked is...... WHEN it will be broken??   UPDATE: 200.00 psychological level broken price hit 199.00 at 3.30 pm... already locked some profit...  market closed at 198.15 
Thursday, August 28, 2008 h4 chart - 5 am Malaysia another tight ranging day for GBPJPY... (:| last two candles formed tweezer tops and bottoms indication of an imminent BIG QUICK MOVE ...  just be patient and follow the price, ok... ;)  more on tweezer here.... UPDATE : lower yellow line was penetrated at 1 pm Malaysia at 4 pm, price touched 199.785
Wednesday, August 27, 2008 h4 chart - 5 am Malaysia high wave candle followed by doji..... :-? market is indecisive of next move... :-w or should i say... bulls refuse to get in the market... =)) break of either dotted yellow lines should establish next direction...
Tuesday, August 26, 2008 chart h1 - 6 pm Malaysia last week low broken.... will price go lower? :-? UPDATE : at 9 pm, price went down to 200.66 (potential of 100 pips gain)  daily chart - 5 am Malaysia still no bulls in sight....  a long bear candle after the high wave candle indicates bears are in control.... take note that previous support areas are almost breached.. Sunday, August 24, 2008
looks like fundamental analysis will dominate the market tomorrow...... 
Friday, August 22, 2008 h4 chart - 5 pm Malaysia at last.... engulfing bearish candle appears... let see how far the beast will move... UPDATE: at 9 pm, price went up to 203.912 (95 pips drawdown)  will close the the order if it breaks today high (204.580) market closed at 203.920 managed to close +25 pip at 2 pm Monday
 h4 chart - 9 am Malaysia trendline rejection?? dragonfly doji or hanging man candle ?? next bearish candle should confirm southward journey again.....  UPDATE: price went up to test weekly 38.2% fibo level.... see new chart above.. 
Thursday, August 21, 2008 h4 chart - 8 pm Malaysia last week low broken.... would the beast test 161.8% fibo level???  196.xxx on the way???  UPDATE: price failed to make a clean break the daily candle closed at 203.646 
 h1 chart - 5 am Malaysia inverted cup and handle pattern still in play.... slow downward momentum - might be due to the triple swap factor.. expecting the price accelerating down once 204.00 is penetrated GENERAL BIAS : BEARISH UPDATE: at 1.30 pm, price went down to 203.00 (100 pip gain) and still going down...
Wednesday, August 20, 2008 h1 chart - 5 am Malaysia possible inverted cup and handle pattern??? :-? as long as the price stays below the cup base, bear is in control.... Tuesday, August 19, 2008 5 am - Malaysia OVERALL BIAS : BEAR price did not make new high - bull exhaustion?? daily chart - an inside bar?? - indicates that market is in sideway mode h4 chart - rising wedge broken, however momentum is lacking. needs further confirmation Sunday, August 17, 2008 premarket preview monthly chart - bearish engulfing in formation (candle not closed yet) weekly chart - 3 black crows pattern, however long lower wick suggests retracement might occur.. daily chart - possible retracement to 50% (208.20) which also coincides with previous low :-? STRATEGY : stay out of market until retracement completed go SHORT once h4 chart confirms downward movement Friday, August 15, 2008 WARNING: This is not a trade call. This post serves as a record purpose only. Monthly chart just noticed that a bearish flag pattern has burst out... flag is one of most RELIABLE patterns.... usually occurs at mid-point at the move... therefore, 167.xx is a possibility by end of Nov 2008 :-SS Thursday, August 14, 2008 h4 chart - 9 pm Malaysia pullback completed?? :-? spinning top candle?? fibo 38.2% level rejection?? UPDATE: at 8:30 am next morning, price had reached 204.40 (70 pips gain) already locked some profit... B-) GBPJPY analysis - will the downfall continue?? daily chart price is in crucial S/R zone should the support breaks, next TP is 199.xx GBPJPY analysis - sell on rallies........Wednesday, August 13, 2008 chart h1 - 6 pm Malaysia sell on rallies.. B-) \:D/ <:-P hit 161.8% level again... [-o< GBPJPY analysis - monthly low broken....... monthly low broken?? possible TP 203.00 by the month end......?? party time...... \:D/ \:D/ \:D/ SELL ON RALLIES..... <:-P <:-P <:-P UPDATE: 203.00 was hit at 11 pm (less than 24 hours) :-O :-O GBPJPY analysis - sweet 161.8% fibo......... fibo 161.8% level hit again.....
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