GJ Trader on festival holidays

0 comments Thursday, September 25, 2008

Greetings and best wishes for all muslim traders all over the world on the coming celebration of Eid. May this year's celebration and many years ahead continue to bring us happiness and prosperity. ....

this blog will take a break until end of next week....
see all of you again on Oct 6th, insyaallah......

till then, happy trading and take care... :-h
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GBPJPY analysis - scalped short again... :))

0 comments Wednesday, September 24, 2008

chart 30min - 6.45 pm Malaysia
price was below 30min TL - that's why i stayed out of the upwards breakout
also noticed the triple tops formation
decided to scalp short at 15min chart with 40 pips SL
already at +20 pips [-o<
UPDATE: +75 at 8 pm
set 50 pips trailing stop
and will ride the profit
price went down to 195.64 - potential of 130 pips gain
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GBPJPY analysis - imminent breakout anticipated


daily chart - 5 am Malaysia
market moved in a tight consolidation range for 2nd day...
could breakout in either direction...
even though, looks likely bears have a slight advantage now...
better wait for breakout of yesterday hi-lo... :-?

UPDATE: price trying to test the top resistance...
decided to stay out
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GBPJPY analysis - I went short this morning...

0 comments Tuesday, September 23, 2008

daily and h4 charts - 5 am Malaysia
long legged doji at daily chart? initial signal for reversal??
two black crows at h4 chart??
decided to go short with SL 30 pips above previous high (180pip risk)
p/s tokyo market on holiday today...

UPDATE: as of 11.30 am, price went down 50 pips
already locked +5 pips
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GBPJPY analysis - will the bears come back??

0 comments Friday, September 19, 2008

h1 chart - 6.30 am Malaysia
crucial S/R levels : 192.086 & 189.686
price is overbought zone at h4...
central banks intervention failed to move the market upwards...
stock markets still in trouble...
last two candles indicate bulls exhaustion??
will the bears make a comeback?:-?

UPDATE: price broke resistance 192.086 at 10 am...
hit my SL 19.30...
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GBPJPY analysis - will the trendline hold??

0 comments Thursday, September 18, 2008

h4 chart - 10 am Malaysia
as long as the two trendlines are not broken, downtrend will remain intact...
otherwise, bulls should take over the control... :-?

UPDATE: central banks intervention was the hot news of the day...
price kept testing the trendlines... bulls in control for 3 straight days..
will they keep on pressuring?
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GBPJPY analysis - evening star formation??

0 comments Wednesday, September 17, 2008

chart h4 - 5 pm Malaysia
evening star candle formation???
will price re-test previous low?? :-?

UPDATE: price went down to 186.84 before surged upwards
potential 14o pips gain
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GBPJPY analysis - bearish flag???

0 comments Tuesday, September 16, 2008

chart h1 - 2.45 pm Malaysia
bearish flag pattern..??
possibility 350 pips downwards break... B-)

p/s price already dropped 70 pips...

UPDATE: as 7.30 pm, price touched 184.50
potential 250 pip gain
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GBPJPY analysis - pre-market overview

0 comments Sunday, September 14, 2008

market closing
a low reliablity hammer variance at weekly chart - still need confirmation
bullish trend should only be confirmed when previous high (195.645) is pierced
and price might surge to 206.xx 
click here on how to trade double bottom like a pro... B-)

until the resistance is broken, my sentiment is still BEARISH :-B
should i go short, 195.645 should be my stop loss

UPDATE : market gapped down about 180 pips 
at 4.15 pm, the price low is at 188.778
already banked in some pips... :D
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GBPJPY analysis - still bearish...

0 comments Friday, September 12, 2008

chart 30 min - 6.30 am Malaysia
main trendline = DOWN...
minor trendline = DOWN...
price FAILED to break minor trendline & yesterday high...
187.80 - previously a support - now should turns to be a resistance...
should i say anymore...? @-)

UPDATE: price surged upwards to 193.697
moral of the story: you can't win all of them
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GBPJPY analysis - descending triangle in play??

0 comments Thursday, September 11, 2008

chart 30 min - 6.30 am Malaysia
descending triangle in play??
usually a trend continuation pattern...
should price breaks downwards, it could dive 320 pips below 187.80...:-?
UPDATE: 187.80 broken at 4 pm... hit 186.50 and still going down...
already locked some profit
as of 1.30 am, lowest price was at 185.87 (potential 180 pips gain)
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GBPJPY analysis - falling three method

1 comments Wednesday, September 10, 2008

h4 chart - 4.30 am Malaysia
another 1/2 an hour for the candle closing...
falling three method in formation...
strong bearish trend continuation pattern...
1st TP - friday low... duit
UPDATE: managed to close at +60 pips at 8.15 pm
after suffering 220 pips drawdown #:-S
seems bulls are now trying to wrestle the control.... :-?
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GBPJPY analysis - critical S/R levels.....

1 comments Tuesday, September 9, 2008

daily chart - 5 am Malaysia
expecting price to keep ranging within these two S/R levels...
a breakout of 193.60 or 188.50 will determine next direction...
meanwhile.... bears still in charge... 
there are still plenty of salmons for the bears down there.. :d
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GBPJPY analysis - post-market preview...

0 comments Saturday, September 6, 2008

market close - 5 am Malaysia
daily chart -hammer candlestick??
  • price upsurged during last hours in thin volume trading...
  • retracement or profit-taking activities or stop hunting...?? :-?
  • still needs further confirmation...
h4 chart
bulls will have to penetrate either resistance @193.60 or the yellow trendline...
however, the red trendline @191.00 needs to be broken first...
otherwise, bears still in control... 
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no trading day - got to go to the bank...

3 comments Friday, September 5, 2008

this week performance....
will take the day off....
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GBPJPY analysis -descending triangle???

0 comments Thursday, September 4, 2008

chart 15 min - 9 am Malaysia
descending triangle formation...
usually a bearish pattern...
expecting 130 pips drop should the support broken... :D
read more about triangle here
UPDATE: price dropped to 191.445 (40 pips potential gain)
London open pushed the price upward...
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GBPJPY analysis - 191.20 next???

0 comments Wednesday, September 3, 2008

h1 chart - 11 pm Malaysia
upper trendline rejection??
engulfing bearish candle??
should yesterday low broken, price might hit 191.20 celebrate
UPDATE: price went down 70 pips to 191.91 before retracing upwards...
triple swap effect might be in play....:-??
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GBPJPY analysis - a clearer view of next direction.....


chart h1 - 8.30 am Malaysia
watch out the h1 trendline and yesterday low....
next direction should be clearer....
UPDATE: 4.15 pm - unbelievable..... price broke yesterday low
already locked some profit....doa stopped out by news tension
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GBPJPY analysis - watch out for breakout...


chart h4 - 5 am Malaysia
watch out for bulls coming in to fill the gap....
yesterday high low serves as a good S/R level.....
and bears should be hiding somewhere up there.......duit
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GBPJPY analysis - crazy market ....

0 comments Tuesday, September 2, 2008
what a crazy market .... gile
will stay out until the dust settles....babai
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