Impact of U.S Interest Rate Hike
10 years ago
143.00 on the way???Friday, September 25, 2009The beast has now closed slightly below the previous support and made a new low. A slight retracement upwards is due at lower TFs; however, the market sentiment is now favors the bears' camp and the pair should touch 143.00 soon. I have already covered my profit and will accept whatever the market gives..... Below is the daily chart at the New York closing with some insight on the future moves (which might be wrong... LOL)  UPDATE: The market closed at 142.96. A new low was made at 142.73.... will the support be broken??Thursday, September 24, 2009The double top pattern that was mentioned on my previous post is now developing nicely. As of the beginning of New York session today, the beast has already penetrated the previous support at 146.74. The price still need to CLOSE below the support significantly before the bears could claim full control. Remember.... a pattern is NOT a pattern until it is completed. Below is the daily chart as of 8 pm Malaysia today. 
possible double top???Friday, September 18, 2009A possible double top pattern is developing on the daily chart. This pattern should be validated if the support at 149.7x is broken significantly. Even though a slight pullback is possible, I am anticipating that the beast will dive to 136.xx area within a couple weeks. Let's see how the beast play it out.....  traveling....Wednesday, July 29, 2009Some personal commitments tied me up from updating this blog during the past couple weeks. I had also switched to long term trading as I am not able to stay in front of computer as before. Furthermore, this evening I have to travel for more than a month and might not be able to look to the screen for days..... However, a bearish candle should formed on the monthly chart which might indicate that the bullish rally from the start of the year is merely a correction; and the beast should resume the southwards journey. Hopefully I will be back in October 2009. Till then, take care and trade wisely....   bearish flag???Friday, July 10, 2009A lower high on the H4 chart has developed a bearish flag pattern ; a possible indication that the train might continue south-bound journey. The beast needs to penetrate the previous low, in order to reach 143.xx. Meanwhile, my strategy of selling on rallies worked out well so far and all profits have been protected. Below is the H4 chart as of 9 pm Malaysia. 
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