Impact of U.S Interest Rate Hike
10 years ago
Sunday, November 30, 2008 chart h4 - at market close the beast entraps within 300 pips consolidation phase the bulls and the bears agree - at least temporarily - on the beast's price level a imminent breakout could happen in either direction to guard against a false breakout, place a stop:
UPDATE:  chart h1 - 5 pm Malaysia went short earlier at 146.00 when the yellow trendline was broken price is now testing the lower BLUE trendline already closed 1/2 lot (+200 pips) and moved SL to +50 for the remaining 1/2 lot... will ride the profit 6.40 pm: +500 pips, SL moved to +100 10:30 pm: added another short at 140.56 - now +57 and +600 1.30 am: partial closed 2nd order at +200 expecting price to hit 134.xx soon [-o< Thursday, November 27, 2008
no trading today....
US is celebrating Thanksgiving... expecting thin trading volume but could also be very volatile.. remember what happened last year Thanksgiving.. :-ss Wednesday, November 26, 2008 daily chart - 6 am Malaysia price bounced off minor trendline??? dragonfly candle?? explanation from http://candlesticker.com The market is in a bullish mood characterized by an uptrend. Then we see a price action characterized by a sharp sell off when it opens. Prices move down going much lower than the opening price. Then we see a rally in the closing hours of the day, which closes the day at or very near the opening price. However this end-of- day rally signifies the potential for further sell offs. The long lower shadow shows how the market started the day with a sell off. If the market opens lower the next day, we may see a lot of longs eager to sell their positions. UPDATE: this is a swing trade... let see how far the beast will drop... :D 8.30 am: +180 pips, SL moved to +10 9.30 am: +140 pips 12.05 pm: +192 pips 5.30 pm: +110 pips, SL moved to +50 7.30 pm: +204 pips 9.00 pm: +238 pips woke up next morning - SL hit... at least, i'm richer by 50 pips :-" Tuesday, November 25, 2008 chart h1 - 7 am Malaysia major trendline broken?? :-? needs to break 148.00 for trend reversal confirmation... otherwise, market will consolidate within 144.xx - 147.xx range my sell position is already +50 TP:144.20 SL moved to +1 UPDATE: 9.30 am - SL moved to +100 10.30 am - stopped out at 100 pips [-o< 11.00 am - short again at 146.43 - already +30 12.45 pm - decided to bank-in 85 pips ;) Monday, November 24, 2008 chart 30 min - 7.30 am Malaysia went short at 143.38 minor trendline rejection??? S/R zone at 143.50 area...??? a risky trade but one which allows a tight SL (50 pips at 143.88) let's see how market plays it out :-SS UPDATE: by 8.00 am, price went down to 142.70 (+60 pips) moved SL to +1 8.15 am - moved SL to +50 and set trailing stop of 70 pips 10.35 am - stopped out at 110 pips [-o<
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