GBPJPY analysis - long-legged doji

0 comments Saturday, May 30, 2009


daily chart at market closing

A long legged doji has formed on the daily chart - an indication that the bulls might need to take some rest.

As long as the price do not breach Friday's high (155.73), this candlestick might signals a downward move to test the lower trendline (approximately at 148.xx).

Good luck and have a happy weekend.

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GBPJPY analysis - my 1st post this week

0 comments Tuesday, May 26, 2009


h1 chart as of 9 am Malaysia

Stayed out the whole day yesterday due to the Memorial Day. Price closed slightly below the confluence of the lower trendline and the 50% fib retracement level of yesterday hi lo.

Went short at 150.55 with 1st TP at yesterday low (149.80).

Hopefully, North Korea would not launch any missile today. Otherwise, the bears will be in trouble again.... 
UPDATE:
 10.30 am - price went down to 150.14, then went up
            managed to close with a small profit
            will look for another sell position
  6.00 pm - was away from chart
            crazy price action, really a roller coaster ride
            at least, TP (yesterday low) was hit

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Is that a dragonfly doji???

0 comments Friday, May 22, 2009


daily chart as of 5 am Malaysia

A variation of a dragonfly doji has formed on the daily chart. Let's see how the market play it out.

Please use a small sized position and do not risk more than 2% of your equity.

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GBPJPY analysis - last week's low breached???

2 comments Monday, May 18, 2009


chart h4 as of 10 am Malaysia

The price has already breached last week's low. Should the bears keep persisting, my target projection will be 141.80 (161.8% fib retracement level of Friday hi-lo).

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GBPJPY analysis - will the bears return.....???

0 comments Saturday, May 16, 2009


weekly and daily at market closing

A bearish candle on the weekly chart indicates that the bears might return next week. A penetration of the daily lower trendline at the proximity of 143.00 should bring the price down to test the neckline of the possible double top pattern.

Should the price breaks the double top neckline at 139.00, the beast could dive 1,180 pips and hit 127.xx by the end of May.....

Good luck and happy trading...

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