Posts

My New Site On Trading

As mentioned in my previous post, I won’t write too much about investing or trading in this blog. Instead, I have created a new site dedicated on currency trading (forex) – http://www.fxblackboard.com

This new fx site will be the place where I post my analysis, my views and the way I trade. The site is still “work in progress” and I will be adding more stuffs in the future such as trading articles, tutorials etc (if I can really sit down and pen my thoughts – I can’t write well! LOL) Right more, it’s more focused on my analysis on different currency pairs. In a way, it’s also like a trading diary to me, helping me to keep track and re-visit some of these trades or setups in the future.

It is a “hobby” site at this point in time. I am just passionate in trading… that’s all. I really want to create a site that can provide value and knowledge to other traders, especially newbies. There are just too many hyped-up nonsensical forex products out there in the market. You know… those “Make $20, 586 in 7 days Trading Forex With This Breakthrough System”. You get the idea. 99% of them are just pure marketers, i.e. they are not traders. They are just out to sell you and scam the hell out of your money.

Trading IS tough. If it is so easy, every Tom, Dick and Harry will be making obscene money and relaxing at the beach all day long. Isn’t it?

Anyway, if you happened to read my posts in my fx site, do support it by “liking” my posts or via other social media platforms, or you could just tell your friends who are interested in trading verbally, old-school style. 🙂

AUDCHF Uptrend Fizzles Out?

After a spectacular rally for the past few months, it seems that the upward move of AUDCHF is exhausted.

There is a classical double top being formed. It is not forming a higher high and the 8/21 EMA is heading down and crossing soon.

The inside bar set-up with a pin bar is the type I like best. After a bearish downward move, it tries to go back up but failed eventually thus having a upper shadow, which formed a pin bar. The price action is telling me that it is rejecting higher price.

One could enter a short position upon breaking the low of the mother bar.

The support is at around 0.9940. We will see if it will reach that support area.

audchf

Excellent Trading Opportunities – No Fanciful Indicators

A picture speaks a thousand words.

Below is the daily chart of EUR/GBP.

I don’t use indicators to determine whether to enter a position. 100% depends on what the price is telling me. I am not saying you can’t use indicators or they are no good. Indicators just act as a “reference” for me. Price action is still #1.

eurgbp
(click on chart for a bigger view)