18th June-22nd June 2007: Trades & Commentaries

My current positions:

1. buy cadchf o:1.1594 sl:1.1485
2. sell eurusd o:1.3416 sl:1.3478
3. sell gbpusd o:1.9846 sl:1.9916
4. buy usdchf o:1.2415 sl:1.2274

I think the major trend change is taking place now. On fundamental basis, I think everybody want to cut interest rate now based on the inflation conditions. Technically, all the major currencies look like topping/bottoming out. I'm not quite sure about this, but let us see how the market will answer to the question. The dollar also has looks like has turned bullish.

WAllahuallam. Day by day, I am a more successful, more disciplined, smarter and better trader insyaAllah.

11th June-15th June 2007: Trades & Commentaries

I traded some positions this week. Currently has closed all of them, one of them have been stopped out:

1. buy gbpusd o:1.9674 sl:1.9661 c:1.9740, 66 pips
2. sell usdchf o:1.2374 sl:1.2412 c:1.2412, -38 pips
3. buy gbpusd o:1.9716 sl:1.9661 c:1.9740, 24 pips
4. sell usdjpy o:121.71 sl:122.09 c:121.67, 4 pips
5. sell eurjpy o:162.46 sl:162.87 c:161.73, 73 pips

Total: 129 pips

The dollar rise last week because of the bond yield been pushed to 5-years peak. I don't know how long it will continue, but at the moment the dollar index is consolidating at 82 - 83 level (refer the dollar index chart below). There is strong resistance at 83.42 level, so far it cannot breach the resistance. The dollar index also should have already test the trend line, I guess. Heavy news on US market on Thursday and Friday, so better be careful.

Other news that could turned the market are the interest rate statement for CHF and Yen on Thursday and Friday. I don't like trading at that time. I either continue trading for this week or I can just to stop here. I'm still watching.

WAllahuallam. InsyaAllah I am a more successful, disciplined, smarter and better trader day by day.

4th June-8th June 2007: Trades & Commentaries

Open these positions based on the dollar analysis I posted on this blog before this post:

1. buy gbpusd o:1.9845 c:1.9922, 77 pips
2. sell usdchf o:1.2290 c:1.2227, 63 pips
3. buy gbpusd o:1.9872 c:1.9922, 50 pips
4. buy gbpusd o:1.9920 c:1.9922, 2 pips

Total pips for today: 192 pips

No SLs because i've been checking them from time to time. I have to close all of them so that I can concentrate on studying for my amateur radio examination the day after tomorrow. I haven't even read their notes yet. Oh....

Need to study, will trade later after the examination depending on the market condition or else.

WAllahuallam. Day by day I am a more disciplined, successful, better and smarter trader, insyaAllah.

Dollar Technical Analysis: 3rd June 07

The dollar looks to go down again to me.

Weekly chart:

Support has turned into resistance. WAllahuallam.

Day by day I am a more successful, disciplined, smarter and better trader, insyaAllah.

28th May-1st June 2007: Trades & Commentaries

I feel quite nervous when opening my positions, maybe because of I have not trading for a while. My current positions:

1. sell eurusd o:1.3454 sl:1.3487
2. sell gbpusd o:1.9842 sl:1.9909
3. buy usdchf o:1.2271 sl:1.2217
4. buy usdjpy o:121.65 sl:121.35

All positions are trend following. Yen position is quite tricky, but i think 161.60 support will hold it. Another possible trade is to buy usdcad, which is against the trend, the risk is higher. I will be watching how it goes. Today is holiday in UK and US, maybe my positions will start to develop tomorrow. WAllahuallam.

Day by day, I am a better, more successful, disciplined and smarter trader, insyaAllah.