GBP/USD Analysis 2011-05-17

GU long term is in bullish channel trendline. Trader may want to make entry according to long term trend.

Trade Idea : As GU touching the Kumo at daily TF, she may wants to make a rebound. Put pending buy order above recent peak at 1H TF or wait GU breaks and above KS at 4H TF. Don't forget to put SL in case GU wants to continue bearish.

Happy trading.

GBP/JPY Analysis 2011-05-17

GJ is in neutral position at long term charts. At 4H chart, GJ still not breaching it previous peak. GJ may continue downtrend if she breaks KS as support line.

Trade Idea: Buy with SL or place buy stop above recent peak at 1H TF with SL below recent bottom.

Happy trading.

GBP/USD Analysis 2011-05-11

New entry for today. GU hit the previous significant Support.

Trade Idea : Put buy limit and SL. Target at recent Resistance.

Updated: Overall chart analysis for reference.

Happy Trading

GBP/USD Analysis 2011-05-09

Refer chart for reference. GU remain mid term bearish.

Crude Oil Weekly Chart.

Trade Idea : As crude oil remain in retracement phase, I believe Pound will follow the crude oil trend.

Happy trading. Wish you lot of profit.

EUR/USD Analysis 2011-05-09

Base on Daily chart, I would like to differ my previous recommendation of EU. Refer chart.

Trade Idea : To those who already took a Short entry, you can put a SL. New recommendation is to put Buy Limit at Support Line + SL at your prefer Money Management (MM) style. Some traders use larger stop loss as their trading account is huge. Larger TF required larger SL. MM will help to success in this business (Old phrase which rarely applied by many Forex traders). :)

Currecy Daily Update 2011-05-09

EUR/USD

Weekly : Bullish + Retracement.
Daily : Bullish + Weak.
4H : Bearish + Strong.
1H : Bearish + Strong, EU just move out from retracement and currently test latest support at 1.4308.  
Trade Idea: Enter short at 1H TF when EU close below 1.4300 with SL at 1.4446. Current price at 1.4324.

GBP/USD

Weekly : Bullish + Retracement
Daily : Bullish + Weak.
4H : Bearish + Strong.
1H : Bearish + Strong. 
Trade Idea : Hold current position for those who short, Trailing Stop (TS) at 1.6395. Not recommend new position until we see next retracement. Current price 1.6317

GBP/JPY

Weekly : Neutral.
Daily : Bullish + Weak.
4H : Bearish + Strong. Retracement almost completed.
1H : Bearish + Retracement completed.  GJ below Kumo.
Trade Idea : Hold short for those who already short. Can short now with SL at 132.40. Current price at 131.53.

USJ/JPY
Weekly : Bearish + Strong.
Daily : Neutral.
4H : Bearish + Weak.
1H : Bullish + Retracement.
Trade Idea : Wait for UJ close above 81.00 for Long entry. Short when UJ close below 80.10. Current price at 80.65.

EUR/JPY
Weekly : Neutral.
Daily : Bullish + Weak. Triangle pattern fail. Price in downtrend channel, near downtrend channel line and near Kumo. EJ may rebound.
4H : Bearish + Strong. EJ in downtrend channel.
1H : Bearish + Strong. EJ retracement completed. 
Trade Idea : Enter short when EJ close below 115.18, SL at 116.50. Current price at 115.46.

Happy trading to all.

GBP/JPY Analysis 2011-05-06

New suggestion for tonight. As the GJ reject the reversal, believe GJ will continue bearish. For those who count the Elliott wave, Wave 5 maybe completed. a-b-c corrective pattern may also completed.

Trade Idea : Enter sell stop with SL. Apply own money management.

Happy trading.