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dragon1's Blog
Is EUR/JPY a good long bet?
My answer to the title question is a resounding YES! Let me count the ways.
1. After more than one month's good work, it climbed 600 pips to 128.00. The path has been direct and simple with a perfect trend line. Currently it is having a correction but rebounding right from the same trend line.
2. The V-shaped bottom area ABC (see chart below) constitutes a very solid support to withstand the current tumultuous market, and sustain a steady rally.
3. With a little imagination, once the current reb…
1. After more than one month's good work, it climbed 600 pips to 128.00. The path has been direct and simple with a perfect trend line. Currently it is having a correction but rebounding right from the same trend line.
2. The V-shaped bottom area ABC (see chart below) constitutes a very solid support to withstand the current tumultuous market, and sustain a steady rally.
3. With a little imagination, once the current reb…
Pound sterling will not collapse
I was bullish on Euro. However, the price is dauntingly high at the moment. Chasing exteme beauties is not my cup of tea. Therefore, I needed to find some pair that runs generally in sympathy with Euro but not over-bought like Euro. Pound sterling looks like an ideal candidate!
Prior to the nonFarm news, GBP/USD had been wobbling precariously on top for a while and then sliding steadily down, to the point of breaking down. After the nonFarm news further hammered it down some more, I decided it w…
Prior to the nonFarm news, GBP/USD had been wobbling precariously on top for a while and then sliding steadily down, to the point of breaking down. After the nonFarm news further hammered it down some more, I decided it w…
EURo looks bullish
Ahh, another beginning. I am refreshed!
To prepare for the month, let's first take a look at Euro with a slightly longer term view. Euro
has been advancing fiercely for some time. Just a short time ago it penetrated previous high.
Currently it lies in line with a few heads in the past. Trend is firmly bullish! Most likely it
will break out to a new high, thus pave the way for a more sustained rally. I am prepared for it!
The weekly chart below illustrate the current state, and some resistance le…
To prepare for the month, let's first take a look at Euro with a slightly longer term view. Euro
has been advancing fiercely for some time. Just a short time ago it penetrated previous high.
Currently it lies in line with a few heads in the past. Trend is firmly bullish! Most likely it
will break out to a new high, thus pave the way for a more sustained rally. I am prepared for it!
The weekly chart below illustrate the current state, and some resistance le…
Mysterious Force
I am always puzzled. Why do I always get stopped out at the right point of reversal? So precise that somebody else could even use it for a trading signal!
I entered a long position GBP/JPY yesterday, believing its eventual rise to stardom. However, the hand of market had been relentless, shaking up and down like crazy. Its sole purpose seemed to yank me out of the race.
This morning when I woke up, and looked my cell phone, wow, GBP/JPY had been rising steadily to a break-out! I felt so much joy…
I entered a long position GBP/JPY yesterday, believing its eventual rise to stardom. However, the hand of market had been relentless, shaking up and down like crazy. Its sole purpose seemed to yank me out of the race.
This morning when I woke up, and looked my cell phone, wow, GBP/JPY had been rising steadily to a break-out! I felt so much joy…
You can call me a masochist !
My days are done. The market has been excitingly horrendous. But what should I do with the money I still left? Use it, of course!
The way I throw in the towel is this: I simply short the bull and long the bear, and then I close my eyes praying the God for the luck!
Certainly, it could inflict mucho pain on me. Yes, I would take it. I'm becoming a masochist! What have I got to lose?
Ok, the answer is announced: I am shorting Euro/USD (at B), long USD/JPY (at D), and also long USD/CAD! With this I…
The way I throw in the towel is this: I simply short the bull and long the bear, and then I close my eyes praying the God for the luck!
Certainly, it could inflict mucho pain on me. Yes, I would take it. I'm becoming a masochist! What have I got to lose?
Ok, the answer is announced: I am shorting Euro/USD (at B), long USD/JPY (at D), and also long USD/CAD! With this I…
EURo starts to flex its muscle
Euro has been sickish for a while, unable to break through the top downward correction line. However, the trend looks unmistakably upward. I gingerly took a long Euro position last night, just in case that it suddenly shot up and I might be deep in sleep.
Well, it proved a test of endurance for me. I kept envisioning the volatile shake when today's FOMC announcement comes. And I imagined Euro to briefly dip, scaring off the weak hands, then violently shoot up -- I have always been an optimist!
A…
Well, it proved a test of endurance for me. I kept envisioning the volatile shake when today's FOMC announcement comes. And I imagined Euro to briefly dip, scaring off the weak hands, then violently shoot up -- I have always been an optimist!
A…
EURo shows sign of life
Euro so far had been pulling back in a steady way, following a conventional ABCD pattern.Currently, it has managed to rebound from a support. Ever since more than 10 hours ago, it has been steadily climbing up. A pike test down 2 hours ago added some fuel to the little rally.
GBP is not as bullish. However, it has also rebounded a little from a support. It is hopeful that it may show some sign in time to confirm its rebound. Currently it remains uncertain as to whether it would continue falling.
GBP is not as bullish. However, it has also rebounded a little from a support. It is hopeful that it may show some sign in time to confirm its rebound. Currently it remains uncertain as to whether it would continue falling.
The Siege of Leningrad
The siege of Leningrad lasted almost two and one-half years and cost the lives of an estimated 1,000,000 city residents. Hunger and cold became the city's greatest enemies. But int he end, the Red Army had pushed the German army beyond Leningrad allowing the city to celebrate the end of its siege. This is what I imagined for the situation I got myself into! Ha ha ...
The week started well with my Euro-related family of cross pairs. With excitement I dived right in and took up long positions of E…
The week started well with my Euro-related family of cross pairs. With excitement I dived right in and took up long positions of E…
EURo, Euro, you rock!
By now, it is clear that Euro is on a confirmed bullish track, although it may still take some digesting to fully absorb the over-heat before making another leg up. Therefore, simply watching Euro for long trading opportunities, either for scalp or swing, may already get you some nice profit.
In addition, I have noticed that those Euro-related cross pairs also start to show potential for a bullish move. In particular, I'd like to mention EUR/CAD, EUR/AUD and EUR/NZD, besides EUR/JPY which is alr…
In addition, I have noticed that those Euro-related cross pairs also start to show potential for a bullish move. In particular, I'd like to mention EUR/CAD, EUR/AUD and EUR/NZD, besides EUR/JPY which is alr…