28 Nov 2007

1. Current Open positions:
Long 2.0730, TP 2.0845 (papaer loss)
Short 2.0400 TP 2.0292 (paper loss)
Short 2.0710, TP altered to 2.0565 (paper gain)

2. Yesterday (27 Nov) activites:
Long 2.6450, TP 2.0700 (filled and close)
Short 2.0710, TP 2.0630

3. Today play:
Long 2.0550, TP 2.0660

4. Personal Expectation:
GBP was strongly resisted at 2.0760. WMA5 has been trying to clear this line and has been hover around EMA21 and EMA55 on the daily chart. From the hour chart, should GBP break EMA200, the next support line it will go is 2.0550. I am expecting a rebound at 2.0550 for GBP to attempt the resisted line again. Alternatively, a breakout north is of good potential - watch out for the CCI rebounding off the BB 2nd line.

26 Nov 2007

1. Current opwn positions:
Long at 2.0730 (Paper loss)
Short at 2.0400 (paper loss)

Long position at 2.0680 close at TP =2.0750 (profit)

2. Position to play today:
Short 2.0590, TP at 2.0530

22 Nov 2007

1. Current position
Long at 2.0730 (Paper loss)
Short at 2.0400 (paper loss, intent to cut loss)
Long position at 2.0520 close position with TP triggeres at 2.0650.

2. Position to play today:
I will have to hold my positions.
A good rebound, should it occur is at 2.0570. Else a breakout north is at 2.0700, while a break down at 2.0520.

21 Nov 2007

1. Current position
Long at 2.0730 (Paper loss)
Short at 2.0400 (paper loss, intent to cut loss, but miss the point)

Long position at 2.0520 close position with TP triggeres at 2.0650.

2. Position to play today:
Long 2.0680, TP at 2.0750

3. Personal expectation:
A rebound south is possible as CCI did not go into a oversold and EMA21 may reverse. I will place this at 2.0520. But of course, the chances for the GBP to go up is strong with a good resistance line at 2.0750 and 2.0850.

Of course, since it it is too much to abandon my short position, but I will watch it today (miss it yesterday to close it) to minimize loss.

20 Nov 2007

1. Current Positions:
Long at 2.0730, paper loss.
Long at 2.0520, paper loss, TP altered to 2.0650
Short at 2.0400, paper loss

2. Position to open today:
I will not be opening any position today.
I have 3 transaction still open.

3. Personal Expectation:
I will watch closely tonight before FOMC to make my decision to close the short position. I believe, should a uptrend occur, it will be going to be a long and big one. But of course, some form of consolidation will come first. Support 2.0400 and resistance at 2.0570

19 Nov 2007

1. Current Positions:
Long at 2.0730, paper loss
Long at 2.0520, paper gain, TP altered to 2.0650
Short at 2.0400, paper loss

2. Position to open today.
I will not be opening any position today. I have 3 transaction still open.

3. Personal Expectation:
To watch how EMA5 on the daily chart perform today. May have to abandon short position, should EMA5 sailed pass EMA55 and head close to EMA21. GBP has always a better state to strengthen against the dollars, as Fed may not necessary raise interest rate this time round. The last time when Fed cut interest rate, the dollar strengthen.

Support line at 2.0400 and resistance line at 2.0680

Nov Monthly Report

My November trading ends on 16 Nov. Again, the results sailed passed 20% and despite the absence from 28 to 3 Nov, ROI was more than 50%. Forget about counting pips - I did not really count them.

I made some changes to the rules of money management - use up to only 50% of trading capital.

December trading will start next Monday, and will end on 21 Dec. Target set at 30% ROI.

16 Nov 2007

1. Current position: Long at 2.0730 (paper losses)
Position short at 2.0550 filled and close trade at 2.0440

2. Today position:
I will place a limit short order at 2.0400, TP at 2.0235
I will too place a limit long order at 2.0520, TP at 2.0570

3. Personal Expectation: CCI should go into oversold state, thereby saying that GBP will move south towards EMA200 at 2.0230. It has been some time for a GBP reversal to hit the daily EMA200. But do watch out that should the WMA5 rebounded off EMA55 from the daily chart, a reversal sonner than expected could happen.

15 Nov 2007

1. Current position:
Long at 2.0730 (catches it at the wrong time and now paper losses)
Position short at 2.0700 triggered TP at 2.0570.
Position short at 2.0820 filled and triggered TP at 2.0700

2. Open position:
I have placed short at 2.0550, TP at 2.0375
No long position as I expect should a break north occur it would be at 2.0650, which is compensated by my exisiting long at 2.0730 (80 pips less).

3. Personal expectation:
I believed GBP will continue to move down to give CCI a oversold state. On the contrary, as 2.0600 and EMA55 (1 day) form a strong support line, know when to abandon short position should GBP rebound and break north. I will put the first support at 2.0430 and the second at 2.0220. Resistance at 20650 and 2.0760

14 Nov 2007

1. Current Positions:
At present, I have 1 position short at 2.0700, which is takeing paper losses.

2. Open Positions:
I have placed long at 2.0865, TP 2.0945 and long at 2.0730, TP at 2.840

I have too placed short at 2.0820, TP at 2.0700

3. Personal Expectations: GBP continue to move north towards EMA200 (1 hour chart) at 2.0820. A reversal may take place should WMA5 punch through EMA200 at 2.0860, else a reversal may take place and that will nicely form the C-wave reaching to EMA55 (1 day chart) aor even EMA100 (1 day chart) at 2.0450