Having Spoted positive divergence some hours ago, UJ broke my Bollinger Bands and Trendlines for BUY. I took the BUY because of the daily and 4hours BUY pressure and 50-100pips is not bad from the point 85.14 stoploss should be around 84.72
This blog is created to show market analysis based on our Power Trend Strategy. The strategy was designed with intra-day traders and part-time traders in mind. I will do all it takes to make it simple and explicit as possible. PLEASE REVIEW THE FIRST POST (Risk Warning)! Please enjoy. TRADE ALERT HERE: http://bondfx-tradealert.blogspot.com
Wednesday, August 11, 2010
USD/JPY BREAKOUT
Having Spoted positive divergence some hours ago, UJ broke my Bollinger Bands and Trendlines for BUY. I took the BUY because of the daily and 4hours BUY pressure and 50-100pips is not bad from the point 85.14 stoploss should be around 84.72
Tuesday, August 10, 2010
MID-DAY MARKET UPDATE
The market price action may be planning some moves, as i noticed positive divergence on GBPUSD RSI and a bearish channel. To go long I want that channel broken and 4hr BUY pressure to remain.
EURUSD seem to have similar price and oscillator pattern. 4hr buy pressure and My green trendline will make me think of BUY at this time if broken and the BUY pressure still intact.
GBP/JPY, i dont like the pattern this afternoon though can see similar bullish divergence but the sell pressure still in place in the 4hours i have nothing to look at here I will still be waiting, may be for another 4-6 hours to see price action.
Enjoy the rest of your day.
EURUSD seem to have similar price and oscillator pattern. 4hr buy pressure and My green trendline will make me think of BUY at this time if broken and the BUY pressure still intact.
GBP/JPY, i dont like the pattern this afternoon though can see similar bullish divergence but the sell pressure still in place in the 4hours i have nothing to look at here I will still be waiting, may be for another 4-6 hours to see price action.
Enjoy the rest of your day.
GBP/JPY - OVERNITE SETUP
This trade managed from yesterday till date. I noticed a negative divergence on my MACD and RSI with a sell pressure from 4hr. It was a nice dip.
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