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.

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.