Friday, May 28, 2010

Very Accurate Price Action Predicition



as i said ,, i can post some charts here but not trade every move in them but others might use it at there own risk
check the 2 charts ,, very ACCURATE predicition ,,, a move down to 82 and it happened exactly at 82 , then a move up to 8560-70 and it went 10 pips awaye from there before reversing , i wish i had traded the long better than waiting for the shorts , but i learned the lesson

Trade in play




finally the s&p 500 gave me that sell signal i was waiting for ,, i was a bit cautious as its friday and month ending day but i cant let this trade go , the s&p 500 broke down from the 1090 support line and showed weakness to the downside just a bit shy from the resistance zone i shown in older charts , i took this sign as a go on that hedge closing and adding short on the AUD , maybe 100 pips from the top but IT WAS A STRONG MOVE UP AND WE NEEDED BIG EVIDENCE ON TREND WEAKNESS , so i didnt try to catch the top althought if i didnt short half position i woul dhave went short right at that 8550 level which is the far top cause as i said before , 8560 is a big resistance and i shown that in previous charts , but anyways , i m setting the stop loss on the top of that ret. at 8550 , with targets at yearly low as first target
im seeing a potential for a small bounce up as the down trend will find support of the area from 8410-8380 , but the bounce should be limited to 85 , just in case anyone might wanna jump into the trade
Happy weekend everyone
Closing hedge shorting second half of AUD/USD , stops at 8570 for the hole position

S&P 500 looks tired

S&p looks bit tired today , i m watching if it could break the 1090 level that supported it good before

Stay alerted on possible position adjustment

I hate to do that on fridays but i think i ll have to , stay alerted , will post prossibly position adjustments and charts to follow when i make sure of it

Thursday, May 27, 2010

Trade Update and guide lines



good morning traders ,, i m here to explain some guide lines for the current trade ,, what happened yesterday ,, i alerted everyone of possible position update but i didnt take any action rather than moving the Hedge stop to break event ,, i was watching and expecting the AUD to test the resistance zone between 8450-8570 and at the same time to find the S&P 500 testing the resistance area shown on the chart between 1107-1122 and try to search for the proper wave ending signal there to close the hedge and add short and let the trade work ,, but ,, i found the AUD/USD tanking higher and breaking to new highs from yesterdays high , while the s&p was hardly moving and consoildating at the 1090 line , awaye from my resistance zone and not showing a sign of toping , so althought the AUD sounded like a good short at this levels but due to the high CORRELATION between the Rish and specially the AUD and the stock market ,, i cant call an AUD top without seeing the same signal from the S&P 500
i m expecting more move up on the s&p 500 tomorrow to get into the resistance zone on the chart that it closed so shy from it , then i ll be looking to find the AUD /USD on the same resistance zone shown on the chart or maybe lower to confirm a GOOD SHORTING SETUP , what we have to do in every trade is be patient and make the best analysis and setup and then let it work , if it goes in the different direction then we should try to minimize the lose .
i m seeing a turn in the AUD/USD that i m watching very closely and observing the waves to see if its impulsive down or it would try another wave up to match the s&p 500 before down ,,, a scenario i m considering is that the move down in the AUD/USD is the start of wave 5 down and it ll try to correct up a little without making a new high when the s&p 500 try to find a top at the resistance zone and then they will go down together , in other words , it might be an early signal from the AUD FOR TOMORROWS ACTION

ANYWAYS ,, PLEASE TAKE TIME TO READ ALL MY WRITTEN ANALYSIS AND NOT ONLY LOOK AT THE CHARTS ,, CAUSE I READ IN A COMMENT THAT SOMEONE TOOK SHORT AT 8450 REGARDLESS MY COMMENT ON THE CHART THAT I LL WATCH THE PRICE ACTION ASIDE WITH THE EQUITY MARKET TO DECIDE IF THIS CHART WILL WORK OUT AS THE BEST SHORT OR THE OTHER LEVEL SHOWN AT THE ORIGNIAL TRADE CHART , SO PLEASE TAKE TIME TO READ THE ANALYSIS ,, IT LL DEVELOPE UR ANALYSIS SKILLS AND KNOWLEDGE BY TIME

last thing , i wont answer any questions or reply on any comment from anyone who didnt register to follow the blog
but i welcome any comment from the followers and i never leave a comment with no reply
love to share a side talk with u guys

Update coming up after few hours

Update coming out after few hours , i noticed someone said he shorted of 8450 , well i didnt confirm this short , i said I LL BE WATCHING THE S&P 500 AND ITS REACTION WITH LEVELS I MENTIONED IN EARLIER CHARTS BEFORE TAKING ANY DECISIONS , and i will explain in my charts today why i holded the short and levels to watch

Hedge closing orders

I m moving the stop on the hedge to the break event ,, so if the AUD / USD comes to the break point back to 83 , then close the hedge with 0 profit or loss ,, just wanna protect the trade ,,, i m seeing a big resistance on 8450 on the AUD/USD but the s&p 500 didnt break the recent high yet , in other words its lagging behind , wanted to see it at one of the key levels i pointed in the chart when the AUD is at 8450 ,, anyways ,, i m watching the market closely for possible action

Chart Speaks for it self


Very short term price action i m watching ,, both pointing south at the end but different scnerios for what it ll do before down

VERY IMPORTANT CHART


remmeber this chart guys , i posted it a day or 2 ago ,, and watch very carefully the levels on it , i showed a move down with an arrow to 82 then bounce to new high at 8450 or 8570 , then a sharp move down ,,, it HAS BEEN WORKING PERFECTLY SO FAR WITH THE EXACT SAME LEVELS I POINTED , the only thing i left on the chart with 2 possiblities is the level where it ll hit before the fall down ,, wether its 8450 or 8570 . and i left this choice for me to decide on later as i see the price action develope ,,
well ,,, now i think i m making the last choice on this beautifull chart ,, as i posted in the most recent chart ,, i counted already 3 waves up and we r on the 4th with 5th to go , i dont think the fifth might extend further than 8450 , dont see it rallying that sharp ,, so ,,, i think my choice for the level is 8450 , but i ll be 100% sure when i see the s&p 500 testing one of the 2 resistance i shown earlier today on the chart ,, lets see where to go from here , but stay close for possible position adjustment in NY session