Interesting comparison from The Economist. comparing Real GDP growth, Inflation, and currency appreciation, it is said that China will overtake US in 2019.
Archives for 2010
Happy Holidays
I am still around, and still trading last week, just did not find time to post chart or tweet. Anyway, it is holiday season again, and I am closing most of my positions, and keep the last piece of AUDUSD short (at trailing stop stage now). Well, I am going to spend next week with family, so I don’t expect to pay too much attention to the market, not to mention, blogging.
Till then, have safe and happy holidays.
Merry Christmas.
Gav
$AUDCAD 07 Dec 2010
I have been watching the chart of AUDCAD over the weekend, and I thought it provide some decent short opportunities. From price action perspective, it is trading around the defined downtrend line, and moving into the resistance area defined by previous swing points. On the other hand, we have a bearish harmonic formation at around 0.9970 area. I am watching price above parity level to invalidate this setup.
Here is the…. CHART!
GOLD $GLD 02 Dec 2010
Here is the GOLD chart that I am looking at. I see confluence of resistance level, channel, Fib levels, and harmonic formation.
I am keen to watch 1400 before deciding if to go short.
[tab: Initial Setup]
Here is the chart…… to confuse you.
[tab: Update 05 December 2010]
The initial bearish harmonic setup was invalidated after NFP announcement. GOLD fired through 1400 level. At the Friday close, I observed another bearish harmonic formation. The formation will be invalidated again if ‘X’ is violated.
Here is another chart….to CONFUSE you.
$USDCHF 29 Nov 2010
Here is the USDCHF. From technical point of view, it is forming a almost perfect harmonic pattern. Every point hits the target. Well, this doesn’t mean the pattern will work out. However, pattern recognition trading is about providing you a road map, or a window for you (well, at least, for me) to enter the market.
Have a closer look at USDCHF, we are approaching reversal zone, and I see confluence of resistance and Fib levels. Bearish harmonic formation might be signaling the continuation of down trend. Well, let’s see.
Here is the chart to …CONFUSE you.
$NZDUSD 26 Nov 2010
While the NZDJPY setup is still valid, I have another bullish setup found in NZDUSD. Again, I see confluence of Fib levels, support level, bottom of channel as well as my favorite bullish harmonic formation.
[tab: Setup 26 Nov 2010]
Here is the chart to confuse you.
[tab: Update 28 Nov 2010]
The reversal zone of the original harmonic setup was violated, no sign of reversal in the zone, so, no entry yet. However, while I was zooming out the chart, to look at a bigger picture, another bullish harmonic formation is setting up. Still, I see confluence of support and Fib levels at the channel band.
Here is another chart to confuse you, yet, again.