Friday, 26 September 2008

I believe USD is going to rally in long term. However I need to learn lessons from trading of GJ. My predictions on GJ's downtrend was correct, however, I didn't make any money, but lost quite a lot money on GJ. The most direct reasons are, (1)I didn't use SL, and (2) the market had stayed irrational longer than I stayed solvent.

UCa:
UCa may bounce up. If so then it will have several hundred pips potential profit. Buy limit at 1.0285. Look closely MACD daily chart.

AU:
If UCa goes up, then AU should come down. But AU seems to have a bullish flag, while daily MACD shows it may drop down. Basically I believe it's more likeyly to drop down.
Sell at 0.8420? (target at 0.8170? )

EU:
Delete 213. Change 295 to sell at 1.4957, SL 1.5030.
Opinions of Wang Yang: Short term support is 1.4550 and 1.4500. If 1.4500 is not broken, EU still has chance to rise with oscillation. Besides the resistance at Monday's high 1.4867(orignial article is 1.4886), much stronger and more important resistance is 1.4900-1.4950. My own analysis shows the resistance is the 50% Fib at 1.4960.

UC:
Buy at 1.0720, SL 1.0620.

All the above pending orders should be re-considered in Tuesday evening.

this week: -7.079%
7 weeks ending 19 September: +14.892%

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