USDJPY Trade

Check out this graph! The Fib is so accurate! Amazing! The Fib was drawn on 21-Sep when the price was sitting on 61.8% level. I entered the trade when the price broke below 100% level. Stop was placed at the 0% level (which up to the limit that I can absorb if the trade went north). My exit point was at 161.8% (pre-set).

Check it out! Not only hit my profit target but further went straight to 261.8%. It was a good trade and more than 100 pips gain in total. This really make a killing.

However, the graph beside is my "paper account". It showed USD743.98 (standard account). Wow! Haha. For me, I did grab this good chance, but just placed one MINI lot in my real account, which only have about USD45 in profit. Still no bad.

USDJPY in Low Trend

UsdJpy formed was consolidating from 08-Sep to 10-Sep. Upon breaking out fromt the channel, the ADX broke above 25 (gaining sufficient strength for the bear), RSI hit below 40 (Bearish half). It headed towards the 1.618 level and broke through it. It was almost touching 2.618% (at 89.96). Now it's consolidating again. The bear is losing strength, RSI went into the grey area. Upon gaining sufficient strength for the bear again, it would head towards 2.618 level.

Kidding Green Shoots?

Futures:

News:

- General Motors is locked in a critical countdown.

- Asian markets was rattled by the N.Korea's nuclear tension.

Commodities:

Analysis:

- $INDU now is sitting at the Jan-Feb 09 Resistance and Nov-Dec 08 Support.

- Once 8223 support is broken, it is expected to hit 7994.

- Opinion of today's market: down

Is There Any Excuse Not to be Bearish?

Pre-Market Futures

Analysis:

- Oils proce dropped.

- European markets tank.

- Asian markets darkened.

News:

U.S. stock futures slipped Thursday, as Standard & Poor's move to lower the credit-rating outlook on Britain raised fears that a downgrade of the U.S. government's debt rating could be coming soon as well.

Data released Thursday showed continuing claims rising by 75,000 in the latest week, though initial claims dropped by 12,000. Still to come are releases on a Philadelphia-area manufacturing gauge for May and leading economic indicators for April that are due at 10 a.m.

Opinion:

- Down big

FOREX Trade

USDJPY(5mins)

Analysis:
· Harami at the downtrend was observed, signaling end of downtrend, might go sideways or reversal. Need conformation.
· Followed by Bullish Engulfing, showed strong reversal pattern. Huge commitment should be followed after the Bullish Engulfing. However, the 2nd candle turned out to be small. Fearing of 3rd candle reversal, the LONG entry was on-hold. 3rd candle showed Marubozu. This showed a strong confirmation and commitment.
· A LONG entry was placed at 96.40 for 1 mini lot (1 x 10000). 4th candle turned out to be large commitment.
· Fearing of 5th candle reversal, the LONG position was closed at 96.72 for 1 mini lot (1 x 10000).
· Indeed, the 5th candle reversal was confirmed and followed by a doji. Then the candles went for sideways.

Trade:
Long Entry at 94.60 for 1 x 10000
Exit at 94.72 for 1 x 10000
Profit = 12 pips

GBPUSD(5mins)

Forex Trade (USDJPYm)

This trade was based on mainly Fib retracement technique + (RSI & ADX & SMA) convergence. Several retracement was observed. Furthermore, the 1.618% confluence was found in between 96.84 ~ 96.84. As this zone has been penetrated, the next confluence (Fid zone) is at the zone between 95.87 ~ 96.17.

DHI JUN11.00 PUT

Pattern
DHI retraced at the Fib 61.8% (COP) level. Upon breaking below the B (OP) level, entry triggered and target at DHI stock = 11.78 (Fib 1.618%, XOP)

Indicators
All showed convergence. No excuse not to trade.

Trade
Entry: Bought JUN11.00 Put Option at premium = 1.25, 4 contracts (DHI stock @ 11.34).
Entry: Bought JUN11.00 Put Option at premium = 1.35, 10 contracts (DHI stock @ 11.25).

Stop: pending order, sold JUN11.00 Put Option, 4 contracts if DHI <= 10.78.
Exit: Stop triggered, sold JUN11.00 Put Option at premium = 1.50, 4 contracts (DHI stock @ 10.78).
Exit: Close all, sold JUN11.00 Put Option at premium = 1.40, 10 contracts (DHI stock @ 10.94).

Profit/Loss
USD100.00 (first 4 contracts) + USD150.00 (second 10 contracts) = USD250.00