Monday, November 3, 2008

As usual its Monday morning, but unlike before this morning its a fast mover. As usual forex class started at 9am. Who entered the morning class should be in profit by now. I personally got 100 pips off EJ. Now I am not trading anymore. Monday morning got a lot of work to be done. See you again at 3pm.


As promised earlier. I am trading again at 3pm. This time the signal is not as favourable as in the morning. We have here is a short signal in an uptrend formation. Still it is tradeable but the level of risk is higher.

In the chart there are 2 symbol of hands pointing up and down.
Hand pointing up:
1. Time: 9am Malaysian time
2. Signal: MA cross and RSI>50
3. Trend: Uptrend formation. This is easy picking. I entered 5 minutes earlier and exit 100 pip later. I could have followed the trend but due to office work on monday morning I cannot monitor it. An early exit of 100 pip on Monday morning is not a bad trade.

Hand pointing down:
1. Time: 3pm Malaysian Time
2. Signal: MA cross and RSI=50
3. Trend: Uptrend formation. This is a hard trade. Short signal on an uptrend formation. This trade most probably be a short one. At the time of writing, SL has been moved +10 pips. So I am at a profitable position now. Let see how far the rabbit hole goes.

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