Category Archives: Forex

Sterling chops my neck

I have been looking for Sterling to find support around 1.5850 because that area marked was respected several times in the past 20 years. But today was a different story. Incredible as it seems, we were at 1.75 just 4 days back, and today’s low was 1.5260. That is a cool 22 BIG FIGURES down Continue reading

Share
Posted in GBP | Tagged , , , , | Leave a comment

Still think we should buy STG around 1.5850

This is a brief update. I acknowledge it is silly to project the pattern that the market will trace. If I were to do some wishful thinking, then it will be an ending diagonal triangle like what is shown on the chart Continue reading

Share
Posted in GBP | Tagged , , , , , | Leave a comment

Next dip in Sterling is a buy!

The sharp sell-off in GBP/USD this morning was on the back of comments from Bank of England Governor Mr. Mervyn King that the UK was probably entering recession for the first time in 16 years. The high for Sterling yesterday … Continue reading

Share
Posted in GBP | Tagged , , , , , | Leave a comment

Will INR go to 57 per USD?

I have great respect for people who put in a lot of thought and come up with fundamental reasons why a certain move should take place. Thus, when I read a report from a leading (investment) bank that the Indian Rupee could reach 57 to the Dollar, I took the time to read it carefully. Continue reading

Share
Posted in Inr | Tagged , , , , | 11 Comments

AUD in a complex correction

Traders often lose money when trying to squeeze additional profits during a complex correction. Wave theory is quite clear. Corrections tend to alternate between simple and complex patterns. Also, the market tends to correct a prior impulse wave both in time and price Continue reading

Share
Posted in AUD | Tagged , , , | Leave a comment

USD/YEN is a sell on next recovery

Anyone who has traded the Yen knows that it is a different animal from the rest of the pack. But there is one undeniable fact about this currency, it is a trending currency. Once it sets off on a trend, it stays with that trend for a long time. Continue reading

Share
Posted in Jpy | Tagged , , , , | Leave a comment

Raves and Reminiscences

“Sweet is the memory of distant friends! Like the mellow rays of the departing sun, it falls tenderly, yet sadly, on the heart.” Washington Irving.

I have added two new pages for my old friends in the market. (They are right at the top, next to the ‘About” page). Continue reading

Share
Posted in Forex | Tagged , , , , | Leave a comment

USD/YEN still a sell on rallies

Sooner or later we are going to get a corrective bounce in USD/YEN. But the downtrend is still strong and we should be willing to try shorts at key levels. If we surge higher today, then you can sell above 101.70 with stops at 101.88. Continue reading

Share
Posted in Jpy | Tagged , , , , , | Leave a comment