Something felt wrong when we saw the PSEi break the 3 support lines of the fan before.  True enough, it’s now showing us why.
Using the fan principle, it’s said that when the 3 trendlines of the fan have been broken, an imminent reversal of the trend is just around the corner.  While it still wasn’t [...]

Booyah! Finally ANI broke out of its consolidation and closed the previous trading week strong. It’s going to be an exciting week as I see the bulls to further push the price higher, but don’t get too excited. There’s a high chance that the 31.5 – 33 will get hit but near that level, traders who bought [...]

The good news is that the PSEi has reached and surpassed our near term target of 3114.  The bad news is that the momentum of the index seems to be weakening even further.
The next level that the PSEi must breach is 3130 and that’s just around the corner.  However, knowing that the momentum is slowing [...]

As of this writing GBPUSD is strong on the long on side but instead of going long I would counter trade this trend by shorting it. There are two reversal harmonic patterns I see, a Bearish Gartley on the 4-hour chart and a Bearish Butterfly on the hourly chart. Both reversal patterns points to a [...]

Although the PSEi has been going sideways for some time now, the recent trading days’ action has been quite encouraging.
Even without any leads, the index’s performance has been quite bullish. So much so that it’s quite possible that 3114 would be reached within this week.
The MACD is also encouraging as the fast line has crossed [...]

Bullish Gartley harmonic pattern on the 4-hour chart. Entry on the hourly chart.

Buy price is at 1.0310 (127% fib extension) and If the price closes above that blue line, that’s a buy for me.

B: 1.0310 / Trendline break
S: 1.0280
T: 1.0530 / 1.074
Move your stop to break even when 1.046 is hit.
Disclaimer:
Foreign exchange trading and investment [...]

This is my first trade idea for 2010 and I hope it would be a profitable one.
My bias for this pair is on the long side but I wouldn’t mind taking advantage of retracements.  I already  shorted USDJPY at 92.17 and 92.5 which is within 61.8% and 78.6% range. Take a look at the chart [...]

It has been a profitable year for us traders. The PSEi bottomed at 1684.75 and from there it went up to a high of 3130.43, 766.31 points short of the 2007 high at 3896.74. To sustain this bullish trend, the PSEi and other indices must correct or consolidate which I think will be the case [...]

The PSE ended 2009 with a whimper.  Even if the last trading day of the year produced a green day, it was still uneventful as most people were on vacation, either literally or figuratively.
Obviously, we are still in a sideways movement.  In fact, we wrote earlier that the index looks toppish.  However, we can’t say [...]