22 June 2009 @ 9.40 AM - Malaysia
Red Fun - Mental News
- No significant Red News today for GBP, JPY & USD
We will use purely technical to trade today..
Big Picture Reminder
Monthly -
Trend Down; Current Action: Retracement
Weekly -
Trend Down; Current Action; Retracement (Last week Bar - Hanging Man)..
Daily -
Price Action Trend ??? Uncertain (only can decide after completed today's bar) ; But Indicator suggest - DownTrend
4Hr Trend : Up... Retracement In Progress
My Action up to 4.00 PM: I will take BUY trade; unless 4Hr trend change to DOWN..
No swing trade as market currently suggest RANGING.
No Scalp trade (only take scalp trade from 11.00 Am to 11.00 Pm).
Update : 12.00 Noon
4Hr Trend.. Masih Up; so i will assume currently price in retracement mode until i see trend change (if happen) @ 4.00 Pm..
No swing trade as market still I consider ranging.
No scalp trade
Update: 4.30 PM
4Hr Trend.. Possible Bearish Turning (Not Confirmed) until i see new price bar @ 8.00 PM.
No Swing Trade @ Moment - until I see Clear Trend Direction
Enter Scalp Trade Short - Wait for Hit TP or SL.
Update: 8.25 PM
Market Still Ranging... Bias kepada Bear but need to Wait for further confirmation. I need to see Next 4hr candle to complete to see clear direction.
Scalp Trade: Free Ride (If hit SL on 2nd Post = Breakeven).
Reminder:
Never assume that a trend has ended until there are clear sign that the opposite trend has started
By Owner of Caripips Blog
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