USDCAD – Signs of Weakness

(Click on image for larger view) Hi All, Here’s a quick update on what I’m looking at. The above is the USDCAD Daily chart and price has recently testing a long term resistance level (~ 1.28). This level was last tested in early part of 2009. However, there was a clear Support-turn-Resistance pattern in Jan 2004…

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GBPUSD – Bearish Strength Continues

(Click on image for larger view) Hi All, The above is the GBPUSD on a weekly chart. As you can see, price have been falling since July 2014 (see article) and it is still going strong. With the free fall, price was one directional. Price Action became interesting again at the start of 2015 as…

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Gold – No Clear Signals Yet

(Click on image for larger view)  Hi Traders, Above is the Gold on a weekly chart. Looking at the big picture, price has not been showing much direction. While price is moving with lower lows and lower highs, price seems to be narrowing into a wedge pattern. In fact, that’s a clear consolidation pattern. How…

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Lessons from the Taoist Farmer

Here’s the Story of a Taoist Farmer “There is an old Taoist farmer who had worked his crops for many years. This farmer had only one horse, and one day the horse ran away. The neighbours came to condole over his terrible loss. The farmer said, “What makes you think it is so terrible?” A…

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Making the Decision to be a Trader

Two and half years ago, I made the decision to relocate to Asia. Once I made the decision, the move was easy. But don’t get me wrong, the decision to move did not go without challenges. In fact, after living in the UK for 11 years, moving was emotionally and physically challenging. Nonetheless, because it…

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AUDUSD – Testing Old Support

(Click on image for larger view) Hi Traders, Hope the new year has been treating your well. If not, let’s start by starting afresh today now. The chart above is the AUDUSD weekly chart. As shown above, the market has been on a slow but gradual fall since July 2011. The gradual fall was not…

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Peeling Away Those Bad Trading Habits

  Recently, I had a coaching session with Alex (a made up name) who was keen to make a personal breakthrough. During our conversation, Alex brought forward an interesting topic – he was curious to find out how he could make permanent changes to his trading habits. As you can imagine, these bad habits were…

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NZDUSD – Finding a Long Entry At a Retest?

(Click on image for larger view) Hi Traders, Here’s the latest market update. In fact, I’m testing out this format, so please let me know if you prefer a commentary like this or if you prefer the short and simple commentaries that I’ve done in the past – see older posts. The Big Picture The…

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EURUSD – A Post-Fall Consolidation

Hello Traders, Here’s a quick update on the Euro. Looking at the chart above, price has made a dramatic drop since May 2014 after the break of a wedge pattern (see article). While price looks to continue it’s fall, it also looks somewhat extended – in other words, a correction is due. At the same…

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Gold – What Does It Mean?

  Hello Traders, Hope you are doing well. This is just a quick update on this precious metal. As mentioned on the 31st July (see article), Gold has been consolidating since mid 2013 and it has been testing a long term support level around $1180. Price broke below that level on the 31st Oct –…

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