Have a great week ahead and enjoy your weekends . remember different phases of market and diff market condition applies different strategies . accumulate and built your portfolio . cheers .
S&P intraday results
wednesday -2.5% downwards move on S&P did not manage to break lower than 880 hence push thursday mid-day session higher with upclose . do not hold any position too long as we are still expecting a downclose week . ( this is a follow up chart from yesterday's posting ) . happy trading . aim to make good $$$ . cheers .
Indexes Update for coming movement
Thursday, May 14, 2009
Hi .. take notice of this important level of S&P 880 level .. daily and hrly chart show immediate support level no doubt yesterday 130509 we saw a down close day of 2.5% . there might not be a downwards follow through in todays session but if the market pushes lower than 880 and stay lower with lowerLow than we are going to expect big downclose week . when trade higher than 880 level we see only small downclose week . the market remains healthy for this short time flame as this movement down creates a retracement . asia indexes including TW STI did not have any big reaction when S&P came off 2.5% yesterday , so we can look forward for some support for a good scalp into intraday . for more info email : info@mmtta.com
Daily USDJPY chart 13 May 09
The technical head-and-shoulders formation on the daily USDJPY chart has prompted us to consider shorting USDJPY.
Neckline break at 96.50 earlier today suggests that a 89.60 target is possible medium-term
Momentum indicators are currently pointing lower
Retail Japan currently has biggest long USDJPY exposure in the last 6 months. Time for a shake-out?
Risk - Appetite for risk extends on improving global outlook, S&P risies to 1,000+
As such, we suggest selling 1/2 position now (96.45), adding to the position on any retracement back to 97.25 with a stop on the whole position above 98.20. Initial target 93.00 then 90.00.
Source from Saxo Capital Markets
USD/YEN 13 May 09
Wednesday, May 13, 2009
As we can see YEN moves 150 pips for the day . we saw rejection coming in after a good retractment @ close to 97.80 area . cheers for those who manage to get into such a beautiful trade and go for maximum rewards intraday move . 1 good trade is good enough !
TW 12 May 09
Tuesday, May 12, 2009
Remember any reversal dont come right away . tell tale sign with MARKET DEPTH & price action is very important . good trades comes with market follow through that is in favour of your trades , together with proper RRR + (risk , trade , money management ) do lesser trade but ride maximum market movement . do not increase or add on more position for any reversal unless top-down approach is confirm . email : info@mmtta.com
USD/YEN 12 May 09
There are certain degree of pressure pushing the market with new Low than yesterdays Low . might not be looking at big movement early today . not much follow through so must be extra patient when initiateing a trade . trade with care .
Non Farm 08 May 09
Sunday, May 10, 2009
Hi all .. we change our webinar to Monday instead . we are glad that Non Farm came out the way we saw and being able to have good profits by adjusting our SL back to entry and the upside movement for Eur is close to 300 pips .. cheers ..
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