USD/JPY

Potential countertrend setup or trap?


Updated 6th Mar:
Feeling pointless lately to post setups and updates. Like always posting the same old things. Same method just on different charts.

Time to go back to research? Want to work on a short-term version of system z but cant get hourly data. Basing short term trades solely on EOD data will bound to lag. Anyway, here's update for UJ. Compare with the GOLD trade in jan. Can you notice the similarity, its same!

STI Shape

Market still in correction mode now. Since downside is obvious, I'll give the alternative view so we can standby to long if it ever happens.

GENTING

May be ready for bounce next week.


Updated 28th Feb:

HSI Long

Hang Seng's development..


Updated 28th Feb:
System z gave a sell signal one month ago at 20600 level. Which is followed by a drop to 19200. On fri closing, system z gave buy signal at 20600. Would this be a false signal or would we really see inverse h&s breakout with followthrough? Market tell we follow.


Using concept of price impulse, system signals often coincide with breakouts/breakdowns of major trendlines. Like h&s breakdown in jan, and inverse h&s now. The other concept used is it keep track of how much profit is on the table for bulls and bears.

This is important because what fundamentally drive prices is two events. Participants forced to cutloss and dump their positions. Participants afraid to miss the train and chase prices.

SSE Bounce?

A friend ask so here goes.

This chart is usually for long not for short. After travelling long distance in latest down wave, odds favour at least small bounce to test a prior support-turn-resistance.


Updated 15th Feb:
Price found support and rallied. Unstable price actions past few weeks may suggest difficulty in breaking and securing blue resistance line.


Updated 28th Feb:
As expected, the bounce continued to the blue line.
Now its no man's land, to retrace or breakthrough?

HSI Long?

Potential rebound this week if breakout 20300.

Obviously there is short setup however there is increasing chance of false breakdown after a big down move without meaningful bounce.


Updated 2nd Feb:
HSI did a false breakdown on monday and proceed to breakout. Strange, breakout should be bullish bias but broad market red.

Filled buy order on retracement.



Updated 15th Feb:
Did not hit 21000 tp. What weak market, sellers leading all way.

Filled half at first major resistance. Filled half at entry price.