I used the smallest size I have. Thanks for the remind. I nvr trade more than 0.10lot or 0.20lot. and that is also the smallest I have.

Gonna trade carefully. Better safe rather than regret.

Once kelvin come back, he sure laughing bcoz there is alot alot of pipps floating for him jor. He did the correct thing today. Guess he nonid to trade for the night time jor gua...

perhaps the only nation looking good economically left is....China.

@kelvin
last week i expected an up move (even though i hate making expectations on the market)...but with the given the outlook of this week, no idea where's the direction now. Sentiments and monies are rather scattered, but on plain TA (which i don't rely solely on its own), the bullish reversal on EU may fail by next week. Breaking the support line of the up move may cheat away with quite some pips though.

Just my opinion

haha...the milk thing is just a short term thing, unless they keep producing such products. Not to forget, China itself is a huge market. With the recent slow down, even as the shares drop, it's still not in the state of recession. The reason, it has a rather sustained 11% growth, the current slow down reduced it to 8%, a rate which typical nations would have considered a good rate at good times...

i never forget how human reacts

china's economy doesnt depends on dairy products...plus, it's not the fist time poisonous products got out into the market anyway, and China is definitely not the first. And it certainly wouldnt affect much on the FDIs, which includes a vast of semi-finished products. One wouldnt open up their tv to check for any components made in China, wouldnt it? In fact, the current slow down, and the drop of commodity prices, would even further reduce concerns of inflation. Cheap and skilled/specialized labours, considerably better than average technologies availability, and the 1.3bil population market, etc, are still the main focus.

If US, Europe, Japan, Brazil fail, or take a decade or so to recover (Japan hasnt recovered since 1990s), China would be the next power house. US's boom after recession has been lowered in terms of GDP since 1920s, especially apparent from the last one.

anyway, back to forex

EU's move is damn ugly the whole week....losses....shouldnt be greedy to recover

I dont put few ten of thousand buck to learn these crazy stuff. It is not worth my money. I want a clear cut position. Consistency is key and TA wont work if the Central bank do some surprise stun like a combine rate cut days ago. if ur TA showing market recovering up, but suddenly surprise emergency big rate cut instant drop 100pips how would ur TA detect those? TA wont even work in these market any surprise thing from those central bank people or a few more bank failure can turn the trend instantly.

Myself also still learning how to draw charts, wish other could correct me as well. Gaining experience in order to draw a better chart. I draw every week since the first day I trades, So, I've drawn countless charts, guess that is what build me up.

Identifying chart pattern, me also havent really know how to see it, Juz sometime got luck and saw something special there. Hehe.

Basically like this,
For me, EU GU still have room to down. BUt not in GJ and EJ, IF monday close appear to be a bullday for GJ and EJ, I might take the GJ EJ as a long term carry trade, Juz win the interest is enough jor. Juz keep it until next year also nvr mind. Unless GJ EJ keep going down and down.

As a FA trader, I guess he probably in the same state like me, stopping FX for a while.    (or if I am wrong) Wide spread, high Libor rates, Big volatility given the risk/reward it is not worth my time too.
Adam,

The USA situation is not that good either compare to Europe. Both of them are bad, this is the reason why I am staying out. The recent USD strength is boosted by market demand. Check the Libor rates, People are paying high interest to get USD. Market is thirsty for USD in believe that USA is ahead of Credit crunch and probably recover first b4 the world. When all the thirst run dry, u will see how toilet paper the USD is. A country with serious Debt will probably end up printing more money. (Hence USD- in long term)

Something to ask here. Is it posible I can add the price at the level of Fibonanci? Teach me how instead of I spending time to draw line at there.