Trade Results (April 30, 2009)

Forex trading results for this week on daily trading. Combination of MACD, Slow Stochastic, Bollinger Band, and Candlestick Counting on multiple time frames platform.

AUD-USD post analysis

Remember in the beginning of April i was analyzing that AUD-USD will at least form 2 pieces of white candlestick on the major correction. And this analysis was valid throughout all the month of April. Now you can see the result yourself.

Previous Analysis: AUD-USD Technical Analysis (31 March 2009)
Here is the previous candlestick chart in the beginning of April 1, 2009

Below is the new chart with another white candlestick formation at the end of April 29, 2009.


Now you can think about how effective is this system, at least showing some accuracy over a month time.

Forex Trade Results 22 April 2009

Here is the result for trades up to 22 April 2009. The market for GBP-USD and EUR-USD still undergoing side way trend as the both pairs are having support and resistance in weekly time frame.

Trade Results - 13 April 2009

As we having difficulty to foresee the market direction monday based on the previous analysis. I have decided to follow the market, and scalp it along the way. So below is the result from EUR-USD and GBP-USD pairs traded on monday. Roughly around 70+ pips.

What we have witness on Monday is GBP-USD continue its intermediate correction upside and EUR-USD also do a minor upside movement temporarily on Monday, and today Tues 14 it goes down again. Both pairs is expected to be volatile over the period of this month where 4 hours time frames indicators plays very important roles especially slow stochastic.

Forex daily technical analysis - 13 April 2009

EUR-USD

The pair is defying the direction of technical analysis for the rest of last week due to strong fundamental impact on the market. As a result it follows the down trend direction way too early where it should be undergoing correction process between 1.3164 and 1.3711 support resistance level.

As of today it the pair direction is still hanging in the balance without clear direction where it should go. The possibility of moving up or down is still unknown as fundamental influence can easily the market into turbulence. By rights based on technical perspective the pair should be going down gradually at small scale retracement at every twist and turn.
Intermediate Trend (Weekly time frame) - Upside correction
Long trend (Monthly time frame) - Down or bearish trend
Today direction - Unknown (due to fundamental disturbance)

GBP-USD

Likewise the pound-dollar pair also following the same course of direction as eur-dollar during last week movement but in a smaller scale. Unlike eur-usd it is only having a minor correction and still having the chances of moving up to continue intermediate terms retracement.
As of today still we cannot determine the clear direction as fundamental factors i.e. economic data release can affect the movement in any direction. However based on technical perspective we the market should be moving down to 1.4603 level and then continue the intermediate term process upside.
Intermediate Trend (Weekly time frame) - Upside correction
Long trend (Monthly time frame) - Down or bearish trend
Today direction - Unknown (due to fundamental disturbance)

AUD-USD

The only pair between that going the right direction for retracement is this australian dollar-us dollar pair. It follows correctly the intermediate correction process for the rest of last week. You can see this as the market moving upside following the slow stochastic. On weekly time frame candlestick is getting smaller indicating the market is weakening to move further upside. However we will never want to underestimate an overbought situation if the fundamental factors affect the market so much.
As of today we expect correction downward to 0.7142. Or if not then it could be still moving upside to go for overbought.
Intermediate Trend (weekly time frame) - upside intermediate correction
Long Trend (Monthly time frame) - down or bearish trend

GBP-USD Trade Results (7 April 2009) Updates

Not much after 2 days of trading as the GBP-USD made an unprecendented correction to the unlikely support at 1.4581. However we still harvested some pips from the corrections and make at least something to talk about here ;). As per analysis on my youtube video the GBP-USD along this week is bullish, any downwards movement are just mere correction that you can take advantage off to ride the rising wave.

My analysis was that the correction should be too far beyond 1.4716 but i was wrong due to unpredictable fundamental and currency correlation factors. So it was going deep down to 1.4581, eventually then later the market move back to around 1.4716 which is ideal support level.



And so the market may continue it's bullish movement again along this week. Remember one more guarantee white candlestick for this week ;). Just wait and see

Trade Results - Back Testing MACD, Bollinger Bands, Slow Stochastic, Counting Candlestick

In order to obtain some results for you to see, I am using Marketiva forex platform to trade on Demo account. This is because Marketiva is really pretty simple to use if you are looking just for a demo trade.

So here it is the results of back-testing combination of MACD, Slow Stochastic, Bolling Bands, and Candlestick Counting. The analysis is also based on the perspective of different time frames.