Monday, 21 March 2011

(UPDATE) AUDUSD 5min ending wedge

(UPDATE) 22/3/ 9am AEST: There was no reversal at all from this pattern and thus no trade. This is why I always try to wait for confirmation before trading. See chart below. Move on and focus on the next setup.

SPI 5mins- consolidation before a breakout?

Tried shorting SPI twice today and it is just not breaking down. Are we looking at a triangle consolidation pattern?

Asian Morning Thoughts

A quick run down of the setups I am following in Asia this morning. Note that Emini Futures are 6 points higher since Fridays close so it would seem that the recent military intervention is having little impact on the market in early trade. The Middle East had a positive session.

SPI Day June 5mins: