PHILIPPINE STOCKS: EEI Corporation (EEI) – February 26, 2010

The image here is the stock chart of EEI Corporation or EEI as listed in the Philippine  stock market. During the whole year of 2008, this Philippine stock (all Philippine stocks actually) has been on a downtrend as indicated by the greed dotted line. In 2009, it made a inverted head and shoulders or a rounding bottom (depends on how you see it  and both are bullish chart patterns) as indicated by the red lines, the price broke out of the said formation then from 0.70 pesos per share it surged to 2 pesos in 6 months. Currently, EEI just is just smooth sailing in an upward trading range  and as long as the price doesn’t go below the support line,(dotted violet line) the stock value remains intact as for my technical analysis.

Short EUR/USD (trade status:CLOSED) – February 25, 2010

A potential breakdown from the symmetrical triangle chart pattern triggered me to short sell the EUR/USD of the forex market again @1.3571 after my trade hit the stop loss earlier. Stop loss is currently set @1.3635 (64 pips) as for my technical analysis. Updates:12pm 12-25. Took profits as seen on the right image in the 15-min time-frame. 118 pips up!

EUR/JPY – February 24, 2010

The EURJPY of the  forex market has broken down from its upward trading price channel in the 3-hour chart and has higher chances of going further down as for my technical analysis.

Short CAD/JPY (trade status:CLOSED) – February 23, 2010

Shorted CADJPY@87.10 as it broke down from a head and shoulders chart pattern in the hourlies as for my forex market technical analysis. Stop loss@87.27 (17pips). Target price@86.53.

Updates: 12am 2-24. Target price was hit. Profited 57 pips.

Long EUR/USD (trade status:CLOSED) – February 23, 2010

Forex market: The image on the left is a 3-hour chart of the fiber or the EURUSD currency pair and the price is trying to breakout from its downtrend, once the downward trading range’s resistance is broken another good entry awaits as for my technical analysis. On the right is also an image of EUR/USD but in the 30-min time frame and just when it broke out from a inverted head and shoulders chart pattern, I went long.

Bought EUR/USD @1.3661. Stop loss placed@1.3618 (43pips). Initial target price @1.3782 (121pips).

Updates: Stop loss moved to entry price was hit. Trade was break even.

Speed Dating Internet Style

How would you  like it if  you can simply  turn on your computer, activate your webcam and meet hundreds of random people on the net? Today, meeting new people can be just as easy as downloading emails with video chat platforms such as www.chatroulette.com.

The Upside: Can be good for meeting random people. If you’re bored or just want to try something new, you might want to try your luck video chatting someone (I personally wouldn’t waste my time on this but I tried it). If you don’t like who you’r chatting with then just click the “next” button and another person comes out in just few seconds. If you don’t want to be seen then don’t activate your webcam.

The Downside: The name ‘chat roulette’ already suggests randomness, or a gamble if you will. If you’re a guy looking for ladies, it won’t be that easy because 98% of the time you’ll meet sausages. Contrary to that, if you’re a lady who wants to meet guys then you might want to hit the website and try your luck in meeting someone interesting.

PHILIPPINE STOCKS: TA (TRANS-ASIA OIL AND ENERGY DEVELOPMENT CORP.) 2-19-2010

Trans-Asia Oil and Energy Development Corporation or TA as listed in the Philippine stock market seems to be forming an ascending triangle chart pattern as indicated by the red diagonal lines. As for my technical analysi, a breakout from the resistance line would be my ideal entry for this stock. However, could it also be a trading range or a sideway consolidation? Yes, but if the price passes through the resistance line (upper diagonal line) with a sudden surge of volume and the 1.54 Philippine peso minimum target price is reached in a short time then I’d have to change my answer to “No”. Take it easy trading! (“,)

Long@AUD/JPY 2-19-2010 3am (trade status:CLOSED)

After my cut loss was hit a while ago, I re-entered AUD/JPY of the forex market anticipating the break of the resistance. Entry price is 82.13, cut loss is 33 pips and my target price is 82.8.

Updates:4am 2-19. Resistance had been broken. I now move my stop loss to my entry price.

Updates:11am 2-19. Price went back it of the resistance line. Stop loss hit. Trade was breakeven.

Long@AUD/JPY 2-18-2010 8pm (trade status:CLOSED)

Went long on AUD/JPY of the forex market @81.54 as I expect a bounce  from the support line of the uptrend. Cut loss is 36 pips away from my entry price or once the price breaks down of the support line.

Updates: 10pm 2-18. Cut loss hit. Lost 36 pips.

EUR/JPY 2-18-2010

We have here charts of EUR/JPY of the forex market in two different time frames. On the left is the 3-hour chart with a 1-month time frame of the currency pair and had broken out of the downtrend’s resistance last Feb16. It’s currently moving on an ascending price channel and may seem bullish. The image on the right however is the daily chart with a 1-year time frame and what looks to be an upward trading range in the 3-hour time frame seem to look like a rising wedge for the dailies of EUR/JPY. Still, it can be either one of those and can only be confirmed by a breakout or breakdown.

Long@USD/JPY 2-17-2010 2am(trade status:CLOSED)

A few hours after my USD/JPY  of the forex market short sold trade was cut, I decided to re-enter. Instead of going short, I now went long since USD/JPY seems to have broken out of the downtrend‘s resistance line in the 3-hour time frame. My entry price is 90.15 and my cut loss is 89.90.

Updates:11am 2-17. Moved my stops to my entry price of 90.15

Updates:7pm 2-17. Took profits, 35 pips up.

Short@USD/JPY 2-15-2010 2pm (trade status:CLOSED)

Short sold USD/JPY of the forex market at 90.12 expecting a bounce from the major resistance in the 3-hour time frame chart. Stop loss placed at 90.55.

Updates:11pm 2-16. I have now moved my stop loss at my entry price of 90.12 to prevent further loss.

Updates:10pm 2-17. My stops placed at my entry price was hit. This trade was break even.

USD/JPY 2-15-2010

The USD/JPY  of the forex market in the 1-hour time frame (left image) shows an uptrend. Looking at the 3-hour time frame (right image) however changes the whole picture, instead of an ascending price channel, we might be seeing a rising wedge. Despite USD/JPY’s unpredictable direction,  it’s still a good currency pair to look at since a break out from the downtrend in the 3-hour chart is a good buy and a breakdown from the possible rising wedge on the other hand would be a great time to short sell.