MT4 EA: Aggresive 5 Minute Scalper

Well, it's the weekend, what else is a grown man to do?I had an inspiration for an (overly) aggressive expert advisor today. Basically, it's a simple buy low and sell high machine using oscillators.Scope out the chart. It does fairly well for a period of time and then when the market finds it's achilles heel it is undone.All is not lost. I have some ideas for improving the aggression factor as

GBPUSD: A Drunken Sailor

The cable, as the GBPUSD is called, looks like drunken sailor.The chart is all over the map, with massive daily swings lined up one after the other all over the place.There are some pips to be made in there!I'm not generally trading the GBPUSD, but I'm going to put a few moments into figuring out whether my AUDJPY chart set up seems applicable.It's hard to resist all that volatility.

AUDJPY: Tweezer Top?

The market has about 6 minutes to change it's mind.If it doesn't, this is going to look like a tweezer top on the 1 hour.Now, that would be something I'd consider bearish (I originally typed bullish).If you read my last post... you know I'd like that to happen!Now about 4 minutes left.Zzzz. No market reaction on the hour.Maybe the tails weren't long enough -- or I'm too impatient?... continuing .

AUDJPY: Short On Failure?

It might be time to think about shorting the AUDJPY.It's coming up to a recent high and might not have a lot of legs left.If we get a decent failure there could be a shorting opportunity for some part of this evening.See (on the 1 hour)?Let's keep an eye on this...... continuing ...Down on the 1 minute chart we seem to have some resistance to get through before we have the ability to drop:...

AUDJPY: Morning Peek

Well, first, I can't believe I'm awake this early after such a long night. I need to hone my craft and trade for a living -- I'd be able to keep better hours.Anyway, this morning we have the follow up to last nights analysis.We're looking at what appears to be a double bottom with no idea whether or not we'll reap the technical rewards that they can offer.Since I slept through the last several

AUDJPY: Look Who's Consolidating

Well, I should be sleeping, but since I'm not I thought I'd take another look at the charts.Guess what -- it's the same chart but I see something new!Okay, sure, a bit more time has passed. However, with the added points I clearly see that we seem to be consolidating.There should be some money to be made while we bounce around... and then some money to be made when a direction is chosen.As ever,

AUDJPY: Did We Bounce?

My last blog post, audjpy decision point, talked about an upcoming decision point. At the moment it looks like we are going to begin an upward leg.I'm feeling particularly cautious at the moment, especially since this is only on the 15 minute chart, but I thought I'd post it.Notice the last candlestick:As I'm long term bullish on AUDJPY let's hope this is the beginning, or perhaps resumption, of

AUDJPY: Decision Point

I'm looking at the 3HR chart at the moment. We seem to be looking at an impending strike on a recent support line.If this resistance holds we might have a technical setup that would allow for a nice gain.Take a look:See how there was something of a W shape starting in the middle of the 19th? See how the chart is currently on the second touch down of a second W? If we bounce off the support line

AUDJPY: Waiting For The Trend To Break

I often think that evening trading goes through a period of doldrums. It gets boring. Things move slowly, if at all. Ten pips gain or loss can take an hour or more to happen.Zzzz.At the moment, as you can see by the chart below, I'm waiting for the current trendlet to break:This is a 1MIN chart, hence the "trendlet" concept.

AUDJPY: Decision Point

After the downward move, see the last post, we are now poised to either bounce off the previous low or sink down.In other words, either result provides opportunity.Here's another snap of the 1MIN showing the AUDJPY bouncing just above the recent low of 68.06 (as shown by the yellow support lines drawn under the candlesticks).Take a look, make your call, set a good stop if you know how......

AUDJPY: The Bounce At 68.06

I was watching the AUDJPY as it slid downward today.As you might expect it was following a nice trend on the way down. It's currently following a nice trend line on the way up too.Here's a 1MIN chart showing the upward movement from the 68.06 bounce.I don't really place a lot of stock (heh, bad pun) in the 1MIN but it's interesting nonetheless.... continuing ...This is getting more interesting:A

Forex Analysis Post-Review

Well, did anyone notice what happened based on the forex analysis I posted over the weekend.The EURUSD, posted here, indeed moved upwards a bit before resuming it's downtrend.The AUDJPY, posted here, with a followup here, broke it's support line and henceforth fell like a stone.Nice. While I obviously am not able to say which way it will go in advance, it seems I was able to pinpoint the action

AUDJPY: Breaking Trend?

Though I'm a bit leery of Sunday price action it looks like a fairly long term support line is being broken.This could be interesting.... continuing ...Looking closer, this may not yet be a break, as there have been previous "breaks" which gives us a bit of leeway here. A redraw based on a previous "break" leaves a bit of breathing room still.... continuing ...Waking up at 5:30am I see that

AUDJPY: Weekend Analysis

If you've been following along you'll notice that I keep mentioning that I am long term bullish on the AUDJPY.One of the reasons is that I think we've seen the worst of the panic and risk aversion. Another reason is that I think we're now closer to a recovery and following period of economic expansion than a lot of people expect.Given these two thoughts, and the following chart, it's easy to see