28 April 2016

Claudio Ranieri : My Hero

Claudio - I hope you do it.

29 March 2016

USD/JPY : Getting Close

  • Trading around 113.70 currently.
  • Watchful mode here, attractive shorting opportunity akan datang. It will come, be patient.
  • Need to revise the parameters from the previous post. Think we can get levels closer to 116 to sell.

17 March 2016

USD/JPY : Confirmed Trend Reversal

  • Long term USD/JPY chart looks awful. SHS top at 125.86, NL 116.13, downside objective 106.40. Uptrend reversal confirmed.
  • Late making this post. Should have called this after Feb's closing at 112.68. Nevertheless, will keep a close eye on this and initiate fresh short on any rally towards the old neckline at 116.13. The market will usually always give you a 2nd chance on patterns such as this. Eg of possible scenario = frenzy on buildup towards next Fed hike.
  • Good risk/reward if can get set say, above 114, stop above 116, target 106.40. Patience and discipline required. If the market doesn't give me a good entry point and I miss the move, then so be it.
  • I think the Yellen Fed has cocked this up big time by starting the hike cycle too late.

04 March 2016

Gold : Daily Triangle Breakout

  • Right on cue, broke out after the requisite amount of time spent forming the triangle. Had feared that it might all fizzle out and limp towards the triangle apex but no, this one has not disappointed. Very pleasant indeed.
  • Am going to take some profits as we approach 1320. Short term tactical play only. 
  • (Anyone think move has anything to do with a potential Donald Trump presidency?)

26 February 2016

Gold : Short Term Plan

  • Daily chart shows a consolidating triangle.
  • Upside break of triangle (probably requires a close above 1250) should target somewhere around 1320.
  • Whilst long term target remains 1377-1479, it might make sense to book some profits if the shorter term triangle target of 1320 is reached (especially given that our average long-in price is 1097, would have been quite a decent run by then).

06 February 2016

Gold : Upside Targets

  • Assume 1046 low is the  low in place.
  • Fibonacci retracement levels from 1912 high of 2011 are : [38%=1377] [50%=1479] and [62%=1581].
  •  My gut feel is 1377-1479 is achievable sometime within the next 2 years.
  • Shorter term, we are probable going to break strongly above 1192 first before any meaningful attempts to shake weak bulls come into play.

Gold : Upside Break

  • Good strong weekly close at 1173. Details behind Jan NFP numbers (strong hourly earnings, UR below 5%) have led FX and Rates markets to price some Fed hikes back in, and yet gold was able to break higher. Good sign.
  • Updated weekly and daily charts on the right. Next resistance 1192.
  • See next post for bigger picture and upside possibilities.

28 January 2016

When Breath Becomes Air by Paul Kalanithi

  • Book written by neurosurgeon who died too young. #1 on NYT non-fiction bestseller list now. [Goodreads link here]. He wrote book while dying of lung cancer.
  • The other neurosurgery book by Frank Vertosick is a much better read. But I only made this post because I wanted to share Kalanithi's beautiful last words to his daughter who was only 1 year + when he died.
  • "When you come to one of the many moments in life where you must give an account of yourself, provide a ledger of what you have been, and done, and meant to the world, do not, I pray, discount that you filled a dying man’s days with a sated joy, a joy unknown to me in all my prior years, a joy that does not hunger for more and more but rests, satisfied. In this time, right now, that is an enormous thing."

26 January 2016

Long Gold in Investment Account

  • Been stalking this for ages and ages. Think bottom is now in place. Daily chart has turned first.
  • Long at average equivalent price of 1097 (via GLD ETF).
  • Immediately, there is overhead down trendline resistance at 1150 and 1131.50 (previous support on weekly). If we can break these, then all is well with the long Gold trade.
  • Currently, high negative correlation with China equities.

20 December 2015

SACK LVG

LVG OUT!
USELESS ROONEY!
BLOODY CON JOB!

09 December 2015

When the Air Hits Your Brains: Tales of Neurosurgery by Frank T. Vertosick Jr

  • Excellent excellent book,  highly recommended, especially the chapter titled "Rebecca".
  • Goodreads book description here.

17 November 2015

16 November 2015

John Cleese on The Late Show with Stephen Colbert


EUR/USD : Downside Target 1.01

  • Consolidation since 1.0461 low in Mar15 seems over now and has downside resumption for real. Double top neckline at 1.0808 broken and stayed below for 2nd week now = confirmation of downmove.
  • Appx target = 1.08 - (1.15-1.08) = 1.01

11 October 2015

09 October 2015