2009/11/16
20091116 – Blog’s immigration
Welcome everybody,
Today the Kisiel2’s Blog has been migrated to a new site:
The main reason for an immigration are features of Blogger, better integration with Google and my curiosity to try an alternative blogging framework. I hope the readers will like it.
All entries were imported; however, moving images is a more tricky and WordPress will stay as an image source for all older posts for now.
Kindly thanks to WordPress.com allowing us to use their platform and great portal!
2009/11/14
20091114 – EURPLN, CHFPLN
The EURPLN has broken daily low of 4.15:
The CHFPLN is below daily support of 2.75:
Both currencies have generated sell signals during this week. However, considering a number of false signals lately, those signals can also be misleading.
We should remember the primary downtrend and use those rallies are only to liquidate our long positions (if we still have any).
Note from 2009/11/14:
Lately I have received a mail with alternative interpretation and I believe it is worthwhile to visualize it here:
Of course, we can use trendlines’ breakthroughs to generate signals; however in my opinion this technique is too subjective.
Let’s take a look how many trendlines (and false breakthroughs) can be drawn:
I would rather rely on Price Action model, which generally leaves less space for interpretation (nevertheless, marking highs/lows can be tricky).
Those are my methods, but if something works good for you then use it. Eventually, every trader has to develop its own strategy.
2009/11/13
20091113
The WIG Index fell -1.11%:
Today’s retracement can be interpreted as a preparation for taking the last high. On the other side, both oscillators are still under trendline and that is a bearish sign.
Nevertheless, before we actually go through resistance or support, our forecasts are only guesswork.
Kisiel2's blog 