The Koala System Review - Week of 28 June 09

Pretty good week for the Koala System.

2 circles are perfect setups with lots of pips to be collected.

Am still trying to find out how can we identify trends faster.

M30 is sometimes too late to catch the party.

Let me know if you are enjoying success from this .. happy folks make me happy too !

The Koala System Review - Week of 28 June 09

Downside pressure?

I feel it is rather significant that the EUR/USD closed below 1.4000 on Friday.

Usually, the price will spring back to around 1.4000 when closing.

However this time, it moves lower instead.

I feel there may be downside pressure to this.

Alternatively, it can simply be due to the low volumes from a US holiday.

However, with the drop in oil and S&P500, i am rather downwards inclined.

I hope to target my previous trendline if nothing unexpected pops up.

Downside pressure?

And finally the support is broken.

After multiple testings, the support indeed gave way. The drop was quite a bit. Almost towards 1.3900.

If you were following oil and S&P , these were the clues.

US is on holiday today. Expect the unexpected.

I am short on the EUR/USD based on my Koala system. However, with regards to the uncertainty, my position size is small.

And finally the support is broken.

Support line still respected. News coming.

The support line is still in play.

However, i tend to feel that the more a support line is being tested, the more likely will it be broken.

Oil is currently down a few dollars from $70 and S & P futures is red too.

ECB minimum bid rate is out in 15 minutes time. Non-Farm Employment Change for US is due later too.

When the dust settles, we may have a new insight.

Support line still respected. News coming.