akyong

PRO
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About me Kar Yong is open to connect with you and enjoys helping people in forex trading. He doesn’t profess to know everything, but is always happy to chime in and help with his experience.
Joined Singapore angkaryong
To be the trading community with a tenet of passion and commitment for trading and investing.
Markets Allocation
86 % forex 4 % indices 1 % commodities 9 % other
Top Mentioned Symbols
EURUSD 9% | 96 AUDUSD 9% | 92 USDJPY 8% | 82 GBPUSD 7% | 77
akyong akyong PRO NZDUSD, D, Short ,
NZDUSD: NZDUSD - RBNZ to be the catalyst to push the Kiwi lower?
727 5 24
NZDUSD, D Short
NZDUSD - RBNZ to be the catalyst to push the Kiwi lower?

This week there are relatively less risk events in the currency market - the only one worth highlighting is RBNZ Rate Statement happening on Thursday morning here in Singapore. Here are a few reasons why I'm expecting the Kiwi to weaken in the near term - 1) We are currently in a 6th swing, thus we are expecting one more move lower since this is not a complete ...

akyong akyong PRO STI, D,
STI: STI - A retracement or a reversal?
261 0 10
STI, D
STI - A retracement or a reversal?

The first half of 2017 has been a good run for the Singapore stock market - Straits Times Index (STI), gaining over 300 points. However, we believe that a retracement or a reversal to the downside is imminent. The question is are we gonna see a retracement or a reversal? Retracement Price moves correctively, usually taking a longer period of time, and does not ...

akyong akyong PRO GBPUSD, 240,
GBPUSD: GBPUSD - Don't Rush Into It
571 4 15
GBPUSD, 240
GBPUSD - Don't Rush Into It

After a sell off in the UK Pound from the election last week, we saw a hawkish BOE this week. Well... another flip flop in the market that might have left traders confused. Here's my perspective on GBPUSD - I believe we still have more down side for this pair, perhaps towards the 1.2510 area. Technical analysis wise - 1) We have a bearish impulse formed, and ...

akyong akyong PRO EURUSD, 240,
EURUSD: EURUSD - A fall in imminent?
558 2 18
EURUSD, 240
EURUSD - A fall in imminent?

With all the news and risk events that took place yesterday - a worse than expected CPI and retail sales, followed by a hawkish Yellen - some traders might have experienced some losses due to the 180 degrees change in sentiment; while some may have been left confused on the outlook of the US Dollar. We shared this analysis on the US Dollar Index before all the ...

akyong akyong PRO EURCAD, 240,
EURCAD: EURCAD - What's Next?
200 2 14
EURCAD, 240
EURCAD - What's Next?

Last week, we posted an analysis EURCAD - At Decision Point: Break down or one more up? Price didn't break down immediately with the risk events from Oil Inventories and ECB Press Conference, but earlier this week, with the un-scheduled news release from Bank of Canada (BOC) stating a potential rate hike strengthened the CAD significantly, pushing EURCAD lower as ...

akyong akyong PRO DXY, 240,
DXY: US Dollar - Make or break this week
378 2 10
DXY, 240
US Dollar - Make or break this week

The US Dollar (DXY) is in a decision point area where we see two high probability scenarios - 1) A reversal to the upside 2) A massive break down to the bottom The 96.00 level will be the key for the Dollar Index. For now, we are expecting the 1st scenario to have a higher probability of happening; and with the number of risk events from the US side this week, ...

akyong akyong PRO GBPUSD, 240,
GBPUSD: GBPUSD - Wait Wait Wait!!
358 0 11
GBPUSD, 240
GBPUSD - Wait Wait Wait!!

After yesterday UK election, we saw a sell off on GBPUSD. What's next? WAIT!! AND DO NOTHING! We will be waiting for more confirmation to scale in on this position. Having said that, that's our methodology and approach towards the market. What's important is you need to have your own trading plan and follow it to engage the market. Share with me your ...

akyong akyong PRO EURCAD, 240,
EURCAD: EURCAD - At Decision Point: Break down or one more up?
407 0 17
EURCAD, 240
EURCAD - At Decision Point: Break down or one more up?

Tonight's US Oil Inventory and tomorrow ECB press conference will potentially be the catalyst to move this pair. What we are seeing now - 1) Price is forming a diagonal structure 2) Price has entered the potential reversal zone between 123.6% to 161.8% fibonacci level 3) An RSI divergence A technical break of the lower trend line of the diagonal structure will ...

akyong akyong PRO USDJPY, 240,
USDJPY: USDJPY - Potential Upside Reversal
380 2 16
USDJPY, 240
USDJPY - Potential Upside Reversal

As long as the following conditions met, we have a good opportunity to take an upside reversal trade - 1) Price does not fall below 108.36 area 2) Price respects the level between 109.08 to 109.56 3) Price shows up a strong impulse move up (as a confirmation) It's currently NOT yet ready to long. As always follow your plan and trade you plan.

akyong akyong PRO EURAUD, 240, Short ,
EURAUD: EURAUD - Short Term downside
376 9 9
EURAUD, 240 Short
EURAUD - Short Term downside

A good opportunity to short this pair for the short term with the following confluences - 1) We have an RSI divergence 2) We have a technical wedge pattern 3) We have a completed 3rd wave structure between 161.8% and 200% extension

akyong akyong PRO AUDNZD, 240,
AUDNZD: AUDNZD - Expecting A Decent Retracement
199 0 8
AUDNZD, 240
AUDNZD - Expecting A Decent Retracement

Price fell sharply last two weeks and we are now expecting a retracement to the upside with the following confluences - 1) A completed higher degree WXY 2) A completed smaller degree WXY 3) A completed Bat pattern 4) A RSI divergence formed All these give us the confluences that we might see a decent pull back to the upside for AUDNZD. Quiz: With this ...

akyong akyong PRO NZDUSD, 240,
NZDUSD: NZDUSD - Potential Reversal Trade
200 2 7
NZDUSD, 240
NZDUSD - Potential Reversal Trade

Price is currently approaching the a key area between 0.7145 to 0.7220 where we have the following confluences - 1) A potential completion of an expanding flat structure 2) A potential completion of a shark pattern 3) A RSI divergence formed All these gave us the opportunity to look for a potential reversal to the downside on the Kiwi. What are your views on ...

akyong akyong PRO AUDUSD, 240,
AUDUSD: AUDUSD - The Power of Confluences
351 3 12
AUDUSD, 240
AUDUSD - The Power of Confluences

Next week, we will be looking for short opportunities on the Aussie around the 0.7600 area. Few confluences: 1) We have a WXY structure based on Elliott Wave analysis 2) We have a Gartley and Butterfly pattern completing around that area 3) We have a psychological number of 0.7600 4) We have RBA Rate Statement this week All these lined up to give us some good ...

akyong akyong PRO USDJPY, D,
USDJPY: Japanese Yen (USDJPY) May 2017 Overview
216 0 10
USDJPY, D
Japanese Yen (USDJPY) May 2017 Overview

With geopolitical tension rising in the Asia, the Japanese Yen benefitted from its safe haven status in the second half of May, gaining around 400 pips in one week. The Japanese large positive external balance as well as huge international investments have driven yen’s demand even further, which mark the strength at 110 against the dollar – down from May’s high ...

akyong akyong PRO GBPUSD, D,
GBPUSD: Pound (GBPUSD) May 2017 Overview
185 0 10
GBPUSD, D
Pound (GBPUSD) May 2017 Overview

The GBP was heavily influenced by Theresa May’s announcement of a British snap election in June. The aim of the election is to strengthen May’s hand ahead of the “Brexit” negotiation, but the latest polls show that her party’s advantage over the Labour opposition is shrinking. The market could be disappointed if there is no much change in UK’s position regarding ...

akyong akyong PRO EURUSD, D,
EURUSD: Euro (EURUSD) May 2017 Overview
480 6 18
EURUSD, D
Euro (EURUSD) May 2017 Overview

The European currency started the month in sideways trading at around 1.09, in anticipation of the French presidential election results. With Macron’s win, fears about a possible “Frexit” disappeared and the currency moved crossed the 1.10 mark. The recent positive sentiment on the Euro is supported by the latest Euro Commitment of Traders (COT) report as well. ...

akyong akyong PRO DXY, D,
DXY: US Dollar (DXY) May 2017 Overview
110 0 7
DXY, D
US Dollar (DXY) May 2017 Overview

The USD didn't manage to strengthen against the Euro, despite the Fed's announcement of a tightening in monetary policy over the next few months. The dollar struggled to maintain the strong rally it saw in the immediate aftermath of the US presidential election last year. Trump's slower than expected implementation of policies, such as tax cuts and fiscal ...

akyong akyong PRO USDJPY, 240, Long ,
USDJPY: USDJPY: Short term long opportunity
306 1 13
USDJPY, 240 Long
USDJPY: Short term long opportunity

We might very well see a short term long opportunity towards 112.36 area before the sellers come in.

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