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
85 % forex 4 % indices 1 % commodities 10 % other
Top Mentioned Symbols
EURUSD 9% | 101 AUDUSD 9% | 99 USDJPY 7% | 83 GBPUSD 7% | 79
akyong akyong PRO EURUSD, 240, Long ,
EURUSD: Buying the EURUSD with a minimum 200 pips potential
912 1 17
EURUSD, 240 Long
Buying the EURUSD with a minimum 200 pips potential

Price has formed an impulse move after the completion of an ending diagonal structure. As long as price remains above the recent low at 1.1669, we can expect another push up minimally towards 1.1984 area, and potentially even breaking the previous high at 1.2094 to complete the larger 5-wave structure. A decent retracement towards 1.1749 - 1.1774 area would ...

akyong akyong PRO AUDUSD, 240, Long ,
AUDUSD: 400 Pips Potential on AUDUSD
702 2 12
AUDUSD, 240 Long
400 Pips Potential on AUDUSD

Price has been falling in a 5-wave structure from the high at 0.8126 to the recent low at 0.7732. According to Elliott Wave Principle, after a completion of a 5-wave structure, we can expect a 3-wave correction. Last week's weakness in the US Dollar has given us the first wave up. Going into next week, with few key risk events coming from the Australia side, we ...

akyong akyong PRO NZDCAD, 240, Long ,
NZDCAD: NZDCAD - Potential Buy Setup
180 0 8
NZDCAD, 240 Long
NZDCAD - Potential Buy Setup

As long as the recent low at 0.8740 holds, our bias remains bullish on NZDCAD. Since the high from 21st September, price has been falling in a corrective nature, and is near completing the minimum expectation around 0.8799 to 0.8847 area. This presents a decent opportunity to look for a long setup, targeting 0.9129 area. *Disclaimer - make sure you have a proper ...

akyong akyong PRO DXY, 240, Short ,
DXY: US Dollar (DXY) - Short opportunity post NFP
226 0 11
DXY, 240 Short
US Dollar (DXY) - Short opportunity post NFP

Last week NFP data surprised to the downside with an actual data of -33k vs an expected 82k. However, the average hourly earnings and unemployment rate were better than expected, coming in at 0.5% and 4.2% respectively. We are holding on to a short bias on the dollar with the following analysis - 1) Price has completed a minimum expectation at the recent high of ...

akyong akyong PRO GBPUSD, 240, Long ,
GBPUSD: GBPUSD - Time for another move higher?
540 0 12
GBPUSD, 240 Long
GBPUSD - Time for another move higher?

Price has been falling since late September from the high at 1.3658 to the recent low around 1.3257 area. Based on our analysis, this recent fall seems to be a corrective down move, potentially a 4th wave of a 5-wave structure. With price finding some minor support between 1.3162 to 1.3257 (a fibonacci confluence between the 61.8 and 50 level), we are now ...

akyong akyong PRO DXY, D,
DXY: More Downside Potential Trading The Dollar Out of NFP
227 2 11
DXY, D
More Downside Potential Trading The Dollar Out of NFP

For the first week of the month, we traders will always be focusing on the US Dollar (USD) simply because we have one of the most important news event on the first Friday of the month – the Non-Farm Payroll (NFP). This economic data measures the change in the number of employed people during the previous month, excluding the farming industry. It is one of the ...

akyong akyong PRO AUDUSD, 60, Long ,
AUDUSD: AUDUSD - A potential long then short
429 1 11
AUDUSD, 60 Long
AUDUSD - A potential long then short

On the higher timeframe, we are expecting more downside potential on the Aussie. However, we might still get a short term long opportunity on AUDUSD looking at the hourly timeframe. Price has been move down correctively, giving us the expectation of one more upside towards 0.8000 area before the bigger downside move. **Disclaimer - ensure you have a proper ...

akyong akyong PRO NZDUSD, 240, Short ,
NZDUSD: NZDUSD - Bearish Bias Going Into RBNZ Rate Statement
293 0 6
NZDUSD, 240 Short
NZDUSD - Bearish Bias Going Into RBNZ Rate Statement

The focus for this week will definitely be on the New Zealand Dollar (NZD), a.k.a the Kiwi. The New Zealand’s central bank – the Reverse Bank of New Zealand (RBNZ) will be releasing their latest Official Cash Rate and the Rate Statement this Thursday. Since the interest rate is expected to remain unchanged at 1.75%, the key will be the tone of the Rate ...

akyong akyong PRO CADJPY, D,
CADJPY: Trading the CAD CPI on CADJPY & GBPCAD
352 10 5
CADJPY, D
Trading the CAD CPI on CADJPY & GBPCAD

Many traders believe or think that when we trade the news, we need to predict what's gonna be actual release for the news; or some might even say it's purely a 50-50 guess work on buying or selling a certain currency pair. THIS IS ALL A MISCONCEPTION! Firstly as traders, we can't and we don't predict what's gonna be the actual release for the news. In fact no ...

akyong akyong PRO GBPNZD, 240, Short ,
GBPNZD: GBPNZD - Time for a reversal lower?
226 0 2
GBPNZD, 240 Short
GBPNZD - Time for a reversal lower?

Price has been rally from the low at 1.7398 since end of July to the recent high around 1.8250 region in a 3-wave structure hitting the minimum targeted expectation. We are now expecting a correction lower potentially towards 1.7853 area. A break below the trend line structure will confirm the downside potential on GBPNZD.

akyong akyong PRO AUDJPY, D, Short ,
AUDJPY: AUDJPY - Looking for short term downside potential
319 0 7
AUDJPY, D Short
AUDJPY - Looking for short term downside potential

Price has rally in a 5-wave structure from the low of 81.50 to the high of 89.42 from April to July this year, and we are now seeing a potential 3 waves correction lower towards 85.48 and 83.96 area. As long as price remains correctively below 89.42, our bias remains to the downside.

akyong akyong PRO UBS, D, Short ,
UBS: UBS - Completion of a leading diagonal?
80 0 7
UBS, D Short
UBS - Completion of a leading diagonal?

Since July 2016, price has been rallying in a 5-wave structure to the recent high at 18.30 in July 2017 in a diagonal structure. RSI has formed a divergence as well, giving us another confluence of a potential retracement lower from here. We are expecting price to correct to the downside towards 15.13 or even lower towards 14.38 area in the short term before ...

akyong akyong PRO C, D, Short ,
C: Citigroup - Expecting a short term correction to the downside
118 2 7
C, D Short
Citigroup - Expecting a short term correction to the downside

Since the start of 2016, price has been rallying in a 5-wave structure to the recent high at 69.81 earlier this year in August. RSI has formed a divergence as well, giving us another confluence of a potential retracement lower from here. We are expecting price to correct to the downside towards 61.60 or even lower towards 56.44 area in the short term before ...

akyong akyong PRO U11, D, Short ,
U11: UOB - Short term downside potential
101 0 3
U11, D Short
UOB - Short term downside potential

For those interested in Singapore equities market, here's one potential setup. Price has been rallying since the low in 2016 @ 16.77 to the recent high in 2017 @ 24.59. Price has developed a complete 5 waves structure, and according to Elliott Wave principle, we are now expecting a potential 3 waves retracement. This gives us a potential short term trade ...

akyong akyong PRO JPM, 240, Long ,
JPM: JPMorgan - Potential accumulation towards 98.38
160 0 6
JPM, 240 Long
JPMorgan - Potential accumulation towards 98.38

Since price rallied from 81.60 in June this year to the recent high in July, price has been in a consolidation phase. We saw a false breakout above the 94.47 high in July before making a recent low of 89.07 in September. This is a typical expanding flat structure according to the wave patterns. Price has too met the minimum expectation area of 123.6 to 161.8 fib ...

akyong akyong PRO EURUSD, 240, Short ,
EURUSD: EURUSD - How will you trade this ECB?
751 1 12
EURUSD, 240 Short
EURUSD - How will you trade this ECB?

In view of this coming ECB risk event, we are going with a bearish bias on EURUSD. Price has formed a 5-wave move since 21st June from the low @ 1.1120 to the high @ 1.2070 on 29th August. This forms the 3rd bullish wave on the higher degree. With the recent price development, we are expecting a retracement to the downside towards 1.1732 area; and we are ...

akyong akyong PRO EURUSD, 240, Education
EURUSD: Practical Exercise - Understanding Fractal Nature
328 4 11
EURUSD, 240 Education
Practical Exercise - Understanding Fractal Nature

Market develops in FRACTALS. Understanding how each timeframe is developing is important in timing our trade entries. When we decide to take any trade, we now have a better understanding and expectation of our trades. Practical Exercise 1) Find an example where the two timeframes' bias are aligned. 2) Find another example where the two timeframes' bias are ...

akyong akyong PRO FB, 240, Long ,
FB: Facebook - A good accumulation opportunity
336 0 12
FB, 240 Long
Facebook - A good accumulation opportunity

Price on Facebook has been consolidating since 27th July after a strong bullish impulse hitting the high at 175.40. As long as price continues to develop correctively towards 162.47 - 164.48 area, we still maintain our bullish bias on Facebook. Fundamental key ratios on Facebook have been strong too - 1) Both revenue and net income has been increasing for the ...

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