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% | 98 AUDUSD 9% | 96 USDJPY 7% | 82 GBPUSD 7% | 78
akyong akyong PRO EURUSD, D,
EURUSD: EURUSD - More Upside?
462 0 8
EURUSD, D
EURUSD - More Upside?

Macro wise, we have quite a number of risk events for the Euro this week. Technical wise, we are currently seeing a corrective move on both Daily and 4-hourly timeframe. As long as price continue to develop corrective lower towards 1.1369 - 1.1575 area, we are still expecting one more move to the upside once this corrective move is completed.

akyong akyong PRO DXY, D, Education
DXY: Practical Exercise - Identify 2nd Market Scenario
122 0 6
DXY, D Education
Practical Exercise - Identify 2nd Market Scenario

Understanding that market moves in an impulse or corrective nature, we can now further categorise market moves into 3 scenarios. Here we will illustrate the 2nd scenario - an impulse move, followed by another impulse move. Practical Exercise 1) Find an example of such scenario in the market. It can be any currency pair, any timeframe. 2) Record down what's the ...

akyong akyong PRO AUDUSD, 60, Long
AUDUSD: AUDUSD - We got the first impulse move up
315 0 8
AUDUSD, 60 Long
AUDUSD - We got the first impulse move up

Following up from our latest post on AUDUSD, we got the first impulse move up after price met the minimum target area around 0.7827 on the lower timeframe. Our bias still remains to the upside, and we are now looking for opportunities to scale in, increasing our profit potential, yet at the same time reducing our risk. *These posts are meant to be educational, ...

akyong akyong PRO EURCAD, 240, Short
EURCAD: EURCAD - A reversal soon?
244 0 5
EURCAD, 240 Short
EURCAD - A reversal soon?

Will EURCAD repeat what it has done back in early June? We are seeing a similar pattern forming recently - 1) Price has been inching higher with a loss of strength and momentum; 2) We are seeing a divergence in RSI and price; and 3) Price is entering the minimum expected area of wave 5. All these factors gave us the expectation that price has a higher ...

akyong akyong PRO AUDUSD, 240, Long
AUDUSD: AUDUSD - Bias remains to the upside
403 0 8
AUDUSD, 240 Long
AUDUSD - Bias remains to the upside

Next week we have two Aussie related risk events - the RBA Monetary Policy Meeting Minutes on Tuesday, and the employment labour data on Thursday. In addition, the strength or weakness of the US Dollar might also provide some form of catalyst for this currency pair. While we do not eliminate the possibility of a further fall in price in the short term towards ...

akyong akyong PRO DXY, D, Education
DXY: Practical Exercise - Identify 1st Market Scenario
162 1 8
DXY, D Education
Practical Exercise - Identify 1st Market Scenario

Understanding that market moves in an impulse or corrective nature, we can now further categorise market moves into 3 scenarios. Here we will illustrate the 1st scenario - an impulse move, followed by a corrective move. Practical Exercise 1) Find an example of such scenario in the market. It can be any currency pair, any timeframe. 2) Record down what's the ...

akyong akyong PRO DXY, D, Education
DXY: Practical Exercise - Identify Impulse and Corrective Moves
222 2 11
DXY, D Education
Practical Exercise - Identify Impulse and Corrective Moves

Market moves can generally be categorised as either an IMPULSE move or a CORRECTIVE move. A fast and strong move is described as an IMPULSE move. A slow and weak move is described as a CORRECTIVE move. Practical Exercise 1) Pick any currency pair, any timeframe, and identify the IMPULSE and CORRECTIVE moves on the chart. 2) Draw a line on the IMPULSE move; ...

akyong akyong PRO EURAUD, 240, Long
EURAUD: EURAUD - Will RBA weaken the Aussie this week?
285 0 10
EURAUD, 240 Long
EURAUD - Will RBA weaken the Aussie this week?

The Aussie has been rallying strongly since the last RBA Rate Statement, and coupled with the weakness on the US Dollar, the AUDUSD has gained more than 6% in the last 30 days. As often stated in the RBA Rate Statement, rising Aussie will complicate the economic transition. Given the RBA is meeting this week, will they send out a dovish tone to push the Aussie ...

akyong akyong PRO EURGBP, D, Short
EURGBP: EURGBP - BOE might be the catalyst for this
381 0 9
EURGBP, D Short
EURGBP - BOE might be the catalyst for this

This week the top 3 currencies to focus on will be the AUD, GBP and USD. Looking at EURGBP, price has reached the minimum expected area for an expanded flat structure, forming the X structure of a higher degree. Coupled with the RSI divergence and crawl move of the price development, we are in anticipation that a down move is coming soon. For this, we will be ...

akyong akyong PRO GBPUSD, 240, Short
GBPUSD: GBPUSD - Short term targeting 1.2985
349 0 7
GBPUSD, 240 Short
GBPUSD - Short term targeting 1.2985

We don't get any good swing setup this week. Thus we shifted our focus towards equities market as well as intraday trades on the currencies. As a trader, we need to be versatile and adaptive towards what the market is presenting to us. No point forcing a trade just because we needed to take one. Having said that, GBPUSD is currently presenting a decent very short ...

akyong akyong PRO WFC, D, Short
WFC: Wells Fargo - Short Term Sell Opportunity
175 0 8
WFC, D Short
Wells Fargo - Short Term Sell Opportunity

The currencies market has been slow the last two weeks. This is where having a stock/equities portfolio comes in play. Short term wise, we do have a sell opportunity on Wells Fargo, WFC. Fundamental analysis 1) Revenue has been growing, but net income has been falling; 2) Operating cash flow and FCF dropped drastically; and 3) Both ROA and ROE has been ...

akyong akyong PRO DXY, 240,
DXY: DXY - Make or break this week
290 0 5
DXY, 240
DXY - Make or break this week

The US Dollar has been under pressured for the whole of 2017 even with the rate hike from the FED recently. The sentiment in the US and thus the Dollar remains bearish especially with Trump as the president and his administration. Looking at the weekly perspective of the Dollar Index, 89.62 remains a key level for the dollar. A break below this level will ...

akyong akyong PRO GS, D, Short
GS: Goldman Sachs - Not looking good...
196 0 11
GS, D Short
Goldman Sachs - Not looking good...

If you are looking for a large cap stock to short, Goldman Sachs might just be a good one to look at. Fundamental The fundamentals for Goldman is showing signs of concern - 1) Revenue has been falling for the past 3 years; 2) Net income has been hovering without growth for the past 5 years; 3) Operating and free cash flow has been falling for the past 2 ...

akyong akyong PRO USDCAD, 240,
USDCAD: USDCAD - Still bearish bias, but not time to sell
424 2 13
USDCAD, 240
USDCAD - Still bearish bias, but not time to sell

I'm still holding a bearish bias on USDCAD. In fact, as shared in my earlier post on this pair, I'm holding a sell bias on USDCAD for the rest of 2017. However, that does not mean I'm just gonna short this pair at any price. To have a profitable trade, we need to get the following right - 1) Direction 2) Time of Entry 3) Time of Exit If any of these doesn't ...

akyong akyong PRO EURJPY, 240, Short
EURJPY: EURJPY - Draghi to deliver a dovish press conference tomorrow?
427 1 14
EURJPY, 240 Short
EURJPY - Draghi to deliver a dovish press conference tomorrow?

The Euro has been gaining a lot of strength in 2017 since the possibility of potential taper in 2018. Coupling with the weakness on JPY, we have seen EURJPY rallied over 13% from the low at 115 in April to the high at 130.60 recently. On the daily timeframe, we have seen price reaching the minimum fibonacci extension expectation, and thus believing that we might ...

akyong akyong PRO DIS, D, Long
DIS: DISNEY - Accumulation Opportunities around 101.20
196 6 7
DIS, D Long
DISNEY - Accumulation Opportunities around 101.20

I've been scanning the US equities market for some interesting companies to accumulate. Disney caught my attention. Fundamental The fundamentals for Disney is very strong - 1) Revenue has been growing for the past 5 years; 2) Net income has been growing for the past 5 years; 3) FCF has been increasing for the past 5 years; 4) Net margin has been increasing ...

akyong akyong PRO USDCHF, 240,
USDCHF: USDCHF - Are we seeing a potential reversal soon?
385 0 11
USDCHF, 240
USDCHF - Are we seeing a potential reversal soon?

We have been seeing the US Dollar weakens since the start of this year. USDCHF has been falling from the high of 1.0300 to the recent low of 0.9500 area. Are we going to see a potential reversal soon? Based on the wave analysis, the recent price development seems to be showing signs that we can expect a move to the upside soon - either as a deeper retracement, or ...

akyong akyong PRO USOIL, 240,
USOIL: USOIL - Up first then down?
442 2 16
USOIL, 240
USOIL - Up first then down?

First thing first, while I monitor the commodities market, I mainly trade the currencies market only. So this analysis is done for some of our traders who trade this commodity :) Purely based on technical wave analysis - 1) I'm seeing a potential WXY structure forming on the H4 timeframe. Price is showing more upside potential towards 48.87. Short term might ...

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