About Me

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I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)

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Scilliams Trading Blog

This blog i have designed for a bit of fun, education and sharing of my thoughts in regards to trading the ASX or general equities trading and also FOREX trading. I am no expert and nothing on this blog should be taken as financial advice, it is merely just a tool for myself to share any trading thoughts i have and for people to enjoy reading :)

Tuesday, June 22, 2010

Laying some Cable...

GBP/USD or the cable.

These are my thought when i look at this chart.

Clearly looks like a down trend channel, to me it looks like a 5 wave move that normally could lead into an ABC correction. If it can fib and make a higher low and holds i would be looking to get in for a spot trade and see if we can ride it back up as the USD gets weaker...

gbp 5 wave

gbp abc
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