Well folks what we have here is a beautiful short setting itself up if price decides to make its way up to the .382 Fib Level which is also the previous structure support at the psychological round number of 1.5000. If price does make it's way up to that area then I will go down to the lower time frames (4HR / 2HR / 1HR) to find confirmation of price being...
Well, another simple trade idea right here. Jotted down some notes on the chart, but overall what I'm looking for is a break below the current support area at 1.3790. A break below will give me a short entry signal with overall price targets being the next area of support in the 1.3100 area which is roughly 700 pips down =). Any rejection of support will make me...
Well, just as the previous post on this pair, we may have another buying opportunity setting itself up! I will be looking for long entries within the area of the .50 (11.8770) & .618 (11.7583) Fib Retracements, with stops slightly below the .618 Retracement. Targets will be the Fib Extensions (-.27 and the -.618). Happy Trading =)
Update** There has yet to be a break above resistance, so no positions taken ATM. Waiting for a break above 121.50-80. Patience for now. =) Well i jotted down the trade notes on the chart, everything is pretty cut and simple. One area to keep your eye on is the area highlighted in red in which the BoJ did release a statement of defending the Yen on Nov. 2014....
Well decided I would put out a clear definition of how simple my style of trading is (Some call it Supply/Demand trading, others structure trading, for me I just call it support / resistance trading... doesn't really matter as long as it works). What I do is simply find areas of support and resistance and wait for breaks of those areas, and an ensuing retest of...
Update ** Short Biased on Cable. Next Weekly Support area at 1.4200 Well based on chat over the couple days there has been an increase in volume in individuals considering shorts pretty soon on the Cable (Including myself). But what makes me hesitant is the widening spread between Brent / WTI Crude, with Brent moving back above the physiological $60.00 Level....
Well this is a really simple trade, wrote down all the notes on the chart. Very clear and easy to follow, If P/A does dictate a long opportunity down at support I will be looking to grab about 200-250 Pips from this trade. Keep in mind if you hold NZD/USD pairs that this is also an NZD pair so it is highly correlated. Also if you bring this chart up to a Weekly...
Well what we have here is another beautiful rendition of trading based off of structure levels and trend following. Hmmm, I wrote down some notes on the chart to explain some of the technical attributes of the pair. I will be looking for a long opportunity on P/A reaching confluence of the lower boundary of the channel and the .50 Fibonacci level. With stops set...
-Trade Update ** I was stopped out =( by NZD weakness spilling over into the Aussie. Can't Win them all, only thing we can do is identify the mistake, move on, and adjust another plan of action. =) Well I jotted down some notes on the chart to explain certain areas of the chart for you. P/A has formed a "Bearish Channel" on the 4HR chart. So you can look for...
***Update: I'm pleased to say P/A seems to be headed to the area that I would like to short, which is the .618 Retracement =) Wrote down a couple notes on the chart. The Fibs are drawn from the previous high before the drop to the lower low, as we see the .618 Fib lies within the Daily Chart's 50 Moving Average, so a short entry would be preferable for me in...
Price has been contained within an ascending triangle with a break above 54.05 exposing the 60.00 area. And a break below will meet resistance at the .618 Fib as it has supported price twice already. A break below the .618 Fib would expose the 44.00 area. Area's of note: Provided also is Brent Crude (UKOIL) and as we can see the spread between Brent and WTI has...
Here we have a potential short and long trade setup forming on the chart of U/CAD. Explanation for the short entry is on the chart. For a long entry I will have to see a bullish breakout to the upside with a retest and hold above the Symmetrical Triangle / Pennant. With the TP1 at 1.2600 and TP2 at 1.2800 and another long entry if 1.2800 is broken (But we'll get...
Explanations and some facts about the pair are on the chart. Some details to keep in mind is since this is an "exotic" pair the exchange rate is drastically different than "major" pairs. Also, each candle on the 4hr chart contains about 300-900 pips within them. So gains can be much larger and more quickly attainable than in a "majors" pair, but so are the losses....
Chart is pretty self explanatory, but based off of todays events in the market it became evident that many traders do not keep an eye on separate Indexes as indicators of what to expect, or possible scenarios that can play out in the pairs that they trade. The DXY held at the .618 Fib but the London session could determine whether we see a deeper pullback in USD...
I've provided the technical explanation for the trade on the chart with two profit targets. If you have any questions feel free to ask me, and I will answer them to the best of my ability. =) I have a quote that I find very intriguing and figured I would share it with you guys to ponder over. Consider how this quote relates to trading / investing. Happy trading...
As usual all description / notes are jotted down on the chart =D This is mostly analysis on the pair as price would have to close above the 1.9200 area on the Daily chart for me to start looking for intraday / swing setups on lower time frames such as the 4HR / 1HR charts. Feel free to formulate your own unique trade plan for this pair, while of course using...
Well I wrote the description down on the charts with my take profit areas, and stops. I have not entered the trade yet as I will need a Daily Candle close below 0.8000 before entering the trade. Provided on the chart is the number of pips between structure support levels. Use your own guidelines when entering the trade with proper risk management. I've had this...
Very simple short set-up forming itself, as price started having hesitation once it neared the daily support. All explanation has been noted on the chart. Feel free to form your own trade plan on the trade, based off what you see, and feel free to place stops where you see appropriate =D Happy Trading folks. :-D