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Recent NZD CAD 120-PIP Trade & GBP CHF

DaddyPapi Posted 18 Mar.  in #Trader's blog #4H Chart #Daily #Trade #Breakout #Consolidation
A bullish trade was made on the NZD CAD after it started breaking out from the large Daily Consolidation setup. The Breakout started on March 7 as the bullish candle formed above the 0,9211 Resistance to move north by 200 pips.
DAILY CHART - NZD CAD

The entry took place using the 4H Chart when a breakout took place from a pennant. Entry took place at the close of the candle with stop loss just below support and the limit set for 120 pips- the area at which the breakout was expected to end given…
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TRADE THEM NOW- EURO CAD & CAD CHF

DaddyPapi Posted 19 Feb.  in #Trader's blog #Breakout #Consolidation #Correlation #200 Pips #4H Stop Loss
Once again, we have an opportunity to trade two currency pairs simultaneously to take advantage of the strong correlation that exists between them. In this case, the CAD CHF and the EURO CAD could be given us strong signals on the Daily Chart that point to gains of several hundred pips by next week.
The correlation between them was shown in one of my previous posts and this current setup today will be another one to provide pips trading them together. Both formed Consolidations on their respecti…
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EURO EURO, WHERE GOETH THOU EURO?

DaddyPapi Posted 14 Feb.  in #Trader's blog #Breakout #Consolidation #Crown #Euro USD
Over the last several weeks, the EURO USD has been meandering at the top of a Major Resistance point, forming a fairly large range on the Daily Chart. This area of uncertainty coincides with the Resistance of the Weekly/Monthly Chart´s large Pennant that was formed in the aftermath of the risk-aversion buying of the USD during the Financial Crisis. The crossroads is completed by an uptrend line (in blue) that has defined the direction of the currency since July 2013.
DAILY CHART

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GBP SOARS ON EMPLOYMENT GAINS

DaddyPapi Posted 23 Jan.  in #Trader's blog #GBP USD #Daily #Breakout #Entry Setup
The surprising drop in the number of unemployed persons in the UK sent the unemployment rate down to 7.1%, close to the 7.0% level at which the Bank of England says it would consider raising interest rates. The GBP USD reacted with gains against the USD, pushing the currency above the Resistance of 1.6450 of the Daily Chart´s Range (Support 1,6300). With the prospect of widening of the interest rate differential in favour of sterling, the currency could gain significant ground in 2014.
Short-t…
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GBP USD Range Breakout

DaddyPapi Posted 1 Jan.  in #Trader's blog #Breakout #Consolidation #Pennant #Range
GBP USD looks set to start the new year on high with a rally looking to take place in the next few days. Daily Chart was moving within a range, Resistance 1,6460 and Support 1.6319 and just broke the Resistance with a bull candle. This could take the GBP to at least 1,6900 by the middle of next week. This is a significant breakout, because its also breaking out from a much larger Consolidation that was formed after the reaction to the Financial Crisis of 2008 and the safe haven buying of the US…
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AUD JPY SETUP

DaddyPapi Posted 17 Dec.  in #Trader's blog #Breakout #Consolidation #Candle
The Daily Chart has just broken the Support of its large range with a bearish candlestick. This indicates the start of a sharp downtrend breakout that could take the pair to 88.00 in the next few days. The Range is defined by the Resistance at 94.17 with Support at 92,30.
This Range is also the Right Shoulder of a Head and Shoulders pattern seen on the Daily Chart. The Left Shoulder was formed at the Resistance 94,47 on September 19, 2013 and the Head at Resistance 95,67 on October 22, 2013
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