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GCAD Long
Hey Traders
Welcome back to last week of the trading month. The GCAD, the bulls have seemingly taken a rest and are waiting for a better price to resume up move. So I will be closely observing this pair to see if I can get a good buy trade.
A support level at 1.66765 seems to be an ideal area for the retracement to stop or price action may refuse to go below 1.67266 and start to go back up...
Let us see
Welcome back to last week of the trading month. The GCAD, the bulls have seemingly taken a rest and are waiting for a better price to resume up move. So I will be closely observing this pair to see if I can get a good buy trade.
A support level at 1.66765 seems to be an ideal area for the retracement to stop or price action may refuse to go below 1.67266 and start to go back up...
Let us see
3rd Week of Competition
Hey Traders,
It's the weekend again. Time for rest, relaxation and a complete unplug from the markets...well atleast for a day or so...Then it's back to review and strategy of the last hoorah....I missed a great opportunity to short the GBPNZD, which would have given me a much needed 100pips.
Have a great weekend
It's the weekend again. Time for rest, relaxation and a complete unplug from the markets...well atleast for a day or so...Then it's back to review and strategy of the last hoorah....I missed a great opportunity to short the GBPNZD, which would have given me a much needed 100pips.
Have a great weekend
Trade Update
Hey Traders
Today was not a good day at all.
GBPNZD buy trade - I moved my SL to break even and the market took me out in a pull back
GCHF buy trade - market hit my SL and I was take out -30pips
GCAD buy trade...ideal entry was 1.67611
My entry 1.67818/ SL 1.67400 / TP 1.69000
Market hit my SL -45 pips.
GU buy trade - entry 1.28581/ SL 1.2838/TP 1.2958. Market hit my SL -21 pips..
That's how it is...will back tomorrow.
Today was not a good day at all.
GBPNZD buy trade - I moved my SL to break even and the market took me out in a pull back
GCHF buy trade - market hit my SL and I was take out -30pips
GCAD buy trade...ideal entry was 1.67611
My entry 1.67818/ SL 1.67400 / TP 1.69000
Market hit my SL -45 pips.
GU buy trade - entry 1.28581/ SL 1.2838/TP 1.2958. Market hit my SL -21 pips..
That's how it is...will back tomorrow.
Long GBPNZD
Hey Traders
I opened a buy trade on the GBPNZD today, here are the details and why I took the trade.
Ideal entry - 1.9223
My entry - 1.92456 SL - 1.9224 TP - 1.9346
Trade rationale - I strongly believe that this pair is in bear sentiment, however if you take a look at the 4hr TF, PA seemingly not interested in moving pass 1.9224 just yet. Therefore I believe it will move up from this area to retest maybe daily structured resistance 1.94300 then resume bearish sentiment.
I opened a buy trade on the GBPNZD today, here are the details and why I took the trade.
Ideal entry - 1.9223
My entry - 1.92456 SL - 1.9224 TP - 1.9346
Trade rationale - I strongly believe that this pair is in bear sentiment, however if you take a look at the 4hr TF, PA seemingly not interested in moving pass 1.9224 just yet. Therefore I believe it will move up from this area to retest maybe daily structured resistance 1.94300 then resume bearish sentiment.
Two Open Trades
Hey Traders
Kindly see details and rationale for two open Trades.
GJ - Long - Entry 141.3/SL 141.0/TP 142.30
This pair has been in a prolonged bear sentiment. A 4hr assessment showed no interest by PA to move below 140.355. TP set at recent strong area of down move
GCHF - Long - Entry 1.2665/SL 1.26345/TP 1.27660
This pair has also been in a prolonged bear sentiment. A 4hr assessment showed no interest by PA to move below 1.26555. TP also set a recent area of strong down move.
Kindly see details and rationale for two open Trades.
GJ - Long - Entry 141.3/SL 141.0/TP 142.30
This pair has been in a prolonged bear sentiment. A 4hr assessment showed no interest by PA to move below 140.355. TP set at recent strong area of down move
GCHF - Long - Entry 1.2665/SL 1.26345/TP 1.27660
This pair has also been in a prolonged bear sentiment. A 4hr assessment showed no interest by PA to move below 1.26555. TP also set a recent area of strong down move.
USD relaxes
Hey Traders
The USD continued today on the momentum/trend being set from the middle of last week with most major currency pairs strengthening. I missed out on two opportunities this morning with -
50 pip EU buy trade - entry 1.13925
100 pip GCAD buy trade - entry 1.66408
I will continue to monitor for any more trade ideas...
The USD continued today on the momentum/trend being set from the middle of last week with most major currency pairs strengthening. I missed out on two opportunities this morning with -
50 pip EU buy trade - entry 1.13925
100 pip GCAD buy trade - entry 1.66408
I will continue to monitor for any more trade ideas...
USD relaxes
Hey Traders
We have reached half way point of the trader contest for August. As the title suggests after 2-3 months of dominating the major pairs the USD has been showing some signs on these pairs that it will be easing it's grip. Please note that most of the majors are now are strong reversal areas. Therefore EU, GU, AU and NU I will be looking at short term longs.
UJ, UCHF and UCAD I will be looking at short term sells.
Have a great weekend all
We have reached half way point of the trader contest for August. As the title suggests after 2-3 months of dominating the major pairs the USD has been showing some signs on these pairs that it will be easing it's grip. Please note that most of the majors are now are strong reversal areas. Therefore EU, GU, AU and NU I will be looking at short term longs.
UJ, UCHF and UCAD I will be looking at short term sells.
Have a great weekend all
UCAD Short
Hey Traders
I am a currently short the UCAD
Strong resistance - 1.317
My entry - 1.31486
SL - 1.31850
TP - 1.30570
Pair analysis...the currency is in a confirmed bear retracement move. PA has tested and respected strong resistance 1.317. a point from which it could go down
I am a currently short the UCAD
Strong resistance - 1.317
My entry - 1.31486
SL - 1.31850
TP - 1.30570
Pair analysis...the currency is in a confirmed bear retracement move. PA has tested and respected strong resistance 1.317. a point from which it could go down
UJ Short Trade
Hey Traders
I made 60+ pips on a UJ short.. here are the details
Pair Assessment Daily Timeframe - UJ currently in a Bear retracement mode after testing and respecting a daily resistance level 113.148. it then proceeded to make a lower high (LH).
It then made a strong bull move to apparently retest a newly formed resistance area 111.458. Failed, formed a reversal candle stick pattern (4hr chart)
Trade taken at this area with SL set above the new resistance area..Trade was successful
I made 60+ pips on a UJ short.. here are the details
Pair Assessment Daily Timeframe - UJ currently in a Bear retracement mode after testing and respecting a daily resistance level 113.148. it then proceeded to make a lower high (LH).
It then made a strong bull move to apparently retest a newly formed resistance area 111.458. Failed, formed a reversal candle stick pattern (4hr chart)
Trade taken at this area with SL set above the new resistance area..Trade was successful