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Time to go Long on AUD USD

ritesh Publicado 11 Ago  en #Trader's blog
#1: Buy AUD/USD at 0.7279 for a target of 0.7411
#2: Stop Loss is 0.7230 (50 Pips) and Reward will be 130 Pips.
Its not a great setup, still better as per probability perspective.
This is a pure price action trade plan. The rectangle shown in chart below is the demand zone.
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EUR AUD

ritesh Publicado 6 Ago  en #Trader's blog
As we can see on the chart the 1.50000 level is quite crucial. The last downward (big red candle) was from the same level. I expect the price to bounce up to 1.50000 before making any downward movement. This seems to be a 120 pip trade from here. Happy trading!
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EURo GBP - Sell and dwell

ritesh Publicado 3 Ago  en #Trader's blog
Resistance in the 0.7225 area is expected to generate selling interest for a move lower toward initial targets near the 0.6930 range lows. A break below 0.6930 would encourage our bearish view and signal further weakness toward our greater targets in the 0.6770 area (EFN).
The chart clearly suggests that pair can easily move down to 0.6770 support areas, current price as shown is near green line on monthly chart and we should sell on bull candles (when price touches envelope high on hourly char
…
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Autumn to bring strength in MXN till year end

ritesh Publicado 13 Jul  en #Trader's blog
Hola! This chart shows USD/MXN currency pair on a weekly time frame. Further based on a top-down analysis, the monthly chart is revealing some exhaustion. The weekly chart shows anti-persistence along with a positive divergence. Will this strength of USD continue? My opinion is that autumn will start the cycle of favorable results to the shorts on this pair. Before this downmove may start, we should be able to see 16.02 level (being the upside of envelope) on a daily closing basis. Once the leve…
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ViewPoint: Loonie and Yen

ritesh Publicado 7 Jul  en #Trader's blog
Hello Fellow Traders,
Here's an interesting setup upcoming on CAD/JPY.
Based on the review of daily chart, it clearly suggests that price has bounced from the demand zone of 95.70 - 94.70 area. If we see the fall from 100.50 area, which has one stop in midway (at 97.90 price level), there is otherwise no stopping. Henceforth, this pair is poised to go higher from 95.20'ish price level, towards 100.60, approximately 550 pips upmove with a risk of 50-80 pips.
This is all for now, thanks for readin…
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The Euro Preview

ritesh Publicado 6 Jul  en #Trader's blog
As visualized by below chart, it seems that Euro is currently (at the time of writing) retesting the breakout level of 1.10833. The support line was broken Monday morning after news from Eurozone and Greece. This is a daily time frame chart.
If the EUR/USD market respects this support line, then we should see a downward trend on this currency pair for rest of the days. However, its worth taking note that:
1) Approximately, 70% of breakouts are false.
2) We can participate in Breakouts, only upon…
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ritesh 7 Jul

This trade is playing out, stuff is visible distinctively on 30-minute time frame charts as well. :)

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Good to be back.

ritesh Publicado 1 Jul  en #Trader's blog
Looking forward to currency market after around 4 years. After 2011, I was unable to visit here frequently or be a part of this wonderful initiative to connect the financial enthusiasts around the world. Would be nice to connect with our old friends on Dukascopy platform. Lots of contests are added, will take out time to review the variety. Thanks for keeping this consistent for enabling all of us to join (and re-join).
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DumbAsArock 8 Jul

Good to have you back!

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US Oil all set to run up to 121

ritesh Publicado 3 Nov  en #Trader's blog
There is a beautiful trade setup on US Oil on monthly chart.
I wish we could trade it on Demo Contest here.
Technical Details of the Setup:
The Monthly Chart of US Oil, currently trading at 79.87 at the time of writing this blog entry, clearly suggests that is all set to go high, of course after finding a bottom at around 71 to 79 area.
Stop Loss: $64
Entry: $71-79 (Scale In at 77.5 and 71)
Target: $121 (Scale Out at 91, 105, 112 and 121)
Risk to Reward: Upto 1:7
Current Week Review: US Oil got …
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ritesh 3 Nov

So basically, ATM, I'm net US Short. :)

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