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    Default Trading ideas from Trade It Simple

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    GBP/NZD 4H

    Exchange rate has broken a neckline of inverse head and shoulders pattern, after rebounding from a 50% Fib retracement connecting all time lows and last year's high.

    I am going long at market at 1.9564 after a succesful neckline test as the new support.
    Setting my stop at 1.9385 and targeting 2.0000 and 2.0250

    Martin Janson
    Last edited by Jess; 04-22-2014 at 01:55 AM.

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    SYMMETRICAL TRIANGLE ON EUR/JPY SCREAMS FOR IMMINENT BREAKOUT

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    EUR/JPY DAILY

    Bank of Japan is likely to keep it's monetary policy unchanged in tonight's interest rate decision. Yet traders are ayeing the BoJ’s statements to gauge the likelihood of future policy changes. Japan’s central bank governor Haruhiko Kuroda made it clear that officials do not anticipate the need for further monetary policy easing at the BoJ’s last policy meeting.

    But the unimpressive rise in exports despite a weak yen, paired with the fact that the inflation numbers post the tax hike came out bellow expectations has risen some doubts about Kuroda's policy from bank's board members.

    At the same time the exchange rate for EUR/JPY has gone even further into the triangle formation and will likely break out some time this week.

    Any hawkish comments in the statement could break down the rate but for any shorts we will need a close bellow 140.00

    On the upside any hints about further easing from BoJ could fuel the rate to continue it's uptrend, but a close above 143.50 is needed to take a long position.

  3. #3
    FOREXunlimited's Avatar
    FOREXunlimited is offline Superior Master Contributor and Member
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    Quote Originally Posted by TradeItSimple View Post
    SYMMETRICAL TRIANGLE ON EUR/JPY SCREAMS FOR IMMINENT BREAKOUT <img src="http://forums.babypips.com/attachment.php?attachmentid=61151"/> EUR/JPY DAILY Bank of Japan is likely to keep it's monetary policy unchanged in tonight's interest rate decision. Yet traders are ayeing the BoJ’s statements to gauge the likelihood of future policy changes. Japan’s central bank governor Haruhiko Kuroda made it clear that officials do not anticipate the need for further monetary policy easing at the BoJ’s last policy meeting. But the unimpressive rise in exports despite a weak yen, paired with the fact that the inflation numbers post the tax hike came out bellow expectations has risen some doubts about Kuroda's policy from bank's board members. At the same time the exchange rate for EUR/JPY has gone even further into the triangle formation and will likely break out some time this week. Any hawkish comments in the statement could break down the rate but for any shorts we will need a close bellow 140.00 On the upside any hints about further easing from BoJ could fuel the rate to continue it's uptrend, but a close above 143.50 is needed to take a long position.
    You should source your content when using direct quotations.

    http://www.dailyfx.com/forex/fundame...and-NFPs-.html
    http://www.forexcrunch.com/usdjpy-fo...-apr-28-may-2/

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    LOOKING TO GO LONG GBP/NZD AGAIN
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    GBP/NZD DAILY



    Last week I went long on this pair after inverse head and shoulders pattern.

    As I usually do, I set my first target for the same amount of pips as my risk and after my target was hit I raised my stop at break even point.
    Price continued falling and I got stopped out so I am looking for opportunity to go long again.



    Exchange rate has made a hammer candlestick on a daily timeframe at the 61.8% retracement from this years low. Also the rate is sitting above a short term trendline.

    In couple of hours the New Zealand employment data are coming out and if there are no upside suprises I will be looking to go long if price breaks the hammer's high at 1.9436.



    In this scenario I will be targeting 1.9750; 2.0000 and 2.0250.



    On the other hand - better than expected employment figures could send the rate lower towards the huge range lows around 1.9100.

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    yeah. it is simple we can get it. we can get more money

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    EUR/USD DAILY



    As the exchange rate has broken rising trendline and the double top's neckline at 1.3690 I believe that the longer term downtrend has resumed again and I am going short at the market at 1.3670. I am putting very wide stop at 1.4020 and target 1.3500 ; 1.3300 and ultimately 1.3000.



    I am entering with only a half position now though, as I am waiting for Euro zone inflation figures to come out and will be shorting the other half on the daily close.



    In the last ECB meeting Mario Draghi made a hint about stimulus in their next meeting in June which could help to drag Euro down.

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    servicehyun is offline Newbie
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    Nice what a great moves, How many pis did you earn from this move

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    Quote Originally Posted by servicehyun View Post
    Nice what a great moves, How many pis did you earn from this move
    To be honest - because of me being so conservative (meaning I quickly put my stop at break even) I haven't realized the full potential of these trades,
    I earned 178 pips for my first GBP/NZD trade
    138 for my second GBP/NZD trade
    and I am still holding really small short EUR/JPY position for 182 pips
    As for the latest EUR/USD trade I don't think I will be booking profits any time soon.

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    WHY do you not supply signal ? i see i think you can post your signal. many trader can refer it.

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    Quote Originally Posted by buterfly View Post
    WHY do you not supply signal ? i see i think you can post your signal. many trader can refer it.
    I post my trades online almost instantly using facebook and twitter. I am not sure if I can post links to them but you can just search Trade It Simple

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