Watch GBPUSD at 1.5780-1.5800. Potential trade setup to go short
NZDUSD is currently facing a strong resistance zone on the daily chart. It is a huge resistance zone of about 80pips from 0.7970-0.8050.
It is hard to pinpoint a safe price to short NZDUSD with a daily chart. As i try to keep my stop losses to 30pips max. So i will be zooming down in the 10mins & 60mins chart everyday to look for a nice price to go short. Will keep this post updated.
In the meantime, take a look at the daily chart.
My next trade is LONG USDCAD. I did not have much success trading this pair over the past few years. Not losing much, but definitely not profiting much either.
Trading a currency pair which is suitable for you is like finding a suitable girlfriend. Either you click, gel, bond with her and can go all the way.
Or you sizzle out, turn cold or lose interest in her and the relationship ends.
Enough ranting. Here are my trade setups.
LONG USDCAD @ 1.0030-1.0050
Stop loss 30pips
1st target profit @ 1.0200 (+150pips)
2nd target profit @ 1.0400 (+350pips)
Many green pips to us if this trade works!!
Hi traders,
I gave a trading call to short GBPUSD on 18th June monday. My target price to short is 1.5780. The highest it went up for last night was 1.5778. Missed by the trade by 2pips!! PURE FRUSTRATION. That is the life of a trader. Trading is mind game, isn’t it so so true!
One of my fav shows is the Amazing Race. It is a reality TV show where 12 teams race around the world. The winner of the final leg wins a cool US$1 million dollars. During the course of the race, sometimes the teams miss their boat, train or connecting by a few minutes. They moan and watch in agony at the pier at their departing boat or the railway station at their train. So close yet so far.
Yesterday that was how i felt. I analyze my trade. Entered my orders. Orders got filled. And i watch with agony as the market took out my stop losses. The market then winked at me, said bye bye FMG, and went 120pips in my direction.
Ahhhh the boat left without me.
Below is my final results on my SHORT NZDUSD position.
Here are my 3 trade previews for this week.
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LONG USDCAD trade as posted earlier is still valid.
-
SHORT GBPJPY
Watch for a key reversal pattern (KRP) on the 1hr or 4hr chart before going short. I will have a higher chance of success if i see a KRP before shorting. KRPs are double top, triple top and head & shoudlers formation.
SHORT @ 126.50-127.00
Stop loss 30pips
Target profit 1 = 125.00
Target profit 2 = 124.00
Target profit 3 = 120.00 (huge support on weekly chart)
Weekly Chart
Daily Chart
4hr Chart
Here is trade 03.
- SHORT EURAUD
Price is currently contained within the falling channel on the daily chart.
SHORT @ 1.2570-1.2620
Stop loss 30pips
Target profit 01 = 1.2470
Target profit 02 = 1.2400
Target profit 03 = 1.2200
Daily
4hr
Many green pips if these trades work! Best wishes traders!
Mon, tues & wed were very quiet days, EURUSD stuck in a 100pips range for 3 days. I have not seen such "ehavior for a long time.
A mind game rule of trading: When market is quiet, it means that the big operators are saving their ammo, therefore be ready for their next big bull and bear shootout. It will come.
I am shorting EURUSD today.
Short EURUSD @ 1.2530-60
Stop loss @ 1.2580-00
Target profit 1 = 1.2450
Target profit 2 = 1.2300
hey,
what are you up to?
are you sharing a method?
or getting investors/students
or… ?
I am sharing my trading method. Just trying to become a more disciplined trader. :13:
Last friday 29th June was a special rocket launch day for the bulls. First, it was the second day of the EU summit. Expectations were low as the market
did not expect any significant rescue plans by the politicans. So when they clobber something together, the markets soar. Second, friday was a combination of 3 things. Month-end, quarter-end and half-year-end window dressing by the institutions. Will the optimism contines this week into the new month or the euphoria evaporates?
Here are my trade previews for 2-6th July.
Trade #1
NZDJPY
Short around 64.20
Stop loss above 64.60 resistance zone
Target profit around 62.50
Trade #2
USDCHF
Long around 0.9340
Stop loss below 0.9300 support zone
Target profit 1 around 0.9550
Target profit 2 around 0.9750
i’ll try it 
that’s good idea there FMG
Best wishes! Which trade or trades you are trying?
May i ask why you are asking? PM me if you are comfortable.
I am learning to trade harmonic patterns. The harmonic patterns come with colorful names, such as butterfly, crab and bat patterns.
I like the simplest one of all, which goes by a simple name, the AB=CD pattern. In order to train my mind to see and recognize AB=CD patterns, i went searching for AB=CD patterns,. I looked for it everywhere. 10mins charts, 1hr charts, 4hr charts and daily charts. And i think i found the largest AB=CD you will probably ever see.
Here it is. The humongous 3000pips AB=CD pattern from AUDUSD daily chart!!
I found a potential lucrative trade for the AUDUSD. When i trade, i try to train my eyes to look for outsized rewards with minimal risks. This trade if it works, may turn out to be one of those with a high reward/risk ratio.
However, AUDUSD is now at 1.0300, which is 100pips away from my entry price. Trading is a mind game. So i will be patient and wait for price to retrace to my buy price.
For those who are into Elliott Waves, there is a potential third wave in the making on the 4hr chart. In Elliott Wave theory, the third wave is never the shortest wave and has the possibility to be the longest wave. If my wave count is correct, this third wave could be the next rocket launch.
I will be putting on 2x my usual position size for this trade. Because if this trade works, i believe it will really fly far far away. However, there is no 100% certainly in trading. So a stop loss is a must.
LONG AUDUSD @ 1.0200-20
Stop loss below 1.0150
Final target profit @ 1.0800 (Take profits along the way at 50, 75 or 100pips interval. Your choice)
One of trading calls i made was to SHORT NZDJPY around resistance zone 64.20-60. If this trading call was taken, we would have netted about 90-130pips for this week. Click on link.
On July 1 Sunday, one of trading calls i made was to SHORT NZDJPY around resistance zone 64.20-60. See post #11. If this trading call was taken, we would have netted about 90-130pips for this week.
I am looking to short EURUSD & GBPUSD for this week’s trading. First up, lets look at EURUSD daily chart. I always start by having a bird’s eye view on the currency pair, through using the longer term chart. In the daily chart, EURUSD is contained in a falling channel.
Zooming in on the 4hr chart. I am looking to short if price retraces to resistance zone of 1.2410-40. Last week, it drop 400pips. Will we see it drop another 400pips this week? Direction of EURUSD is quite clear. I think EURUSD may touch 1.2000 soon. It is just a matter of when.
SHORT EURUSD around 1.2410-40
Stop loss 30-40pips
Final target profit 1.2000