Looks like we might have our direction. Price broke down through weekly and monthly S levels last week, then came back to test the area. I’ll be looking to short this pair next week:
Margins - I took the time last night to rank each pair in order of margin requirements, which is a total of 69 FX pairs.
This is based on a mini lot (10,000 units) on a CAD account, which is why most of the CAD pairs require the least.
I included all pairs offered by OANDA, including exotics. These will vary depending on your broker and what country you’re from, but it does show me how much bang I get for my buck.
Some of the exotics use an insane amount of margin:
1 Like
Last week I ranked each FX pair that OANDA offered by margin, in order of lowest to highest (previous post).
This week I decided to look at real-time spreads. The following are in order from lowest to highest. The highlighted pairs are exotics.
Here they are, side by side with last weeks’ margin ranks:
EDIT
These are live spreads, meaning right now. So, this is not accurate and will need to be updated during the NY session.
2 Likes
GBPAUD Weekly - This pair looks bullish. Price has broken through a weekly R level (Green line) and looks to be retesting it:
If it is not a fake breakout then I believe the sky’s the limit with this pair, long term.
I am in a long position based on the Daily and 4hr S level:
OANDA (or maybe TradingView) has decided to change the colours of my orders to make them solid lines instead of dotted, which distract from my SR levels, and I don’t see any option to change them back.
EURUSD Daily - Caught a nice move here, Maybe a bit late, or maybe premature…maybe I’m overthinking it:
I wanted to see price break up through that weekly level (Green line), which it did. However, it’s likely going to retest it next week. I am long so we’ll see what happens. Overall, this has been bearish the last few weeks
.
GBPCAD 4H - Been watching this pair all week, I’m anticipating a short off either the SD or SR areas:
Weekly chart - volitile pair, no doubt, with consistent higher lows. But the price range is slowly being squeezed tighter which could signal a break down at some point:
Might be best to stay away, or set a small position with a very wide SL.
AUDCAD Weekly - It would seem pretty stupid to go long on this pair right now. However, price is at a major S/R level on the weekly chart, which might signal a bounce up. Even the strongest trends need a break:
The more obvious play would be short, down to the next major level. This pair is definitely one to watch over the next few days/weeks.
2 Likes
AUDJPY Weekly - Another strong trending pair that looks ready for a pullback. AUD took a beating this week, but price is approaching my monthly S area (blue line):
I’m gonna say AUD is ready for some relief, just look at the momentum this week on the daily chart:
GBPJPY Monthly - While I’m bearish all the way on this pair long term:
The weekly chart is signalling a pullback off this support level (green), possibly back up to test the resistance level:
Wheat is looking good for a short on the weekly chart; price has formed a double top with a nice 2 bar reversal:
I’ll have this one on my watch list for next week.
1 Like
Copper Weekly - Has Copper’s long bull run come to an end? Price tested my support level this week, but closed just above:
The daily chart shows price broke down through, then tested that SR level today. We will see which way it decides to go next week. If it breaks downwards then it could be in for a long-term bear run:
1 Like
DOW has been my focus this week. Bought the dip, now waiting for price to break this pattern it’s been in all week:
Patience.
Here’s a spreadsheet showing:
- Margin for a 10,000 unit position
- Spread during the weekend
- Spread during the day
-All numbers taken from OANDA.
-Red highlighted columns represent exotic pairs.
1 Like
USDCAD 4H - This pair has been in a nice uptrend since mid June.
If price continues up through my MA and that R level then I’ll get in. I could just go in now as there’s no reason to think the trend won’t continue, but I would rather take a more cautious approach since price made a lower high and sellers took over on Sept. 20th.
1 Like
Oil expected to hit $90 by year end. We will see how that plays out.
1 Like
My patience paid off, price kept falling and is approaching support:
Now I’ll wait and see what price does at this support level:
1 Like
Haha…just going through my thread looking for something and found this post from Oct. 2020:
I’ve gotta say, I wasn’t too far off, other than price increasing faster than predicted:
**EDIT - This is a good example of how SR levels on the monthly can give you an idea of long term price direction.
2 Likes
