Showing posts with label Trading-Ideas. Show all posts
Showing posts with label Trading-Ideas. Show all posts

Thursday, June 6, 2013

GBPUSD at Resistance

Resistance at this level seems to be holding up as price turns south after touching it.

myfxvoyage.blogspot.com GBPUSD H4
GBPUSD H4


Friday, April 19, 2013

EURJPY Channel For Next Week

myfxvoyage.blogspot.com EURJPY Channel
EURJPY H4
EURJPY Channel trade. 

Plan to short near the channel's upper trendline and to go long near the lower trendline.


AUDUSD Support-Resistance Levels For Next Week

myfxvoyage.blogspot.com AUDUSD Support-Resistance
AUDUSD H4
The price is still confined in 1.06-1.01 range. And in between them there are couple of support-resistance levels to watch for. 

Currently price is pulling back from support-turned-resistance area around 1.0335. Above this lies another resistance at 1.0370/75. 

I will be watching these level next week closely for any potential trade setup.


EURUSD Support-Resistance Levels

myfxvoyage.blogspot.com EURUSD support-resistance
EURUSD H4
Currently price is hitting channel's lower trendline. Just above that lies a big resistance level. 

A good momentum is required to break the resistance level. Price action was unable to it on several previous occasions. 

I will be watching this area next week closely for any potential trade setups.


Monday, April 8, 2013

GBPUSD Long Trade Setup

myfxvoyage.blogspot.com GBPUSD Long trade
GBPUSD Daily
Area around 1.5250/60 has provided a good resistance in past. 

In previous many sessions price has tried to cross the resistance level but it has failed. On Friday, post NFP rally price has not only closed above the resistance level but it has also made good gains above it. 

I expect the resistance to turn support on any dips. Price action looks bullish in medium term. 

Any dips towards the support level 1.5250/60 should be considered as buying opportunities. 


AUDUSD Double Top


myfxvoyage.blogspot.com AUDUSD Short trade
AUDUSD Hourly

Pair has made a double top and letter M on hourly charts. 

Currently price is near to neckline of letter M formation and might see a bounce to upper resistance. 1.04 area will be a good resistance now. That would be a nice place to enter shorts.

I will be wait for any spikes towards 1.04 resistance area to enter shorts.


Friday, April 5, 2013

EURUSD Channel Holding Up

myfxvoyage.blogspot.com EURUSD Channel
EURUSD Hourly
Yesterday's rally after ECB meeting stalled right at the channel's upper trendline. 

A break above the channel will push the pair higher and mean that a short term bottom at 1.2750 is in place. 

GBPUSD at Resistance 1.5255/60

myfxvoyage.blogspot.com GBPUSD Short
GBPUSD Hourly
Yesterday's big spike stalled just short of the big resistance level around 1.5255/60

This is a big resistance level and price looks little over-brought. So I am expecting a pullback till the trendline before up move resume, if it have to.

EURJPY Short Trade Plan

myfxvoyage.blogspot.com H4 EURJPY Short Trade Plan
EURJPY H4
Although after today's Yen weakness, shorting XXXJPY pairs is not a good idea but the today's moves seems exorbitant. 
I also favor shorting Yen, but currently I am looking for a pullback. Its purely a technical trade and currently price looks very overbrought on all timeframes. 

There's a descending channel on H4 charts and price is trading inside it since last week of Jan-13. Price is near to channel's upper trendline. 

I plan to short, small size, on touch of the channel. That area comes around 124.75/80. I am looking for a pullback. Stop will be on H4 close above the channel. 


Thursday, April 4, 2013

GOLD breaking short term triangle

myfxvoyage.blogspot.com GOLD M15
GOLD M15
Gold broke the short term triangle. 

Looks like a bottom in place. 

For bigger picture and my trade plan, see post.

Next resistance comes at 1560. 


Wednesday, April 3, 2013

GBPUSD Major Support

myfxvoyage.blogspot.com GBPUSD Long Trade Setup
GBPUSD H4
We might be in for a bounce after yesterday's drop. 

Currently price is touching a major support area which is held since long. This area comes around 1.5075/80. 

I went long at 1.5085 and looking for a bounce here.

-----------------------------
UPDATE:
I banked long trade at 1.5140. A total profit of +55pips..

GOLD at Major Support

myfxvoyage.blogspot.com GOLD Triangle
GOLD Daily
I am watching this setup from past few sessions. 
GOLD has been trading in a daily triangle since long and now is touching the lower trendline.
Just below the trendline comes another major support area. 

Tuesday, April 2, 2013

EURUSD Channel

myfxvoyage.blogspot.com EURUSD Channel Trade
EURUSD Hourly
Pair is drawing up a falling channel and currently price is in middle of it. 

Currently price is at support-turned-resistance and if price goes thru it then next resistance comes at channel upper trendline which has been held since Feb-2013. 

AUDUSD Daily Range

myfxvoyage.blogspot.com AUDUSD Short trade
AUDUSD Daily
Looks like AUDUSD is range bound between 1.06 and 1.0150. Price is oscillating between these levels since August-2012. 

After the recent RBA statement, price are moving up, but I expect that to be limited. I am planning to short the pair near to trendline, which has restrained price previously also. This area comes around 1.05.


Wednesday, March 27, 2013

USDCAD Channel in Play

myfxvoyage.blogspot.com USDCAD Channel Long
USDCAD Hourly
This is the channel I am looking to trade out today. Price is bouncing after touching lower trendline.

There is also horizontal support at this area and price bounced from it previously. 

I am long from 1.0170 and looking towards mid of the channel.

Monday, March 25, 2013

GBPUSD At Big Support-Turned-Resistance

myfxvoyage.blogspot.com GBPUSD Short trade
GBPUSD Daily
Level around 1.5250 has been a big support previously. 

This time price is again at that area but from downside. So I expect this level to become support-turned-resistance. 

I entered short at 1.5245 with a stop at daily close above the resistance area. 


EURJPY Ranges

myfxvoyage.blogspot.com EURJPY Range trade
EURJPY Hourly
Looks like pair constrained between 124 and 121.50 area. 

Area around 124 is support turned resistance and price has backed off twice from that area. 

Price action looks rangy and I would like to play ranges by shorting pair around 124.


Friday, March 22, 2013

USDCAD Resistance Turned Support

myfxvoyage.blogspot.com USDCAD Long trade
USDCAD Daily
I was watching this trendline from past few sessions but I missed out this trade opportunity. Trendline is support now after being broken.

I am looking to go long on touch of trendline, in case it happens, with a stop on daily close below the trendline. The long entry area comes around 1.02/90 figure. Price bounced right from that area yesterday.



EURJPY Support Holding

myfxvoyage.blogspot.com EURJPY Long trade
EURJPY Hourly
I was watching this channel from past few sessions and along with the recent drawn trendline joining the recent lows. The confluence of these two was expected to be a good support and price bounced right from it. 

As I tweeted yesterday, I went long at 122.20 on touch of the trendline and currently my stop is BE. I am looking towards mid of the triangle to book profits. 




GBPUSD Broke The Resistance Line

myfxvoyage.blogspot.com GBPUSD Long trade
GBPUSD Hourly
Recent GBPUSD strength has broken above the resistance line which was holding up since Feb. 

It stalled just few above 1.52. 

I am expecting the trendline to become resistance-turned-resistance and looking to go long on touch of trendline with stop at hourly close below the trendline. 



Related Post