GBPUSD H4 |
Forex Trading Journal
A Full Time Trader's Blog. The Forex and Commodities Trading with Technical and Fundamental Analysis
Thursday, June 6, 2013
Monday, May 27, 2013
AUDUSD Bounce Coming Up
Monday, May 20, 2013
GOLD Big Support Coming
GOLD Daily |
Although fundamentals has changed but there might be options related buying around that level.
I plan to go long on touch of that level and will keep on building position till 1300 level.
USDCAD Long Trade
USDCAD H4 |
Coming to USDCAD, I see a long trade opportunity coming up after break of daily trendline. Looks like price will pullback towards the trendline and then will bounce from there. And thats where I plan to go long as well.
AUDUSD Bounce a Short Opportunity
AUDUSD Daily |
Mixing the above view along with technicals, there comes a short opportunity. After the big daily triangle break, price is bouncing a bit. Bounce towards the lower trendline present a short trade opportunity.
I plan to enter short on touch of the tendline with a stop on break and daily close above lower trendline.
Tuesday, May 14, 2013
USDCAD Channel Trade
GBPUSD Channel Break Trade
GBPUSD H4 |
A break of this support area could mean more losses.
Plan is to short the pair on any spikes towards the channel's lower trendline which comes a resistance as well.
Another case might be that price just goes down breaking support. I plan to go short on break and daily close below support level.
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UPDATE: Pair went straight down breaking the support. Going short on break of support gave me a 50pips profit trade.
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