Hello everyone,
Yesterday Thursday I took a short entry on GBPAUD. The position was based on a breakout and posterior retest of the 2.1100 key support level which had been holding price above for the last two weeks. Finally, last Wednesday the bears managed to crack that level and pushed GBPAUD down for about a hundred pips before it began retracing back up to retest that 2.1100 S/R barrier from below.
Former support, once broken, becomes resistance.
We all have heard this before, haven’t we? that’s basically what I was expecting to happen and indeed the 2.1100 rejected the retracement. At that time is where I triggered my short entry. Despite the fact that price moved down to +50 pips in profits right away, I was spotting signals of temporary momentum-dry out signified by GBPAUD flopping about my entry level all afternoon long, having me sweating as I felt the heat on this trade. Eventually, I decided to offset the risk on this troublesome trade so I tightened my stoploss pretty aggressively and called it a day.
Well, as it turned out my stop loss was to be knocked out during the overnight Tokyo session setting me back for -15 pips. I am not particularly upset about this trade to be honest: I had given it a fair chance to show its true colors and I just didn’t want to continue being exposed in a trade that wouldn’t want to move in my direction.
But let’s watch the video, shall we?
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Hello everyone,
Today I have received quite a few emails from some guys who’ve taken my Forex Course asking me why I didn’t take the AUDUSD trade. Puzzled, I pulled out a AUDUSD chart and there it was… a crystal-clear channel breakout in the direction of the Moving Averages!
Somehow I had I missed this setup in my early-morning pre-session market scan which rather surprises me because like I say it was one of those setups that stand out among the rest. Anyway, congratulations to all of you guys who profited from it. Well done applying my system perfectly :)
Let me now review that trade in the following video.
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Hello everyone,
I wanted to update you folks on what’s ticking on my screen. The Kiwi trade is still moving forward (+125 pips as I type these lines), plus I am following few other setups that seem rather interesting at a first glance. I tell you what: please watch the video below, review the setups and post your comments on this post letting me know your thoughts on them.
Let’s talk Forex!
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Hello everyone,
The NZDUSD trade I entered last Friday is still developing positively in my direction. Right now it’s retesting the key level 0.8100 which is the historical high of July 2007. In my opinion, this battle will be won or lost right there: if the bulls manage to breach through I reckon this trade will net me some good profits; if not, I will be ready to exit out at the first signals of weakness.
For the time being it’s sitting at +75 pips in profit as you can see in the screenshot below. But like I said, the level to watch now is 0.8100… Go Kiwi go!
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Hello everyone,
First of all I apologize for not having uploaded Friday’s trade any earlier but I have taken the weekend off - it’s been a relative’s birthday so I drove out of town to pay him a visit.
Anyway, a few days ago I laid out the setups I had on my watch list: they were a few GBP-shorts and a NZDUSD long. Well, the GBP-setups are still hesitant to show a decent move. However, the NZDUSD did finally put up the breakout thrust I have been waiting for all week long. In fact, last Friday we got the up-momentum I was expecting when I triggered my first Kiwi trade earlier this week (which ended up in a -9 pip loss).
They say everyone deserves a second chance, and the NZDUSD is no exception. So I re-entered long again and this time around it seems like we’re finding buyers willing to jump in this market. I joined their ranks so let’s see how it goes.
However, not everything is pink-color - There were two dark points in this trade… Let’s watch the following video for a full explanation!
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