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Profitfxza

USDCHF trade ideaUSDCHF has been battling to break those highs on the higher time frames so this is an indication that the bulls may be losing control.... Note the following: 1. Trend line broken to the down side 2. Support re tested as resistance and the candle popped a wick to the up side (clue) 3. 50 ema broken... I am shorting at market price @ 1.000281 with TP provisionally at first support @ 0.99890 and SL just above the resistance level @ 1.00580 Don't bet the farm and always exercise healthy risk management
Short
by Cmasterza
AUDUSD trade ideaFX:AUDUSD Trend = up on H4 + D1 I noticed a good level to buy from, the yellow bar marks previous resistance now as support tested perfectly. I will be building long positions given that the bullish engulfing candle pattern (buy signal) that has printed and working with the trend and level aligning up. IF you are a bit more conservative in your approach, waiting for a 50% retracement of the bullish candle before activating a buy order can be considered. Entering at market price 0.72601 with TP @ resistance level 0.73787 and SL below support (where this trade would be invalidated) @ 0.71787 Don't bet the farm and always exercise good risk management.
Long
by Cmasterza
USDJPY Short FX:USDJPY Welcome back to a new trading week :) Following some bullish trade ideas from last week and the week before, long orders were closed with little profit as the charts slowed down on the bulls and started to bring signs of bearish price action to the charts... I have applied the top down method in analysing to find on W1 and D1 time frame corresponding with my H4 view. Here we can see a short term trend line broken to the down side around a key level. On D1 I have noted that Friday's candle has pinned the 21 ema which is a great indicator to get in on a short of the trend is generally down. Sell order opened @ market price 109.328 with SL above the recent highs @ 110.272 and TP around the swing low on the left @ 106.988 On this trade I am rising 95 pips for 235 on the reward end BUT if you check the recent swing low on W1 you will find that this trade has a 500 pip potential. Don't bet the farm and always exercise healthy risk management!
Short
by Cmasterza
AUDUSD Bullish trade ideaFX:AUDUSD After the massive wick I have been looking for a decent entry to go long. (I use the wicks as indicators - spike to the low, price goes up - spike the high, price goes down) Now checking on H4 I see a clear opportunity with great up side potential. 1. Trend line broken on H4 2. Bullish engulfing pattern printed on D1 (on support) 3. Hammer printed for lest weeks weekly candle I have opened a buy order at market price @0.71938 with SL below the trend line @ 0.70978 (also placed below 200ema on H4 intentionally as the 200ema is a good trend indicator here) and TP provisionally at resistance @ 0.73010 IF price breaks above the 0.72998 resistance level this trade can pay out exponentially. Don't bet the farm and always exercise good risk management
Long
by Cmasterza
USDJPY Price Action SetupFX:USDJPY Price has been ranging between the 107 and 114 levels for some time now. * Price is around support plus a buy signal has printed (doji, indicating indecision = bears may be out of steam failing to push price below support) * The weekly timeframe indicates a buy, so does D1 and H4 when looking at the levels marked and how price is reacting So I am opening a buy order at market price 108.880 with: Stop loss below the lows @106.889 and Take profit at resistance @ 113.314 **Important - this is an aggressive entry. A more conservative entry would be to wait for confirmation (bullish candle) which is currently forming and if completed as such would form a bullish engulfing buy signal Don't bet the farm and always exercise healthy risk management
Long
by Cmasterza
1
Gold respecting the 1300 psychological levelFOREXCOM:XAUUSD The 1300 level has been holding so with a bearish harami printing at the resistance level I am happy to short this pair: Short at market price @ 1292.71 with *Stop loss above the highs where I will deem this setup invalidated @ 1305.00 *Take profit provisionally at 1259 where the 200ema is currently positioned ** Take note - I have marked 1229.43 and 1213.34 which comes off the 50.0 and 61.8 fib levels respectively when measuring the current bullish move. These levels should be the real targets as I am trading the retracement off a bigger bullish move upwards. Don't bet the farm and always exercise healthy risk management
FOREXCOM:XAUUSDShort
by Cmasterza
USDJPY recovery above long term trend lineFX:USDJPY Price has just pulled back above the long term trend line drawn (on H4 and D1 tf) following the flash crash from last week. Note the marked bullish engulfing candle pattern printed on support signalling the potential move higher. I have opened a buy order at market price 109.042 with *Stop loss below the support where I feel that the setup would become invalidated @ 107.771 *Provisionally targeting the 200ema @ 111.409 and then the major resistance IF price pushes higher to 113.589 Don't bet the farm, always exercise good risk management
Long
by Cmasterza
EURAUD Trade IdeaFX:EURAUD Mario Draghi's comments earlier during the press conference for the ECB Monetary Policy were mostly negative in terms of outlook. This should affect the euro accordingly so I will begin to build euro exposure... 1. Up-trend line broken 2. Retest of the trend line from the underside (can be seen clearly on a line chart) 3. Bearish engulfing candle pattern completed Enter @ market price 1.56942 TP lower @ previous support 1.55260 SL just above the recent high where I feel the setup would be deemed invalidated 1.57997 Don't bet the farm, always exercise good risk management
Short
by Cmasterza
Trade idea for AUDUSDFX:AUDUSD What a beautiful drop after the double top formed at the resistance level - power! Price has reached the support level I marked up and the current candle is printing as a hammer (still needs to close as such) - I am getting ready to go long should: 1. The current candle close to complete the candle as a hammer (buy signal) 2. It would be ideal for the buy signal to be confirmed by a bullish candle but I will be weary of large candles that could spoil the risk to reward ratio of the setup Concerns: 1. This is the 3rd time price is visiting the support 2. Price has just fallen below the 200ema Irrespective of my opinions I will trade what I see, not what I feel. Like the post to receive updates :) Don't bet the farm, always exercise good risk management
Long
by Cmasterza
2