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Currencytrading

I was right all alongIts interesting to see how certain bias's can creep up on you while trading. If you'll remember yesterday I published 2 ideas on CHFJPY. Originally, I was under the impression that the market would drop as soon as it touched resistance and reverse down to the bottom of the Daily channel where we would have set our original Target. Then, Price broke through the resistance line indicating that the market was ready for bullish momentum. However, I did bring up the possibility of this being a false breakout and as we waited for the bullish pullback to go long on the trade, price tanked. The price is sitting roughly 50 Pips away from the Daily resistance with a good couple of bearish candlesticks indicating downward momentum. Although I saw signs of a bearish market, I managed to find reasons as to why the market will skyrocket once price broke through the resistance. I think this shows the power of decision making. I personally did not enter the market to catch the drop for a matter of risk management, however, given that the trade went against my final prediction (up), I am glad I didn't hop into this trade out of FOMO or it would have been a loss. This is not to say that the bullish move isn't coming in the future! We still have the Weekly descending channel and we do still have the 3 touches at the bottom of the Daily channel. Its possible that upon the fourth touch at the bottom of the Daily channel, the market will reverse where we can set a Target for the top of the Daily Channel, and potentially a second Target at the completion of the Weekly Channel. It's important to note that price action does NOT have to reach all the way to the bottom of the Daily Channel to reverse. Once price reaches the 50% point of the Daily channel, it has the potential for a reversal. Now that we have a clear direction of where the market is going, we can look for opportunities to scale in and place short term trades. From where price is currently sitting now to the support line at 108.331, we have the potential to bank in around 120 Pips in total.
Short
by JuanAlexander95
Global Financial Engineering Swing Trading Strategy for EUR/USDThe Primary Trend (PT) given by the Monthly TIME BAR (MTB) is currently Bearish The Secondary Trend (ST), given by the Weekly TIME BAR (WTB) is currently Bullish The Medium Term Trend (MTT), given by the Daily TIME BAR (DTB) is currently Bullish The Short Term Trend (STT), given by the Four Hour TIME BAR (FHTB) is currently Bullish In light of the above trend analysis we will start a bullish trade using Global Trading Strategy #2 on the Global Automated Trading System #2 which trade in the direction of the Four Hour TIME BARS (FHTB). Global Entry Signal: Buy @1.12973 Global Stop Loss: 1.11927 Global Target Profit: 1.24217 Global Trade Management Strategy: We will applied the Global Trailing Stop System for Global Trading Strategy #2 Read more ----- The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by Global Financial Engineering,Inc. to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice
Long
by globalfinancialengineering
Long Shot Aussie/USDLooking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is important to note that although all these patterns are present and we can gain evidence for a winning trade, we must remember the market can still push price lower to 0.67280 before the reversal takes place.
Long
by JuanAlexander95
Possible USD/CHF Short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-4 Days Actions on - A – Activating Event Market will meet resistance in zone @1.011 - .... and fall to the 0.991. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 0.991 FX:USDCHF Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.991 Target 2 @ .... Risk/Reward @ 7.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
2
Possible AUD/CHF short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-3 Days Actions on - A – Activating Event Market will meet resistance in zone @0.725 - .... and fall to the 0.704. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 0.704 FX:AUDCHF Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.704 Target 2 @ .... Risk/Reward @ 6.5.1 Happy trading :) F ollow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
2
Possible USD/CAD short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-2 Days Actions on - A – Activating Event Market will meet resistance in zone @1.339 - .... and fall to the 1.33. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 1.33 FX:USDCAD Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 1.33 Target 2 @ .... Risk/Reward @ 2.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
4
Possible SGD/JPY short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-4 Days Actions on - A – Activating Event Market will meet resistance in zone @82.800 - .... and fall to the 81.200. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 81.200 OANDA:SGDJPY Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 81.200 Target 2 @ .... Risk/Reward @ 5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
Possible USD/JPY Short position!! SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-4 Days Actions on - A – Activating Event Market will meet resistance in zone @111.966 - .... and fall to the 109.86. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 109.86 FX:USDJPY Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 109.86 Target 2 @ .... Risk/Reward @ 5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader