TheFxAce

TheFxAce

Great setup the EURUSD as we approach the key 1.00 level, this is a short term trading setup that if triggered will be valid for 1 -2 trading days. We are approaching the 1.00 level which is were we got a nice rally from at the beginning of the month and price has been retracing back to this area for a first test we should see a reaction here again evident in...

TheFxAce

Higher Timeframes govern the Lower Timeframes so we must always know what is happening on the Monthly and Weekly charts as you will see me explain on this GBPCAD trade setup using a top down approach. On the Monthly charts we have now entered a key buying area and approaching a very strong ALL time support zone dating back over 12 years ago there has been several...

TheFxAce

USDJPY has now moved into the key selling area between 136.4 -137.4 this is the actual area that caused the huge sell off down to 130.5 at the start if this month. It was also the area that broke the weekly trend line . We have retraced back to this level pretty quickly meaning it's highly likely we will see large selling action around this area. I will wait for...

TheFxAce

Possible selling opportunity on GBPJPY that can last anywhere to 3 to 5 days though if the current level is respected has the possibility to turn into a monster of a trade that can bank 500 pips or more pretty fast. The way I approach trading is a top down approach where I look for key levels on the Monthly and Weekly charts and zoom into the lower timeframes...