ratcatcher

ratcatcher Updated 

After a short holiday and the fuss of the US elections and the FED decision I started looking for positions. I just entered at market buying the USDJPY at 152.68 SL 151.50 and TP 155.50. There was an impulse wave breaking to the upside and has retraced back down to the 0.618 fibonacci level probably due to intervention comments from the BoJ The Market seems to...

ratcatcher Updated 

I have gone LONG NZDCAD. On my 4H chart there was a impulse wave breaking the down trend (in yellow). This retraced overnight to the 0.618 Fibonacci level where I entered at 0.8348 SL 0.8290. My target is 0.8465. My rational for the trade is that on that CAD side oil prices remain under pressure, on expectations that demand will be weak and Israel will avoid a...

ratcatcher Updated 

This is a head up! I shall be watching this pair closely. The plan will be to open a LONG position when I get the close of an hourly candle showing a bounce to the upside. This is consistent with the 4H and Daily trend direction. I shall be waiting for a pin bar, engulfing or tweezers. I shall place the stop below the zone at about 107.55. If the price drops...

ratcatcher

Trading, it’s not just about entering and closing trades. It’s also about preparing for trading. It’s nearly the end of the month and I’ll be using this weekend to review my trades. I shall be looking at the following: Are my losing trades “good drawdown”. Was I following my system? If not this can be called bad drawdown and down to stupidity and not following my...

ratcatcher

We have seen a break of up trend on the 4H AUDNZD chart. I'm looking to trade a retracement of the initial impulse back up to the 0.618 Fibonacci level. Fundamentally CPI data, released today, from Australia has showed the inflation has slowed (2.7% down from 3.5%). Is the market going to price in a AUD rate cut? Who knows! In anticipation of this I have place a...

ratcatcher

I have gone long GBPCHF on the 1H as I saw a rejection on of a demand zone at 1.1292 and the GBP has been in a uptrend all last week (see daily charts for example). I have opened a small position because the UK Chancellor of the Exchequer is due to speak at a conference (in about an hour as I write) and set my SL at 1.1265. There is some short time resistance...

ratcatcher Updated 

I have gone long AUDJPY (risk-on trade) on a Fibonacci retracement down to the 0.618 level after an initial break up of the down trend. The market seems optimistic with an expeceted decrease in interest rates in the US and Europe. Entry 94.50, SL 93.80 and TP 96.00. N.B. I shall probably close this trade before 21:00 GMT (market close) because there are some data...

ratcatcher

I am looking for a bounce off the 1.3577 level (see 1H chart) on what I believe to be a demand zone. I will NOT be entering a trade until AFTER the US CPI data due for release at 12:30 GMT. I am looking for a hammer or engulfing candle pattern (on candle closure) as a signal to enter the trade and place my SL at 1.3560. TP will be 1.3600. If the price drops...

ratcatcher

I am looking to sell AUD weakness on the back of poor economic data against possible CAD strength. There may be a retracement back to a 0.618 Fibonacci level (on my chart) this afternoon on the Canadian interest rate announcement at 13:45 GMT. I intent to sell at 0.9125 SL at 0.9175 and TP at 0.9033. Long term Canada has a better economic outlook than Australia...

ratcatcher

I have gone short on this pair on continued USD weakness. I was looking for an objective opportunity to sell this pair on a pull back. Sold at the close of the green hammer candle at 14:00 GMT. SL behind the zone at 145.22. My target is 144.00 giving a risk reward ratio of just under two.

ratcatcher

I am looking to sell the downtrend in USDJPY on continued USD weakness perceived by the market. A possible entry might be a pull back to the 0.618 Fibonacci a level of 145.36 and sell short here with a stop at 146.60. This stop is above a nice fat supply zone (146.00 to 146.45 approx). My target is 142.57. This is my view ATM but could change with US consumer...

ratcatcher

I looking to see if there if there will be a reaction to either of these two demand zones at 1.1080 and 1.1040. We have the FOMC minutes released at 19:00 BST (later today) and on Thursday and Friday we will have Jackson Hole symposium. I'm not looking to trade until I see a bounce of either of these zones by way of a confirmation candle.

ratcatcher

Bought GBPNZD on the bounce of a supply zone 2.1165 on a 1H chart. SL at 2.1140 below this zone and target of 2.1300. I'm mindful of UK PMI data release tomorrow so I may close this trade early before the data release.