moneytree123
Recruit
- Messages
- 1
Follow my Signals Completely Free
AUD/USD
The bearish trend continued through our tight stop loss last week and executed the sell trade. We are currently at 0.9438 but I will be looking for a take profit around 0.9278. However I will be locking in some profit around the previous swing high of 0.9518. Once we hit the lower levels then again I will be re-evaluating the situation and maybe looking to get back into a buy situation.
EUR/USD
The pull back came with bells on just as we predicted but the support at 1.3660 was none existent; it smashed through those levels. We had to take it right down to 5 minute chart to see any signs of the 1.3660 level becoming resistance. At the moment we are sat on a fairly strong support level on the daily chart, the only thing stopping me from taking a buy trade is the momentum that the sell had on Thursday and Friday. I will be watching to see if we make new highs on the smaller time frames and entering for a buy then. If we break below the 1.3478 level then I will be looking to enter another sell trade.
GBP/USD
We finally breached last week's levels and went on a bearish rampage and came to rest on a strong support level showing on the daily chart. This will be the real test that we are in a long term bearish trend. I will need to see the 1.5900 level become resistance to install confidence for the sell but I might take a risk and enter a buy with a real tight stop loss just to take prime position if we bounce of the support.
USD/CAD
As expected we hit that turbulence around the 1.0472 level and dropped back to the rising trend line set a few weeks ago. We could be looking to turn this around now back into a bullish trend. I would like to take the lower risk trade and get in for a buy with a tight stop loss. However once the rising trend line is broken again I will be looking for a bearish scenario.
USD/CHF
the February 2012 levels where stronger than we thought and caused the reversal back to the resistance level of 0.9120. This could be a good selling position although if it doesn't remain resistance I find it hard to find a safe buy entry.
USD/JPY
We did return to the bullish biased last week as expected but this could be short lived as we hit the base of the earlier symmetrical triangle and started to reverse into a sell trade. I don't expect this to be a smooth trade so will leave this on until I am confident on the direction. the reason being is the only resistance at the moment is a rising trend line which makes a bad entry point for the sell.
AUD/USD
The bearish trend continued through our tight stop loss last week and executed the sell trade. We are currently at 0.9438 but I will be looking for a take profit around 0.9278. However I will be locking in some profit around the previous swing high of 0.9518. Once we hit the lower levels then again I will be re-evaluating the situation and maybe looking to get back into a buy situation.
EUR/USD
The pull back came with bells on just as we predicted but the support at 1.3660 was none existent; it smashed through those levels. We had to take it right down to 5 minute chart to see any signs of the 1.3660 level becoming resistance. At the moment we are sat on a fairly strong support level on the daily chart, the only thing stopping me from taking a buy trade is the momentum that the sell had on Thursday and Friday. I will be watching to see if we make new highs on the smaller time frames and entering for a buy then. If we break below the 1.3478 level then I will be looking to enter another sell trade.
GBP/USD
We finally breached last week's levels and went on a bearish rampage and came to rest on a strong support level showing on the daily chart. This will be the real test that we are in a long term bearish trend. I will need to see the 1.5900 level become resistance to install confidence for the sell but I might take a risk and enter a buy with a real tight stop loss just to take prime position if we bounce of the support.
USD/CAD
As expected we hit that turbulence around the 1.0472 level and dropped back to the rising trend line set a few weeks ago. We could be looking to turn this around now back into a bullish trend. I would like to take the lower risk trade and get in for a buy with a tight stop loss. However once the rising trend line is broken again I will be looking for a bearish scenario.
USD/CHF
the February 2012 levels where stronger than we thought and caused the reversal back to the resistance level of 0.9120. This could be a good selling position although if it doesn't remain resistance I find it hard to find a safe buy entry.
USD/JPY
We did return to the bullish biased last week as expected but this could be short lived as we hit the base of the earlier symmetrical triangle and started to reverse into a sell trade. I don't expect this to be a smooth trade so will leave this on until I am confident on the direction. the reason being is the only resistance at the moment is a rising trend line which makes a bad entry point for the sell.
