Profiting from Majorly Crossed

Hello Reader,

Welcome to my thread, this is Sri here!!

The purpose of the thread will be to record my trade setups and to help me interpret the aftermath of the same; while I better my trading method. This will serve as a mirror to my learning and my journey in Forex trading.

I have been practicing Forex trading and various methods for over 8 months now. I had my fair share of winnings and losses, on 2nd of Jan I intend to kick start a fresh live account funded with $400; of which I expect to make $4000 over 6 – 8 month period.

I will be working on all Majors and their crosses with proper analysis and logics posted before entering the trade.
Initial volumes will be between 0.05 to 0.1 with strict 10 – 20 pip SL values.

EURUSD Analysis :

1.Higher time frames propose a bullish trend with lower momentum

2.The pair seems to have slipped to a lower channel and yet refusing to assume down trend, the level 1.3188 has provided a strong support. Momentum is slow which could also be a result of the holiday season.

I expect the pair to reach for the lower TL marking a new top and turn downwards from there on.

Chart :

AUDUSD : Primary Trend Bear

1. Overall Market momentum is supportive of downward movement

2. The pair has broken bullish trending angle recently and also have crossed the support at 1.0390 made by a previous swing low

3. PA suggests a possible retest of 1.0390 and then the pair should resume a down trend.

The market could open with a downward gap moving the markets in the retest area marking the high for the week. We should see a consistent fall in the price till mid Thurday London session by which the market could have reached 1.0300. Friday the market might pick up momentum breaching the lower support at 1.0300 ending the week in bearish momentum

Chart :

NZDUSD : Spotting a Good Buy on H4 & pointing it with M15

1. H4 exhibits a bullish momentum

2. M15 OS & about to make a higher move with support from bullish momentum

Chart :

Heyy Buddy ..

Good luck for your new start ...

Looking forward from you ...

Happy Pippin'

-Makz

Closing with 25pips in Bag

Thank you Makzer; I appreciate your support