Daily Charts

USDCHF has hit a major support line and bounced!. I believe the pair will continue to rise within the next few days

I think the pair will hit 1.0616 which is the next minor resistance line to meet. The stop loss was placed @ 1.05 just 7 pips below the major support line but no target was specified. I will see what happens next

As I expected, the pair has hit the minor resistance line. I know it could resume the rise but I often do not hold more than one trading day. I closed @ 1.0619 with 56 pips profit

After a long fall from 1.0679 to 1.006, USDCAD has finally found a significant support line. I will wait till just before the end of the day and see if the bullish pin bar holds. If it does, then I will place a pending buy order just above the high of the pin bar, and place a stop loss just below the low of the pin bar

I just have placed a pending buy order @ 1.0185 for USDCAD. For me, the bullish pin bar is a strong bullish reversal signal when it is formed at support lines. I have left the target unspecified and will close at the end of the next trading day - if the order is filled

I want to stress that I am trying to keep my trades as simple as possible. I have abandoned all those fancy technical indicators, and I am only using support & resistance lines, trend lines & candlestick patterns to make my trading decisions

Ashraf:

Please keep posting. I like to trade daily with S&R and price action. Will keep an eye on your journal..thanks.

FX_California

As I speak, USDCAD closed at almost breakeven from my open @ 1.0185. I have closed the position @ 1.0187

AUDJPY shows today clear rejection @ 82.50 which was previously a resistance line. I will look for opportunity to buy by the close of the trading day

I opened a buy order @ 82.74 and closed it @ 82.88 within the same trading day. There seems to be alot of selling pressure on the pair

EURUSD is approaching a major support line. Today shows that the previous day's bullish hammer was not a valid bullish signal. This means to me it is more likely to continue the downtrend. I will see what happens till the end of the trading day and sell below 1.3462 if it goes below it

After looking at the close at the end of the trading day, I noticed AUDJPY was going up after all. I have canceled EURUSD because I have spotted a better opportunity with NZDJPY. The pin bar which was formed above a support line was followed by an inside bar and the overall trend is up. So I bought @ 63.91 with target at the next resistance line @ 64.91

I have placed a stop loss @ 62.94 for NZDJPY

I closed my position with AUDJPY with a loss of 35 pips. I felt the pair was heading downward for the remaining of the day. I sold EURUSD @ 1.3460 and will close the position at the end of the trading day

As I speak EURUSD is heading downwards...

EURUSD has proved to be a real short winner today. The trade has gained more than 140 pips so far. However, I will close the trade by the end of the trading day

I chose NZDUSD as my next short target. The pair is breaking a previously support line and and I think the pair will move much lower the next trading day

I closed NZDUSD with a loss of 23 pips. The pair was very wild today

The pin bar formed at the support line for GBPUSD is an important bearish signal when there is a downtrend. I Have sold at market price and will close at the end of the trading day

The pair did not go in the direction I expected. I raised the stop loss to be above the high of the previous day pin bar. I think today's activity was only a consolidation