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TRADE Signals

  • #721
  • Sep 8, 2016 11:58pm Sep 8, 2016 11:58pm
We have been in an area of daily demand on both EURAUD and GBPAUD.

A couple of potential trade opportunities that I won't be looking at until next week. They could well get hit today though but I will stand aside on these if they do get hit personally as I don't like holding over the weekend. But something to look out for:

GBPAUD - There are a couple of trades to consider on this one. All having the same stop loss which is the swing low, so different degrees of risk for each one. Obviously you would adjust the lot size for each depending on your risk percentage. Here they are:

Buy limit @ 1.73242, SL @ 1.72600
Buy limit @ 1.73035, SL @ 1.72600

EURAUD -

Buy limit @ 1.46745, SL @ 1.46430 ( Hard to establish a stoploss unless you look at the swing low but the risk is too large for the potential reward if that was the case for this particular trade. The chance of a bounce out ways the need to set a stop so low in this case)
Buy limit @ 1.46160, SL @ 1.45780
Buy limit @ 1.46060, SL @ 1.45780

Sorry for the multiple entry possibilities but that is what I am looking at at the moment anyway.
  • #722
  • Sep 9, 2016 9:22am Sep 9, 2016 9:22am
Quoting ollie232
We have been in an area of daily demand on both EURAUD and GBPAUD. A couple of potential trade opportunities that I won't be looking at until next week. They could well get hit today though but I will stand aside on these if they do get hit personally as I don't like holding over the weekend. But something to look out for: GBPAUD - There are a couple of trades to consider on this one. All having the same stop loss which is the swing low, so different degrees of risk for each one. Obviously you would adjust the lot size for each depending on your...
On your EAUD recommendation I would take the highest entry area as the 1.47 handle seems to be where short term support sits (I know you dont look at support Ollie, just what I see).
On the GAUD I would take a long between 1.7390 to 1.7400
  • #723
  • Sep 9, 2016 11:57am Sep 9, 2016 11:57am
Quoting rck66
Only 1 signal tonight: Short GBPJPY near the 137 handle with a target that will be determined IF price bounces from current levels to hit the entry short. I'm also placing an order to buy EURGBP @ 8371 looking for a restest of recent highs above 8500
I want to kick myself for not taking this trade, as yesterday was very busy for me and I didn't have time to check the markets. I also miss a signal to go short GUSD, but it might still be valid around the 1.3320 area.
Also watch EUSD which is going into support between 1.1100 and 1.1150 but in the latest bounce a couple of days ago, price retested highs printed at the end of August and the indicators didn't even bother to move up. So with that in mind, what I'm trying to say is that the support level (which is on the daily) might not hold or might create a bounce from below that level.

Also keep an eye on EJPY for a breakdown lower.
It seems that we started a market pullback, so that should strengthen the USD, JPY and CHF.
Have a good weekend.
  • #724
  • Sep 11, 2016 5:21pm Sep 11, 2016 5:21pm
Well the daily demand that EURAUD and GBPAUD were in have moved price substantially higher. So scratch the recommendations above that I made. Those recommendations were if price was to come back down into them. Those levels are not completely dismissed but if price came back down substantially to those levels there is a chance they can keep on moving lower. So standing by for now really to see what will happen.

A couple of possibilities to keep an eye on.

EURUSD - Buy limit @ 1.11604, SL @ 1.11350. If price continues to go up from where it currently is (1.12335) you could see a drop in price once hitting around the 1.12720 price level. I would not enter to go short here. Just an observation.

EURAUD - Would look for buying opportunities around 1.47270. The stop would be large though so would wait for a better opportunity if price does move down to that level.

Apart from that there is nothing too clear for me just yet. It is all a patience game. The levels I am looking for occur very often and you could trade most if not all of them. But for me personally I like to wait for the better opportunities that present themselves.

Hope you all had a good weekend.
  • #725
  • Sep 11, 2016 11:09pm Sep 11, 2016 11:09pm
Another trade opportunity is:

GBPJPY - Buy limit @ 135.355, SL @ 134.975. Could move past this level to find where most of the demand is but could definitely work as a short term trade option.
  • #726
  • Sep 11, 2016 11:21pm Sep 11, 2016 11:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 48 KB
  • #727
  • Edited Sep 12, 2016 12:01am Sep 11, 2016 11:33pm | Edited Sep 12, 2016 12:01am
I hope it works out for you Sitkhi.
  • #728
  • Edited Sep 12, 2016 12:02am Sep 11, 2016 11:34pm | Edited Sep 12, 2016 12:02am
Where is your stop placed Sitkhi?
  • #729
  • Sep 12, 2016 3:02am Sep 12, 2016 3:02am
Sitkhi, price could jump up on AUDUSD at around 0.74830. So if you haven't hit your stop by then you could keep the trade alive to recover some loss.
  • #730
  • Sep 12, 2016 1:58pm Sep 12, 2016 1:58pm
I got out of the GBPJPY trade at 135.860. About a 1.5:1. Not the greatest of setups which is why I took profit abit early.
  • #731
  • Sep 12, 2016 10:23pm Sep 12, 2016 10:23pm
No signals for tonight.
Only comment I can make is for those following EAUD, there is some resistance between 1.4980 and the 1.50 handle area.
  • #732
  • Sep 13, 2016 8:59am Sep 13, 2016 8:59am
Took a short UCAD at 1.31516, looking for a TP of 1.31 handle area, stop can be placed just above the 1.32 handle, so for those R:R lovers, you are talking about a 1:1 ratio.
  • #733
  • Sep 13, 2016 9:48am Sep 13, 2016 9:48am
so far the 1.50 handle on EAUD has been able to hold, but the pullback hasn't been dramatic. Still the bias is up, but I will be looking to sell if the handle holds.
  • #734
  • Sep 13, 2016 10:15am Sep 13, 2016 10:15am
EAUD 1.50 handle not holding, so I will not be taking a short.
  • #735
  • Sep 13, 2016 3:06pm Sep 13, 2016 3:06pm
Quoting rck66
Took a short UCAD at 1.31516, looking for a TP of 1.31 handle area, stop can be placed just above the 1.32 handle, so for those R:R lovers, you are talking about a 1:1 ratio.
Hopefully the trade holds for you Rck66. As for R:R ratios, it is not a case of loving them. It is a necessity in taking consistent profits from the markets over the long term. With a R:R ratio of 1:1 you need to win 50% of your trades just to breakeven. With a R:R of 2 Risk:1 Reward you need to win 67% of trades to breakeven.
Attached Image
  • #736
  • Sep 13, 2016 4:11pm Sep 13, 2016 4:11pm
Totally right mate. That is why I was never able to be consistent with my trading. Unfortunately, targets for me are not as "visible" as stops and I was getting stopped out a lot even though my win rate was higher, and has been most of my trading life, than 50%. I have developed a strategy that I'm using for my futures account (still a bit raw, but working on it) that uses previous day range value to find where the market can turn and where it might go to.
So far it has promise and I might implement it on forex. In the meantime, I still think that having the trade size adjusted to your account size is the best way for me.
That UCAD trade I might get out at the 1.31 handle or higher depending on conditions that I see. maybe when we talk we can discuss the target areas better.
Thanks for your input and comments.
Rick
  • #737
  • Edited 5:01pm Sep 13, 2016 4:16pm | Edited 5:01pm
Quoting rck66
Only 1 signal tonight: Short GBPJPY near the 137 handle with a target that will be determined IF price bounces from current levels to hit the entry short. I'm also placing an order to buy EURGBP @ 8371 looking for a restest of recent highs above 8500
Never got the entry long on EGBP, but there is the move up that I was expecting. Hopefully someone was able to have a better entry point than the one I was hoping for. It never went below 8400.

(The quoted post was from Sept 7, post 715)
  • #738
  • Sep 13, 2016 4:52pm Sep 13, 2016 4:52pm
Here is the daily chart for UCAD. It shows a bullish case for the UCAD, even though it shows good resistance on the 1.32 handle. Reason for the short trade was a divergence that I noticed on a smaller time frame chart, but it seems that I will not be able to get out all the way down to my TP of 1.3100 area.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 262 KB
  • #739
  • Sep 13, 2016 6:26pm Sep 13, 2016 6:26pm
A couple of potential trade opportunities:

EURUSD - Buy limit @ 1.11600, SL @ 1.11360

GBPUSD - Sell limit @ 1.32640, SL @ 1.32930 (Hard to establish a stoploss level but this one gives a good chance for the trade to have some room aswell as maintaining a good R:R). If price moves through this level expect to see a move down once hitting around 1.33225. If this is the case a SL of 1.33480 can be used.

GBPUSD - Buy limit @ 1.31060, SL @ 1.30550
  • #740
  • Sep 13, 2016 10:37pm Sep 13, 2016 10:37pm
Quoting ollie232
A couple of potential trade opportunities: EURUSD - Buy limit @ 1.11600, SL @ 1.11360 GBPUSD - Sell limit @ 1.32640, SL @ 1.32930 (Hard to establish a stoploss level but this one gives a good chance for the trade to have some room aswell as maintaining a good R:R). If price moves through this level expect to see a move down once hitting around 1.33225. If this is the case a SL of 1.33480 can be used. GBPUSD - Buy limit @ 1.31060, SL @ 1.30550
Mate, the EUSD I see it as having support area between 1.1200 and 1.1210 and good resistance between 11254 and 11267

As far as the GUSD, I will take your word for the long signal and I see good resistance from 13335 all the way up to 13375, so if price were to go up to 13323 as you mention, I would probably be going short, but placing a stop way beyond 13375.

Other ideas or areas are:
GBPJPY resistance 13600 to 13645 and support around 135.15
EJPY looking for resistance between 116 and 117 handle (I know big area, but that is where a lot of rejections have come from lately)
CADJPY resistance @10580
AUDJPY resistance 7740 or 7780
UCHF some resistance 9800 to 9815 and then again between 9863 and 9883
NUSD support @ 7235 and below at 7200 handle area

That is it.
I have placed my order to cover my UCAD short at 1.3131 for a 20 pip profit. Don't think it will drop much lower at least in the shorter term.
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