Trade management is a weak area for many traders, and can mean the difference between winning and losing in spite of how good a trading strategy is. Although not widely used, trading with multiple positions offers a flexibility in trade management which would be difficult to attain otherwise. In doing this however, it is Read more »
EURUSD: Potential Trading Opportunity
Eurusd is currently sitting atop a broken channel resistance line on the daily chart. However, having failed to breach 1.4900, settled in a 100-piphorizontal range with the base at the 1.4760 daily support. Yesterday, an attempt was made to breach the range resistance, but the strong one hour close above Read more »
Audcad Trade Setup
Much like Audusd, the Audcad currency pair consolidated for several weeks within a channel before breaking out in a decidedly bullish manner to resume its previous trend. The monthly chart below shows a strong bar above the 1.0200 resistance level which capped further gains for so long. In keeping with the usual Read more »
Gbpchf: Where Do We Go From Here?
Gbpchf fell to 1.4220 weekly support, thereby completing a daily head and shoulders pattern. The 1.4220 level is of significance, as it represents support from a weekly trading channel that forms when the major support points at 1.7594 and 1.5118 are connected (marked in with red line on wkly chart below). Although the weekly chart now bears a long wick, there Read more »
Eurjpy Technical Analysis And Trade Setup
Eurjpy is once again backing away from a critical resistance level at 114.00. This seemingly impenetrable resistance is the result of a support that was breached on the weekly chart. As we know, once a support level is breached, it turns into resistance when retested. This area is labeled on the chart below. The weekly chart also boasts a prominent Read more »
EURGBP: A Different Perspective
Eurgbp has been ranging in a monthly pennant for several months now. The chart below shows a strong support line, as well as an outer resistance line and an inner one that formed as the characteristic narrowing effect intensified Read more »
EURAUD TRADING OPPORTUNITIES
Euraud appears to be setting up a bullish reversal after having closed last month with an engulfing bullish bar which found resistance below a shelf of past support at 1.3800s. The daily chart below shows the daily trendline retested at 1.3300, and the subsequent Read more »
USDCAD TRADING PLAN
Usdcad has started showing some bottoming action after having fallen back to .9860 lows from the down-sloping trendline on the daily chart. If this support holds, there is potential for double- bottoms on the daily. In the meantime, I am on the look Read more »
Gbpaud Technical Analysis
Gbpaud is currently retesting the support of previous trading range on the daily timeframe at 1.5820s after bouncing off the all-time low at 1.5132, and having spiked up more than half-way through the range. The 4-hour chart shows a nice bullish engulfing bar Read more »
