No Trading Until After Exams

I will be concentrating on my exams from now on, so no more trades until the end of May for me! See you soon.

Wednesday Evening EUR/USD Chart

There is a nice wedge forming here, so there are two possible trades.

Sell @ 1.4490 SL 1.4505 TP 1.4475 VALID = -15PIPS

Buy @ 1.4530 SL 1.4515 TP 1.4545 VALID = +15PIPS


PROFIT = (10PIPS - 10PIPS) * $10 = $0


It was unfortunate that the breakout took longer than anticipated, and having a trailing stop would of been better to catch more pips on the way up. I should of moved the SL to BE point, but I was too busy revising for my exams.

Wednesday Afternoon GBP/USD Chart

The GBP/USD is heading towards it's previous high @ 1.6426, i expect this resistance to hold and head lower.

Sell @ 1.6426 SL 1.6441 TP 1.6408 VALID

PROFIT = 18PIPS * $10 = $180

Wednesday Midday EUR/USD Chart

It broke through the previous high without any trouble at all, so now there is a buy in play if it come back down to touch the trendline. However if it goes through the support, i will look to sell.

Buy @ 1.4513 SL 1.4503 TP 1.4545 INVALID

Sell @ 1.4509 SL 1.4517 TP 1.4468 VALID UPDATE: The move took longer than expected, having to move the sell @ 1.4518 SL 1.4517 TP 1.4501.

The chart shows that there was a trendline, that i didn't see earlier. Therefore the TP has ben moved up to this line, as I expect a bounce up from here.

PROFIT = + 17 PIPS * $10 = $170

Wednesday Midday GBP/USD Chart

The GBP/USD seems to be coming back down to touch the trendline.

Buy @1.6360 SL 1.6345 TP 1.6376 INVALID

Sell @ 1.6357 SL 1.6372 TP 1.6335 INVALID

Wednesday Morning EUR/USD Chart

It looks like the EUR/USD is going to retest the previous high of 1.4520, therefore it should provide a good resistance and setup for a short trade.

Sell @ 1.4520 SL 1.4530 TP 1.4510 VALID = -10PIPS

PROFIT = -10PIPS * $10 = -$100

Tuesday Afternoon GBP/USD Chart

I'm a little late on this one, i'm trying to finish a Credit Default Swap project for finanical engineering at the moment. Anyway, it looks to have hit a resistance and are heading lower.

Sell @ 1.6334 SP 1.659 TP 1.6310 VALID  = +24PIPS

PROFIT = 24PIPS * $10 = $240

Tuesday Mid-Morning EUR/USD Chart

There looks like there might be a break out downwards here towards 1.4244

Sell @ 1.4268 SL 1.5278 TP 1.4244 VALID = -10PIPS

PROFIT = -10PIPS * $10 = -$100

Tuesday Morning EUR/USD Chart

There wasn't much movement in the EUR/USD over night, but we are looking at a possible move down towards  1.4214 and a further break of this gives way to yesterdays previous low of 1.4162. However a move higher would set us up for another short @ 1.4282.

Trades are:

Sell @ 1.4282 SP 1.4292 TP 1.4244 VALID = -10PIPS Touched the SP by 0.1 PIPS - Annoying!

PROFIT = -10PIPS * $10 = -$100

Sell @ 1.4236 SP 1.4246 TP 1.4214 INVALID

Sell @ 1.4210 SP 1.4220 TP 1.4162 INVALID

Monday Evening EUR/USD Chart

It retraced nicely to kiss the 38.20% Fibbonacci level @ 1.4231, securing another 15PIPS in the bag!

Now we are looking for the retracement to continue, setting us up for another short @ 1.4276, the 61.80% Fibbonacci level AND if it gets there @ 1.4315

Sell @ 1.4276 SL 1.4286 TP 1.4254 INVALID

Sell @ 1.4315 SL 1.4330 TP 1.4277 INVALID


The price never touched our order, hence no trades were placed. I'm off to bed - see you tomorrow!

Monday Afternoon EUR/USD Chart

The market has taken a considerable step lower, with the EUR/USD currently @1.4203. A retracement is now in process, with a break of 1.4216 giving way to the 38.20% Fibbonacci line @ 1.4231. Otherwise the downtrend should continue.

Trades in play are:

Buy @ 1.4216 SL 1.4200 TP 1.4231 VALID = 15PIPS

Buy @ 1.4162 SL 1.4152 TP 1.4182 INVALID

PROFIT = 15PIPS * $10 = $150

Monday Morning EUR/USD Chart

Hopefully you made the previous trades and locked in 15PIPS profit. Now the EUR/USD is bounced, with major resistance @ 1.4300 and 1.4244. Currently @ 1.4346, a move above 1.4380 gives way to 1.4412, with a move below 1.4321 gives way to 1.4300.

Possible Trades:

Buy @ 1.4383 SL 1.4370 TP 1.4412 INVALID

Sell @ 1.4377 SL 1.4382 TP 1.4352 INVALID

Sell @ 1.4321 SL 1.4335 TP 1.4300 VAILD = +21PIPS


PROFIT = 21PIPS * $10 = $210

EUR/USD Sunday Chart

At the open we should see EUR/USD trend down to touch the 1.4400 level which is a big support. IF not then we should resume north until 1.4485, with resistance @ 1.4445 and 1.4458.

Either:

Buy @ 1.4435 SL 1.4425 TP 1.4485 INVALID

Or:

Buy @ 1.4400 SL 1.4390 TP 1.4423 VALID = - 10 PIPS

A break of 1.4390 gives way to 1.4365. Sell @ 1.4390 SL 1.4405 TP 1.4365 VALID =   + 25 PIPS

PROFIT = 15PIPS * $10 = $150

Getting Ready for a BIG WEEK?

Markets open in less than 12 hours! I will be looking at the price action early on in Monday morning. Will post the chart when I see a trade. OVER and OUT.