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** CAD JPY ** Current open buy tradeMorning update of today's open trades. The entry price, stop loss (in pipettes) and take profit are shown on the chart itself. Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress. My name is Al, I'm 40 and from the UK. I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as I can. Any questions, feel free to drop me a direct message if I can help. These ideas, aren't specific advice from me - so if you enter, of course do your own due diligence - always manage your risk like a pro too. This is all for information and education. Have a great day, Al. 🙂 PS. Check my other 'Related Ideas' too.
Long
by AL-1-
** EURCAD - BUY - M15The entry price, stop loss (in pipettes) and take profit are shown on the chart itself. Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress. My name is Al, I'm 40 and from the UK. I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as I can. Any questions, feel free to drop me a direct message if I can help. These ideas, aren't specific advice from me - so if you enter, of course do your own due diligence - always manage your risk like a pro too. This is all for information and education. Have a great day, Al. 🙂 PS. Check my other 'Related Ideas' too. Strategy Report
Long
by AL-1-
EURUSD daily correction persistsAfter a solid uptrend that broke some significant weekly resistance zones and market structure, the EURUSD looks to have found a top and is now in correction mode on the daily. I'm expecting further short-term weakness to test the previous structure before Euro decides its next move. You'll notice that the EURUSD is usually inversely correlated with the DXY, so we can look at both of these together to confirm our view. See you on the next FX market scan to discuss further. Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation.
by OrganicFX
5
Is EURUSD about to Melt up? During last week we were tracking the EURUSD correction and wanted to see evidence of buying activity to signal a resumption of the long-term uptrend. We got that around previous support levels and saw a nice impulsive move up. Then on Monday's FX market scan, we were tracking what looked like a bull flag on the smaller timeframes, and a potential head and shoulders pattern. The bull flag broke to the upside nicely and now we've seen a confirmed break of the neckline. Looks to me that we've got the resumption of the longer-term uptrend with a view to test the previous highs at 1.2342 for a start, and then onto round number 1.2500. I'm looking to keep re-entering longs after any corrections on the smaller timeframes. See you at next Monday's FX market scan. Cheers Dale Please like and subscribe for more ideas
Long
by OrganicFX
2
USDJPY BreakoutAfter a nice breakout of the long-term downtrend channel over the last few weeks, Dollar Yen looks like an end-of-correction on the 1-4hr today for another long entry. Looks like there's plenty of room to the upside and looking for a test of the top of the falling wedge trendline. Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation.
Long
by OrganicFX
2
What does the perfect trade look like? It's not often that you nail a perfect trade, but when you do it's like when you hit a golf ball down the fairway with a One wood and it makes that beautiful Ping sound hey!! That one beautiful shot keeps us coming back for more! We identified this Kiwi Yen Long on last night's FX Market scan. I got stopped out on the first entry during the European open, then re-entered at New York open. Then after a big run during today's Asian session exited. We'll go through the mechanics of the entries and exits in the network. See you there Cheers Dale
by OrganicFX
7
Swissy making another run to the downsideAs we discussed on Monday's FX market scan USDCHF looks like it's finished its correction and is making another run to the downside on the daily. See you on the next call in Market Mentor on Monday at 5 pm AEST Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situatio
Short
by OrganicFX
1
Pound strength continuesAs discussed on last nights FX Market scan in Market Mentor: After a big move out of the BoE interest rate decision GBPCAD looks to be continuing the uptrend. See you on the next call next Monday at 5 pm AEST time Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation
Long
by OrganicFX
1
Pound Swiss strength continuesAs discussed on last nights FX Market scan in Market Mentor: After a big move out of the BoE interest rate decision GBPCHF looks to be continuing the uptrend. See you on the next call next Monday at 5 pm AEST time Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation
Long
by OrganicFX
NZDUSD short side play??That right I hadn’t played this pair well this last week. However if you have a plan, stick with the plan till you’re proven wrong! Changing from plan to plan isn’t anyway to make it as a trader because you’re guessing or at best not looking for high probability plays. My mentor used to say.... Okay, a self-taught trader doesn’t really have a trading mentor, my mentor was my late DAD. He didn’t trade Forex at all and only got into stocks very late in life. But still the same, he had words of wisdom that apply. Dad said; “ If you plan better, I mean take less crap chances you’ll get less chances to get crapped on!!” With this short side plan on USDNZD my theory was dollar stronger, stocks weaker, so a slightly over sold dollar and over bought stocks should deliver corrections to out sized moves. My overall tone is bullish USDNZD but in currentMy in the short term Selling at new highs seemed like a plan. My mistake was getting my plan and mindset into to short of chart views. Take a lesson from this weeks trades. Go with longer charts and leave the shorter patterns inside of the longer term chart pattern alone unless you get those two point in line with each other. Was scalping the short side from 68 ish last night and entered long this morning looking for a push higher to top trend channel line 6825-75 area to then go short again with better longer term limited risk and pattern resistance to play off of. Over all still a positive trading pair this week—just could have played it way better using the bigger timeframe chart pattern. All the best my friends.
Short
by PipsTradingClub
No one likes the US Dollar, but....No one likes the US Dollar but.... This weeks dollar moves has been challenging to say the least. Sticks down you’d think Dollar up. Right? Yet the Dollar was slightly down or just mixed. Gold was looking like a breakout was in play but no! Followed stocks a bit—this also should have said Dollar get a move on. Not yet! Oil moved higher into my resistance zone of 41-42 for the WTI, and that too showed dollar weakness. But on the flip side there was USDCAD Yes the CAD. Dollar weakness, no, just the opposite. The 1.3140-1.3100 or the right side shoulder of an inverted Head and Shoulders pattern on a daily chart held strong! Even in the case of higher oil prices. All week long I’ve been building a core position to the long side because imo if this one gets more stock selling and if WTI ( oil ) stalls and then dips farther, the stage will be set for a squeeze play. If USDCAD gets above the 1.3250-80 zone I feel it going to push the 1.3350-1.3400 daily fast. As always this is my plan and views. Trade your plan. This isn’t trading advice, but a different trading view and I hope you use it as educational rather then blindly following along. If you do however the risk is all yours. All the best everyone.
Long
by PipsTradingClub
EURJPY S&H shortAs I had pointed out on my earlier post I was waiting on the neckline retracement to get short and yes we got to the horizontal blue zone and not quite to my red box preferred zone. I’ll take what the markets give though. Earlier this morning took 1/2 off ( because it’s Friday more then anything as to why ) and going to search for add on opportunities. With profits taken I will also allow the balance to ride through the weekend. Have a good weekend everybody.
Short
by PipsTradingClub
NZDUSD new shorting opportunity Ok I’ll admit it! I didn’t really trade this pair all that good / well of late. Not that I lost some pips, that’s all good and comes with trading. It because I allowed myself to get caught in a smaller pattern inside of a similar large pattern. Up sloping channels. I played the small pattern only so, so! Took some pips then gave some back and in the end I was down like 10 pips or so. Not the end of the world. Doing nothing would have given me more. Lol I’m a trader at heart so when I see a opportunity I’ll try it in smaller size at first and add into it. That’s just me though. At least you all reading this get honesty in my posts. I post the bad along with the good, sprinkled with trading thoughts of the occasional so-so trades as well. On my daily chart we have this up sloping channel and it’s to late in the move to go long not to mention the divergent RSI. In addition to that we are still broken out over that black down sloping trend line, a line going back to 2014. It big and bullish for this pair so long as we are over it. So why talk about taking a short? This environment we are currently trading in isn’t easy at all. I mean stocks are down, oil up, gold down, dollar down, and I could go on. With all of these things moving without correlating much who knows what and where to trade. Right? Well I see a trend line and divergent RSI and the DXY still above it breakout zone and USDCAD pointing yo higher prices / stronger dollar, and oil over done in the short term—it is only a matter of time and stocks could sell off some before bouncing again. Ok I’m rambling some. Point is go to longer chart patterns and shorter TP zones and larger size only in the trends direction even if that is all over the place. Clearly a NZDUSD is in a up trend, but also as clearly it bumping up against a bigger pattern top. Even inside if this pattern there is counter trend opportunities with well defined risk zones worth taking imo. Just don’t forget to limit risk. I tend to trade around a core position while building it up so this limits my risk by also taking some small bites off. Well that all for now. I’m liking the counter trend opportunities around the 6800 fir a short term trade. I’m really liking this pair to tag the 70 level at some point though. Watching and trading. All the best everyone.
Short
by PipsTradingClub
3