On weekly you see price retracing on average of about 400 pips. At this moment, GBPUSD has retrace about 480 pips and it could either be a steep retracement or a start of something new. Personally I will trade with the trend till it ends. On daily you can see that the 1.6700 is a […]
NZDUSD weekly is trading higher with 350 – 400 pips range. NZDUSD daily is approaching 0.8400 which a key area to watch out for. Further more I expect a cluster of stops just below it as those who went long would probably placed their Stoploss just under 0.8400 With that in mind, I will be […]
I’m sure all of you have heard this term Risk to Reward Ratio in trading. This term is so grossly overused by most traders. They usually say you should aim for a minimum of 1 to 2 risk reward ratio. In other words your profit target is twice your stoploss or you stand to make […]
On daily, we can see price making lower lows with strong momentum. The bearish candles are relatively larger compared to the bullish ones. On 4hour, we see that 1.3440 is an area to watch for with price bouncing off couple times. I will be looking to sell should price retrace back towards the 1.3440 area. […]
Very often we have come across traders setting their trade to Breakeven. Most traders do it because it is psychologically comforting to know you’re in a risk free trade with nothing to lose and everything to gain. The most common scenario of setting Breakeven is when a trade hits 1 to 1 or 1 to 2 […]
An indepth analysis of why I shorted Audnzd and more!
The Pin Bar Trading Strategy is a popular method for trading however not many traders discuss the drawbacks that comes along with it. In this article I’m going to present you the 2 problems I encountered when I traded the Pin Bar Trading Strategy. 1) Pin Bar Trading – Frequency If you’re going to be discipline and strictly trade […]
Weekly chart is in a clear uptrend, thus I’m looking for an area to long the Cable. On daily chart, we see that the 1.6920 is a key area to look out for. Long 1.6900 SL 1.6790 1st target 1.7150 On weekly chart the trend is up and notice how price likes to retrace 400 […]
On the weekly chart, we can see price has a confluence of an upward trend line and support area. The weekly candle is not closed yet thus we could still see a potential hammer forming. On the daily chart, those who went long would have cut their losses when price took out the lows at […]
Let’s look at the majors this week and where they could be headed.