GBP/USD Short Trade.

Reason:
Resistance @ 1.6739
Divergence at resistance
Price did not hold above resistance

2 Nov: Potential EUR/USD Buy

Setting M2B on daily

 

USD/CHF Trade 1

Forming potential M2S

USDJPY

Missed this trade entry by 5 pips….

USDCAD

USD/CHF approachig Parity?

Although the pair has formed a bullish engulfing pattern, the prior support is 1.0050 which is very close to Parity….

GBP/USD

USD/JPY

PM2 Sell if forming up… if it coincides with resistance at 92.52, I will risk 1.5% of my risk capial.

Trade analysis of the week

EUR/USD
Euro is at critical level. I will test the market with reduced risk of 1%

August ‘ 2009 Singapore

Most pairs have broken out of their support and resistance areas.

EURUSD

Price broke out of previous res at 1.4338 and reached prior major resistance @

1.4412.

I am still looking to go long on a 4H chart if the right set-up is formed.

In future, I will participate in breakout trades by risking about 0.5-1% of my trading

capital.

USDJPY has formed a M1B setup. ­

However it is sitting at previous resistance and 40MA as resistance.

Also, on daily chart, it has formed Divergence to go short

In addition, USD seem to be weakening if we look at EURUSD and GBPUSD but this pair is moving

in another direction…

GBPUSD:

Formed m2b at resistance and broke it.

I did not take the trade. It is now trading in another resistance zone formed by swing low of

I will buy on dip if this trend gains momentum.

USDCHF:

Same story. Formed M2S near support. Trading in Support

USDCAD:

This pair has broken Support with an M2S signal. Will watch out for going short.

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