USD/CAD loss

USD/CAD D1 chart

My stoploss got hit, well I'm really expecting that since I just gave a little risk to this trade. By the looks of it the price needs to consolidate before going upward.

Loss= -53.4 pips

My plan here is to look for a better position probably in lower timeframe.

AUD/USD update

AUD/USD D1 chart

Price just hit my short entry earlier this day.

Stochastic line is going near the oversold area. MACD line looks like crossing the signal line but need to wait till the closing price and histogram started to show some selling volume. RSI is just above the oversold and about to pass the 30 level. ADX line starting to confirm the trend which is bearish.

GBP/USD update

GBP/USD D1 chart

I don't know what is holding back the price to move continuously downward but I'm still bearish on this pair. Got another waiting short entry.

Stochastic line approaching the 50 level will be the best confirmation on my opinion. MACD histogram showing a weakness on buying together thing the line about to cross 0 level downwards. RSI line is just below the 50 level signaling a more downward movement. Still waiting for more visible upward bend on ADX for confirming the trend.

USD/CAD long entry

USD/CAD D1 chart

I should have noticed this earlier if the ADX bent line was shown clearly.

We are seeing here a bullish divergence. Price made a higher low. Stochastic made a lower low. MACD line made a lower low. And the RSI made a lower low. Three indicators plus confirmation of new trend form ADX.

AUD/USD trading plan update

AUD/USD W1 chart

This is just an update to my trading plan here. Since the price is still ranging inside the channel, I have decided to put a short entry just below the lower channel line. Now it will just be a waiting game to which direction will the price go.

USD/CAD profit!

USD/CAD D1 chart

ADX just shown a bent line signaling an end of the trend and also our signal to bank the profit. But what I did is moved my stoploss line just above the high of 26-Jul-2013 bar. I am planning to trail my stoploss as long as I got time to monitor the price movement at lower time frame.

UPDATE

Stoploss just hit giving me 66.2 pips profit! Earlier this day it was more that 100+ pips but since there is no clear signal of end of trend, I did not close my trade. My next step will be looking for a long entry if this is going for a bullish trend.

GBP/USD update

GBP/USD D1 chart

Good thing I was able to set a new short entry before going to the doctor. My next move now is to add more short entry. I will be looking for opportunities at lower timeframe probably at 15 minute chart.

I hope that at the end of trading day the RSI line will stay under 50, and stochastic line will stay under 80. It will be a good confirmation if ADX will start to bend to the upward direction. MACD's histogram is still suggesting a more decline together with the bent MACD line going towards 0.

GBP/USD profit at trailing stoploss

GBP/USD H4 chart

I was able to profit just 5 pips because I secure some profit by moving my stoploss when the price started to go down. I didn't expect that the price will try to revisit my entry area before proceeding to go down.

My next plan in here is to look for another good entry for a short trade. But if the price break the pivot area at 1.53595, I might set a long entry.

USD/CAD update

USD/CAD D1 chart

It seems that we are still in a bearish trend in this pair. I would like to add a short entry if there will be a small pull-back in order for me to have a better position. I am looking at 1.0290-1.030 for the area of the pull-back before it continues downward.

GBP/USD update

GBP/USD H4 chart

So my short entry was hit before the market closed last week. My initial target here would be somewhere above 1.5250 since it looks like there will be a resistance at that area. But if the price break that area, it might test the 1.50 level.

USD/CAD update

USD/CAD D1 chart

Price is still hanging on the bullish line so I decided to move my SL above the previous highs of the 2 recent days. If price continues to go down, I will add a new short entry. If the price spikes up and hit my SL, I still got profit.

My new entry will be decided next week because I would like to see where the price will close in today's trading.

GBP/USD short entry

GBP/USD H4 chart

Here at this H4 chart I've seen a bearish divergence formed under the 38.2% of the Fibonacci Retracement that can be seen here. My entry is just below the previous bar's low and my SL is position above the 38.2% of Fibonacci Retracement.

GBP/USD profit

GBP/USD H1 chart

My first profit here in this chart I just got a 9.2 pips. I got this because I tried to secure some profit. I moved my SL below that what I think is a support line but as we can see, the price tried to break it and eventually decided to move up again.

The second profit which is  0.6 pips is when I decided to get again to the market since it bounce up after breaking the (what I think is a) support line. But after a few hours and the price movement is only going sideways, I manually closed my trade.

With this closed trades and profits, I can peacefully sleep without thinking that the market might pull me back again to the negative side of my position.

AUD/USD trading plan

AUD/USD W1 chart

AUD/USD D1 chart

Looking at the weekly chart, it seems that the price ended the bearish trend. A break of the top channel is the signal for the bullish trend.

I am planning to put a long entry just above the top line of the channel. I will be having my stop loss some pips below the top line.

GBP/USD update

GBP/USD W1 chart

The price is just below the 38.2% of Fibonacci Retracement.

GBP/USD H1 chart

The H1 time frame clearly shows a resistance below the 38.2% of Fibonacci Retracement. If a Bearish Divergence show up here, I might close my trade and hopefully get a profit.

USD/CAD update

USD/CAD D1 chart

The price is currently testing the bullish trend line from 09 May 2013. I would like to see the price to break this before the end of today's trading. Upon breaking the next target will be the bullish trend line from 14 September 2012.
As long as price stay below 1.03250, I still think that the decline will continue.

Stochastic lines are still in the oversold area, meaning of a further decline. MACD line below the 0 level showing more downward movement together with the Signal line about to cross. RSI line retesting the 30 level just above the oversold area. ADX line showing strong trend which is currently a bearish trend.

Since the ADX line is above 40, a downward turn can make me decide to close the trade and bank my profit.

GBP/USD update

GBP/USD D1 chart

My entry was just hit. Stochastic is already in the overbought area. MACD is still about to cross the 0 level. And RSI is just below the overbought area. ADX line pointing upward still confirms the upward trend. I would like to see the price to break the 1.5410

USD/CAD update

USD/CAD D1 chart

So far, still good. Price just surpassed 1.03250 resistance. In here I am just relying on MACD line which is now below the 0 level and ADX line confirmation of the trend.


USD/CAD W1 chart

From the weekly chart, my initial target is somewhere below 1.020 level. But if my guess is right, the bearish trend will have enough power to break the bullish trendline.

GBP/USD Bullish divergence at Weekly chart!

GBP/USD W1 chart

They say that a weekly divergence means that there will be a significant countertrend move. I know I am a bit late on this trend but my plan now is to look a good entry in Daily chart of even lower like in H4 or H1.

XAU/USD Bearish divergence failed!

XAU/USD D1 chart

I think Bernanke is right when he said that "Nobody really understand gold prices and I don't pretend to understand them either" because I don't understand it either.

My failed analysis of a bearish divergence can be seen here.

USD/CAD update

USD/CAD D1 chart

Currently having a +40 pips. Would like to see the price to break a resistance at 1.03250 before the end of today's trading.

Stochastic lines  are now at the oversold level. MACD line is suggesting move downward movement. RSI pointing downward to the oversold area. And ADX is starting say that there is a trend going on.

The weekly chart is still suggesting a bearish trend.

XAU/USD Bearish Divergence!

XAU/USD D1 chart

I'm seeing a bearish divergence in GOLD. But my current balance is not sufficient to play this trade. I will just keep this trading setup to prove if my analysis of this pair is profitable or not.

AUD/CAD loss and update

AUD/CAD D1 chart

I got a -130.2 loss here. I guess the break-out from 0.950 is just a confirmation for reversal of trend.

Here we can see a Bullish divergence. I still have my previous long entry posted here. The price still need to break the recent swing high just below the 0.970 level.

EUR/AUD divergence?

EUR/AUD D1 chart

This looks like a bearish divergence. I would just wait for a bit for more confirmation before I put up a short entry here.

My initial analysis of a Head-and-Shoulders set-up failed as what I have posted here. But just like what I have thought, the price is going downward.

USD/CAD update

USD/CAD D1 chart

My short entry was hit earlier that expected. Currently having negative pips. I am hoping that the price will start to go down when the NY market starts.

AUD/CAD update

AUD/CAD D1 chart

I was expecting for a bullish trend since the price has been in the oversold region for a long time. But then the price decided to break the lower line of the pennant and continues to go lower.

Stochastic K just entered the oversold area again after almost a three weeks. MACD histogram is starting to show more bullish power and MACD line which crossed the signal line. RSI line is testing the oversold area. ADX line is starting to confirm a trend which I think currently is a bearish trend.

Looking at the ADX of weekly chart confirms the continuation of bearish trend. But since the line is already above 40, I will be monitoring this to make sure of getting out of the trade before the bulls come to take over.

USD/CAD profit

USD/CAD D1 chart

I moved my SL  when I saw that the price is making a pull-back just to make sure I will have a profit. My next move will be looking for a support at a lower time frame preferably at H1 or H2 and set again another short entry.

profit of 119.7

EUR/AUD loss

EUR/AUD D1 chart

I was really confident about this set-up when the price break the resistance line even though this is my first time to trade a head and shoulders. But then, the effect of the news about the weakness of USD and strength for EUR made the price to pull back.

I'm still optimistic that the price will go down. I hope a good divergence will show up to support the downward movement.

I still got a short entry below the trend line, hoping that it won't get hit and then go up again.

loss pips of -206.2

EUR/USD trade ended update

EUR/USD H1 chart

I really thought that the price will continue downward, but was wrong giving me a -64.6 pips.

It did went downward but I guess that the effect of USDOLLAR losing strength is related to the gain of this pair.

update 11.04.2013 EUR/USD D1 chart

I just found out that ADX gave me a signal that the trend was about to end and I failed to see. ADX line turning downward mean end of the trend.

AUD/CAD update

AUD/CAD D1 chart

I moved my long entry earlier. I tried looking at a smaller time frame and I considered that bar on 2nd of July to be a swing high.

My current positions here are:
Long entry: 0.9720
Short entry: 0.950

USD/CAD entry

USD/CAD D1 chart

I had a short entry at 1.0530 because I think this is a bearish divergence. The price is sort of making a higher high but all the three indicators are making lower highs.

EUR/AUD update

ERU/AUD D1 chart

This pair is doing what I had predicted but I'm a bit worried on the ADX since it didn't bend upward to confirm a trend. Hopefully after few days ADX line will bend upward.

EUR/USD re-entry

EUR/USD H1 chart

I have spotted a bearish divergence in H1 and positioned my short entry at 1.2840 but my platform triggered at 1.2839 wasting 1.0 pips. I aggressively entered a short here even-though RSI didn't make a lower high peak.

EUR/AUD head and shoulders?

EUR/AUD D1 chart

This will be my first time in trading the head and shoulders chart pattern. I decided to put my short entry at 1.400 which is just below the neckline.

There was actually a sign of divergence at the first shoulder and head but good thing I did not look at this pair earlier. Stochastic line K is showing a downward trend together with the MACD line and RSI line. I hope that ADX will start bending it's line upward to confirm the new trend.

AUD/CAD update

AUD/CAD D1 chart

Correction on my short entry, I moved it on 0.950.

If prices still move inside the pennant line, I would probably move my long entry at 0.970. Need to wait and see for few more days.

EUR/USD trading closed

EUR/USD D1 chart

I moved my S/L this morning at 1.2860 and it was hit giving me 189.4 pips. My plan now is to look again for resistance that will  make the price go down or a signal suggesting the continuation of a downtrend.


EUR/USD m5

I tried my luck again at scalping but failed for the second time. This gave me a -20.2 pips. My indicator in this trade was the stochastic line K at 50 level, RSI line going down and MACD line and histogram signaling a downtrend. I thought the trend will continue but I guess the bulls are so strong that the trend continues upward.

AUD/CAD is making a pennant!

AUD/CAD D1 chart

I will having a new trading plan for this pair. Because of the recent price movement, I just noticed that this is making a pennant. Judging from my other indicators, I strongly believe that the price will go up. But just in case I am wrong, I will be placing 2 trades in here. A long entry at 0.978 and a short entry at 0.948.

If the price still continue to make the pennant, I will be changing my long and short entry to the most recent swing high and swing low.

AUD/CAD entry changed

AUD/CAD D1 chart

I've decided to move my entry at 0.950 with a tight S/L and hoping for a bounce at that level. Stochastic indicator is showing that the price will go down but RSI line is pointing upward.

EUR/USD update

EUR/USD D1 chart

I wasn't able to post yesterday because I was so tired and then felt asleep. Earlier this morning I moved my target profit below the support line. The reason is I think, based from the weekly chart, there will be some more downward movement. Honestly, I really don't set target profits (except for short term trading) but in here it is only for my reference of where I think the end of the trend will be. I will closely monitor the ADX line for downturn after it reaches the 40 level. Currently my target profit is positioned at 1.266 but definitely will change according to the price movement.


EUR/USD W1 chart

AUD/CAD update

AUD/CAD W1 chart

All my indicators are still in the oversold area. From the looks of MACD histogram it seems that the bears are losing momentum. Any moment we will see a hint of reversal (I hope).

EUR/USD update

EUR/USD D1 chart

Oh yes! Another boring day! Still waiting for the price to break that resistance line. Stochastic is still in oversold area and RSI is pointing again downward towards the oversold area too. MACD is showing a weakness on its histogram so I might move my stop loss near my entry just to lessen my loss. I wish tomorrow when I wake up that the price will be under 1.298