Analysis on chart. Look for oversold readings in lower timeframes to enter long, ideally. Target is on chart for each pair. The chinese data has been positive for the time being, it's possible to see a retracement rally soon before the main trend resumes.
Good luck, Ivan Labrie
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Almost 100 pips up since publication.
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Trail stop using a 10 period moving average of the lows or the 4 period moving average of the range (HL2).
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Trail SL
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Good retracement buy!
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Added to longs on retrace. Optimal today.
Trade active
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On track.
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(We can trail stops to 0.6695.)
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Might be wise to book some profits and place stop at entry price for the rest of this move.
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Minimal dent on NZDUSD, AUDUSD looks simply too weak.
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Safer to close NZDUSD long and wait.
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3.6R long.
Trade active
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Taking AUDUSD for a spin here.
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We trailed stop with our group and have orders to add to it.
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Had added at 0.72191, stop 0.71894, closed half at 0.7249.
NZDUSD, I bought 0.67733, stop 0.67594 and closed all at 0.68199.
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You can add to AUD again...weekly uptrend will confirm by this week's close...
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LearningForex
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Ivan thanks for great analysis, can you throw some light on GbpAud pair? would appreciate that
IvanLabrie
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Thanks for the comment.
About GA, sure, it's a great pair to trade.
I've been busy lately but I'll update it today.
LearningForex
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Thanks..
IvanLabrie
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You took my short signals?
LearningForex
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No i missed it :(.. i was long but exited the long and went shorted at 2.09 and covered at 2.078. so now looking for a re-entry
IvanLabrie
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Ah too bad.
Not a bad short, yours.
Have to wait to go long again. Or to reshort, I'd only trail the active short.
LearningForex
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okay.. it looks like it would re-trace to 2.09.. thinking to re-enter from there..
IvanLabrie
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I don't reccomend it.
My suggestion is to wait for a dollar setup.
I will post one, a big one soon.
Don't risk your profits in a dangerous trade entry.
LearningForex
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okay.. appreciate your view. I shall wait for your post and another opportunity. Thanks for being prompt :)
IvanLabrie
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No prob, I just don't reccomend overtrading or trading because you feel you 'missed out' on a trade.
Forex isn't the best thing to trade, for larger trending moves, there's that too.
You can trade 4h setups and focus on maximizing hit rate and risk/reward instead of seeking large moves.