TradingMax

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Markets Allocation
74 % forex 5 % indices 21 % other
Top Mentioned Symbols
USDJPY 42% | 8 XAUUSD 21% | 4 EURUSD 21% | 4 GBPUSD 10% | 2
TradingMax TradingMax PRO USDJPY, 60,
USDJPY: Long USD/JPY (12 hours to go until central bank meeting)
26 0 1
USDJPY, 60
Long USD/JPY (12 hours to go until central bank meeting)

Japanese central bank is announcing the rate decision and commentary regarding monetary easing in just over 12 hours. The USD/JPY has rebounded from the 116 lows and looks to continue upwards trend. There are fundamental reasons we should expect Yen to weaken: Taro Aso (Japanese Finance Minister) has changed his cautious rhetoric from scepticism regarding ...

TradingMax TradingMax PRO USDJPY, 60,
USDJPY: Channel breakout timing
60 2 2
USDJPY, 60
Channel breakout timing

I am sure many of you have been tracking this channel and trading inside it. The question is when it will break? There are no major news set for today (30/01/2015), the last trading day of the week and month, so I would expect the lower boundary to hold. Potential trades: 1) Buy in the region of 117.35-50 aiming for 118.40-50. Stop loss 117.10 or 116.8 (could ...

TradingMax TradingMax PRO EURUSD, 60, Short ,
EURUSD: New shorts after fib retracement
53 0 0
EURUSD, 60 Short
New shorts after fib retracement

Today ECB has slightly surprised everyone with their plan to start QE at 60bn vs estimated (leaked) 50bn per month. This would imply 1.08tn until Septemer 2016. This is slightly less than the end of 2016 expected, but it is the size of QE that is currently the focus. Some were disappointed with the start only in March rather than immidiate and this caused some ...

TradingMax TradingMax PRO USDJPY, 60, Short ,
USDJPY: Short breakout through flat support line in a downwards channel
49 0 0
USDJPY, 60 Short
Short breakout through flat support line in a downwards channel

A quick thought for a $USDJPY trade. Break below the flat support line would open a short trade possibility towards the intersection of the bottom of the purple channel and the blue support line. Would advise a tight trailing stop as this pair can have quite volatile reversals.

TradingMax TradingMax PRO GBPUSD, 60, Long ,
GBPUSD: Friday take profit and such needed correction
68 0 1
GBPUSD, 60 Long
Friday take profit and such needed correction

The speed and magnitude of the fall for $GBPUSD has been very protiftable for a lot of traders. However, always take care trading on Friday and today (09-Jan-2014) we might see some take profit trades to take us out of the current formations - channel an ascending triangle. Aim for 38.2% FIB retracement of the latest fall, coinciding with the highs of the second ...

TradingMax TradingMax PRO USDJPY, D, Long ,
USDJPY: Long term channel holds for now, longs until 130
65 0 2
USDJPY, D Long
Long term channel holds for now, longs until 130

See the graph for some more detail. The idea is valid while the channel holds, however if it breaks down I would be revaluating entry points to go long, unless Abe changes the rhetoric, which is unlikely at the moment. Look for technicals on short time frame to enter the trade. Trade responsibly

TradingMax TradingMax PRO USDJPY, 60,
USDJPY: USDJPY in the decision zone
172 0 2
USDJPY, 60
USDJPY in the decision zone

3 ways to play this for $USDJPY: 1) Buy now with a tight stop loss around 118.50 2) Wait for the movement up to start before buying 3) Sell in the region 118.6-118.5 In case of 1 & 2 TP is the upper boundary of the channel above 120.50 in case of 3 first TP is around 117 region, however since it's $USDJPY we are shorting take care on being Long Yen, since there ...

TradingMax TradingMax PRO XAUUSD, 60, Short ,
XAUUSD: Potential short gold with tight stop loss
144 0 0
XAUUSD, 60 Short
Potential short gold with tight stop loss

The declining resistance from he 10th December might provide enough strength to send the price downwards towards 1170 region and below. In that region a major support line can be observed, where the TP should be placed awaiting for further confirmation whether it can be broken. A tight stop loss on this trade can allow for good R/R ratio.

TradingMax TradingMax PRO USDJPY, 60, Short ,
USDJPY: Short triangle breakout
34 0 1
USDJPY, 60 Short
Short triangle breakout

My previous idea did not initiate, and I initiated the opposite trade. Currently proving to be successful. Woud buy the pair upon reaching target around 119.05

TradingMax TradingMax PRO USDJPY, 60, Long ,
USDJPY: Potential triangle breakout for a long position
36 0 0
USDJPY, 60 Long
Potential triangle breakout for a long position

A triangle in $USDJPY seems to have formed with the upwards momentum looking to break to retest the high from early December. A breakout will occur at 120.60, and then confirmation would be sough for around 120.80 (the high of the triangle formation). After 121.80 is the next target.

TradingMax TradingMax PRO DXY, 60, Short ,
DXY: Hold off your dollar longs - potential correction
32 0 0
DXY, 60 Short
Hold off your dollar longs - potential correction

$DXY shows a break above a resistance level this week, but it has approached a potential resistance at the top of the channel seen on the daily level. We might see some consolidation back below 91. Something to bear in mind for shorting oversold $EURUSD $GBPUSD

TradingMax TradingMax PRO XAUUSD, 60, Short ,
XAUUSD: Short Gold break of support and retest of it aiming further down
113 0 0
XAUUSD, 60 Short
Short Gold break of support and retest of it aiming further down

As my earlier idea on long $XAUUSD has been rapidly stopped out, the breakthrough the support lines and a retest provided evidence for a reverse direction earlier than I expected. Now a much more comfortable trade in the direction of the downward trend aiming to reach the bottom support line in the 1160 region.

TradingMax TradingMax PRO EURUSD, D, Short ,
EURUSD: Short EURUSD parity aim by the end of 2015
105 0 1
EURUSD, D Short
Short EURUSD parity aim by the end of 2015

A bold call, but a definite possible for those really long term traders out there. We are likely to see the continuation of the down-trend of $EURUSD as we enter 2015. Further QE in the US is unlikely, and at the same time the situation in Europe worsens and new stimulation measures could potentially be introduced. The closure below the 9 year trend line and ...

TradingMax TradingMax PRO XAUUSD, 60, Long ,
XAUUSD: Long Gold Double Support Bounce
76 0 1
XAUUSD, 60 Long
Long Gold Double Support Bounce

The old resistance becoming support (S1) crossing together with the more recent support line (S2). In the event Gold does drop, S2 would act as the buy level, while R1 would be the sell level, until the Risk/Reward ratio would get too small. Would not hope for a break above R1 due to the downtrend of gold and strength of dollar. If it does will be looking for a ...

TradingMax TradingMax PRO USDJPY, 60, Long ,
USDJPY: USDJPY - Time to test the new high
229 0 2
USDJPY, 60 Long
USDJPY - Time to test the new high

Looking to break the channel upwards towards the high from the beginning of the month. Little news, pure technical play

TradingMax TradingMax PRO XAUUSD, 60, Short ,
XAUUSD: Gold Short Wedge Breakout
99 2 1
XAUUSD, 60 Short
Gold Short Wedge Breakout

Low liquidity during the holiday days potentially moved the price too far up. A correction back down, given the technicals, looks very likely.

TradingMax TradingMax PRO GBPUSD, 60, Short ,
GBPUSD: GBPUSD support line break (short)
51 0 0
GBPUSD, 60 Short
GBPUSD support line break (short)

Could follow the EUR breakthrough on some news. Some 200pip movement possible

TradingMax TradingMax PRO EURUSD, 60, Short ,
EURUSD: EURUSD Short Wedge Breakout
522 0 3
EURUSD, 60 Short
EURUSD Short Wedge Breakout

I've been thinking that the breakout below 1.2215 is more likely, as (or just before) the news hit. There is significant support between 1.2180-1.2215 and it will be difficult without some pro-USD news at 13:30 GMT would determine the last major move before Christmas. Will place short at 1.2210 and SL @ 1.2245, TP will probably be time dependent before ...

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