toyogo00
02-07-2009, 12:40 AM
Hi,
I usually trade EURUSD but it has no direction today. Thus I've a look at other pairs including GBPJPY and AUDUSD. I've also sent emails to Neal for his comments on both pairs.
The video from FibMaster on AUDUSD, support @0.6471 and above 0.6550 will get into bullish zone:
http://www.dailyforexcharts.com/charts/090205_audusd_rt/090205_audusd_rt.html
Setup:
a. At 2:00am EST (my chart shows Paris time @08:00am), trsi for daily, 4hourly and hourly have all crossed up.
b. The price on hourly chart has retraced to 0.6470 SK support, touched the upward trendline then rebounded strongly up. The 15min chart shows a HH and HL price action.
Trade:
At 2:45am EST, enter long @0.6540; SL @0.6460 (just below SK support); P1 @0.6650 and P2 @0.6770 (FE 100 and FE161.8).
I am very tempting to exit when the price stalled @0.6586 for few hours- the 15min SK resistance and FE61.8 level. However, it has only moved up for about 40pips thus I moves the SL to 0.6540 (BE) instead.
At 9:15am EST, P1 hits @0.6650 for 110pips
At 13:00 EST, P2 hits @0.6770 for 230pips
Regards,
Toyogo
I usually trade EURUSD but it has no direction today. Thus I've a look at other pairs including GBPJPY and AUDUSD. I've also sent emails to Neal for his comments on both pairs.
The video from FibMaster on AUDUSD, support @0.6471 and above 0.6550 will get into bullish zone:
http://www.dailyforexcharts.com/charts/090205_audusd_rt/090205_audusd_rt.html
Setup:
a. At 2:00am EST (my chart shows Paris time @08:00am), trsi for daily, 4hourly and hourly have all crossed up.
b. The price on hourly chart has retraced to 0.6470 SK support, touched the upward trendline then rebounded strongly up. The 15min chart shows a HH and HL price action.
Trade:
At 2:45am EST, enter long @0.6540; SL @0.6460 (just below SK support); P1 @0.6650 and P2 @0.6770 (FE 100 and FE161.8).
I am very tempting to exit when the price stalled @0.6586 for few hours- the 15min SK resistance and FE61.8 level. However, it has only moved up for about 40pips thus I moves the SL to 0.6540 (BE) instead.
At 9:15am EST, P1 hits @0.6650 for 110pips
At 13:00 EST, P2 hits @0.6770 for 230pips
Regards,
Toyogo