Larger Picture for AUDUSD - forex market news trading

Larger Picture for AUDUSD ~ forex market news trading

This is the larger picture for AUDUSD. The next target for the bull is 0.98400 before a retrace is expected.

I dont trade AUDUSD regularly, but that is where I am watching for a long term trade. As you can see, I have a sell order waiting at 0.99990. This is not recommended for short-term traders. This is purely a long term trade and I am willing to wait for over 500 pips or more. This can take weeks of even months to happen so be warned.

I dont expect it to get there, but would be a pleasant surprise if it does. 0.98400 - 0.99000 is the area I will be willing to pull the trigger manually, if I see a sell signal on the weekly. At that point AUD will damn too expensive against the dollars.

These areas are obvious in the daily and weekly charts attached.

Happy trading!
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GBPJPY See where we are! - forex news trading guide

GBPJPY See where we are! ~ forex news trading guide

[quote=Articulate;4548624]



GBPJPY moves is usually 1000 pips per movement with a pause every 500 pips. The 1000 pips support and resistance points are depicted by the yellow lines, while the 500 pips resting points are shown by aqua color.



The red zone on the 14 days period RSI is the sell zone, while the blue zone is the buy zone. The horizontal line on the daily RSI tells you when a movement is weak or about to reverse. The daily chart is the best guide for this style.


The charts are attached. Have a colourful weekend![/quote]





I mentioned that the above posting is classical. See where we are on the weekly and daily charts. For short term traders, I attached H4 charts. I intend to post GBPJPY charts at the beginning of every quarter. Expect another one in May 2011
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The retrace is almost complete - forex news trader mt4

The retrace is almost complete ~ forex news trader mt4

The retrace which started when price reached around 1.60000 in August is almost complete. I.60000 is the target now. How many days are we going to spend between 1.58385 and 1.60000? I dont know. What I know is that a daily candle above or below the box will signal the next direction.



This daily chart has been valid since August. I will update the daily chart whenever we move out of current box. The daily chart gives the trend, which is still up, the H4 gives signal of when to trade and M15 is for entry.



I have alway said it trading within the concrete zone is the best option for any retail trader who desires success. Afterall, if your Account size is $1,000.00 and you trade 0.10 lots, you only need to make $100 a month (about 100 pips/month or 5 pips/day) to grow your account by 10% monthly. If you are able to achieve this regularly within a year, you will outperform most Funds/Fund Managers.



If you have the above mindset, your success is almost guaranteed in this highly volatile endeavour.



Happy trading!
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Bigger Picture for AUDUSD - forex news.gci trading

Bigger Picture for AUDUSD ~ forex news.gci trading

Audusd is currently trying to move back to the top of the weekly trendline from 0.80634, when the took off to the currently high. The trendline is what it holding the pair from rising higher for now. If the weekly successful opened and closed above the trendline, then the trend will resume on the higher time frame. If the trendline holds, the a fall to 1.02500 which is the base for the current move is possible. A fall below will drop the pair back to its concrete zone 1.02500 - 0.95000 where it traded for the past 6 months.

My view is that a big reverse is in the horizon, the monthly, weekly, daily are all dangerously close to the overbought zone. A touch of 50 point mark is due on the daily RSI.

Recommendation: short whenever H4 enters the yellow zone and take profit if it drops back to the 50 point mark on H4 RSI

This is the bigger picture.
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See where we are! - forex market news mt5

See where we are! ~ forex market news mt5

Look at where the price is at the moment! The price moved above 1.60000 by about 20 pips, came down straight and closed around 1.58385 support. There is nothing better than trading within concrete zones. As I mentioned earlier, the current zone is valid until the daily candle closes either above or below the box. See the current range clearly depicted by M15 chart below.

Happy trading!
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The blue zones - forex market gold news

The blue zones ~ forex market gold news

See where we are on the blue zones. It is always useful to plan ahead. I will be updating the blue zones every two weeks
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