Update The trade did retreat and hit the stop loss. As you can see the profit covered the swap and added 3 cents. We are back to snuff in just a few minutes of trading. I will watch for the rate to retreat towards the 23.6% retracement and take the trade again. Original Post Here…
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USD/CHF entered short at the 23.6% retracement level. We are below the 200ema, so if we straddle the 50ema on the way down, we could potential get a Catapult set up too.
The 23.6% retracement buy level triggered.
Shorted AUDNZD at the 0% retracement level. We have a fresh new reversal signal.
NZD/JPY swing trade. We entered at 64.807 which is the 38.2% retracement level. Target profit level 68.09.
A channel to the downside has formed. The upper channel resistance held and rejected the move higher. Let’s see if the lower highs and lower lows continue. We have a lot of room to channel support below the 50 ema.
CHF/JPY forming a pennant. The 23.6% and 38.2% Fibos were triggered. Let’s see if the higher lows stay in tact.
The rate went to the 23.6% retracement, but didn’t hit my bid. Let’s see if we get another chance or it falls away.
Potential setup here. Looks like we may be bouncing off support. Entry on the 23.6% Fibo and 38.2% as a 2nd entry. Target 61.8% and 100% retracement levels.
The GBPAUD trade I posted on April 13 is finally coming to be. We entered a short trade at 1.96025 and now have about 130+ pips profit. Earlier today the rate fell to the 1.9350s area so we have about 250 pips. Our risk to the account wasn’t large. I traded the smallest increment at…
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