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Author Topic: Shorts-n-longs (PA, S&R, etc.)  (Read 1435 times)

Offline alextrader79

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Shorts-n-longs (PA, S&R, etc.)
« on: July 03, 2017, 10:20:31 AM »
After a long time of reading this forum I decided to do something useful for other traders, especially for newbies.
I'm going to share my analysis and forecast on majors. I don't tell you that my analysis is absolutely right, I just focus on my decisions and tell you about my orders.
Hope it will be useful for traders.

If you want to discuss something, feel free to comment here or write a private message to me!

Best regards,
Alex

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #1 on: July 03, 2017, 10:47:10 AM »
A weak statistics on the index of business activity in the manufacturing sector of Great Britain was published today. The technical pattern indicates the correction development. Bearish Engulfing PA pattern has emerged on the chart. Ill sell GBP/USD, if the price fixes below 1.2950. The goal for taking profit is 1.2900 round level

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #2 on: July 03, 2017, 10:50:25 AM »
The USD/CAD currency pair has formed a rather strong reversal formation of technical analysis the divergence of the price and the MACD histogram. The correction is expected in the nearest future. Ill buy the pair, if the price fixes above the 1.3000 round level. Potential movement - to 1.3040-1.3060.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #3 on: July 04, 2017, 10:25:55 AM »
There is an interesting technical pattern on USD/JPY. A correction occurred during the Asian trading session. At the same time, the pair has fixed at the 112.80 mirror resistance level, it boosted its growth. I wait for the continuation of the current trend. Ill buy, if the price fixes above 113.30. Potential movement to 113.60 113.75.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #4 on: July 04, 2017, 10:27:43 AM »
RBA has retained the key interest rate at the previous level of 1.50% today. It caused a sharp drop of the Australian dollar. AUD/USD has updated its local extremes. It indicates a possible trend changing. Ill sell the pair, if the price fixes below the 0.7600 round level. The goal for taking profit is 0.7570. Ill use a trailing stop for this position. Potential entry points into the market may appear during several days.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #5 on: July 05, 2017, 10:11:05 AM »
The FOMC protocols are in the focus today. This report may indicate the possibility of raising the Fed key interest rate in the current year.

My fav PA pattern Bearish Engulfing was formed on NZD/USD near the 0.7290 resistance level. The current technical picture indicates the downward trend development. I plan to sell the pair, if the price fixes below the 0.7260 mark. Potential movement - to 0.7220.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #6 on: July 05, 2017, 10:12:51 AM »
The divergence continued on USD/CAD. It seems to me that there may be a corrective movement soon. I will buy the pair after the breakthrough and retest of the 1.2960 level. Confirmations and entry points to the market may be found on smaller timeframes. The goal for taking profit is 1.3000-1.3015.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #7 on: July 07, 2017, 10:15:39 AM »
The report on the US labor market is in the focus today. Most experts believe that the main indicators will improve. At the same time, yesterday's preliminary statistics from ADP turned out to be weak. Today, we expect high trading activity and volatility. So, I wont trade, but will just watch the market. For myself, I identified the following key levels:
EUR/USD
Support: 1.1385, 1.1325
Resistance: 1.1440, 1.1500

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #8 on: July 07, 2017, 10:16:56 AM »
USD/JPY
Support: 113.50, 112.80, 111.85
Resistance: 114.00
Illl be back to trading on Monday. I wish you all nice profits! ;)

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #9 on: July 14, 2017, 09:54:09 AM »
The publication of reports on inflation and retail sales in the United States is in the focus today. Experts expect the improvement of the main indicator. The technical picture on majors is ambiguous at the moment. I plan to wait for the statistics publication. Transactions will be opened from the key levels

USD/JPY
support: 112.90, 112.35
resistance: 113.50, 114.00

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #10 on: July 14, 2017, 09:55:31 AM »
EUR/USD
support: 1.1385, 1.1325
resistance: 1.1440, 1.1485

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #11 on: July 17, 2017, 10:23:47 AM »
Weak economic reports on the inflation and retail sales continue to pressure the US currency.
There were aggressive sales of USD/JPY on Friday. I plan to open deals in the current trend direction. The currency is in the process of consolidation now. Ill look for entry points into short positions, if the price fixes below the 112.50 local support. Potential movement - to 112.25-112.00. This transaction can last for several days.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #12 on: July 17, 2017, 10:24:59 AM »
The Canadian dollar continued to strengthen against the US dollar during the last week. I dont exclude the possibility of a technical correction now. The USD / CAD currency pair has formed a very strong reversal formation the divergence of price and MACD histogram. Ill buy USD/CAD, if the price fixes above the 1.2680 local resistance. Target movement - to 1.2740.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #13 on: July 18, 2017, 10:32:38 AM »
There are aggressive sales on GBP/USD. GB published a weak report on the inflation. Ill open deals in the current trend direction. I plan to wait for the retest of the "mirror" resistance. The goal for fixing profits is the 1.3000 round level. This transaction can last for several days.

Offline alextrader79

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Re: Shorts-n-longs (PA, S&R, etc.)
« Reply #14 on: July 18, 2017, 10:33:55 AM »
Bullish sentiment continues dominating on EUR/USD. I plan to buy the pair, if the price fixes above the 1.1535 local resistance level. Potential movement - to 1.1575. I dont exclude that EUR/USD may consolidate before the ECB meeting will be held this Thursday, July 20.

 

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