Showing posts with label 60-Minute Chart. Show all posts
Showing posts with label 60-Minute Chart. Show all posts

Thursday, 31 October 2013

Possibly Looking to Pick up An AUDJPY Contract if My Price is Met

Looking at AUDJPY ~ I would love to have bought in the high 80s the last time it was in that vicinity - oh wait, I did, but I did not hold. My living circumstances at the time contributed to a poor trading environment, but that is another post altogether.

Looking at this hourly chart for AUDJPY, I am looking at the area below current prices as a possible buying point. If I were more aggressive, I would buy now and say the hell with it, but that latest hourly candle is looking like a hammer, which means down further possibly. The 92.60-90 area could be a great buying opportunity as a potential demand zone, if it holds and moves back up into the next supply area at 0.9350ish. I have a pending order at this point in that area and I am watching closely the data coming up in the next few hours.

Wednesday, 30 October 2013

NZDCHF Update on the Hourly

Not too much movement, the pair has been confined to a 40 or so pip range since I took the deal, but it seems to have broken the first line of resistance drawn on my chart here (diagonal descending trend-line in red). It is still below the two parallel lines of resistance which I consider a possible sell area slightly above.

Risk event is of course the RBNZ rate decision and the accompanying statement:
http://www.rbnz.govt.nz/monetary_policy/ocr/
Forex.com provides a bit of insight here:
http://www.forex.com/post?SDN=fba3bc39-0af7-423a-9394-561668b47628

Tuesday, 24 September 2013

USD/CHF Attempting Retrace above 0.9100

EUR/USD has fallen from the highs this morning on worse than expected IFO data, and is now below 1.3500 again, as this pair is inversely correlated to USD/CHF, the latter is moving up off of it's lows of .9080 from two days ago. 60 Minute chart:

Any long positions would probably want to keep a relatively tight stop below 0.9180-70, but an earnest breach of the 0.9100 handle would probably invite more sellers and stop-loss selling for a target of 0.90 or lower. On the other hand, a move above 0.9120 would target the 0.9130-35 highs of September 23, 2013, beyond which we have 0.9175 or the 0.250 %  Fibonacci retracement of the post FOMC drop from September 18, 2013 after the lack of Fed Tapering in September was announced. Going long here makes sense if 0.9130 is taken out convincingly for a move back above 0.92 in the next day or two. I am long from 0.9110 with a small position.

Wednesday, 26 September 2012

AUD/JPY Update, 5-min Entry becomes and Hourly Chart Trade...A Day Later.

My AUD/JPY did in fact go up, as I had anticipated, but not by much...


The good news is that a new trend may be forming (the potential reversal) I wrote about earlier. If this keeps up, the trend line I have drawn at the bottom right hand of the chart could support further advances. The bad news is that I have two trend lines that could be areas that short money could attract (selling AUD/JPY) ~ The nearest to current price could cap advances near 81, which would still be a good trade, but the next would cap somewhere above 82, which would be an excellent trade.

Wednesday, 19 September 2012

AUD/JPY Looks Like a Triangle in the Play

Earned money on this last night, while I was asleep, buying in again, this time lighter contract, because I'm relaxing, and I've hit my monthly goal.


Went long at 82.10, hoping to catch 60 - 65 Pips, risking about 20 pips. Japan's Aug. Imports fall 5.4% from a year earlier, not sure if this is bad for risk or bad for the YEN, or one might cancel the other out. I'll see in the next few minutes on the reaction.