Short'n'longs by Alex

Discussion in 'Trading Journals' started by Alexfx79, Oct 13, 2016.

  1. Alexfx79

    Alexfx79 Active Trader

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    Sales dominate on USD/CHF now. The local support is at the 1.0055 mark currently. I plan to open short positions after the price fixes below this level. The transaction will be accompanied by a trailing stop. The next target for taking profit is 1.0025.
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  2. Alexfx79

    Alexfx79 Active Trader

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    Yesterday was full of important economic reports from the US, as well as the Fed statements. Most of the statistical data exceeded the market expectations.

    I expect the growth of demand for the US dollar today. BEOVB pattern of my favorite Price Action method has formed on EUR/USD. I’ll open short positions. Potential movement - to the 1.0500 round level.
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  3. Alexfx79

    Alexfx79 Active Trader

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    There is a downward trend on GBP/USD at the moment. The pound remained under pressure due to a possible referendum in Scotland. I plan to open positions in the current trend direction. I’ll sell GBP/USD after the price consolidates below 1.2350. Potential movement - to 1.2300.
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  4. Alexfx79

    Alexfx79 Active Trader

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    The data on the GDP of Canada will be released today at 13:30 (GMT). There was a sharp drop in retail sales, that’s why the statistics may be weak. Nevertheless, I won’t open transactions before the report. I identified the following key levels on USD/CAD:
    support - 1.3300, 1.3195
    resistance - 1.3355

    I’m going to watch how the price will react to these levels and enter into the market after releasing of the statistical data.
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  5. Alexfx79

    Alexfx79 Active Trader

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    There in an upward trend on USD/JPY at the moment. The demand for the US dollar is supported by expectations of raising interest rates by the Federal Reserve. FedWatch Tool is at 66.4%. I’ll open transactions in the current trend direction. I’d buy USD/JPY after the price fixes above 114.20. Potential movement – to 114.80.
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  6. Alexfx79

    Alexfx79 Active Trader

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    The yen weakened against the US dollar during this week. I expect a correction on USD/JPY now. A very strong reversal formation, the divergence of the price and the MACD histogram has formed on the market. I’ll sell the pair after the price fixes below 114.10. Potential movement - to 113.50.
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  7. Alexfx79

    Alexfx79 Active Trader

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    The Australian dollar significantly weakened against the US currency yesterday. Falling of quotes on AUD/USD has exceeded 100 points. The MACD suggests a possible correction. However, the demand for the dollar remains at a high level. I identified the following levels:
    support-0.7545
    resistance - 0.7575

    I will sell AUD/USD if the price fixes below 0.7545. Potential movement - to 0.7500.
    A correction to the 0.7610 resistance level may take place if the price fixes above 0.7575.
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  8. Alexfx79

    Alexfx79 Active Trader

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    There is a mixed pattern on EUR/USD at the moment. The demand for the US dollar is supported due to a possible rising of interest rates during the Fed's March meeting. At the same time, there can be a further correction as well
    I identified the following key levels:
    support - 1.0590
    resistance - 1.0620

    I’ll sell EUR/USD, if the price fixes below 1.0590. Potential movement - to 1.0550.
    I’ll open long positions, if the price fixes above 1.0620. Potential movement to 1.0670.
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  9. Alexfx79

    Alexfx79 Active Trader

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    There was a correction on USD/JPY on Friday. The divergence of price and the MACD histogram worked well. I expect a further correction on this pair. I’ll sell it after the price fixes below 113.65 local support. The goal is the 113.00 round level.
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  10. Alexfx79

    Alexfx79 Active Trader

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    An interesting technical pattern has formed on NZD/USD. I expect a correction in the nearest future. The divergence of the price and the MACD indicator will be confirming signals. I will buy NZD/USD after the price fixes above the 0.7015 mark. Potential movement - to 0.7060.
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  11. Alexfx79

    Alexfx79 Active Trader

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    The EUR/USD currency pair has maintained the 1.0570 "mirror" support level. The technical pattern indicates the "bullish" sentiment. The MACD histogram began to rise. This points to an upward trend. I’ll buy EUR/USD after the price fixes above the 1.0600 level. Potential movement - to 1.0630. This transaction is going to be short-term and has a speculative nature.
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  12. Alexfx79

    Alexfx79 Active Trader

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    The comdolls are under pressure due to weak statistics from China and a sharp drop of quotations during yesterday's trading. There is a strong downward trend on NZD/USD. I will sell the pair after the price fixes below 0.6890. Potential movement - to 0.6850-0.6825.
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  13. Alexfx79

    Alexfx79 Active Trader

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    USD/JPY retained the 113.65 support level yesterday. It caused aggressive purchases in the second half of the day. The nearest resistance level is 114.70. The demand for the US dollar is supported by the positive statistics on the labor market and the growth of yield of government bonds. I will buy USD/JPY after the price fixes above 114.70. Potential movement - to 115.00-115.25.
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  14. Alexfx79

    Alexfx79 Active Trader

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    The report on the US labor market is at the center of attention today. The preliminary data indicates the positive statistics. I also expect a strong report. Nevertheless, I usually don’t trade during such days. I have identified the following key levels:
    EUR/USD
    Support - 1.0570, 1.0530
    Resistance - 1.0600, 1.0630
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  15. Alexfx79

    Alexfx79 Active Trader

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    USD/JPY
    support - 114.10, 112.80
    resistance - 115.45, 116.70
    I’m going to watch how the price would react to those marks. I’ll be back to trading on Monday.
    Wish you all high profits!
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  16. Alexfx79

    Alexfx79 Active Trader

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    I expect a correction on EURUSD at the moment. A strong reversal formation, the divergence of the price and the MACD histogram, has appeared. I’ll sell the pair after the price fixes below the 1.0690 level. Potential movement - to 1.0650 and 1.0615.
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  17. Alexfx79

    Alexfx79 Active Trader

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    The technical pattern on GBPUSD indicates the buyers’ strength. The price has held the 1.2150 key support level. The MACD histogram began to rise. I will buy it, if the price overcomes the 1.2225 local resistance level. Potential movement - to 1.2300. I will use a trailing stop here.
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  18. Alexfx79

    Alexfx79 Active Trader

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    The aggressive buying is observed on GBPUSD today. The pound has weakened against the US dollar by more than 90 pips. I’ll open transactions in the current trend’s direction. I plan to wait for a correction to the 1.2135-1.2150 demand zone. Potential movement – to 1.2100-1.2075.
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  19. Alexfx79

    Alexfx79 Active Trader

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    USDCAD is traded near the 1.3455 mirror resistance level at the moment. I’ll look for the entry points into the market to buy the pair, if the price fixes at that mark. Potential movement - to the next round level of 1.3500. The demand for the dollar is supported by the growth of profitability of US government bonds.
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  20. Alexfx79

    Alexfx79 Active Trader

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    This day will be full of important economic reports and news from the United States. The US Federal Reserve may raise the interest rates for the first time in 2017. The FedWatch Tool is at 90.8% now. It seems to me that the regulator is likely to tighten the monetary policy. At the same time, this event has already been added to the price. It is necessary to monitor the comments of the Fed representatives. The demand for the US dollar will grow, in case if the regulator announces another possible increase of the interest rates.

    I won’t open any deals today as I’m planning to wait for the Fed’s decision. I'll be back to trading tomorrow. For now, I’ve identified the following key levels and I’m going to watch how the price reacts to them. Wish you all high profits! :)

    EUR/USD
    Support levels: 1.0600, 1.0530
    Resistance levels: 1.0670, 1.0710
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