Short Term View on some majors - forex trading based on news

Short Term View on some majors ~ forex trading based on news

The following currency on H4 are almost ripe for long. I used the word almost, because the signals is not there yet. The best way to use H4 is actually see the signal in the form of the next one or two reversal candles on H4. What is required is to monitor the pair and wait for the signals. It is not advisable to pre-empt the move, wait for the sigal on H4. After a sigficant fall by most of the pairs, they are due for a reverse. The advantage of H4 is that you will get adequate notice of between 8-16 hours. We attach the relevant charts for guidance
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Medium Term View on some of the majors - online forex trading news

Medium Term View on some of the majors ~ online forex trading news

USDCAD Daily chart is currently close to a resistance that has failed to give way since June 2010. It is being tested for the third time this month. If the resistance hold then the current bullish trend could be reversed. If the resistance is eventually broken, the next resistance is at 1.08584 area. The best option for medium term trade is to monitor the pair and wait for the sigal

AUDUSAD Dily chart is currently in the middle of channel. It can go either way. The current position is not ideal for any medium term trade.


GBPUSD is on its way down, but it has not reached its destination. The current position is not ideal for medium term trade. For medium term trade, the best option to wait for the time when the current trend will reverse.

GBPJPY is getting close the end of the channel. Being a volatile pair, it is not advisable to go long yet. The last signal was given on 28 of this month and it retraced by almost 500 pips and back to the spot in 5 days. That is about 1000 pips both ways. The signal to sell was given around 137 area. If you miss either of the two the best option is to wait.
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Everything is in the chart - forex news trading plan

Everything is in the chart ~ forex news trading plan

Look at where price is at the moment, over 40 pips in the bag already! If you follow this advise the horizontal line on the RSI is the place to watch out for. If you miss the train, wait for the next set-up.
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Everything is in the chart! - forex market news paper

Everything is in the chart! ~ forex market news paper

When I noticed double top in GBPJPY early this month on both H4 and D1, I posted two charts on this tread on the likely areas (indicated by the yellow boxes on the charts) where the double top is likely to take us. From the look of things, we are heading to 126.739. If we get there, I will re-evaluate where we may likely go next. Everything is in the chart



Happy trading!
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