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AwaberA's trading journal

Discussion in 'Technical Analysis' started by AwaberA, Nov 23, 2015.

  1. AwaberA

    AwaberA New Member

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    Hello, dear forum members!

    I would like to share my forex analysis in this thread.

    And first is about EURUSD:

    The downwards trend in this pair continues, but it has slowed over recent days. The price is still contained within the long-term bearish channel but a few trend lines have been broken which shows the move getting shallower.
    [​IMG]
     
  2. AwaberA

    AwaberA New Member

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    The GBP has been kind of holding up against the USD, even though it has been drifting downwards, and it logically looks like a good short trade. I think if we are going to see any really sharp moves with this pair it is going to be on the short side.
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  3. AwaberA

    AwaberA New Member

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    This pair is slowly swinging higher but just cannot clear significant resistance at 123.77.
    [​IMG]
     
  4. AwaberA

    AwaberA New Member

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    The zone from 1.0215 to 1.0240 is the last remaining obstacle to a new multi-year high in this strongly trending pair, and it held again during the previous Asian session, with the price currently trading below this week’s initial opening price.
    [​IMG]
     
  5. AwaberA

    AwaberA New Member

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    Gold prices settled at $1078.33 per ounce, falling nearly 1% over the course of the week, as the metal struggled against a stronger dollar driven by the increasing likelihood of an interest rate hike next month.
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  6. AwaberA

    AwaberA New Member

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    there has been a nice move up prompted by a bullish break of the long-term bearish trend line that had been containing the price, as shown in the chart below.
    [​IMG]
     
  7. AwaberA

    AwaberA New Member

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    Regarding the GBP, there is nothing due today. Concerning the USD, there will be an announcement from the Federal Reserve on an unknown topic.
    [​IMG]
     
  8. AwaberA

    AwaberA New Member

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    A trip up to the area above 1.0700 with a touch of this line and sharp rejection would probably be a great opportunity to get back into this trend which is well supported by fundamentals and market sentiment.
    [​IMG]
     
  9. AwaberA

    AwaberA New Member

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    Since this week opened, the pair is starting to fall again, especially since London opened, and it looks very much like being a down day as there is no scheduled news likely to turn it around. However any fall could quite probably halt at the big round number of 1.5000 which we can expect to provide support.
    [​IMG]
     
  10. AwaberA

    AwaberA New Member

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    There are two significant areas to watch right now: the area at around 1.0830 has acted as key highs and lows over previous weeks, and this is the area at which the price paused in its sharp upwards move last Thursday.
    [​IMG]
     
  11. AwaberA

    AwaberA New Member

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    Over the past 24 hours this pair has broken up past the resistance level at 123.24. This is a bullish sign and a short-term trend line now emerges in the chart below which has acted as mobile support over recent days.
    [​IMG]
     
  12. AwaberA

    AwaberA New Member

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    The level at 1.4000 was strong resistance so can now be expected to decisively flip to support, unless the mood of the market changes quite radically. That is unlikely to happen before the FOMC Meeting Minutes release due later after London closes.
    [​IMG]
     
  13. AwaberA

    AwaberA New Member

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    Go short following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.0800 and 1.0810.
    [​IMG]
     
  14. AwaberA

    AwaberA New Member

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    Long entry following a strong bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7005.
    [​IMG]
     
  15. AwaberA

    AwaberA New Member

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    Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 1.4750.
    [​IMG]
     
  16. AwaberA

    AwaberA New Member

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    We have had a quite bullish looking move up from 1.0017 during the last few hours as at the time of writing which suggests the day’s direction is probably going to be upwards.
    [​IMG]
     
  17. AwaberA

    AwaberA New Member

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    Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 118.00.
    [​IMG]
     
  18. AwaberA

    AwaberA New Member

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    We should beware of the levels at 1.4564 or 1.4600 as places where a halt or turn from the fall is quite possible and there are some initial signs of a possible bottoming out at 1.4600, so it is possible to take a long from a bounce here but be very careful.
    [​IMG]
     
  19. AwaberA

    AwaberA New Member

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    Although we can see that the support at 0.7000 still has not been breached and if we do get some bounce back in the stock markets then 0.7000 could be a good launching pad for a long. However the safer trades are with the trend which is very much down.
    [​IMG]
     
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  20. AwaberA

    AwaberA New Member

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    You had better go long following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.1238 and 1.1213.
    [​IMG]
     
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