Learn to Trend - page 6

[yyc196 Yauw]

Eur

Hi,

Drew two strong resistance lines on EUR. If the head and shoulder still valid then I will try to short EUR after it hit the resistance.

Keep watching closely.

[yyc196 Yauw]

Nfp

Hi,

Today is the "big" day of the month where an important news will be released in a few hours time.

Looking at the current chart of the 4 majors, the movement now is a bit slow. I don't dare to enter any intraday trade now till more tell tales sign appears.

[yyc196 Yauw]

Cable

Hi,

After the NFP, the cable went uptrend.

Today, if the price continue to stay above the PP, adx moving uptrend and price breaks the Friday's high then I might consider to long cable.

Of course, the stochastic and RSI must be in the uptrend also

let wait and see.

[yyc196 Yauw]

EUR and Swissy

Hi,

Due to the ADX is still on the high side above 35 level, I see that these two pairs might want not be ready to trend for the time being. More setup are needed to support the trend. E.g. Stochastic and ADX and breaking through the daily high (EUR) and daily low (CHF).

Wait for a better criteria before enter the trade.

Otherwise, if today is a choppy market then one might get "slapped" many times and lost monies.

[yyc196 Yauw]

Choppy Market

Hi,

As mentioned earlier, the market might be choppy.

EUR, this pair has gone up slightly but still choppy. In general, I still see EUR will be in the uptrend.

CHR, this pair is almost flat. But look at the ADX it has gone down for quite a bit and the stochastic has gone up quite steadily. Therefore, get ready to look for more tell tales sign.

As for CAD, this pair is hopless.

Though looking for trend market is important but learning how to identify choppy market can aviod a lot of bad trade.

[nicesurf]

That's a good and clear signal....

[yyc196 Yauw]

Chf

Hi,

I have put up two swissy chart:

1) Hourly

2) Weekly

For the one hour chart there is a possibility of trend today. This is because the daily hi and lo is so small and the ADX is below 35 level.

However, for the swissy to contnue go downtrend might be difficult as it has a very support support to encounter (look at the weekly chart). Swiissy is know to have formed a closing wedge for a long long time, so this become a strong support.

Need to be careful if you short the trade. Today, the criteria for enter trade shall be ADX move uptrend and breaks the daily hi or lo. The stochastic need to be coincide with the trend.

[yyc196 Yauw]

Cable

Hi,

I have attached the daily chart for cable below, currently the price movement is staying at fib 61.8% with a doji formed yesterday. This could be critical. because the price will either retrace at this point or continue to go up. . If there is a trend today then there shall be more clue on that.

[yyc196 Yauw]

Today Trade

Hi,

Today's trading is interesting, both GBP and EUR have went uptrend. As for CHF, it cannot go further down as mentioned earlier because of the strong support. However if it really does the closing wedge will break and astrong downtrend might follow.

Let wait till the week end for more tell tales sign. Personally I think it would be risky to take longer period position on this pair, scalping would be the best.

Good trading for the day.

[yyc196 Yauw]

Today's trade

Hi,

For today trade I shall be focusing mainly on the Cable, EUR and scalp a bit of CHF.

GBP - Since yesterday the price has move above the fib 61.8%. The ADX is now below 35 level. However, the Stochastic is still on it way form a trend. I will wait for more tell tales sign.

EUR - Stochastic is a bit too high to go further uptrend but the ADX is below 35. But the weekly uptrend is strong. Shall wait and see.

CHF - The trend is still very uncertain due to the reason I suspect yesterday. I will only sclp this pair for small profit.

CAD - The ADX has just gone down meaning that this pair is under price correction. Not worth trying for intraday I think.

AUD - Look like a strong continue uptrend. Loking for good opportunity to enter a good position.