Posts Tagged ‘trading idea’

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AUD/NZD Weekly Elliott Wave Analysis

May 21, 2012

When you look at the weekly chart of AUD/NZD you can see that since August 2008 till now it perfectly formed uptrend Elliott Wave movement. It also formed Symmetrical Triangle. This can give us the signal that the price more likely will break the resistance levels at 1.3050 and 1.3270 and will target the strong resistance at 1.3720. So we recommend you to open long positions if it breaks the resistance at 1.3050. You decide where to put your stop loss!

Good luck!

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USD/CHF tests the resistance at 0.9268

May 8, 2012

http://newonforex.com/

Yesterday people traded USD/CHF in the range 0.9190-0.9250, however they showed bullish sentiment. Today it more likely will test the strong resistance level at 0.9268 and if  it doesn’t go through will find support at 0.9145 with the 50 period EMA. However if it breaks the resistance it more likely will continue in uptrend until the next resistance at 0.9335. Look for reversing/breaking bars/candles at the 30min -1 hour charts they should be the signals.

Trading idea: Look at the hourly chart(be careful on lower period the signal will be weaker) and if the price breaks the resistance at 0.9268 open long position 10 pips above the maximum of the breaking bar. Put your stop loss 10 pips below the minimum of the breaking(signal) bar and take profit 10 pips below the next resistance 0.9325. When you make 20-30 pips profit close part of the position in order to compensate eventual trend change. Beware of a bull trap! Good luck!

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Good luck!

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Gold is going down?

May 7, 2012

http://newonforex.com/

Yesterday people traded Gold in the range 1630-1640 and it seems going down. However it almost reached the significant support at 1623.53 and there it is very possible to start uptrend movement until the 50 period EMA at 1662 . IF it beats the support line at 1623.53 it seems that it will strongly go down(Be careful for a bull trap). We expect similar situation if it goes to the 50 period EMA. Look for reversing/breaking bars/candles at the 1-4 hours charts they should be the signals.

Trading Idea: Look at the hourly chart(be careful on lower period the signal will be weaker) and if the price breaks the support at 1.623.53 sell 50 pips below the breaking bar’s minimum. Of course insure your capital with a stop loss 50 pips above the breaking bar’s maximum.