AUDUSD Forecast and Trade setup - Thursday 29th Jan, 2015

AUDUSD Forecast and Trade setup - Thursday 29th Jan, 2015

For today - perhaps going against the trend gives a good trade idea. however, a much better trade idea for medium term / swing gives a better opportunity.

Weekly Chart

• Note weekly candle has not closed, so look at the candle prior
• A very convincing bearish candle closing breaking support zone
• Next support zone is around 150-200 pips away

Daily Chart

• Targets of 0.77 is on the cards,

• short term we should see a retrace towards the 0.815-0.82

Outlook Trade opportunity

On all time frames, Monthly, Weekly , Daily, H4 - its all bearish (ichimoku).  

Swing / Medium term trades -
I'll be looking at a opportunity to go short when prices retrace towards 0.815-0.82 , and have targets towards 0.77. ( 3:1 reward to risk)

For shorter term trades
Going against the trend today might be a good idea, as the risk in terms of pips is low, and a Potential Bullish Cypher pattern is drawn out, where currently price is flirting in the 78.6 fib level.

Risk Level - Low for swing, and high for short term idea

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD - Trade Examples of my Scalping during Asian Session

AUDUSD - Trade Examples of my Scalping during Asian Session

Thought I would post some of my trades I took.  Its been a long time since i posted trade examples.

Trades i took

#1 Trade - Short - Loss -5pips (0.02% loss as manually closed and was only risking 0.5% as it was counter from the surge)

• There was a massive surge after positive AUD economic data, however paused at the 0.80 acting as resistance.
• Took the trade short as there is a second attempt at the 0.80 and rejected.
• Unfortunately TP was not hit, missed by around 5 pips
• Trade manually closed as getting late and the time of day is where breakout usually happens

#2  Trade - Long - Win +19pips (1.5% gain) - manual close - however would of hit TP if not

• Trend of the day was up and price action was bullish as it breached the triangle to the upside.
• Time of day - Pre European sessions where usually breakouts happen
• Trade was manually closed - however would of hit TP if not.

XAUUSD GOLD Forecast and Trade setup for 20th January, 2015

XAUUSD GOLD Forecast and Trade setup for 20th January, 2015

Potential Bearish Cypher pattern completing at 1290-1300 resistance level

Daily Chart

For gold, My targets of 1290 have been achieved from my analysis from earlier this year. So right now we are seeing a small rejection from the 61.8 fib and 127.2 inverted fib. The 78.6 fib for Cypher to complete is at 1298 to be exact so we may see failing rally to attempt to break the 1300 levels.

• Cypher pattern completing at the 1298 (78.6 fib)
• Bearish Trendline also at that zone
• Monthly and Weekly Charts are in Bearish Ichimoku Technicals
• 1300 round number acting as good resistance
• Could be risky selling into it, because of a very strong bullish run

Outlook Trade opportunity

So this is how I would trade - Since its been in a very strong bullish run, I shall be looking for another rally towards the 1298-1300 which i predict could possibly be a failed rally. I'll look for Rejection Price action candles on a H4, and once confirm would enter a short, with stops above the failed rally .

I would classify this trade to be a higher risk due to the bullish run, and also where the zone is located where the risk :reward won't be stacking up in our favour

Risk Level High

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Forecast and trade setup / update for 15th January, 2015

AUDUSD Forecast and trade setup / update for 15th January, 2015

Following last Friday's analysis on the AUDUSD, it has played in my favour, and here is an update of how its travelling so far

Daily Chart

• Hammer candle pattern from yesterdays daily close

Hourly Chart

• After the first inditial Cloud break identified last friday, yesterday the market tried to break the lows and failed.
• The 78.6 fib and cloud acting as strong support giving a h4 bullish engulfing pattern.
• Earlier today in asia, after the numbers from Australia employment figures, market has jumped 60pips on the first 15min candle and closed at the highs.  

Outlook Trade opportunity

long for intraday / short term trades, - near term resistance are the highs at 0.825. however my technical tells me it will break those highs and test 0.832-0.835 .

This is my second long trade for the week for this pair as a intraweek swing

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

XAUUSD GOLD Forecast and Trade Idea for January 2015

XAUUSD GOLD Forecast and Trade Idea for January 2015

Sorry using charts from Trading view without my support levels

Monthly Chart

• Ichimoku Break on the Monthly is a strong indication that further weaknesses is expected in the long term view

Weekly Chart

• Weekly is showing some exhaustion in selling, as buyers a coming back in
• Any closes above the 1200, is a good indication that buyers are in control and I shall be targeting around the 1280-90 as the potential area where sellers will jump back in for new lows

Daily Chart

• We identified the Ichimoku break on the daily chart, so we may see a correction

Outlook Trade opportunity

At these levels, and because of the Daily buy signal, for short to medium term trade, I would suggest taking Longs with targets around initially 1250 then on towards 1280-90.

Would short at 1280-90 if it gets there targetting near lows and possibly continued further losses onto new lows

Risk Level __

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Forecast and Trade Idea for January 2015 -

AUDUSD Forecast and Trade Idea for January 2015 -

Trading currently in a very important support zone - and if it holds, Its very good for a counter trend trade because something which is NOT on the Aussie chart... .. read on

Monthly Chart

• As you can see the Ichimoku Clouds have been broken on the Monthly, which usually is a good indication of the long term view of the continued weakness of the Aussie Dollar.
• However even though it broke the clouds, we must not ignore the most simple fact of charting as we see a very important Support zone (above 0.79), so until it breaks and close with conviction , then we can seek opportunity to trade with the trend towards lower levels as a long term trade

Weekly Chart

• Take note of the break BELOW of the Lower descending Channel line, which is extremely bearish, but again, only break of the 0.79 handle could we see further losses.

Daily Chart

• Zoomed in the daily with the support zone
• Not surprisingly there are buyers in here which does give the RSI some positive divergence

Outlook Trade opportunity

Given the fact that we are at a very major level here on all time frames, its a good area to get in long for a counter. However, what i said as the opener of this analysis, there is a hint which i got NOT from the Aussie CHart, but from the GOLD chart.

Gold chart - Daily TF - we have a classic Ichimoku trend reversal trade which usually is correlated with the Aussie. So therefore i do believe a Long trade for the short - medium term is playable!

Risk Level - Medium to High

Tips -

Always take note of any economical news event on our provided calender below