Tag Archives: structure_retest

AUDUSD Bigger Bull Idea (50/200 SMA, Structure)

AUDUSD Bigger Bull Idea (50/200 SMA, Structure)

2015-10-13_AUDUSD Long Term
2015-10-13_AUDUSD Long Term

Better place for Long entry is at 1H chart:

2015-10-13_audusd better long trade entry zone
2015-10-13_audusd better long trade entry zone

Reasons For Trade:

1. 10sma is crossing 50sma in the yellow region. The price might test this zone to give us a bullish entry.
2. 200 sma is far up above. Once the price crosses the latest structure high at 0.7378, the next target will be retest of 127.2 fib level/200sma.
2. Daily and weekly chart are not showing any signs of oversold or overbought.

Stop Placement:

  1. Below 10sma-50sma crossover

Targets:

  1. First Target at: 1:1 R/R
  2. Second Target at 127.2 Fib extension of most recent high
  3. Third Target around 200sma

Trade Execution:

  1. Wait for a confirmation inside the zone to take an entry as this is a wide zone.
  2. As soon as target 1 is hit, close 50% of the position and move the stops to break even i.e. 0.7238
  3. Ride to second target and close 50% of the remaining position and move stops to 0.7330
  4. Re analyse the market to see if more profit can be made with 200sma as target and stops at 0.7428

Concerns:

  1. The price may never come to our zone to give us an entry.
  2. Trade Management will be complicated

Planned News Expected: (UK Time)

TueOct 13  1:30am AUD NAB Business Confidence
WedOct 14 1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

USDJPY Sma, Structure & Fibonacci Idea

USDJPY Sma, Structure &Fibonacci Idea

USDJPY Sma, Structure & Fibonacci Idea
USDJPY Sma, Structure & Fibonacci Idea

A. Reasons For Long Trade:

1. Price has gone oversold and is showing bullish divergence on RSI
2.  It may try to retest the point where 50sma crossed 200sma.

Stop Placement:

  1. Area below the immediate low

Targets:

  1. region between 200sma and 50sma on 1H chart. Just below the opening of the candle.

Trade Execution :

  1. Only one position for long

Concerns:

  1. None

B. Reasons For Short Trade:

1. Once the price has tested sma crossover, it may start falling down to retest lower levels. Price has  moved below sma indicating bearish flow.

Stop Placement:

  1. Area above the major structure high

Targets:

  1. First target will be 50% retracement of previous upwards impulse leg. There is a huge spike there at 119.630
  2. Second target will be at Fibonacci confluence of 1.618 extension and 0.786 Fibonacci retracement. This is because once target 1 is met and price keeps on moving downwards, there is not much structure on the way downwards.

Trade Execution :

  1. Wait for short signal in the zone above 120.078

Concerns:

  1. None

Planned News Expected: (UK Time)

WedOct 14
1:30pm
USD
Core Retail Sales m/m

USD
PPI m/m

USD
Retail Sales m/m

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------