19 Feb 2015

MAJORS UPDATE 19.02.2015

GBP/USD DAILY

The rate is now stalling at 1.5480 - old support/now resistance which also acts as an upper boundy of a rising wedge.

As long as rate is trading above 1.5300 and the bullish momentum on daily RSI persists I feel very bullish about the pair, however, for an upside conviction the rate needs to clear the whole resistance area above 1.5600 and with the lack of important risk event from UK it may be range bound between the level of interest at 1.5325 and 1.5480.


NZD/USD DAILY

The rate has made a pullback and is now stalling at former support which now acts as resistance.

A break below the gap support at 0.7430 is needed for confirmation that the downtrend is ready to resume.

Only a daily close above the falling trendline resistance and former support area at 0.7700 will invalidate my medium term and immediate bearish bias for the pair.


USD/CAD H4

With the sharp rebound lower from Oil, USD/CAD has rebounded higher from an important support at 1.2375.

A break above the previous high at 1.2700 is needed for confirmation that the generar uptrend has resumed.

Only a daily close below 1.2375 level and rising trendline support accompanied with an upside break from oil (needs to clear 53.50) will invalidate my bullish outlook for the pair.

6 comments :

  1. hi , may I know the time frame of the 2nd & 3rd chart of the GBPUSD. the 1st chart is the day chart which is similar to mine but I can't seems to fit my chart at my platform to yours 2nd & 3rd one.
    TKS
    James

    ReplyDelete
    Replies
    1. Dear James,

      They are daily and H4 chart acordingly, however, they are both from 19.02.15

      Delete
  2. Hi what is your expected risk reward in a setup?how many pairs are you watching? How many setup are there each as you trade only the higher time frame like day chart?

    ReplyDelete
  3. What is your expected risk reward in each setup?how many pairs do you is in your lists?how many setup per week do you have in term of the 4hr ,day, or weekly.
    Tks
    James

    ReplyDelete
    Replies
    1. Finally on a annual basis, overall how much risk do you take in order to make the reward, such as if you win $100k, how much did you actualy risk in term
      Of $.

      Delete
  4. My minimum risk reward is 1:1.5 as I am scaling out of my trades. This video should make it a bit clearer: https://www.youtube.com/watch?v=5bOyKwfTwN0

    I trade all the combinations of EUR, GBP, USD, JPY, AUD, NZD, and usually there are about 1-3 setup's per week.

    My max risk per any trade is 3% but to be able to make 100K anually you would need to have about 100K-200K invested.

    It really depends on how you manage your account, for example, to make 100% in a year you would really need to do only 6% a month if you are compounding, however, if you are withdrawing profit every month or so it'll take more than 6%

    ReplyDelete