AUDUSD bounced back from 200 MA

AUDUSD pair in the daily timeframe. The price is now in an uptrend. If we draw a fib by last swing high and last swing low then the price is just resuming its uptrend from 61.8% fib level after the retracement.

This fib level coincides with 200 MA. This is a nice confluence of price action and indicator. I've entered the trade and now I have 50 pips profit. I've put my TP at the monthly pivot level. I believe price will reach the pivot level soon.

AUDCAD in Bullish mode

AUDCAD pair in the daily timeframe. Both the 50 MA and 6 MA is directing upwards.

MACD histogram is also upward direction. It was a buy on the day before yesterday. Even then I've entered the trade with an expectation of 1:1 risk to reward ratio.

Let's see where it takes me...

I've entered the trade with the price being above the two MAs mentioned above. Let's see the price action with another setup.

Here price just crossed above the 200 MA and at the same time price is above the monthly pivot point. One point of this set up is still invalid. And that is, 20 MA is still below the 200 MA.

I've entered the trade with the first setup being fulfilled with a delay in entry. Entry level was 0.99023 with a stop loss at 0.9818.

180+ pips in USDJPY pair

USDJPY pair in the daily timeframe. The price was under the 200 MA. So the trade I was looking for the short trade only. After moving down below to the 20 MA the price retraced back to 20 MA.

From the 20 MA price created a large bear candle. I didn't enter with that large candle. I waited for another two candle to enter. I've got out of this trade automatically today with 180+ pips.

I'm now demo trading and I'm active in three demo pairs on three different machines. I've also entered into this pair in another account where I now have 110+pips there. I've kept that trade open till now. Let's see where I can go?

Update of GBPUSD- probable long entry

GBPUSD pair in the daily timeframe. As I said in my earlier post, the price is likely to bounce back from 61.8% fib level.

Now the price is creating bullish engulfing price action and at the same time crossing above 20 MA from below. If the price can close above 20 MA, I'm going to enter into this trade.

But the negative point is that on the higher timeframe, the price is approaching towards 200 MA from below which will be a dynamic resistance line for the pair. It has also completed the round bottom pattern in that timeframe. So the trade might be a little bit risky. Even then, I want to take the trade.

Update on 15th February 00:00 hours (+6.00 GMT). Price could not close above the 20 MA as I mentioned above.

Price is above the 20 & 200 MA and it is approaching towards the monthly pivot. If it can cross the pivot point and close above it, then I'll go for long.

Long trade in GBPAUD

GBPAUD in the daily timeframe. Price is in an uptrend. I entered into this trade on 22nd January 2018 after the price crossing 20 MA line and at the same time being above the 200 MA.

I'm almost in 300+ profit. I've set a target for the trade to get out of the trade if I can't follow it. If I can follow the trade in time and if I find that it can move further then I might let the trade go further. Let's see what happens.

Happy trading.

Update: 8th February 2018

480+ pips profit taken by TP hit.

8th February 2018- EURUSD USDCHF GBPUSD

EURUSD in the daily timeframe. Price is in an uptrend and crossed the 200 MA on the 24th April 2017.

Before moving upward, price tried once four weeks back and failed. Then after crossing the 200 MA, then it retested the MA again on the 11th May 2017.

Since then it's in an uptrend. Price is now retracing price is at 50% fib level if we draw this considering the latest swing low as one point. If we use the lowest low of this full swing then the price has another two levels at around 1.2086 and 1.1892 where price may get support for continuing it's prevailing trend.

Waiting for the trade to come.

USDCHF in the daily time frame. Price is in the downtrend and on the 11th January 2018 price again crossed below the 200 MA.

Price is now retracing back towards the 20 MA line and 38.2% fib level where both these parameter confluences.

With a sign of a resumption of the trend, I'll enter into this trade.

GBPUSD pair in the daily timeframe. Price is in an uptrend. Price is now retracing back a little.

The price just crossed below the 20 MA and which is near 61.8% fib level if we draw the fib connecting the latest two swing high and low.

This nice confluence above the 200 MA on the background of an uptrend, the price is likely to turn around and resume its trend. I'm waiting to catch the move.

Happy Trading.

Update on 15th February 2018:
I've entered EURUSD and USDCHF pair. I'll put a full update on the closing of my trade. Till then, bye.

Today's watch list- AUDUSD USDCAD USDJPY NZDJPY

 AUDUSD in the daily time frame. Price is now uptrend and it really crossed above the 200 MA on the 21st December 2017.

So now it's time for buy opportunity only. But Price is in an uptrend since April 2016 in the longer timeframe.

After the last upward swing, the price is in retracement and it's bouncing back from 38.2% fib level.

Price is now forming a piercing line pattern. If this candle can cross above the 20 MA today then it will be a buy signal and I'm going to enter into this trade right away.

USDCAD in the daily timeframe. Here the price crossed below 200 MA on the 12th June 2017.

Price again retraced back towards 200 MA but didn't cross above rather bounced back down on the 20th December 2017. Price is in a downtrend since April 2016 in the longer timeframe.

Now price is creating lower low and lower high. At this moment price went back above the 20 MA during its retracement. In this process, the price is creating dark cloud cover pattern price action. If it completes the pattern, I'll go for short here. Let's see what happens.

USDJPY in the daily timeframe. Price crossed below the 200 MA on the 10th January 2018. Price is here also creating lower highs and lower lows.

Price is bouncing back from 20 MA after retracing back to the MA. Price is also creating a dark cloud cover pattern price action. Price has almost completed the pattern, but I'll have to wait till the candle closes. So with the completion of the pattern, I would like to enter into this trade.

Negative points: Price is in sideways move in the longer timeframe.

NZDJPY in the daily timeframe. Price crossed above the 200 MA line 20th December 2017. While crossing above the 200 MA line, price broke the earlier downtrend.

After crossing the 200 MA, it retraced back to 200 MA and bounced back. Now it is becoming clearer that price is failing to create new higher high and higher low. But still, I'm going to follow this pair as long as it's above the 200 MA.

300+ Pips collected from EURAUD

EURAUD in the daily timeframe. Price of this pair crossed above the 200 MA line from below on last week of April 2017. Since then it is on a slow uptrend.

I've entered after it crossing 20 MA line. I haven't entered immediately after the closing of the candle as it was on the last day of the trading week. I entered on the following day after the holidays.

I've reached my target in 3 weeks time. It was 320+ pips profit.

CADJPY - heading toward a triple top

CADJPY in daily timeframe. Price is creating higher lows but failed to create a corresponding higher high in its last push upwards.

Price failed to cross the resistance level at 91.61 level. But the price is still above the 200 MA and the current candle is crossing above the 20 MA.

I'm planning for a buy at the close of the current candle above the 20 MA. I think for this I'll have to wait till next week.

Happy Trading.

AUDUSD- correction in daily timeframe

AUDUSD in Daily timeframe. Price moved above the 200 MA and it is also above the 20 MA.

Price is now retracing back to 20 MA. I'm waiting for a buy after bouncing back from the 20 MA.

I'm going to go to buy at price 0.8140. Waiting for the entry point.