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AUD/USD looking for a 70+ pip pullback...AUD/USD has really been playing ball in terms of basic technical analysis. WE hav e been following a strong bullish sentiment all the way up to 0.7500. This level we're at is a major Fibonacci extension target and there are many confluences now suggesting a pullback for at least 70 pips. We are now looking for a potential drop into 0.7420 over the next few trading days. If we do get a small drop on this pair it is likely to be a strong sharp movement given the manipulation levels visible on the higher timeframes. Like always do your own research and I hope everyone has had a great week in the markets.
Short
by FTUKcom
GBP/AUD falling with strong downside momentum...The last time we broke down GBP/AUD was when it was trending north on the daily. Since then we have taken a huge plummet driving the trends down and prices back below 1.8000. 1.7500 looks like a comfortable 100+ pip landing spot with more potential for heavy downside movements. As of right now there is very little upside opportunity and we would advise traders not to try and pick a bottom. We will provide an update over the coming weeks to see how this pair plays out.
Short
by FTUKcom
Well That Went Well...Good day mates! So in this small segment I would like to highlight this swing trade I called on USDCAD. First things first, I was NOT as patient of a trader back then as I am now, seriously! I would see a move and think "ahh man I gotta hop on this" but would be in such a haste that I would market enter and get wrecked or so scared I wouldn't even take the trade. Luckily I was able to get a lil boost of confidence from my good friend @palmer519 and, not only take the trade, but to call out my first winning signal. I was struggling between scalping and swinging so much that 80-90% of my trades would get blown out or wouldn't even be executed. "Alright Big P we get it, you were scared to trade and now you're not. Why do you swing trade??" I'm glad you asked. This ultimately allowed me to not have to be on the charts allllllllllll dayyyyyyyy! I developed my skill (still developing) on swing trading by doing these 3 things: 1. ONLY taking disciplined trades *meaning I wouldn't go against my trading plan for no reason at all* 2. TRUSTING my analysis *if I'm open for the jumper, I'm shooting* 3. ACCEPTING the outcome *I know I won't win every trade but if I'm winning enough then we got something going* So in conclusion gang, patience pays and confidence slays lol. I know most of us may encounter days when we are not confident in ourselves but remember these few things: You will lose, its a part of the game & don't ever rush into making a move because your patience is what will determine your outcome, or in this case, ya income ;) Happy trading family <3 *DISCLAIMER* : I AM NOT A FINANCIAL ADVISOR NOR AM I AN INVESTMENT MANAGER SO DON'T THINK IM TELLING YOU WHEN TO BUY OR SELL, BECAUSE IM NOT. IM SIMPLY POSTING MY ANALYSIS AND GIVING YOU INSIGHT ON MY TRADE IDEAS. FOR MORE INFO PLEASE REFER TO THE LINK IN MY BIO!
Long
by BigPippn
1
EUR/USD stabilising on the 1.1300 base... EUR/USD seems to be stabilising the newly formed base at 1.1300. A recent weekly candle from 2 weeks ago, formed extremely bullish in alingment with the recent fundamentals suggesting that there will be a medium term upswing in movement. Generally speaking a closure above the 1.1400 handle should signify a comfortable 100 pips into the 1.1500 region and beyond, and looking at the recent weekly chart, there are many confluences to suggest more upside action to come. Tomorrows trading news look relatively choppy concerning the dollar and should expect a fair bit of movement in the London session. Overall bias at current market price is bullish. We will update this pair over the coming days to see if there is a potential spot for opportunity around 1.1400.
Long
by FTUKcom
Sterling strength looking likely...Pound has picked up some strength off the back of the GDP growth rate this morning. Referring back the the current state of the USD on a fundamental level, it provides a nice confluence to look for long opportunities on the weekly, daily and 4-hour timeframes on GBP/USD. The 1.3700 handle just over 100 pips north of the current market price could provide a nice landing spot for the pair with some great risk:reward spots lining up. Overall we can see this bullish mood continuing into the next trading week.
Long
by FTUKcom