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Technicals

Expecting Sell Setup | Double Top FormationPolitically : It Trump won the election, it doesn't mean that USD rises too much. Still it is not clear if Trump is going to succeed what he says or not. Other countries such as Mexico and China will have response to Trump. I expect this pair to consolidate even if it is going to go higher. Technically : the pair has completed five waves and should consolidate Fundamentally : Japan's economy is strengthening like USA as well. Japan's export was recorded higher Note : I don't know about politics. I wrote what I was thinking
by UnknownUnicorn372507
Short (NZD/USD) at 83.10.I am short at 83.10 with a stop at 83.25. I sold last Friday after a failure at the 83.20 level. My first target to B/E is ~80. Here is my framework on how I think through a trade. Is this trade worth taking? * Where is the R/R right now? Is it obvious? * Is the market trending or ranging in the time frame you are watching? * Is price currently at a level that is obvious to all market participants? Remember, it is their orders that will push your trade to profit or loss. What are other traders seeing? * What is the price action? Is it obvious? * What would you regret more, passing on the trade and watching it go for 100's of pips without you, or losing a small % of your account? * In my experience, mistakes of omission are far more painful than mistakes of commission. After thinking through these questions, is this a trade you would like execute? " With intelligent estimations, we can work to get the rough order of magnitude right, understand the consequences if we’re wrong, and always be sure to never fool ourselves after the fact. " Questions, comments? please leave below. Have a good day.
Short
by CalebDismuke
83.35-Major pivot level (NZD/JPY)I am counting 10 straight positive weeks for this pair. Momentum is powerful, so more upside could be in store, but the R/R favors a short position from these levels IMO. My target is noted on the chart(green arrow). That is an aggressive target, however, I have found the big money is in the big swings, so I am willing to wait. I will update this chart if I take a short position. Please leave any comments below. I would like your thoughts.
by CalebDismuke
Short GBP/JPY, looking for lower pricesShort and looking for lower prices Price found sellers at a previous low print on 6/16 around 145.40. I sold with as stop above today's high. My first target is the green arrow at 142.20. If and when it gets there I will decide what to do next. Markets rarely go one way for an extended period of time. This cross has been straight up since 11/9 with one minor dip. That does not mean it will not go higher, but we as traders are looking for the best R/R. With this pair, I believe the short side is the better bet at these levels. Would love to hear your thoughts in the comments. Happy trading. Last week's results. 2 trades, 1 winner, 1 loser, for a net gain of +46 pips. Not a great week, but still to positive, I'll take it.
Short
by CalebDismuke
Sold USD/CHF, looking for parityTechnically Speaking You can't see it on the chart but the 2 level has been a good level to sell against in the past. I sold at 1.0170, stop at 1.0215. Initial target is 1.0000. Here is my checklist I go through before taking a trade. Is this trade worth taking? * Where is the R/R right now? Is it obvious? * Is the market trending or ranging in the time frame you are watching? * Is price currently at a level that is obvious to all market participants? Remember, it is their orders that will push your trade to profit or loss. What are other traders seeing? * What is the price action? Is it obvious? * What would you regret more, passing on the trade and watching it go for 100's of pips without you, or losing a small % of your account? In my experience, mistakes of omission are far more painful than mistakes of commission. After thinking through these questions, is this a trade you would like execute?
Short
by CalebDismuke