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Jue 12th (+109 pips)

6/12/2017

0 Comments

 

Trade 3 Long AUDUSD (-5 pips)

Picture
The daily and weekly charts for the Aussie remain bullish, a long consolidation pattern that we have traded many times appears to becoming to an end.  I are forecasting lower still for the dollar index when the current short term bounce concludes. The chart shows the proposed path of the Aussie as it moves higher.
Last week the Australian economy recorded some good results with better than expected GDP figures showing a 0.3% increase.  China released better than expected export and import figures adding more positive impetus.
The hourly chart is not quite perfect, the break of the purple trendline was very bullish (and was the trigger for the trade) but the pullback was not as long as expected.  I had forecast a minimum pullback of 0.7513 and hence have given this trade a larger than normal stop loss in case the trendline break is a fakeout and the pullback continues lower.  Position size has been adjusted downward to allow for this
Picture

Trade 2 Short GBPAUD (+58pips)

This trade is very similar to trade 1 but takes advantage of the fat that the Aussie is approaching a break higher against the dollar and had a very good economic week.
Picture

Trade 1 Short GBPUSD (+56 pips)

The political risk to the pound just keeps getting worse i wrote about it on the economic blog.  Whenever a good technical position arrives it is a good idea to sell the pound.  It is however very volatile and can snap back easily so i will take proft at the first sign of trouble.
Picture
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    Steve Tobin
    Husband, Father
    Maths Teacher, Trader

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  • Home
  • How it works
    • How to Make 100k with Forex
    • Plummer Wave Trading
    • Economic Surprise Index Methodology
    • Mathematical FX model
    • The Complete Plan
    • Invest
    • What is Social Trading?
    • FXTM
  • Info
    • The Trading Plan >
      • Trade Targets
      • Waves
      • What is a Plummer Wave?
      • Wave Trading
      • Forecasting the Market
      • Weekly Waves >
        • Cycles and the Indices
    • Education >
      • Positon Size and Risk
      • Beginners Corner >
        • New To Forex
        • How To Start Trading with $50
      • Top 10 Forex Websites
      • Economics >
        • Economic Surprise >
          • Economic surprise July
        • What drives Prices ?
      • Trading Needs
      • Points of Interest >
        • Facebook Wave analysis
        • Forecasting EURGBP
        • NZDUSD Long Forex Trade?
        • Gold A Technical Study
        • USDJPY Forecasts
    • Predictions Archive >
      • Forex Predictions May 2017
      • Free Forex Signals May
      • 24th April
      • US Stocks
      • USD Crosses Forex Prediction
      • European Stocks
      • Euro Crosses
      • ANZAC currencies
      • GBP Crosses
      • Asian Stocks
    • Members Area >
      • Trade History >
        • Journal Charts 2018
        • Journal Charts
    • Risk Disclosure
    • Project $100K >
      • Project 100k Archive >
        • Project 100K part 2
        • Project 100k Attempt 1 Review
        • Trade 1 Project 100k
        • Trade 2 Project 100k
        • Trade 3 Project 100K
        • Trade 4 project 100k
        • Trade 5 Project $100k
  • Trade Ideas
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    • economic blog
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