This is another forex trading signal brought to you by yours truly. In this chart, it could be a possible top so I entered the trade. Keep your stop losses tight. There is still a chance that the trend up may extend. But its even a greater reward for us if this really is already a top.
The recent forex trade I posted last week were right 2 out of 3. The GBPJPY took more time before it reverses and gave us a small loss but the NZDUSD and EURAUD proved to be profitable.
As the end of the year is nearing, the activity on the market is declining. Because of that, we should only take trades that are high probability to avoid any losses. I might be able to post lesser this time as I see less opportunities. And the past week has also been an experiment as well.
I wanted to help people especially newbies on how to trade forex. So I post my trade and as if you’re looking above my shoulder. Having said that, I wanted to ask you, dear readers about what you think.
Did you like me posting signals? What could I have done better to letting you know when to get into a trade? Did you took my signals and made profit / loss?
We have another good opportunity to trade forex in EURAUD. The resistance is at 1.2145. Its a good opportunity to get a position on the long side. There’s also news that EUR will receive an aid. So news and technical are complimenting each other. Keep stop loss at 1.2145 just in case.
Stoploss got hit for EURJPY. I was expecting it to go down but it instead continued to go up. Lost -20 pips in the process. But the AUDCAD trade went great. +538.1 pips! My account grew 100.81%. I doubled my money with AUDCAD. I closed this trade right before the market closed.
The cloud is the colored spaces in green and yellow you see on the chart. It is part of the ichimoku indicator. That when it is green, it is bullish and when it is yellow, its bearish. Hence, I am going to short this pair.
This is probably my first forex signal & analysis. I usually post a screenshot after I made a trade. That is because I don’t want people to follow me on wrong trades. But this time, I’m posting this before I enter because I think this has a high probability that could turn into a profitable trade.
I’m going to short this pair. Keep the stop loss small to protect ourselves from sudden continuation of the trend.