These are my two trades

Written by Raul Lopez on . Posted in Trades & Analysis. 4 Comments

Yesterday I opened my AUDJPY trade, I really like this one because of its risk reward ratio, I’m risking 43 pips and I’m trying to get 405 pips… good ha? Make your math, what would you get if you risk 1% of your account in this trade?

Anyway, I’d really feel more comfortable once the AUDJPY breaks the ST resistance level shown below:

And I have another one in the USDCAD. It’s been painfully slow, but moving in the intended direction, so I guess it is alright:

Now, I’m going to be careful with this one, because tomorrow we got the CAD unemployment report, and as you already know, the CAD is one of the currencies that react the most to its fundamental announcements.

So it will have to move on my favor so that I can hold it during the announcement. We’ll see what happens.

What is your take on my trades?

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .
  • Tonyosita

    The Aussie lately has been on the downside and the chart is depicting resistance which I want to believe to be on reversal which is still not certain for a breakout.  Moreso the size of your pips is also on the high side which going by the current volatilty with aussie will not be able to trigger it in one or two cycles.  The risk reward ratio translates to 1:9 which I also consider to be on the high side.  I have my doubts on the aussie the way it is running at moment.
    On the other pair(USDCAD) the fundamentals are quite strong and they are most likely to be realised even without the announcement.  But please also advise me on the sites I can always get this announcements almost immediately as they are being released to enable me trade on them.
    My warm regards.

    Orah Tony O

    • Raul Lopez

      Thanks you for your input Tony…

      I dont know if we are looking at the same charts, one my charts, all aussie crosses are trending up……….

      And regarding the USDCAD, I dont base my trades on fundamentals… pure technical analysis (it rocks) :D

      Cheers,

  • thanks for your aud/jpy signal..i gained a few pips….what is your opinion about usd/cad…will it drop downwards?

    • Raul Lopez

      Hey Haridass, I think so… I shorted it at 0.9958 (lower yellow line), the one at the top is my SL at 0.9998, just below the parity!

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