These are a few of the currency pairs I’m currently trading

Written by Raul Lopez on . Posted in Trades & Analysis. 14 Comments

Forex Market

Hey, how is your trading going?

It’s been kind of difficult to trade the majors in the last few weeks hasn’t it?

Luckily for us, we have plenty of instruments (crosses) to choose from, and some of them have been trading in a ver clear market condition.

And believe me, the most important aspect of trading, even before the entry system, is whether or not you are trading the “right” currency pair.

What do I mean by the “right” currency pair.

Look, you could have perfect timing, but if you chose the wrong currency pair, the market will move against you.

You know what I mean?

This is why I always suggest you to spend at least 10-15 minutes analyzing your charts before taking your first trade.

Makes sense?

Anyway… here are two crosses I’m currently trading:

AUDCAD Analysis

Take a look at this chart:

AUDCAD Analysis

In the chart above, its clear that the AUDCAD is likely to continue its way down, so why not trying to short it?

This is exactly what I meant earlier, this is a clear chart, this is the type of chart that you should be looking to trade (not the EURUSD or others that have a very difficult market condition).

What do you think about the AUDCAD?

GBPAUD Analysis

Here is another one:

GBPAUD Analysis

In this chart, same thing, it is clear that the GBPAUD was rejected from the bottom of the range, it has clear S&R levels, so why not trading this one?

Its clear to me… What about you?

One favor…

If you have a spare minute, please write me an email to: info@straightforex.com and tell me what kind of content you would like to see on my blog:

  • Articles
  • Analysis
  • or what other type of content?

This blog is for you, and I want to make sure you get the content you are looking for. It’l be good for both of us, you’ll get the content that you need/want, and I’ll spend more time on the stuff that is important. Deal?

I’ll really appreciate it.

Thank you very much!

Tags: ,

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 .
  • richard

    Hi Raul
    thank you for the two trade options. Both show a clear channel based upon resistance and support formed by prior price action. The only question I have is a possible rebound by the AUD due to good job data and china growth figures have held up – the AUD is really sensitive to China fundamentals Plus it has been volatile to my inexperienced eye . But price rules supreme.

    I am relieved that you have found the last 2 weeks tough. EUR and AUD seemed volatile to me and JPY pairs have stalled! Sideways price action seems to have prevailed.

    • Raul Lopez

      Hey Richart, you have very good points here…

      However, I’ve decided since the beginning of the year, that I’m not going to pay too much attention to the fundamentals… We get good data and the market moves up, we get bad numbers and the market moves up, we get neutral data and again, the market moves up…

      I think its all about the sentiment of the market, if its bullish, it will take any fundamental as an excuse to continue its way up… this is the way I’ve seen the market behaving in the last few years…

      What are your thoughts about this?

      Thanks for your comment!

      • Sir, you this decision taken in this year made me away from the fundamentals ! and yes you are exactly right, markets find excuses to move either way !

  • Tunde

    Okay, thanks for your comment, in consideration; as you know im still checking what works for me. Only a matter of time, hoping that AUD/CAD forms a beautiful set up soon, cos its lying around the value zone. Okay, so what else are u looking at?

    • Raul Lopez

      Hey Tunde… AUDCAD looks good…

      Most AUD crosses are tradable, also some JPY crosses have a very good profit potential.

      The only one I like from the majors is the AUDUSD, the rest of them… not tradable.

  • Tunde

    Hey Raul, long time; I agree with the analysis, i didn’t actually think that way till you brought it up. That’s the beauty in trading. I completely go with the AUD/CAD. But at the current level on the GBP/AUD, I either wait for a break out and then trade the valid retracement, (Like you suggested). Looking at things the other way, if price dances a little bit of disco on the 1.51982 level, plus another reversal signal, Im going sell. The level is about a 50% fib retracement of the entire bigger move. Just my thought, Over to you!

    • Raul Lopez

      Hey Tunde, nice to have you back!

      Thanks for your comments and suggestions. I feel comfortable with both of them, but as you already know… the market has the last word… So we’ll see what happens…

      What other pairs are you monitoring?

      Cheers

      • Tunde

        Of course Raul, we can never predict the market direction. For tonight, i’m looking at EUR/CHF ,as long as the pin bar remains valid; this gives a confirmation to the pin bar earlier formed on the 4hr candle, also taking into cognizance the lower highs formed on the daily chart. Just thinking of how to manage my entry.

        Secondly, CAD/CHF the 2bar reversal at a logical level and directly in line with my bearish trend line. Please see attachment of CAD/CHF below. Im looking at entry at the low of the 2nd bar, given that market traded within a range for the past 2 days, I’d be happy to hear your opinion Raul.

        • Raul Lopez

          Hey Tunde,

          About the CADCHF, I’d wait a little longer. I think it is likely to trade in a range, and if it forms a clear range, I’d wait for a breakout of the bottom of the range to start looking for short opportunities…

          And the same goes for the EURCHF… I’d like to see a range, then a breakout before trading any of them…

          What do you think?

  • Mr. Lopez, being frank I have observed a charisma in your analysis part and what i like the most reading your blogs ! please dont let your readers wait too much for your blogs ! I like to stay connected with your words !! I feel lucky to read your blogs !

    • Raul Lopez

      Hehe Ok Himanshu… I’ll let you all know when I go out on vacations!

      Thanks for your comments!

      • sorry Mr. Lopez , I did not know you are on vacations ! hope you have enjoyed ! i love your blogs

  • sir, we miss your post so much ! you come late but with something best thing , through which we get abundant knowledge on a particular concept and enhanced trading skills !!

    For me Mr. Lopez, I would like to see the analysis which are more different , like now we know a range is neccessary aspect you commonly consider ! but i would like to read the analysis comprising of more advanced level !!

    Hope you will consider my words. Thanks !

    • Raul Lopez

      I’ll get to it Himanshu! Thanks again for your feedback!

ProTradingNow

Free Education

Other

Contact

info@protradingnow.com