Tag: GBPAUD

How is everything Traders? How did you do last week with the Non-farm payrolls report?

It’s interesting how the sentiment of the market can change in a few seconds… Specially in pairs that had a well stablished market condition… such as the USDCAD and the AUDUSD.

Anyway… Whats your take on Brexit?

There’s been a lot of talking about it, whether its going to make the GBP go up or down, etc.

Let me tell you something Trader! it doesn’t really matter… Why you may ask…

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Another signal in the GBPAUD

Forex Market

Hey Traders, how was your weekend?

As many of you already know, it was my birthday last Friday… I received a ton of emails and I really appreciate it traders…

And I want to thank you all for that!

Back to trading my friends…

You know what trading is all about right?

What’s it all about?

Its about trading the right instruments at the right time! As I said before, that’s what some traders call “luck”.

Fortunately for us there is a way of finding those traders over and over…

Now, that doesn’t mean that we are going to win all trades, its just about trading with the odds on your favor… if we keep doing the same thing over and over, at the end, we’ll get consistent results.

Ok, now lets take a look at some charts.

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Forex Market Analysis

Hey traders, How was your weekend? hope you enjoyed it… did you do something different? Or just relaxed for a few days?

I took some time to relax, because next weekend I’m going to need some spare energy…

Anyway, how was yours?

As every monday, I like to see what are the most important fundamentals of the week… But you know, this week we don’t have a lot of fundamental releases…

Which is good and bad at the same time.

Its bad because sometimes we need this type of volatility to get the market moving faster…

But its good because it will move entirely based on the sentiment of the market.

Regardless of the fundamentals… What we need to do every single day (which is by the way the most important aspect of trading) is to focus in the currency pairs that have both:

  • The clearest market conditions
  • And the most profit potential

Focus on those two things day in day out, and you’ll be on your way to consistent results.

By the way, here is one of the currency pairs that I feel most comfortable trading with.

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euro

Hey trader, hope everything is going well!!!

How is your trading going so far this week?

By the way, did you take the GBPAUD signal that I sent you on Tuesday?

I’ve been following the GBPAUD in the last weeks and in my last article, I published a signal:

Stop entry: 1.9692, SL 1.9635 and TP 2.0190

Did you take it?

If you did, you have almost 300 pips on your favor, you need to hold it a bit longer so it reaches our TP order, which is around 200 pips from where the market is currently trading at.

200 pips might seem like a lot, but its not the case in the GBPAUD, it could move a few hundred pips in just a few hours, so you got to be patient ok?

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very-important

Last week I told you I was going to share my strategy with you, and started with a few aspects that are important to understand before going through the main strategy

What I’m going to share with you today is probably the most important aspect of trading… Ironically, it has nothing to do with your entry, but get this right, and you’ll be on your way to consistent results.

The most important aspect of trading

Every week I get at least this question once:

What do you think is the most important aspect of trading?

And my answer has always been the same:

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GBPAUD Signal

GBP and AUD flags

Hey traders, heading off for a good start :)

Here is a possible trade I’d like you take a look at… But first, let me share with you a few things about this particular currency pair!

Its always good to know the personality of each instrument, its not very effective to treat in the same way all of them, because they behave in a different way. Heck, you cant even treat the same instrument in the same way one day from the other… go figure…

Get to know the GBPAUD

Its the GBPAUD… The first thing that you need to know is this one is a currency pair that really moves.

A 40 or a 50 pip move in this currency pairs means nothing, that means that we need to use large SL levels.

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Long signal

GBP and AUD flags

Hey traders, how is your trading going?

Last week I wrote about the GBPAUD, I thought it was trading in a very clear bullish condition but didn’t mention anything about my entry signal…

The market conditions are still unchanged, its been slow, but it is still trading in a clear bullish condition… and you know what we need to do.

Keep looking for long opportunities.

One of the things that I like about the GBPAUD (and GBPNZD) is that it moves a lot, once it gets going, nothing will stop it…

So we need to get ready to trade it, otherwise we’ll miss this opportunity.

Here is my signal!

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As you already know, I like to trade the currency pairs that have a clear condition on both, long term and short term charts.

This way we can determine:

  • ST and LT support and resistance levels
  • Market swings

And once we have that information, we can do wonderful things with the market.

When you’ve got clear S&R levels plus clear swings you know what the market is doing, and when you know what the market is doing, is quite easy to determine what the market is likely to do.

In order to get to that point you need to do both, a LT and a ST analysis… just like this one:

GBPAUD Long Term Analysis

Here is the long term chart:

GBPAUD 1D

Right now the GBPAUD is trading near a LT level, that means that we still dont know whether the market is going to break that resistance level up or get rejected from that level and continue its way down.

The good thing about this is that WE DONT NEED TO KNOW.

We can look at the short term charts to determine the levels that the market needs to break so we can start looking for trade opportunities.

GBPAUD Short term analysis

Here is the short term chart:

GBPAUD 1H

The good thing about the GBPAUD is that it’s got clear S&R levels in the short term charts… and because of this we can create a complete trading plan.

  • If the GBPAUD breaks above the ST resistance level (1.8344) I’ll start looking for long opportunities.
  • If the GBPAUD breaks below the ST support level (1.8106) I’ll start looking for short opportunities.

It looks like we are getting the second rejection of the resistance level, we’ll have to confirma that!

Your Turn

What do you think about my analysis? Are you going to trade the GBPAUD?

What other currency pairs are you monitoring?

Share your thoughts!

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My Complete Trading Plan

Hey traders, hope everything is going well…

What do you think about the market in the last few week?

Sometimes it’s difficult to trade, but in the last few weeks that certainly hasn’t been the case.

A few currency pairs have very clear market condition, and at the end, those are the ones we need to focus on.

What do I mean by clear market condition?

  • Clear S&R levels
  • Clear Swings

When you’ve got both of them, you know what the market is likely to do in the following hours/days, and that of course helps us take better decisions.

So here is my trading plan for a few of the currency pairs I’m actually monitoring.

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