Tag: GBPAUD

Short signal (breakout signal)

GBP and AUD flags

You know, there are periods of instability, periods in which its very complicated to trade, or to find low risk trade opportunities…

There is no doubt about it!

But there are also periods, in which trading seems so easy… we just need to find them.

For instance, one of the currency pairs that I’ve been trading lately is the GBPAUD.

Take a look at its long term chart:

EURNZD, forex, GBPAUD, signal

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Do you want more than 300 pips?

300

Yeah, I know the answer, of course we all want 300 pips or more…

The question is how to get them.

The key is to find the the currency pairs that are more likely to move in one direction over the other. This way we’ll be able to control our risk.

That means that we need to look at the charts, find clear S&R levels, find clear swings and then you have a good candidate!

Look, you could use the most advanced technical indicator or tool, but I’m going to tell you something:

300 pips, forex, GBPAUD

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GBPAUD Long Signal

Slow Market

Hey Trader, the market has been slow this week hasn’t it?

Yesterday I’ve got an email from fellow trader… he was asking me if there was something wrong with the market, he thought that it was so slow.

And he is right, the market has been slower than usual, but, is it something we should be alarmed with?

Of course not.

There are weeks like this one, the only thing that we need to do is to be extra careful with our trades, you dont want to be trapped in a trade that barely moves, do you?

So focus in the levels and pairs that have the highest probability of moving in one direction over the other.

Plus, let me tell you something… there is always something:

forex, GBPAUD, signal

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GBPCAD update and GBPAUD Trade Opportunity (1000 pips sounds good to you?)

Forex Chart

Hey Traders, hope everything is going well so far in 2014!

I’m really interested in knowing what you think about how the markets have been moving so far in January?

Because let me tell you something, I’ve been watching all pairs, and some of them have been very difficult to trade, and with this I mean:

  • No clear support and resistance levels
  • No clear swings
  • Very volatile during news announcements

But not all of them, just the majors, the most traded currency pairs.

But that hasn’t been the case for other crosses, like the GBPCAD or the GBPAUD and others.

So here is my question: do you ever venture to trade those crosses? Even when the spread is larger than with the majors?

When I started to trade, I remember I looked for the currency pair with the tightest spread and just trade that one (it was the EURUSD of course).

forex, GBPAUD, GBPCAD, signal

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Long signal in the best currency pair to trade right now

GBP and AUD flags

I’ve always thought that the key to trading successfully is how you handle the long term charts…

It’s not that you have to trade off the long term charts, but you need to see what is going on in the longer timeframes…

Even if you trade off the 5 or 15 minutes chart… it pays to do some analysis on the long term charts.

Have you tried it?

It doesn’t even matter what system you use… You can use:

  • Fibonacci
  • Technical indicators
  • Price action
  • The moon cycles
  • Your cat

If you trade always in the direction of the market condition, sooner or later you’ll have better results…

Here is what you need to do:

forex, GBPAUD, signal

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What do you think about my long signal (Breakout signal)?

GBP and AUD flags

Not all breakouts are created equal!

Some traders don’t like to trade breakouts, and you know what, I don’t blame them… It’s not a very pleasant experience to see the market just hit your entry order to reverse to hit your SL level…

Heck, there are even some traders that trade the infamous fakeouts (which are false breakouts)…

I guess the trader that invented that strategy didn’t do well with breakouts, did he?

Anyway…

I like to trade breakouts, but not every one of them…

breakout, forex, GBPAUD

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What do you think about my long signal?

I’ve been talking a lot about the GBPAUD lately (maybe because it is one of the currency pairs that I feel most comfortable with – at the moment)… last week anyway.

Last tuesday I talked about The SF Box and how you can apply it to the GBPAUD to determine when to start looking for trade opportunities (which is what defines a clear market condition).

Then on thursday I talked about the profit potential of the GBPAUD… it has more than 800 pips before we hit the next LT level…

I also talked about my trading plan, what the market needed to do in order to open my trade.

Now, since last thursday the market has been painfully slow, turtle slow… But it pays to be patient, it pays to follow your plan.

Anatomy of my Long Signal

Here is my hourly chart:

forex, GBPAUD

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Here is how to make 800+ pips

GBP and AUD flags

There is a difference between making 800 pips (or 50 pips or whatever amount of pips) with a methodology than without one.

When you use a well defined methodology you feel well, because you know you can replicate those results in the future, you know exactly what you need to do to make another 800 pips.

It just feels good, you feel confident and comfortable.

And what about when you dont use a well defined methodology?

It’s impossible to replicate those results and you know that, and it doesn’t feel well.

At the beginning you might feel good, but when you start thing about your next trades and how to make more pips, you get that feeling that you are not doing things right…

Then you start feeling uncomfortable, stressed, etc.

Some traders change, and sadly others never do it. The ones that do change are the ones who have a real possibility to become successful traders.

Now, I believe that most of us at some point on our trading careers traded without a system (I did), but what you need to be aware of is that there is just no way to get consistent results without a well defined methodology.

What about you? Do you have a well defined methodology?

Ok, now to the point…

forex, GBPAUD

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Here is how you can apply The SF Box technique

Last week I released a Free eBook about The SF Box, which is a very powerful concept that can change the way you see and trade the market for good.

It answers two fundamental questions about trading:

  • What currency pairs to trade
  • What direction to trade them

So if you haven’t, Download the Forex eBook from here, while it is still FREE. (it has been downloaded thousands of times already).

And based on the feedback you have emailed me, I know its been very helpful.

Anyway, here is a real example of how you can apply The SF Box in the GBPAUD.

forex, GBPAUD, The SF Box

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