lord_of_trading

EURUSD which is making me so happy I cant believe it's not butter. This pair has been on a slippery slope for the past 2-3 weeks and has finally found some support around our entry of 1.296...exactly where I thought it would seeing as how this is the 61.8% retracement level on the weekly chart and historical support going back to 2013 and 2012. For this pair I see small buying at first to shake up the shorts and get them to offer up more EUROs at lower prices just so the big boys can come in and carry the price right back to our 1.32-1.33 range. From there I'm looking for my target at 1.37 to be hit...Now that's swing trading at its finest if this works out. as of now this all looks like it could work out. In a weekly chart and daily chart give you a closer look at the situation. Twitter: @iam_kevdidit StockTwits: @lord_of_trading Blog: iamkevdidit.blogspot com

As for USDJPY I say...Stop being so afraid of 110.00, we all know the banks are going to take this pair to 115.00. I have a video posted (right side of page) that even tells us the likelihood and story of the trip. On a 60min chart we can see timid traders waiting for the banks to come back to this pair (and out of EURGBP) to send the price higher for us. If you're like me and got in around 105.00 be strong and confident, wait, you'll be happy you did. Twitter: @iam_kevdidit StockTwits: @lord_of_trading Blog: iamkevdidit.blogspot com

GBPUSD is a prime candidate to start building long positions in. On a 240min chart we can clearly see the pair respecting 1.61585 and our RSI is moving our of oversold territory to give traders a chance to join the big boys for the long ride home back to the highs we associate with this pair. From an entry at or around 1.61585 I set my profit target my profit target at 1.64000 and after that, the sky is the limit. Twitter: @iam_kevdidit StockTwits: @lord_of_trading Blog: iamkevdidit.blogspot com

Lets look back to USDCAD and remember that last week we saw a triangle/bullish flag, a bearish divergence, AND a resistance level approaching. Here we are today dealing with those sings and signals. From 1.11 the price has fallen sharply and given me confirmation that my signals and indicators (tho they're delayed) did not steer me in the wrong direction.

NZDUSD; looks to me like the pair has found some support (and a good place to take profits) at .81223. I believe this small retracement will only last until previous support is met at around .82477. From this level traders will most likely see the price fall dramatically over the next 7-14 days.

GBPUSD has been a stubborn old man recently, giving traders no reason to want to participate in its action. The price has been hella volatile and I'm sure amateur traders are pulling their hair out trying to guess the next move. I believe, and believe me, the 1.60 level might be hit just to destroy the longs, confuse the shorts, and pick up pending orders. If not, the move higher is set.

So it seems to me my USDJPY trade has been ultimately successful and my first profit target, 110.00, is actually being approached. Here we should be looking to close half the position and move our stop-loss to brief support around 107.00 or if you want to be really risky move it to the entry at 104.90. Below we offer a daily chart perspective to show the recent run up!!

I've had USDJPY open for over 2 weeks and I'm not letting off until my target is hit. Im up over 200 pips

EURUSD which is making me so happy I cant believe it's not butter. This pair has been on a slippery slope for the past 2-3 weeks and has finally found some support around our entry of 1.296...exactly where I thought it would seeing as how this is the 61.8% retracement level on the weekly chart and historical support going back to 2013 and 2012. For this pair I see small buying at first to shake up the shorts and get them to offer up more EUROs at lower prices just so the big boys can come in and carry the price right back to our 1.32-1.33 range. From there I'm looking for my target at 1.37 to be hit.