Forex Forum to Share, Discuss, Communicate and Trade Forex

NewBie's Trading Journal

Here we have a thread for each important currency pair. Each currency pair has a poll for your sentiments (bearish, bullish or neutral). The choice can be changed multiple times. Hope this tool will be a good aid if everyone contributes to it.
Image

NewBie's Trading Journal

Postby pipabode » Tue Jan 19, 2016 9:16 am

Technical analysis of GBP/CHF for January 19, 2015
Image
Technical outlook and chart setups:

The GBP/CHF pair is trading around 1.4360 levels after printing lows at 1.4200 levels last week. The pair is forming a HARAMI candlestick pattern on the daily chart, indicating a potential reversal from current levels. But we need confirmation, so let the pair break above 1.4600 levels before looking to trade again. It is hence recommended to remain flat for now and wait for further confirmation to initiate long positions. Immediate support is seen at 1.4200 levels, while resistance is seen at 1.4600 levels. Please note that the pair has bounced from the Fibonacci 0.786 levels around 1.4200 levels.

Trading recommendations:

Remain flat for now. Looking to go long again.

Good luck!
pipabode
 
Posts: 171
Joined: Wed Jul 22, 2015 3:29 pm

Re: NewBie's Trading Journal

Postby pipabode » Tue Jan 19, 2016 9:17 am

Technical analysis of EUR/USD for January 19, 2016
Image
The EUR/USD pair is still moving between levels of 1.0804 and 1.0984. These levels correspond to the double bottom and 78.6%% of Fibonacci retracement levels in the H1 chart. The pair has already formed strong resistance at the level of 1.1001 and is currently approaching it for further testing. Therefore, the EUR/USD pair is expected to go downwards following the non-corrective structure indicating the bearish opportunity below the level of 1.0984 (the double top). Sell deals are recommended below 1.0984 with the first target at 1.0871. Thus, the downtrend is likely to continue the bearish movement towards 1.0820. Moreover, the price has probably formed the strong support level at 1.0804 in the H1 chart. The saturation is likely to take place around 1.0804. Therefore, it is possible that the market will start showing the signs of a bullish behavior later. In other words, buy deals are recommended above 1.0804 with the first target seen at 1.0901 and further at the level of 1.1000. Also, it should be noted that the key level is set at the weekly pivot point (1.0901).
pipabode
 
Posts: 171
Joined: Wed Jul 22, 2015 3:29 pm

Re: NewBie's Trading Journal

Postby pipabode » Tue Jan 19, 2016 9:20 am

EUR/NZD analysis for January 19, 2016
Image
Fibonacci Pivot Points:

Resistance levels:

R1: 1.7070

R2: 1.7170

R3: 1.7330

Support levels:

S1: 1.6750

S2: 1.6650

S3: 1.6495

Trading recommendations: The short-term trend is still upward. So, watch for potential buying opportunities on dips.
pipabode
 
Posts: 171
Joined: Wed Jul 22, 2015 3:29 pm

Re: NewBie's Trading Journal

Postby pipabode » Tue Jan 19, 2016 9:22 am

Gold : analysis for January 19 , 2016
Image
Daily Fibonacci pivot points:

Resistance levels:

R1: 1,090.75

R2: 1,091.25

R3: 1,092.00

Support levels:

S1: 1,089.00

S2: 1,088.55

S3: 1,087.70

Trading recommendations: Watch for potential selling opportunities, buying looks risky.
pipabode
 
Posts: 171
Joined: Wed Jul 22, 2015 3:29 pm


Return to Forex Sentiments Meter - Updated Automatically

 

Who is online on Forum

Registered users: Alexa [Bot], Andrea ForexMart, Baidu [Spider], Bing [Bot], FXTM Official, Google [Bot], Majestic-12 [Bot], MariaKriszelle

cron