It’s funny, I don’t know if I’m biased because of yesterdays post, but I just went short on the NZDUSD.
Anyway, I knew the NZDUSD was in a bearish condition, I was just looking for a small retracement and we got it. If we couple that with good downward pressure, we got our short signal:
Here are the details of my trade:
Entry: 0.7661
SL: 0.7696
TP: 0.7505
What do you think about this trade?
Cheers,
Raul Lopez
Forex Training
Last week the NZDUSD broke the bottom of the range, since then, the kiwi has been falling like a rock, and I’m getting ready to short it.
Here is my plan:
I’m waiting for a pullback to the main ST resistance level at 0.7760. I plan to hold my trade until the NZDUSD reaches the next LT support level at 0.7500.
Sounds like a good plan to you?
Let me know what you think.
Cheers,
Raul Lopez
Forex Training
Hey, how was your weekend?
In a recent article I wrote about the EURUSD (and therefore the USDCHF). The way the EURUSD looked back then was terrible, no clear support and resistance levels, it was trading in an unclear and undefined range.
How on earth are we supposed to trade it that way?
But now things are different, the EURUSD broke through an important support level, and this puts it into a clear bearish condition. Let me show you my chart so you can see what I’m talking about:
Now you are with me, aren’t you? Or not?
So for now, I’m going to be looking for short opportunities on the EURUSD (and therefore I’ll also be looking for long opportunities on the USDCHF).
Are you with me?
Have a great week ahead!
Raul Lopez
Forex Training
Do you hold your trades during important announcements?
Sometimes I do, but only when the market has moved on my favor enough to make me feel comfortable with my trade and move my SL to the BE level (at least).
But sometimes we need to be careful, especially with the GBP and CAD which are the currencies that react the most to its fundamental announcements.
Take a look at the GBPCAD:
What do you think?
Do you hold your trades during important announcements?
Have a great weekend! And I see you on Monday!
Raul Lopez
Forex Coaching
It’s been a while since the last time I placed a trade on gold, but I’m really thinking about trading it in the following weeks.
Take a look at this chart:
So it looks like it will go down a bit, and then turn around.
Of course I’ll wait until we see a clear rejection of the support level, then I’ll start looking for long opportunities.
Do you think it’s a good plan?
Cheers,
Raul Lopez
Forex Course
Yesterday I received an interesting email, a fellow trader asked me how come I never analyze the EURUSD?
This was my answer:
I do analyze and trade the EURUSD, I just think that right now it’s not the right time to trade it.
You see, what I try to do each day is analyze both, the long term and the short term charts and identify the currency pairs that have: a clear condition on both, the short and long term charts.
When we have a clear condition, we know what the market is likely do, then all I do is to try to find an entry on the short term charts (in the direction of the long term market condition).
And believe me, the EURUSD is far from being clear right now. Take a look at its weekly chart:
Do you have any idea of what the EURUSD is likely to do? If you do, please comment below, because I don’t…
And if you take a look at its short term charts, it’s worse…
I’m aware that some traders like to trade the EURUSD because of its tight spread, but let me ask you this:
What would you trade:
Please comment below and share your thoughts
Raul Lopez
Forex Coaching
Hope you all had a great weekend!
Did you trade the NFP announcement? If you did, how did you do?
What do you think about the AUDUSD? Since last week I’ve been monitoring the AUDUSD, I like the way it is trading and not it is about to reach the
ST resistance level, which is where I’m looking to go short. Take a look at this chart:
My trading plan:
Wait for a retracement to the ST resistance level at 1.0244, if the market gives me significant downward pressure, I’ll go short.
What do you think?
Have a great week ahead!
Raul Lopez
Forex Coaching
When the market breaks an important level, what is it likely to do?
I’d say it will continue in the breakout direction, until it reaches the next important level… do you agree with me?
Ok, so here is what the NZDCHF is doing on the long term charts:
From the way I see it, it is likely to continue its way down until it reaches 0.7172
Just wanted your opinion about this… What’s your take?
Cheers,
Raul Lopez
Forex Course
Want a clear trading opportunity today?
Look at the GBPNZD…
Every day I scan for the clearest trading opportunities out there, I look on both: short term and long term charts, and when they are aligned, bum! There is an opportunity.
A few weeks ago I wrote about the GBPNZD and its bullish condition on the long term charts, today is the turn of its short term charts:
As long as It trades above 1.9944 I’ll be looking for long opportunities.
Do you trade this one? Or would you rather trade one of the majors? Think about it, even when this one is that clear?
Share your thoughts!
Raul Lopez
Forex Course
I’m always looking for currency pairs that have a clear market condition, once I find something interesting I start monitoring it…
I understand that sometimes there are currency pairs that are difficult to trade, but this one, it’s right on the extreme:
It’s the NZDUSD 4H chart… please don’t tell me you are trading it…
It’s weird though, the AUD and NZD tend to move in the same direction, yesterday I talked about the AUDUSD, it is trading in a very clear short term range, but the NZDUSD, it’s a joke.
What do you think?
Cheers,
Raul Lopez
Forex Course
Hope you had a great weekend!
This week we have important fundamentals announcements, including: non-farm payrolls and ECB interest rate.
Will they move the market? I don’t think so, I think this week is going to be quite, of course, every time I say this, the market moves like crazy 
We’ll see what happens…
Anyway, what do you think about this range on the AUDUSD:
Would you trade it?
I think I am, but would like to hear your opinion about this one…
Cheers,
Raul Lopez
Forex Course
If you are monitoring the EURAUD I’ll appreciate your input… I have it in a very clear bullish market condition on the long term charts.
My next LT resistance level is at 1.3030, and my take profit order is at 1.2994.
This is the signal that triggered my trade:
Entry was on 1.2804 and my SL at 1.2761
Is this pair something you’d consider a good opportunity? Please share your thoughts
Trade Safe!
Raul Lopez
Forex Coaching
Take a look at its weekly chart:
I know, this is the weekly chart, and it is kind of complicated to use the weekly chart to take intraday trades.
But let me tell you something, the insights that you can get off both, the weekly and the daily charts can be invaluable.
For instance, after looking at these two charts, I know I’m going to be looking only for long opportunities on the GBPNZD until it reaches the next LT resistance level at 2.0481
What do you think?
Have a great week ahead!
Raul Lopez
Forex Training
There aren’t many opportunities today (from my point of view), that’s the reason I wanted to ask you: On what currency pairs are you focusing today?
One of the few currency pairs is the AUDNZD. On the long term charts I see a clear bearish condition. Do you agree?
On the short term charts, I got a short signal earlier today, it’s not open yet, but I will be in the following hours:
My stop entry order is at 1.2626, my SL is at 1.2671. I plan to take partial profits around the bottom of the short term range: 1.2535 and I have an open target for the remaining part.
Sounds like a good plan? What do you think?
Trade Safe!
Raul Lopez
Forex Coaching
Last week’s AUDUSD order update: it didn’t get triggered (luckily)
Hope you all had a great weekend!
What do you have on your watch list this week? What currency pairs you are going to be trading this week?
If you asked me, I’d say the GBPJPY is one of the clearest of them all… It’s clear that on the long term charts it is trading in a bearish condition.
Also, on the short term charts, it just broke through an important support level. This is what I’m talking about:
As long as the GBPJPY trades below 127.96 I’d be looking for short opportunities.
What do you think?
Trade Safe!
Raul Lopez
Forex Coaching
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