EURJPY long signal

December 20th, 2011

What do you think about the EURJPY? I think it is trading in a very clear bullish condition. Last week it traded in a short term range (around a LT level) and earlier this morning it broke through the top of the range triggering a bullish market condition:

Details:

Entry: 102.03
SL: 101.65
TP: 106.95

The risk reward ratio it’s pretty large on this trade, more than 10:1… If it continues to move in my direction I’m going to trail my stop.

What do you think of this trade?

Trade Safe!

Raul Lopez
Forex Training

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Are you watching the EURNZD?

December 16th, 2011

I am, and if you are, looks like it just broke through an important support level on the short term range. This triggered a bearish market condition and I will only look for short opportunities:

As long as the EURNZD trades below 1.7124 I’ll keep looking for short opportunities.

Trade Safe!

Raul Lopez
Forex Training

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Just opened a trade in the USDCHF

December 14th, 2011

Are you still bullish on the USDCHF? Because I am, I still think it is on its way up to hit the next LT resistance level which is at 0.9737, but only time will tell. Here is the chart:

I liked the way it was rejected from the ST support level (previous ST resistance level), plenty of upward pressure around that level, which is good if you are bullish on this pair.

Details:

Entry: 0.9491

SL: 0.9455

TP: 0.9705

What do you think? Was it a good idea?

Let me know.

Good luck!

Raul Lopez
Forex Training

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Closely monitoring the GBPCHF

December 13th, 2011

Did you trade the USDCHF yesterday? Let me know if you did…

Another pair that I’m closely monitoring is the GBPCHF, as the USDCHF, it already broke through an important resistance level and it is likely to continue its way up, see it for yourself:

If it continues to trade above the pivot point, I’ll keep looking for long opportunities.

What do you think? Are you monitoring this one? Please comment if you are.

Trade Safe!

Raul Lopez
Forex Training

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Are you looking for trade opportunities on the USDCHF?

December 12th, 2011

First of all, hope you all had a great weekend! Mine was a little unusual, I ran a marathon and as you may have guessed, my legs still hurt, but it doesn’t matter, being at the finish line makes it all worth it! You should try it!

Anyway, as I told you last Thursday, I wasn’t going to trade on Friday because of the European summit, and earlier today I saw there were no big changes… did you trade last Friday?

Today, one of the currency pairs that I like the most is the USDCHF, just broke through an important resistance LT level as well as another ST resistance level, so it has a good possibilities of continuing its way up. Here are the LT charts:

As long as the USDCHF keeps trading above 0.9325 I’ll be looking for long opportunities.

My next LT resistance level is at 0.9737

Trade Safe!

Raul Lopez
Forex Training

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I guess I’ll have a long weekend

December 8th, 2011

Want to know why I’m taking a long weekend?

  1. Earlier today the ECB announced a rate cut to 1% from 1.25%.  Did you see the impact on the market on the rate cut? It was descent, and we’ll probably see more volatility because of this.
  2. European Summit. The next following days are extremely important for the European crisis, plenty of decisions need to be taken, and by judging today’s impact of the ECB rate cut, we’ll see more wild moves today and tomorrow.

So let me suggest you, just take the rest of the week off, I’m going to do it.

Are you doing to trade the rest of the week? Let me know.

Please have a great weekend!

Good luck!

Raul Lopez
Forex Training

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I still like the NZDUSD for longs

December 7th, 2011

I still see good opportunities on the NZDUSD for long opportunities. On the long term charts it was rejected from an important LT support level, and take a look at the short term chart, we are just trading around an important support level:

We only need to be careful because later today the interest rate announcement from New Zealand is released. Other than that, I’m pretty comfortable looking for longs.

What do you see?

Trade Safe!

Raul Lopez
Forex Training

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GBPCHF update and GBPJPY opportunity

December 6th, 2011

My trade on the GBPCHF didn’t work out yesterday, I still think it was a good opportunity, it was trading in a well defined short term range near an important ST resistance level, but the GBPCHF just didn’t want to follow through and I’ll have to reassess it’s analysis.

Anyway, I’m keeping an eye open on the GBPJPY, take a look at its short term charts:

What do you think about the support level? I really like it, I see good upward pressure around 121.40, which is where I usually get my signals.

Are you thinking about going long here? Let me know.

Cheers,

Raul Lopez
Forex Training

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Short signal on the GBPCHF

December 5th, 2011

I hope you all had a great weekend!
Last week I wrote about the GBPCHF, it is clear that It’s trading in a bearish condition and I was waiting for a retracement before taking my trade, and guess what? That has just happened. I liked the way it has been bouncing off the ST resistance level, this is what makes this a great opportunity, on the long term charts it’s bearish plus on the short term charts a clear resistance level equals to: LOOK FOR SHORT OPPORTUNITIES:

Here are the details of my trade:

Entry: 1.4387
SL: 1.4437
TP: 1.3839

Make your math on the risk-reward ratio and let me know what you think.

Trade Safe!

Raul Lopez
Forex Course

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Will the EURUSD go back to 1.4050?

December 1st, 2011

I think so, it’s clear that the EURUSD was rejected from an important support level on the long term charts, and on the short term charts it broke through an important resistance level which puts the EURUSD in a bullish market condition:

How far will it go? No one knows for sure, but at least it should reach its resistance level around 1.4050.

As long as the EURUSD trades above 1.3392, I’ll be looking for long opportunities.

Are you also looking for long opportunities?

Trade Safe!

Raul Lopez
Forex Course

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Still looking for short opportunities on the GBPCHF

November 30th, 2011

Last week the GBPCHF broke through an important ST support level, triggering a bearish market condition. What I like about it now is that the ST resistance level is still holding, and I’d say its safe to look for short opportunities around that level:

I’ll wait for a retracement to the ST resistance level, if it does retrace and forms a significant pattern with downward pressure, I’ll be short!

Do you agree with me?

Trade Safe!

Raul Lopez
Forex Course

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What do you think about the NZDJPY?

November 29th, 2011

Are you currently trading the NZDJPY? Because I’m thinking about longing it. There are two things that I like about the NZDJPY:

  • If you take a look at the long term charts, its clear that it was rejected from an important support level.
  • If we get a BOJ intervention, it will be on our favor.

 

Here is the 15M chart:

My trading plan:

Wait for a retracement to the short term support level (lower green level) and if it forms a significant pattern with upward pressure, I’ll be going long.

What do you think?

Trade Safe!

Raul Lopez
Forex Course

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Here we go: short on the NZDUSD

November 24th, 2011

Since yesterday, that the NZDUSD broke the previous low (daily charts) it made me feel more comfortable trading it (looking for short opportunities). It’s clear now that it is likely to continue its way down. And what’s best, on the short term charts, it looks like as if the ST resistance level is holding:

It was rejected from an important resistance level and formed significant downward pressure, that means I just set an order to go short:

Short order: 0.7414
SL: 0.7464
TP: 0.7159

Trade Safe!

Raul Lopez
Forex Course

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Have you been trading any of the JPY crosses?

November 23rd, 2011

I’m definitely not comfortable trading the USDJPY, there is some kind of intervention going on, once it starts to go down, it moves back up, over and over… I wouldn’t risk my capital on this pair, but what about the other JPY crosses? How do you feel about them?

One of them that I’m currently monitoring is the CADJPY, if you look at the long term charts its clear that it is trading in a bearish market condition and likely to continue its way down. But what I like the most about it is that on the short term charts it’s been trading in between consistent support and resistance levels:

I’ll see if it retraces back to the short term resistance level and forms a significant pattern with downward pressure.

One thing to note though, I’ll think it twice if the USDJPY drops significantly, because the BOJ will intervene.

Trade Safe!

Raul Lopez
Forex Training

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Getting ready to short the GBPCHF

November 22nd, 2011

Last week I wrote about the GBPCHF, since the Bank of Switzerland intervention I haven’t traded this one, but right now, it is certainly shouting “short me” (at least that’s what I see, do you see something else?)

It traded for a while in a short term range around an important long term level, but earlier this morning it broke the lower extreme of the range. This triggered a bearish condition and it is more likely to reach the next LT level, which is at 1.3809:

My plan is:

Wait for the GBPCHF to retrace back to the ST resistance level (green level), if it forms a significant pattern with downward pressure I’ll go short.

Trade safe!

Raul Lopez
Forex Course

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