Yes, the AUDUSD broke the bottom of the range

March 6th, 2012

Hey, how is your trading going so far this week?

Yesterday I talked about the AUDUSD, it was trading in a short term range. But guess what? Earlier this morning it broke through the bottom of the range:

What does this mean?

That the market is likely to continue its way down until it reaches its next LT support level.

So as long as it trades below green level at 1.0625 I’ll be looking for short opportunities.

What is interesting about the AUDUSD is that the next LT support level is at 0.9706. Enough pips don’t you think?

Trade safe!

Raul Lopez
Forex Coaching

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Are you trading the AUDUSD?

March 5th, 2012

If you are, I hope you are tasking in consideration the short term range it is currently trading in. It’s not a bad idea to look for trade opportunities on the extremes of the range.

Long opportunites around the bottom of the range and short opportunities around the top of the range:

And of course, be ready to trade if the market breaks either extreme of the range.

¿What do you think?

Trade Safe!

Raul Lopez
Forex Coaching

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The NZDUSD trading in a bullish condition

February 29th, 2012

Did you trade the range last week on the NZDUSD? I did, I took a trade off the bottom of the range and took profits just below the top of the range.

And have you seen how is it trading now? Take a look at it:

It just broke the top of the range, which means that long trades are in play.

Are you going to trade the NZDUSD? Let me know.

Trade Safe!

Raul Lopez
Forex Coaching

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Another signal on the USDCHF

February 28th, 2012

Hey, how is your trading going this week so far?

Last week I wrote about the USDCHF, I really felt comfortable shorting it, and I did take a short (I’m still holding it) and let me tell you something, just got another signal to go short:

Now, there are two things worth mentioning:

  1. Possible intervention of the Switzerland National Bank. Actually, there are intervening on the EURCHF not on the USDCHF. Take a look at it, at the daily chart, it is obvious that something is going on there. Now take a look at the swissy, its clear and its moves are smooth.
  2. Is scaling in a good possibility here? I really think so, the best moment to scale in is when the market moves on your favor, it is telling you: Hey, you probably made the right decision here, why not adding more? On the other hand, I think the worst moment to scale in (average down) is when the market goes against you. You are increasing the size of a trade that is not behaving the way you though it would behave.

What do you think?

Trade Safe!

Raul Lopez
Forex Coaching

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NZDCAD broke the short term range

February 27th, 2012

Hope you had a great weekend!

What do you think about the market this week? It isn’t as clear as it was least week is it? Please share your thoughts!

One of the few currencies that I’m trading is the NZDCAD. Last week it traded in a short term range but earlier today it broke through the top of the range:

As long as the NZDCAD trades above 0.8350 I’ll be looking for long opportunities.

Are you trading this one?

Have a great week ahead!

Raul Lopez
Forex Coaching

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Afraid to short the USDCHF?

February 23rd, 2012

I’m asking you this because of a possible Swiss National Bank (SNB) intervention. But let me tell you something, they didn’t intervened on the USDCHF, but in the EURCHF.

If you take a look at both daily charts, you’ll see a big difference from one chart to the other. The EURCHF looks artificial, while the USDCHF is smoother, just like any other currency pair.

If the SNB intervenes on the EURCHF, yes, it will hurt my trade, but I don’t think they will allow the EURCHF to fall below 1.2… What do you think?

Anyway, the USD CHF just broke through an important support level, it’s one of the currency pairs I’m currently monitoring and I will be looking for short opportunities as long as it trade below 0.9094:

<img class=”aligncenter size-full wp-image-3802″ title=”usdchf61″ src=”http://www.straightforex.com/blog-de-forex/wp-content/uploads/2012/02/usdchf61.png” alt=”" width=”351″ height=”373″ />

Are you with me?

Trade Safe!

Raul Lopez
Forex Training

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The EURGPB broke the top of the range

February 22nd, 2012

Hey! Hope everything is alright! Are you currently monitoring the EURGBP?

I am, to me, it looks in a very clear bullish market condition, it traded for a while in a not-well-defined range, but since it broke through this level up earlier this morning, I’ll be looking for long opportunities:

I have my next LT resistance level at 0.8549 (my TP orders will be below this level).

What do you think? Let me know.

Trade Safe!

Raul Lopez
Forex Coaching

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CADJPY looking good for longs

February 21st, 2012

Have you noticed most JPY crosses are trading in a clear bullish condition? Really, I’m looking for long opportunities on almost all of them.

Also, on most of them the short term S&R levels are very clear, take a look at the CADJPY for instance:

I’d be looking for long opportunities around the bottom of the range.

What do you think?

Trade Safe!

Raul Lopez
Forex Coaching

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Not much action today huh?

February 20th, 2012

Yeah I know… Banks were closed today in the US, so not much liquidity and most traders are waiting for tomorrow to open their trades (at least that’s what I’m doing).

One of the currency pairs I’ll be focusing tomorrow is the EURJPY:

I’d like to see the EURJPY retracing back to the main ST support level around 104.66 and if I get upward pressure around this level I’ll be going long!

What do you think about the EURJPY? Did you trade today? Let me know.

Good trading!

Raul Lopez
Forex coaching!

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Are you looking for short opportunities on the EURUSD? I am

February 16th, 2012

Did you notice the EURUSD already broke though an important ST support level? This support level has been an important level since the last week of January, where it was an important resistance level, when it broke through it, it became an important support level rejecting the market at least two times:

So as long as the EURUSD trades below 1.3044 I’ll be looking for short opportunities.

What do you think?

Good luck!

Raul Lopez
Forex coaching

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I’m considering longing the GBPJPY

February 15th, 2012

What do you think about the GBPJPY? If you are looking for long opportunities I’m with you.
The GBPJPY is trading in a very clear bullish condition, it was clearly rejected from an important LT support level and it is likely to continue its way up.

Now, take a look at the short term charts:

It broke through an important ST resistance level, retraced back and now it is testing the support level.

Do you think it will hold? Let me know.

Good trading!

Raul Lopez
Forex Coaching

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My trading plan for the NZDCAD

February 14th, 2012

Happy Valentine’s day everyone!

What are your thoughts for the NZDCAD? Right now it is trading in a short term range, so for now range trading, but I‘ll be ready if it breaks either extreme of the range:

If it trades in between 0.8348 and 0.8264 I’ll keep trading the range, short opportunities around the top of the range and long opportunities around the bottom of the range.

If it breaks the upper resistance level, it will trigger a bullish market condition and only long opportunities will be in play.

If it breaks the bottom of the range (0.8264) I’ll only be looking for short opportunities.

What do you think?

Good luck!

Raul Lopez
Forex Training

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AUDCAD looking good for longs

February 13th, 2012

Hope you all had a great weekend!

How do you think the market reacted to the Greece austerity plan? Truth be told, I thought the market was going to have larger swings… at least some of the pairs that traded the whole week on a very tight range…

Anyway, last week the AUDCAD broke through an important resistance level triggering a bullish market condition. Now I’m waiting a retracement to the ST support level:

And if it forms a significant pattern with upward pressure, I’ll be going long!

Have a great week ahead!

Raul Lopez
Forex Coaching

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What do you think of my trade on the EURUSD?

February 9th, 2012

Yesterday I wrote about the EURUSD, I really felt comfortable going long. And guess what, I went long.

Now, I need to admit that it was a little risky, there was this important announcement about the European economy and whether or not European countries were going to support Greece. Luckily they ended up supporting him.

This is the chart:

The yellow line on the middle was my entry level, the one at the bottom is my SL. My TP orders is way up! My risk reward ratio of this trade is larger than 10:1.

I like the fact that the EURUSD it’s been supported by LOPS1. But only time will tell what happens with my trade.

What do you think? Let me know.

Good trading!

Raul Lopez
Forex Training

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Is it time to long the EURUSD?

February 8th, 2012

I think it’s getting close, I’m already in a bullish market condition on the EURUSD, I’m just waiting for a retracement to the ST support level (1.3215), get upward pressure and I’ll be going long:

You think is about time to long the EURUSD? Or are you even looking for trade opportunities on the Euro?

Please let me know.

Trade Safe!

Raul Lopez
Forex Training

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