Long Signal in the GBPNZD

Written by Raul Lopez on . Posted in Trades & Analysis

Hey traders, how did you do yesterday with the US GDP and FOMC statement?

Did you have any trade open or just closed them out?

Now, tomorrow we’ve got the Non-farm payrolls report, so again we need to be careful about your open positions…

But not too much, in the last few months we haven’t seen much impact after the NFP report, but that doesn’t mean it doesn’t have the potential to have a large impact in the market…

So we still need to be careful alright?

How do you handle your trades during important announcements like these ones?

Ok, now to our signal.

This is my trading plan for the CADCHF

Written by Raul Lopez on . Posted in Trades & Analysis

Non farm Payrolls report

I dont think I’ve seen the market as slow as it has been trading this week in a while… What are your thoughts about this?

So my question to you is this one: What currency pairs are you trading/monitoring?

Now, do you think that the fundamental announcements have something to do with it?

Tomorrow we’ve got the FOMC minutes (which has proved to be the most important fundamental announcements, or at least the ones that has the most impact in the market) and the Advanced GDP.

Then later this week, on friday we’ve for the Non-farm payrolls report…

So yes, I have a feeling that that’s the reason the market has been so slow… 3 of the most important announcements in the same week…

What do you think?

Ok, now to the CADCHF Analysis

Is it time to trade the EURUSD?

Written by Raul Lopez on . Posted in Trades & Analysis

Euro Flag

The EURUSD is the most traded currency pair…

A lot of traders are attracted to this pair because of its spread, which is probably the currency pair with the tightest spread around…

The spread that some brokers use in the EURUSD its even less than a pip…

Let met tell you a little secret… I did the same thing when I started to trade…

But now with all these years of experience I know that it was a mistake, why would I trade the same currency pair, everyday regardless of its market condition…

I used to force my self to trade it because of its spread even when I had no idea of what the market was likely to do and oh boy, what a mistake it was…

Now I have a different approach, I trade the currency pairs that has the clearest market conditions… the ones that I feel comfortable with, the ones that have clear S&R levels and clear swings… Those are the ones that I focus each and every day…

And believe me, the results are self evident!

Look at this currency pair, it’s the clearest of them all

Written by Raul Lopez on . Posted in Trades & Analysis

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

As you already know I make a list of the clearest currency pairs to trade each day…

I try to focus on those pairs that have clear S&R levels + clear swings…

I see it this way… Trading is a probabilities game right? Ok, So I try to put the probabilities on my favor on each aspect of trading:

  • Long term charts
  • Short term charts
  • How I manage my SL
  • Keep adding to my trade
  • Etc

So what I’m doing here is putting the probabilities on my favor, and I know the market might go against me once or twice, but at the end, the probabilities will do its job, and I’ll come ahead.

What do you think?

Anyway… Here is one of the clearest pairs to trade today!

This is the best pair to trade today

Written by Raul Lopez on . Posted in Articles & Education, Trades & Analysis

One

One of the most common mistakes traders tend to make is to focus just on one or two currency pairs.

Let me tell you what happens when you decide to do that…

You see, sometimes it’s very difficult to determine what the market is likely to do… And not because we are not good traders/analysts but because sometimes the market behaves in unexpected ways…

That’s it!

There are days that it’s just impossible to trade!

If you focus in just one or two currency pairs, you are going to force yourself to take trades when the odds aren’t on your favor…

What do you think will happen if you constantly trade against the odds?

My complete trading plan for the GBPAUD

Written by Raul Lopez on . Posted in Trades & Analysis

As you already know, I like to trade the currency pairs that have a clear condition on both, long term and short term charts.

This way we can determine:

  • ST and LT support and resistance levels
  • Market swings

And once we have that information, we can do wonderful things with the market.

When you’ve got clear S&R levels plus clear swings you know what the market is doing, and when you know what the market is doing, is quite easy to determine what the market is likely to do.

In order to get to that point you need to do both, a LT and a ST analysis… just like this one:

GBPAUD Long Term Analysis

Here is the long term chart:

GBPAUD 1D

Right now the GBPAUD is trading near a LT level, that means that we still dont know whether the market is going to break that resistance level up or get rejected from that level and continue its way down.

The good thing about this is that WE DONT NEED TO KNOW.

We can look at the short term charts to determine the levels that the market needs to break so we can start looking for trade opportunities.

GBPAUD Short term analysis

Here is the short term chart:

GBPAUD 1H

The good thing about the GBPAUD is that it’s got clear S&R levels in the short term charts… and because of this we can create a complete trading plan.

  • If the GBPAUD breaks above the ST resistance level (1.8344) I’ll start looking for long opportunities.
  • If the GBPAUD breaks below the ST support level (1.8106) I’ll start looking for short opportunities.

It looks like we are getting the second rejection of the resistance level, we’ll have to confirma that!

Your Turn

What do you think about my analysis? Are you going to trade the GBPAUD?

What other currency pairs are you monitoring?

Share your thoughts!

Retracement trade in the EURGBP

Written by Raul Lopez on . Posted in Articles & Education, Trades & Analysis

You know… sometimes I believe that patience is the most important virtue when it comes to trading.

It’s very difficult to be patient though, its far easier said than done.

But sometimes its the only way to be in the market and really have the odds in your favor, like it happened to me with this EURGBP trade, let me walk you through it…

Here is the short term chart:

The one (simple) secret to trade breakout trades

Written by Raul Lopez on . Posted in Articles & Education

false-breakout

Hey trader, hope everything is going great!

What do you think about the markets this week, after the NFP and the ECB interest rate announcement last week?

I want you to tell me something, is it just me or you also think the NFP report should not be considered as an important announcement anymore?

I just don’t see the market reacting to the NFP report as it used to…

Now, this week comes what I believe is the NEW MOST IMPORTANT FUNDAMENTAL ANNOUNCEMENT: FOMC Meeting Minutes.

This ons has proved in the last year to be the fundamental release that most impacts the market.

Do you agree with me?

Ok, now on to breakouts!

How to trade the CADCHF

Written by Raul Lopez on . Posted in Trades & Analysis

Non farm Payrolls report

Hey traders, how did you do with non-farm payrolls report?

Did it impact any of your trades?

Do you agree with me that the NFP doesn’t have the impact it used to have a few years ago?

I remember those days when the market moved 100 or 150 pips a few minutes after the NFP report… The straddle strategy was the way to go there.

But those days are gone now…

CADCHF long signal

Written by Raul Lopez on . Posted in Trades & Analysis

buy sell forex

How is everything traders??? Are you ready for the NFP report later this week?

I know you already know about the risks of trading during the NFP, which is today the second most important fundamental announcement (second to the FOMC Minutes).

The sentiment of the market could change in just a few seconds, so please, be careful alright?

Now, it’s not that the market will move hundreds of pips in a few minutes (like it used to move), these days it just whipsaws and thats it…

So please don’t try to trade it…

Focus on real opportunities, try to understand what the market is doing what it is likely to do, and once you have that information, trade it…

Only then the odds will be in your favor. Ok?

Ok, lets get to today’s signal!

StraightForex
Raul Lopez Forex

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Coaching. Read more about me.

If you have any question about anything, please feel free to contact me at: info@straightforex.com or call +1 518 300 3828

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