Seems I’m not the only person looking for a long GBP/USD up to about 5700+

Here’s what I just got out on the wire:

Danske buys the GBP/USD dip, going long at 1.5622, looking for a recovery to 1.5714 with a protective stop down at 1.5562. GBP/USD at 1.5634 from the day’s 1.5610 low.

 

Danske group is a massive banks and  financial services company with about 5 million retail clients in europe, and many large institutional clients as well.

No idea if it’s gonna mean a hill of beans. for all I know they purchased a whole 100 lots and are done. However, usually stories on the wires like that are more often than not worthy of some consideration.

EUR/USD long trade tonight…

here are two charts showing why I got long on the eur/usd, and how I came about picking my entry points. the top chart is a daily, the lower chart is a 5 min chart

 

Another trade I am happy to take…

just got long the AUD/NZD… I think a 50 stop and target should do just fine… I don’t see us breaking below  2700, before we retest 2800.

not as good of a trade as the GBP/NZD long from earlier was… this one is more risky…but still IMO solid enough to mention here, as well as take in my own account of course.

 

THE setup of the session (maybe even the day or week)

Ok…so, i’ve been stalking this trade for what seems like all month now… but it looks like it’s finally ready to make it’s move. I think the trade of the day will be a long on the GBP/NZD

lets take a look at the charts…

Now, if the chart isn’t convincing…take a look at the gbp/usd right now…about 20 past the wellington NZ open….

and, do the same for the NZD/USD…

if you ask me, GU looks like it’s about to bounce up

and NU looks about to drop down…and it has at least 100 pips before finding any real support…

so do the math. this GN trade IMO should be really nice.

Oh, and just in case anyone is interested, i’m still short NZD/CAD from friday…average fill is about 8107, and the same for NZD/USD, short from about 7894.

i may post a chart or two on those as well, later today.

 

Simple EUR/AUD short trade…

Again, previous daily highs and lows, session highs and lows, weekly highs and lows, etc… make great places to look for the markets to turn around at.

Particularly when several all overlap in the same general price zone, the odds of having price reverse off that level is very high, as the EUR/AUD short trade pictured below shows (it’s a 1 HR chart)

Likely EUR/USD low of the day…

Well, that should be about it for the EUR/USD today…. i think 2565ish will be the low. made about 10 minutes ago… we’ll see.

Easy…. Easy Trade…

an AUD/USD short from yesterday. About as good as it gets in terms of setup.

1. significant previous support near my entry from back in april. (monthly low)

2. previous daily resistance (daily high)

3. Price was over extended – Price has moved into the level without consolidating recently…. since it broke out of 1.0000, over 200 pips ago

4. The uptrend was losing momentum, and price had only moved up about 10-15 pips above the previous daily high…

5. 1.0200 is a major figure – lots of folks who got long as price broke abouve 1.00 will look to take some profits here if they haven’t already (day traders and swing trades alike)

6. Correlated markets also coming into resistance

Here’s a link to the actual trade I took in a “model account” – I pretty much take the exact same trades in my own primary account (both are real money, just one is much bigger):

http://www.forexfactory.com/showthread.php?t=364409&page=19#49-list+trade964584829

More High Probability, High Reward, Low Risk Technical Trade Examples

Here is the EUR/USD pair from the last 48 hours or so… you can see the two “spike bases” on the move up just to the left of the two grey rectangles. The “grey rectangles” are my buy zones… places I would look to put a long order..and a stop just a little below these boxes. I would have gone long on the first test of each box (but ONLY the first…not the 2nd)

and, the blue line at the top is the previous daily high for yesterday.

amazing, but daily highs and lows, as well as “spike bases” that are formed during an impulse move up or down…. are all really solid places to look for setups that will work in your favor. Specifically with spike bases, if the “spike base” corresponds with a previous area of resistance (if it’s an upward impulse wave in which the spike base is found), or a previous area of support (if it’s a downward impulse wave)…those are some of the best of all, IMO

Long USD/CAD…

I’m also looking to get long the USD/CAD somewhere between 1.0665 – 1.0650, with about a 30-40 pip stop, and 90 + pip target…

GBP/NZD long – update

well, my initial entry got stopped out, but the disappointing GBP news really worked in my favor, and triggered these two entries as you see below:

It seems to be setting up to be a good trade… so far up 50 pips now…

oh, and I noticed an article today discussing what I just recently wrote about – the trade of the summer is to short the german bund market… Seems hedge funds are now getting “air time” on CNBC to discuss this very same thing:

http://www.cnbc.com/id/47883452