EURUSD#8 - Weekly Homework

[30m Chart]
If I were to trade early movement, short at 1.2915 to 1.2929, SL 40 to 50 pips, first target around 1.2835. Second target around 1.2795. SL should be able to cover previous high of 1.2964.


[Daily Chart]

From what I can see TODAY:
S1 ~ 1.2835
S2 ~ 1.2795
S3 ~ 1.2735, then 1.2690
R1 ~ 1.2965
R2 ~ 1.3025
R3 ~ 1.3090

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Staying vs. Exit

"Don’t be afraid to exit a trade if it starts to become unpredictable or out of character. However, don’t close out a trade just because you are nervous, if it still meets most of your criteria."

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GBPUSD#12 - Day Homework

GBPUSD didn't drop as much as initially expected. What about this now? Still can't catch it's behaviour.

Still will watch out when it nears double-top. There seem to be a strong resistance there.

Short entry possible at 1.5240 - 1.5275. SL 30 - 50pips


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GBPUSD#11 Weekly Homework

In the daily chart, GBPUSD seems to be moving within a range with last week's high and low as boundaries. There's a good chance it might continue to move in that pattern in the early week. As Trading Buddy said, it might be good chance to play within the S&R range.

It may still hit the high of between 1.5240 (fb80 from Big White B) and 1.5270 (Big Red L1 target).



Look at the 4-hourly chart, even though the price has been bouncing above the cloud last week, but last week's close saw Chikou finally broken below the price. It's a weak bearish sign because it cross the price above the cloud. Another reason to think it will go sideway.

Another scenario is, the price to drop to the flat top of the cloud (around 1.4870, also fb67 from last week's high in the daily chart), or flat kijun (around 1.4795, or fb50 retracement from bigger wave from the low of 8 June), before going up. Can look for chance to long at these 2 regions.

A good place to short will be EMA200 in the daily chart, around 1.5400. Shall observe more in the coming week.


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EURUSD#7 Weekly Homework

Last week EURUSD had retraced up beyond fb33 level, but just below fb50. For bigger trend, expect it to touch fb50 anyway.

In a daily chart, the flat top of the cloud can be a strong resistance against an uptrend. Can look out for short opportunities at 1.28 region. However, if price closed above the flat top, bullish trend will continue to 1.31 (fb67), even 1.33 (fb80). When price ever hit 1.33, a reversal might soon take place.

For shorter term play, first to watch out for short at 1.2690, SL 30 - 40 pips, TP 1.2480.
Long position can be at EMA200 of 4H chart, around 1.2460, or trendline at 1.2400.

p/s: Trading buddy, finally ripple got update, thanks for constant encouragement, haha. Had one winning and one losing trade in the past week, there's a big room for improvement.


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