Thread: Week 21 Trade Signals

Good morning all!

Rare monday signal.

Have taken partial profit for NZDJPY.

Now looking at a short of NZDUSD based on daily chart setup.

NZDUSD Daily Chart



I see a regret and a subsequent retest of resistance

Want a safer way of entry?

Upon inspection of the H4 chart, I spotted an upsloping trendline which when broken can enhance our confidence to do a sell order.



A trendline breaks enhances our confidence of a short

I put my stop 15 pips above 0.8 where I believe there will be plenty of sellers.

Potentially a swing of 580 pips.

Are you ready?

Apologies

I was out of town last weekend. Will be tabulating the results for week 20 by tonight.

Thanks for understand and lets hope our week starts amazingly!

Looking at NZDJPY for a short.

NZDJPY Day chart



Bull trap??

NZDJPY H4 Chart



Green zone have to be cleared before the bear come out from their slumber!

Day chart showing a potential bull trap going on and NZDJPY retest a strong support turn resistance zone before coming down. Looking at the H4 chart, price have to clear the green zone for any short opportunity. Alternatively, you can wait for a retest to the green zone before shorting this pair.

SL: 80 pips

TP: about 200 pips for the first one and 400 pips for the swing to the land of fib extension 161.8.

Good luck everyone!!

70 signals and counting!
Have been a rough month for us at ForexGump.
Good thing May is coming to an end.
Winning streaks and losing streaks appearing right in front of your eyes!
We are no different from ordinary traders, what separates us from the rest is the willingness to share no matter when we are up or down.

Back to the signal.
Spotted a potential long for GBPCHF.
I like the setup but I have to warn that this is a counter trend trade with huge risk.
Do control your position size well if you want to take this trade.

GBPCHF H4



I like how the profit taking zone forms a confluence with horizontal resistance zones

If this trade works out well, it will erase all the failed trades the last 2 weeks.

All is takes is 1 trade to regain your confidence in trading.

Never give up and keep trying!

Spotted a low risk long for AUDJPY.

Price currently still trapped in a triangle chart pattern.

Queued to long at strong support and expecting triangle chart pattern to break.

Alternatively, we can do a long when price breaks out of triangle pattern in the H4 chart though the risk is increased to about 160 pips.

AUDJPY H4


Wait patiently to buy at strong support

Even if price fail to break out of triangle pattern, it is a 90 pips swing from green support zone.

Most JPY pairs are currently resting at critical resistance, which is why it is wise to wait to buy only when price retest support.

Potentially a swing of 300 over pips.

Week is coming to an end, good luck everyone!

EURUSD retraces to strong resistance.

Potential Short Signal coming.

EURUSD H4



Great short setup in EURUSD

2 ways to enter it:

1. Short anywhere in yellow zone(High risk high reward)

2. Short when upsloping trendline breaks.(Low risk, huge stop loss)

Potential swing of 300 pips.

Do look out!

This week was a little special.

Even though it is reported as a losing week, I actually caught alot of scalps and was profitable.

If you have been following us, you know we always make the right calls but are often too optimistic that scalps can turn into swings.

A total of 7 signals this week with 3 JPY pairs still open for run next week.

Results based on 4 signals which has been opened and closed.

#68 NZDUSD +0

#69 NZDJPY -80

#70 GBPCHF Untriggered

#73 EURUSD +0

#68 NZDUSD +0


Could have pocketed 70 pips if you are a scalper

I have every reason to go for a short as I am generally a trend follower. If you are a scalper, you would have been happy making 60-80 pips based on this signal. For the swing traders, you would have gotten away unharmed.

#69 NZDJPY -80



Was in profit of about -30 pips before price went back up

Same as the above. Trend follow but trend has finally changed in my opinion. Will be looking to long at any throwback to support next week.

#70 GBPCHF Untriggered



Untriggered trade

Pointed out 2 ways of trading. If you are a gambler, you might have been killed when price broke below drawn zone. If you take the safe approach, you would have been safe.

#73 EURUSD +0



Was an easy 90 pips scalp. I pocketed 50 pips only though.

Went into scalp mode after previous trades all made me no profit though the call was right. Locked in 50 pips after it hit a profit of 70 pips.

When swings are not doing well, capture scalps

Of course, I did not mention that this trade can be taken as a scalp, therefore, result is recorded as we broke even.

Summary

3 weeks of bumpy ride, are you guys still floating?

When the market trend is unclear, 2 options are available.

1. Trade Less or don’t trade.(Easier said than done)

2. Scalp instead of hoping every single trade turns into a swing.

Coming to week 22, the trend is pretty much clear. Will be looking to go long on most USD and JPY denominated pairs upon throwback to support.

Do continue to stay with us @ ForexGump!