Pound trade offered good risk reward l closed all at 1.3980

Hi Readers,

Usd/canadian dollar trade is still looking for a direction and tested 1.2430 area twice and made a high of 1.2490 but I would like to remind you about the last trade of Gbp/usd where I went long around 1.3810 area & took first profit around 1.3888 where I closed half & now I am closing all the positions around 1.3970.

Take a look at the post here Gbp/usd long trade

Total profit of 170 pips with a 35 pips stop is good enough trade specially when lot happening around at the start of new year.

Moving ahead for next trade of gbp/chf

I have posted chart of gbp/chf for your reference and recent rally looking good as it is carrying momentun but has not really went in complete control due to weakness of usd/chf.

I will post an update soon if price start reacting at 1.3310-40 area.

Forex trading oppprtunities & price action analysis of usd/cad

 Forex trading is all about opportunities but it does not stands for every oppprtunity should come our way or we need to keep looking for the opportunities day in and day out.

This is a self destructing antanomy that more we stick to the charts, more versed and more profits we make. If you ask me about how I go about forex trading as a novice, then there is no better place to get the answer but yourself.  Forex trading is so addictive that we get involved in it & that is the big reason for failures.

Also Read -How to look for top down analysis from weekly to day trading timeframes.

I just look to see sessions that are strong & carry momentum for strong breakouts but fall short of their targets. Usually institutions & banks use to manipulate traders who joined later to open trades but they most likely set pending orders when Price revist such area. Take a look at the chart below showing you a prime example & justifying my words.

Also watch :- Where to look for price action trades.

Daily time frame is good area to watch as I told in my previous post.  I agree to some that trend is strongly down on daily & weekly but h4 is mixed to bullish & several attempts to keep the downtrend intact has diminished & area of 1.2450-60 is strong s/r flip both sides but as Friday move was powerful and price is holding higher levels. I would recommend pending buy orders.

Buy @ 1.2460
Stop @ 1.2425
Target Ist 1.2560
Second 1.2640

Pound set to test the highs above 1.3800 stops around 1.3775

Pound set to test the highs around 1.3920
Pending buy order 1.3810
STOPS 1.3775
Target Ist 1.3920
Second 1.4010
Price action has been quite subdued and every bullish reaction in us sessions stalls at higher highs & Expecting this higher low to hold 1.3810 area

Price Action Zones defines price action and Eur/jpy trade update

It has been a good risk reward reward trade which clicks at the retest immediately @ 133.96.
Take a look at the post here

Wait for chart update little longer.
Seems to be little problem with google servers. Will post an update soon & for trade alert I would recommend trailing entry at 133.66.

How to define PA zones in a flag Forex Trading strategies

Its has quite fascinated to see pound rallies to the target. Now new trade opportunity awaiting and with a very good risk reward. But we need to see how Price action unfolds around 134.00 area.

Price has been in range of a flag and that area is quite a strong S/R flip & now if price manage to continue the rally towards the 133.00 area, then we probably will set a pending sell order at 133.96 & stop around 134.16 & profit should be 132.30 leaving you with 10 times Risk Reward.
Update of eur/jpy h4 chart.
Entry exact pip 133.96
Already 4 times reward at 133.08