Just thought I would post a chart here. This is a text book style support-resistance setup. Trade the obvious?
Have a look at larger time frame to set your bias. This setup might be provide you a good entry.
GBPUSD trade the obvious?
headline post
A small writing project : “Combine”
Combine: a harvesting machine that heads, threshes, and cleans grain while moving over a field
I am planning to write a series of blog posts to list out each elements that I use in my trading. While I am not sure how long will it take me to write all into blog posts, I will try my best. I see some benefits of doing this:
- Refresh and review of my memory and understanding of key concepts
- Sharing and receiving comments from readers who might be more experience than I do in some areas, so, I can learn from them.
- Putting my “mind-map” into words for review and correction.
From time to time, some questions such as, “Do I really understand this concept?”, “Is this the most efficient way of working/analyzing?” pop out in my mind. I think by spending some time to actually write down as a blog post might reveal the possible incompetence of my own, and provide me a chance to correct them. Again, this is going to take time, hopefully, time and energy permit, there will be no big delays between posts. And another important note is, I am not trying to act as an expert here, I am still learning, always do, so, just take it as reading the learning journal of a trader.
Anyway, here are some topics in my mind:
- Volume profile
- Auction Theory, Acceptance and Rejections
- Volume profiling and Levels
- Order Flow analysis
- Tools: Charting setup, DOM and Number Bars (Footprint chart)
- Put it together
I might add in more topics later. Hopefully, this small project will unfold into something helpful and interesting. If you are interested in following this project, the best way is to sign up the Free Trading ideas & Email Updates at the sidebar or simply follow this link.
That’s it for now. The first post of Project Combine is coming soon..stay tuned.
Good trading.
FX charts Week 27 Jan 2014
Here are some spot FX charts to start the week. Do shoot me a comment if you have any question.
Merry Christmas & Happy New Year
Wish all my 13 readers a blessed Christmas and a very Happy New Year.
Enjoy your well deserved break, and here’s to a super profitable 2014 ahead!
*I made a small change to the post title, I think it is important to recognize that we are having days off to celebrate Christmas. Instead of using the meaningless “Happy Holidays”, let’s wish everybody Merry Christmas!
FX charts for week 21 Oct 2013
While my main focus is in Futures trading, I am still keep an eye on spot FX for swing trading ideas. Just thought I would share some FX charts which I am watching.
I hope these charts help. You can always click on the charts to view in original size.
AUDUSD:
Still looking at buy on dips.
EURUSD:
Looking to buy at dips
USDCHF
Looking at potential short around 0.9120
GBPAUD
Looking at potential short around 1.7030
Weekly Review of spot GOLD (XAUUSD) 16 AUG 2013
Here is the quick chart review of spot GOLD XAUUSD. You can also find last week’s chart review here.
The best way to understand the movement is to look at the charts in multiple time frame. The charts basically explain everything. I will just try to give brief descriptions.
On Thursday, Gold broke away from resistance level 1347.83, the immediate target is seen at 1392/98.
Here is the Daily Chart with key levels marked.
Looking into 4-hour time frame, we can find some details about the price movement. Last week, we saw the break of down trend line, and also the resistance level around 1316.22. The best opportunity,and more conservative way to enter a long trade is to wait for the pull back to the broken resistance level. As shown in the chart, price respected the level 1316.22, and made another run to the upside after retesting the level.
Here is the 4-hour chart with key levels marked.
Here is the H1 charts with more detailed trend lines. I won’t go into too much details about the trend lines, probably in other posts. Just to show that there are trading opportunities around the identified support and resistance levels.
That’s it. Just a quick chart review. Hope it helps or at least, the lines did not confuse you.
From the desk of TraderGav.com
RSS Feed migration: Just a quick reminder to those who subscribed to RSS feed of this site prior JULY 2013. I will be switching off Feedburner email delivery this weekend. You should be receiving an email to inform you about new email subscription (via Aweber).
As always,for new visitors, to stay updated with me, please sign up for the free update at the sidebar.
