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Gav's trading blog - Perseverance, Consistency, Confidence

Trading Journal

$NZDUSD 15 Feb 2011

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NZDUSD is currently trading in an interesting zone. We have a bullish harmonic formation and the confluence of key support levels, and daily rising trend line. If a bounce from here happens, I have two possible scenarios. 1st is a pull back and then continuation of  bearish symmetrical movement (Refer to the yellow lines). 2nd possibility is to complete the bigger Bullish harmonic formation which will see NZDUSD back testing daily downward sloping trend line.

A couple of potential trading opportunities here. Let’s see how it goes.

Here is the…. CHART!

$NZDUSD Bullish Harmonic setup

Key Levels for week 14 Feb 2011

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Here are the pairs and the key levels that I’ll be watching for the coming week. These are basically support and resistance levels. Since I am mostly trading off 4-hour charts, I am only posting charts of this time frame here.

Have a great trading week ahead!

[tab: GOLD]

GOLD Key levels

[tab: AUDUSD]

AUDUSD Key Levels

[tab: EURGBP]

EURGBP Key Levels

[tab: EURUSD]

EURUSD Key Levels

[tab: GBPUSD]

GBPUSD Key levels

[tab: NZDUSD]

NZDUSD Key Levels

[tab: USDCAD]

USDCAD Key Levels

[tab: USDCHF]

USDCHF Key Levels

Key Levels to watch Week 07 Feb 2011

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I am testing a new idea, so for limited time, I am posting key levels of some major pairs that I am trading frequently. These are basically support and resistance levels. If any of my 12 readers finds these to be useful, shoot me a comment, we’ll see what we can do with these.

I am trading mainly off 4-hour chart, so only 4-hr charts are posted here.

[tab:  EURUSD]

[tab: GBPUSD]

[tab: AUDUSD]

[tab: NZDUSD]

[tab: USDCHF]

[tab: USDJPY]

[tab: GBPJPY]

$USDJPY 01 Feb 2011

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This is one of the swing trades that I am working on. USDJPY is back to 82 zone, in which I see some decent supports in this area. And with the 61.8% retracement from the last swing leg, I am looking at the potential completion of ABCD formation around/above 84 levels. Well, I might be over ambitious, but who knows?

Here is the….. CHART!

$USDJPY Bullish Harmonic setup

$EURGBP 24 Jan 2011

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I have been looking at this chart since last Friday. Starting from 0.8540 will trigger my short.  However, there’s also a possibility of running into 86 level where another bearish harmonic setup is formed. In short, currently, I am looking at the zone that contains confluence of bearish harmonic pattern, Fib levels and price resistance level.

Let’s see how it goes.

[tab: Original Setup 24 Jan 2011]

Here is the….CHART!

$EURGBP Bearish Harmonic Setup

[tab: Update 25 Jan 2011]

After the weaker than expected British GDP data, EURGBP pierced through the reversal zone. The setup is now invalidated/failed/whatever you wanna call. Time to move on, and look for next opportunity.

Here is the updated… CHART!

EURGBP Bearish Harmonic setup

$AUDCAD 19 Jan 2011

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Slow start for the week. I did not find too many interesting setups at the early of the week. Anyway, who is looking at $AUDCAD? I thought we have some interesting bearish harmonic setups here.  I am looking at short opportunity here. It is not too difficult to see the confluence of fib levels, Channel bands, and price resistance at current level. Well, and the little ABCD formation into the zone is just another sweetener. Let’s see how it goes.

[tab: Initial setup 19 Jan 2011]

No guarantee of success, but a window for me to enter the market.

Here is the….CHART!

$AUDCAD Bearish Harmonic setup

[tab: Update 21 Jan 2011]

The weakness of CAD bothered me a bit initially, and this setup was working out slowly. Good news is, it works, and it works out nicely. Two-day work (or waiting) for over 100 pips of profit, I can’t complaint. Anyway, AUDCAD is now back to the lower channel band,  I have taken majority of my position out, and leaving a small position to ride towards 0.97, well if it ever reached there, who knows?

I am pretty much done for the week, still have a couple of setups are developing, let’s see what brings on during Friday session. Otherwise, Have a nice weekend ahead!

Here is the updated CHART!

Updated AUDCAD Bearish harmonic setup