Forex Pairs Analysis

prabhanshuraman · Oct 3, 2015

Hi,
New to this T2W forum but not to trading in forex, equities and commodities. I am starting this thread to put all my analysis for any pair as and when i find it out.

My all analysis are for positional trades.

Wish me good luck

prabhanshuraman · Oct 3, 2015

GBPUSD Day Chart Analysis

If we see GBPUSD day chart, we can observe that day RSI is making +ve divergence along with stoch has triggered up. The only caution is MACD is not yet triggered and in -ve zone which makes any new long positions to trade with caution.
Coming to harmonic patterns, if the recent low of 1.5105 is saved, then we can see good upmove (targets of this long positions are given in chart).

02Oct15-GBPUSD-Day%2BChart-Bearish%2BShark.jpg

NVP · Oct 3, 2015

That's a lot of indicators thrown at the chart P.......too many or are you happy with it ?

prabhanshuraman · Oct 3, 2015

NVP said:
That's a lot of indicators thrown at the chart P.......too many or are you happy with it ?

NVP, i am used to it and believe me..they are still less. What matters for me is getting 1 trade opportunity with high probability of success.

I believe only on one thing in my analysis " let it hit my stop or target". I am still happy if my stop is hit...it will keep me in the game by saving my trading capital...!

NVP · Oct 4, 2015

Don't you find in reality some of these indicators,are,saying the same thing all the time ?......have you enough breadth in the indicators ?

N

foed · Oct 4, 2015

RSI and Stochastics show almost the same thing, aren't they?

NVP · Oct 4, 2015

foed said:
RSI and Stochastics show almost the same thing, aren't they?

I'm just saying that some indicators are very close in nature and it may be better to use indicators that give more independent conformation of signals

Just my thoughts .....no disrespect to system intended

N

tomorton · Oct 4, 2015

NVP said:
I'm just saying that some indicators are very close in nature and it may be better to use indicators that give more independent conformation of signals

Just my thoughts .....no disrespect to system intended

N

Agreeing with this.

In fact, a long here makes equal sense as a range trade based on May-September price action only, using no indicators.

prabhanshuraman · Oct 4, 2015

tomorton said:
Agreeing with this.

In fact, a long here makes equal sense as a range trade based on May-September price action only, using no indicators.

per my understanding, no indicators can give standalone signals for buy, sell or sideways...they must be used as supporting factor for the main study.
In the given chart, main study is bearish shark pattern which gave 1 signal of completing leg BC and made higher highs after probable point C. Now bullish CD leg may unfold and to support this arguement, one can take help of indicators.

prabhanshuraman · Oct 5, 2015

prabhanshuraman said:
If we see GBPUSD day chart, we can observe that day RSI is making +ve divergence along with stoch has triggered up. The only caution is MACD is not yet triggered and in -ve zone which makes any new long positions to trade with caution.
Coming to harmonic patterns, if the recent low of 1.5105 is saved, then we can see good upmove (targets of this long positions are given in chart).

GBPUSD pair is moving as per expectation till now and made high of 1.52182

NVP · Oct 5, 2015

prabhanshuraman said:
GBPUSD pair is moving as per expectation till now and made high of 1.52182

Yep nice bounce

prabhanshuraman · Oct 6, 2015

prabhanshuraman said:
If we see GBPUSD day chart, we can observe that day RSI is making +ve divergence along with stoch has triggered up. The only caution is MACD is not yet triggered and in -ve zone which makes any new long positions to trade with caution.
Coming to harmonic patterns, if the recent low of 1.5105 is saved, then we can see good upmove (targets of this long positions are given in chart).

Longs was suggested in GBPUSD pair at 1.5180. Prices gave us too many chances to enter in this trade. Current price of this pair is 1.5237 and high made till now is 1.5242.
One can part book profit here and will enter again in long positions.
Net profit = 57 pips

NVP · Oct 7, 2015

Hey P

What level,of stops,are you,using ?

prabhanshuraman · Oct 7, 2015

NVP said:
Hey P

What level,of stops,are you,using ?

depends based on which signal i took trade. If resistance breakout then supports as stop on 1hr (or timeframe in which trade triggered) candle close. If waves, then initiation point and then part book - reenter - stop all based on fibo. if based on patterns, then its respective stop calculations..

prabhanshuraman · Oct 7, 2015

GBPSUSD pair may have done 5 waves upside from 1.51361 till 1.52569 with -ve divergence in RSI.
One can take less risk trade (if fully booked in longs which suggest earlier).

Take shorts at cmp 1.52547, Stop 1.52570, tgts 1.52, 1.51965, 1.51822

Will update charts later

prabhanshuraman · Oct 7, 2015

prabhanshuraman said:
GBPSUSD pair may have done 5 waves upside from 1.51361 till 1.52569 with -ve divergence in RSI.
One can take less risk trade (if fully booked in longs which suggest earlier).

Take shorts at cmp 1.52547, Stop 1.52570, tgts 1.52, 1.51965, 1.51822

Will update charts later

too furious....stop hit in secs:-0

prabhanshuraman · Oct 7, 2015

prabhanshuraman said:
Longs was suggested in GBPUSD pair at 1.5180. Prices gave us too many chances to enter in this trade. Current price of this pair is 1.5237 and high made till now is 1.5242.
One can part book profit here and will enter again in long positions.
Net profit = 57 pips

GBPUSD pair made high of 1.53391. Met with 1st tgt of 1.53. Now looking for 2nd and 3rd tgt.

foed · Oct 8, 2015

NVP said:
I'm just saying that some indicators are very close in nature and it may be better to use indicators that give more independent conformation of signals

Just my thoughts .....no disrespect to system intended

N

I wasnt trying to be mean or something. Just asking

Have a nice day

prabhanshuraman · Oct 12, 2015

AUDUSD Chart analysis

AUDUSD is forming rising wedge pattern and broke down below 0.73683.

One can initiate short trade:
Sell at - current price: 0.73606.
Stop - 0.73800
Tgt 1 - 0.73450
Tgt 2 - 0.72983

12Oct15-AUDUSD-60%2BMins%2B-%2BRising%2BWedge.jpg

prabhanshuraman · Oct 13, 2015

prabhanshuraman said:
AUDUSD is forming rising wedge pattern and broke down below 0.73683.

One can initiate short trade:
Sell at - current price: 0.73606.
Stop - 0.73800
Tgt 1 - 0.73450
Tgt 2 - 0.72983

Bingo.....1st tgt done :clap::clap:
low made 0.73359, current price 0.73367
part book and bring stop to cost for remaining

Forex Pairs Analysis

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