The pair touched 76.4% Fibonacci retracement level of 1.3391 to 1.2881 just and bounced for 50 pips now. I sell the pair at 1.3225 with Stop Loss around 1.3400 area and targeting it lower trendline around 1.2550 area. However, first support might be seen at 1.312x area near 50% Fibonacci level (see H1 chart). I'm not really sure if the pair has found its peak actually, but I have my Stop Loss. And I have to take risk right? :)
I closed the GBP/JPY position at 149.15 after it touch the lower channel on hourly chart. The pair broke the channel literally a few seconds after I closed it :P I quickly opened another position and closed it with 66 pips. So, it turned out that the second attempt to sell GBP/JPY ended well. As I mentioned in my previous post, the target can be more way down at 145.50 or 143.60 area. So I will look for 30 EMA signal on hourly chart to enter another short position.
It turned out that I was not done for this week :P I entered short on EUR/USD last night. The pair touched its channel resistance and has been moving sideways. I entered at 1.3478 with stop loss around 1.3520. 38.2% retracement is at 1.3382 which is 100% projection of A to B while 50% retracement (1.3340) is at the broken resistance. I pretty sure this is my last trade this week. I also look forward on how the market react after tonight news. That's all guys. I'll update later. Happy trading!
The pair bounced off the 50% Fibonacci retracement of 1.2481 to 1.3737 last week and still hold the support. Higher lows has been formed since then. I have made some trade with entries at the support trendline. Buy signal appears today based on the 30 EMA system on hourly chart. However, TP level will be higher this time. Instead of fixed target of 65 pips, I want to try 1.34 and hopefully will be done this week. Below is the screen shot.
I finally closed my EUR/USD at 1.3492, just around a hundred pips below my initial target at 1.3580. I know I should let it reach the target although it may not, but it is a 70% return to my account (949 pips). There is also a technical factor. The pair is at 30 EMA area on weekly chart and that means sell. Below is the EUR/USD weekly chart.
I still have GBP/USD open. The pair closed above 30 EMA on daily chart and seems promising to continue its way up. Okay that is it. Hope you guys also banked some pips in last night movement after the news. Happy trading guys!
On the last trading day this week, I gain 131 pips from GJ from a position I opened on the previous day. Actually I mistyped the TP by 10 pips and I should have got out from the trade earlier. Fortunately, the pair tested the support again on Friday and reach the target.
There was a long signal actually before the pair drop until the broken channel (green yellow channel), but I ignored it because I noticed that UK interest rate was going to be announced later that day. I also ignored a signal on Tuesday because it was near the upper channel, which turned out to be a good signal :( Since the uptrend starts on Friday last week, I also miss a signal because my broker still in holiday.
I close EU with 64 pips also on Friday. I closed it manually after I decided to end the week. The pair went bearish after I closed my position and reach my stop loss level. So I was lucky I guess. In addition, I will look for EU short signals next week.
Another EU trade went well. I entered Thursday morning (Jakarta) at 30 EMA as follow up on my previous cut loss. I was a bit emotional when I entered actually. I entered after I saw the price touched the 30 EMA and a bounce was in progress. The pair did bounced for about 30 pips from my entry price, but it went back down testing the support. You can see on the chart below that the Gann indicator was shifted above the candle and 5,13 EMA crossed down 21 EMA (red arrows). I was worried actually ;P but my stop loss still quite far below. The euro finally appreciated against dollar in Europe session. I closed the position near 38.2% Fibo level at 150 pips. QQE also crossed, which can be use as exit signal in sideway market. I never so attracted to this pair before and I only trade this pair once in a while. Maybe because this pair gave me around 300 pips in the past week :P Well, I will certainly looking for another signal in this pair. I'll see wheter this pair tooks more than it gives... Hopefully the other way around.
I enter short EU on 7 January morning Indonesian time at 30 EMA. The pair turned on bullish after going down until 1.3433, about 90 pips from my entry price. My target was 1.3380. I decided to cut loss even my stop loss was not broken yet because of the 5,13,21 EMA crossover and QQE cross 50 level. I exit after the price move closer to my entry point so the loss was not too big, which was 51 pips. 
I also entered long on GJ at 30 EMA. Entry point and stop loss shown in the chart below. The uptrend has been going for 4 days actually and a trend change is very possible. However I kept entering because the channel was already broken. In addition, my previous analysis on H4 and daily chart supported my decision. It was a nice trade actually. The pair test the previous high again immediatly. My exit also shown in the chart below.
EU daily candle closed above 30 EMA shown in the chart below (blue circle). It turned out that the moving average provided some support for yesterday. Today, the pair still trying to break it with movement already reach 50% Fibo retracement (yellow Fibo) of 1.2328 to 1.4718. I wonder if the pair can closed above the 30 EMA again. Okay, just wanna update yesterday's post. I'll post GJ chart update later OK! Happy trading guys.. :)
I trade EU today at the following signal shown in the picture below. I forgot to put the limit order actually, but I enter near the 30 EMA after the price touched the 30 EMA. I set my target at the previous low which is 51 pips with Stop Loss level around 1.3985/95.
On H4 chart, the pair has break the 38.2% Fibo retracement level (yellow Fibo) and almost reach the first target at 50% retracement (yellow Fibo) 1.2328 to 1.4718. On daily chart, the price cross below 30 EMA at the moment and we'll see if the 30 EMA can provides strong support. The weekly chart suggests that the down trend has resumed after price touched 50% Fibo retracement (red Fibo) of 1.6037 to 1.2328.
GJ find its support at the last trading day this week. I drew a channel on H4 (green lines) and H1 (red lines). On 1 hour chart, it seems that it broke the trendline, but we'll if the pair open above it tomorrow. On 4 hour chart, the support line from two previous lows has been respected and give an opportunity to trade with better risk/reward ratio (targeting upper channel & SL below lower channel). Below are the charts.
Thats all for Head Start session. See you next week :)EU retraced today after reached 61.8% retracement of 1.6037 to 1.2328. The price even stay below 30 EMA on the weekly chart at the moment. Below is EU weekly chart.
My EU position hit SL at 200 pips. After 50 pips bounce from 50%, it continued to break the 50% level. Actually, I used to cut loss if the price breaks 61.8% retracement, but in monthly/weekly chart it means that the range will be huge and I totally forgot about this. Next resistance is at 61.8% retracement level. If the price closed below 50% on monthly chart, I may enter another short :). So I will check it again next year.
Below is EU monthly weekly chart. EU retrace from 1.2328 low reach 50% of 1.6037 to 1.2328. On weekly chart, price is near 34 EMA. Target for downside is the previous low. I entered at 1.4110. I intend to hold this position until target. Who knows guys. It's seems like a good opportunity ;P
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