Weekend Planning
This weekend after looking at the charts i have decided to trade four currency pairs under the following conditions.
EUR/USD
COT data suggest that the currency is begining to slow inch its way up.My trading set-up for this curency is to wait until the 4hourly charts shows a pullback from the uptrend and try and enter the market at around 13447(or when macd suggest re-comencement of the uptrend) with a profit target of 13769 where i suspect heavy resistance (looking at daily charts).
AUD/USD
Weekly,Daily charts show the likelyhood of a downtrend.wait for 4hourly stochastics to signal downtrend(this might be around tuesday evening or wednesday morning).
GBP/JPY
Looks set for a shorting opportunity on both daily and 4hourly chart (both stochastics and MACD).
This weekend after looking at the charts i have decided to trade four currency pairs under the following conditions.
EUR/USD
COT data suggest that the currency is begining to slow inch its way up.My trading set-up for this curency is to wait until the 4hourly charts shows a pullback from the uptrend and try and enter the market at around 13447(or when macd suggest re-comencement of the uptrend) with a profit target of 13769 where i suspect heavy resistance (looking at daily charts).
AUD/USD
Weekly,Daily charts show the likelyhood of a downtrend.wait for 4hourly stochastics to signal downtrend(this might be around tuesday evening or wednesday morning).
GBP/JPY
Looks set for a shorting opportunity on both daily and 4hourly chart (both stochastics and MACD).
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