Hi guys,
Trades went well this week. I have taken profit on all my trades.
The Dax made some monster gains however I believe cable and GBPJPY are looking a bit weak at the moment so I decided to take profit on those. Overall, some nice gains but no open positions at the moment.
Hope your trading went as well!
The Trainee Speculator
Tuesday 27 May 2014
Wednesday 21 May 2014
Long GBPUSD and GBPJPY
Hi guys
I bought GBPUSD and GBPJPY a couple of days ago.
GBPUSD had reached the trendline and so that was a good area to get long. That trendline has held many times and so it provides solid support for buying. As you can see, GBPUSD has made some good gains so far.
As I had written in a previous post, GBPJPY had been consolidating in a triangle pattern and that I was expecting a breakout soon. However, it looks like it has now transitioned to a rectangular range and so a breakout should still be anticipated in either direction. But for now, I have bought it at the bottom of the range and will be looking to take profit at the top.
Good luck and happy trading!
The Trainee Speculator
I bought GBPUSD and GBPJPY a couple of days ago.
GBPUSD had reached the trendline and so that was a good area to get long. That trendline has held many times and so it provides solid support for buying. As you can see, GBPUSD has made some good gains so far.
As I had written in a previous post, GBPJPY had been consolidating in a triangle pattern and that I was expecting a breakout soon. However, it looks like it has now transitioned to a rectangular range and so a breakout should still be anticipated in either direction. But for now, I have bought it at the bottom of the range and will be looking to take profit at the top.
Good luck and happy trading!
The Trainee Speculator
Long DAX after breakout
Hi guys
So I talked about last time that the DAX had broken out of the inverse head and shoulders pattern and that I would be looking to get long on a pullback. Now is the time. Price has retraced back to the neckline and is now finding support. Buying pressure is coming in and I believe that it will go higher. I have bought it with my stop loss below the previous low.
Good luck guys and happy trading.
The Trainee Speculator
So I talked about last time that the DAX had broken out of the inverse head and shoulders pattern and that I would be looking to get long on a pullback. Now is the time. Price has retraced back to the neckline and is now finding support. Buying pressure is coming in and I believe that it will go higher. I have bought it with my stop loss below the previous low.
Good luck guys and happy trading.
The Trainee Speculator
Tuesday 13 May 2014
DAX finally has a breakout
So the breakout that I have been waiting for has finally happened. I have taken profit on my last trade and I will be looking to go long again on a pullback.
Good luck with your trading!
The Trainee Speculator
Good luck with your trading!
The Trainee Speculator
Wednesday 7 May 2014
Bought DAX and GBPJPY
Hi guys
So I haven't posted anything the last few days because I've been waiting for a breakout in DAX and GBPJPY. That breakout hasn't come yet but it probably will by the end of the week.
However, I did decide to put a trade on. Perhaps I could have been a little more patient but I felt confident enough that we will most likely see a breakout to the upside. Technically, I feel that there is more buying power at the bottoms than there is selling power at the top.
Charts below:
So I haven't posted anything the last few days because I've been waiting for a breakout in DAX and GBPJPY. That breakout hasn't come yet but it probably will by the end of the week.
However, I did decide to put a trade on. Perhaps I could have been a little more patient but I felt confident enough that we will most likely see a breakout to the upside. Technically, I feel that there is more buying power at the bottoms than there is selling power at the top.
Charts below:
That's it for now. Keep an eye on the charts over the next couple of days. Expect a lot of movement!
Good luck and happy trading.
The Trainee Speculator
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