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June 20

GBP/NZD – BEARISH ENGULFING PATTERN

PCA04864 Posted 1 Dec. in #Trader's blog

It seems that today, a strong trend-turning figure is clearly being drawn on the daily chart in this currency pair, after a bullish rally from 1.7400 levels.
Specifically, it is a bearish engulfing pattern:
If today closed below 1.94800 we would have confirmation of this change in trend.

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EUR / AUD - Primary channel

PCA04864 Posted 14 Nov. in #Trader's blog

In yesterday's failed prediction we saw how the currency pair drilled the secondary channel without major problem. It is normal in trading, sometimes you win and another you lose. You have to assume that, and learn from mistakes. Although this is more easily assimilated when we have good risk management, both the distance of the stops and the size of our position. When our trading plan is optimal, it is normal to recover what was lost in one or two days at the most. And sometimes, after our los…

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EUR / AUD - testing upper channel area

PCA04864 Posted 13 Nov. in #Trader's blog

As you can see in this currency pair, a channel has been formed pivoting around the 62% Fibonacci retracement line in the last three weeks, which has worked very well with both resistance and support at the base of the channel.
For the first time since November 3, it seems that the upper part of the channel is going to be tested as resistance, so it is most likely that there will be a turn close to 1.5310 level, to return to 1.5215 prices, and see if a new impulse is produced, or the correction…

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