My last trade with the Nzd/Usd Worked out well, the price did not meet my target but I ended up getting out of the trade at +78 pips which I am happy with. remember to follow me on twitter for trade updates. I like to jump out of the gates with some good trades at the start of the month and I was able to accomplish that. Now the key is to keep momentum going for the rest of the month.
Here is the journal entries.
I am going to be starting out the week looking at mainly two trades. The Gbp/Usd and the Usd/Chf look as they both could change direction soon and when they do I think we should go along for the ride.
Here is my outlook on the Gbp/Usd
I currently see resistance a the .764 Fibonacci retracement level on the daily chart. Look for the trend line to be broken on the daily chart for more losses. If the .764 gets broken to the upside we could see the price move all the way to 1.5500 price area.
Now my immediate trade that I will be waiting to see if I can find an entry.
Now the 1Hr Chart which is where I find my entry.
Winner’s Edge Trading, as seen on: