We are IN the Money (GBP/CHF)

GBP/CHF UPDATE:

 

USD/CAD UPDATE:

Is the End of the Uptrend Here?

usdcad_april_30

The USD/CAD is actually another example of a Boomerang Set-up, though in this case counter-trend.

We teach our novice students to focus on With the Trend trades, so please use discretion when considering a reversal type of trade. One of the benefits of reversals can be that there is a lot of open space for price to “fall” back down through.

In this case, you could execute a sell and use a Weekly level as your target. By taking  a look at the Weekly chart, you can see how easy it would be for price to fall back to the 1.06 area because there is very little traffic in the way and the Risk/Reward ratio is very appealing with this type of trade:

usd_cad_april_30_2

 

 

 AUD/USD Update:

Ready to Buy?

audusd_april_30
The AUD/USD is in a GREAT uptrend recently and every pullback has brought Higher Highs… So who is ready to buy again?

A basic STRIKE entry here should be high probability and great R/R!

Once again, zooming out to the weekly chart shows there is definitely room for continuation:

april_30_audusd_2

 

 

That’s it for today’s look! Thoughts and comments welcome!

 

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  • Bruce M

    Sorry for the late answer Petrache. Yes I did – thank you. I closed the position at 1.4872. I am not always that timely.

  • Clement

    @petrache:disqus That’s a nice advice and accurate. Though, I didn’t see your comment until my SL was hit @ 1.4805, after it has gone up to 1.48799. However, I hail your accuracy!

  • Petrache

    Hi again. Did you follow my advice? You had today 3 opportunities .

  • Bruce M

    Below (long) post is on the GBP/CHF trade – forgot to mention and sorry for the length.

  • Bruce M

    Not a member but I do read Natucci’s blog. Last Thursday in my live acct I put in a buy limit at 1.4775 GTC and watched it trade quietly around 1.48. On Tuesday, I placed an order in my practice account to buy at 1.4795 and got filled. I have moved stop to 1.4805, (same as Natucci’s) and profit target is 1.5225, above the high of the channel, but within the channel as we ford through this market. The Live order I missed a fill by 5 pips on the buy side (so about 8-9 pips with the spread) at about 4:30 am EST on early Tuesday morning. Happens often to me!!! I deleted that GTC order today. I would not want a retracement back to that level again with my order still live. So I am IN the money on my Paper Trade Acct. on your trade Nathan. I will admit I couldn’t see any of the numbers on your charts and on my iPhone 5s I was unable to expand or widen the charts, so I applied what I know and you can see the above are the result as to the entries, stops, targets and such. Unfortunately, I have no live trade but was very close to a nice trade and I take my paper trades very seriously so I am doing just fine. Your thought process, logic, knowledge and ability to present your findings and ideas without having to sound like you are the Forex Messiah is refreshing. Thanks for the idea.

  • Petrache

    Hi, according to my system, GBPCHF is in correction on W1 TF. I suggest you to scale out at 1.4880 and BE.