Particularly in the EUR/USD, GBP/JPY, GBP/USD and the USD/CAD.  I like the u/cad the best though.  Long wicks on the daily chart that form a nice triple to on the hourly with clean S/R levels.

What are you watching/trading today?

Here’s the chart:

Click to enlarge

I’m looking for profit below the area of consolidation we talked about this morning, so I may be holding onto this trade for a very long time.  I show Monthly support at 1.1790 or so.  So, my PT is 1.1810.  You might feel more comfortable with the secondary low inside the box at 1.1860 ish.  My SL is above the recent high at 1.2010.  That seems reasonable since the 1.20 area proved to be so highly psychological that the market may want to bounce around that area before deciding on a direction.

Let me know what you’re watching/trading!

____

Remember:  The purpose of these trade alerts and watchlists is to keep discussion going about what’s going on in the marketplace.  It is not my intention to have you trade what I trade, simply to tell you which trades I take that we’ve talked about at the WLWs.

In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.

Be good to you,
Triffany

Since I missed all the moves we talked about in yesterday’s WLW (the nested box trades and the Loonie climb (which has hit the 200% extension already).  I’m going to have to be patient for some new signals.

NZD/USD:  it has left its daily channel and I’m looking for a retest/bounce off of .6655 before I enter that one short, but if you got the break, good for you.  I’ll be targeting the width of the last consolidation area – .65 with a stop above the 2nd minor s/r zone (won’t know where that is until the bounce prints).

Honestly…that’s the only setup I really like right now.  Even my faves of late are leaving me feeling kind of yucky.  The bearishness of the risk pairs and the e/u & g/u haven’t happened with much enthusiasm (small bodies).

SO… that’s it for me, I guess.  What are you watching/trading?

In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.

Here’s what I’m watching today:

I’m still short the E/J, E/U, G/J and G/U all of which are divergent on the 1h chart, so if that plays out I’ll be getting in again on those southward bounces.

The Kiwi has had a nice pullback so I might get a second shot at the southward movement I missed yesterday.

That’s all I’m watching today, though the CAD/J and the U/J have both pulled back and are tightening up in sentiment as well.

Let me know what you’re watching/trading today.

Remember:  The purpose of these trade alerts and watchlists is to keep discussion going about what’s going on in the marketplace.  It is not my intention to have you trade what I trade, simply to tell you which trades I take that we’ve talked about at the WLWs.

In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.

—-

I’ve entered the E/U short on the 1h feedback candles.  My PT is 1.2150 and my SL is 1.2450.

Here’s the chart:

Click to enlarge

I’m still watching the E/J and the G/U for similar signals.  The N/U hasn’t closed below its box but when it does I’m in that one, too.

Remember:  The purpose of these trade alerts and watchlists is to keep discussion going about what’s going on in the marketplace.  It is not my intention to have you trade what I trade, simply to tell you which trades I take that we’ve talked about at the WLWs.

In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.

The CAD/JPY and the USD/JPY have just recently broken out of their tight little ranges and are testing the first area of support right now.  If you’re not already in those, that may make a good trade for today,  a bounce would be long, and a break would be further shorts.

Other than that…everything else seems ‘in progress’.

The EUR/USD and the EUR/JPY are almost to their secondary lows.  There may be a chance for some consolidation there later in the day, to take advantage of.

The GBP/USD and the GBP/JPY each have one more definitive leg to their secondary lows with the G/U having  just broken into that trading range with last hour’s candle close below 1.4770.

Even though I’m already long the U/CAD it has only continued to range, so that range is a good are of indecision to watch for its next movement.

Let me know what you’re watching/trading today.  It’s been great being in better touch with you.  I’m looking forward to more and more participation from everyone.

I’m going to see what I can do about getting a plugin that will alert you when someone has added a comment.  Thanks for letting me know about that.

Be good to you!
Triffany

The G/U broke its box as well.  Similarly we might get another poke at this one on a retracement to 1.52 or so.

E/J broke as well, on the 1h chart, I’ve entered that trade but will post it separately. 

G/CHF is still bouncing around the 4h 800sma.

U/J might be forming a double top on the daily chart and trying really heard to break support on the 1h.

N/U also broke its area of indecision.  I’m in that new trade, too and will post it separately.

Off to post those trades!  Let me know what you’re watching/trading.

I’ve updated my E/U and G/J trades on yesterday’s post, so if you’re interested in that, check it out.  That E/U just baaaarely hit the profit target.  How close was that?!  Yikes.

I’m at a loss for a good trade today though.  I did shorten my G/J analysis and am long again off of the bounce.

But other than that I don’t see anything I like.  The E/U and the G/U both made solid moves overnight so there’re no areas of indecision for me to setup a trade right now.

I kind of like the U/J, on the 4h.  It looks like it has pulled back enough to start triggering a bounce to the long side again, so I’ll watch for that.  Everything else just looks impulsive and goofy to me.

I’m watching the N/U on the Daily chart as well, because it has finally hit that daily TL and if it stays true to its trend may be trying to bounce southward.

Do you see anything you like?

Long E/U
PT 1.3415
SL  1.3275

Click to enlarge

and

Long G/J
PT 147.40
SL 143.85
(4h trade so skip/adapt if you don’t like the longer term stuff)

Click to enlarge

I’d love to hear what you’re watching/trading!! 

GBP/USD:  Left its consolidation area and has hit the 200% extension level.  Long wicks are showing possible signs of rejection of the next high and may give a small area of indecision to work off of .  This makes a new higher high for the pair (on the 1h chart) but I’m not sure it can hold on from a fundamental point of view.  Even if this pair turns around I can’t see it happening soon, so the pullback seems more likely to me (at least to setup an upside down H/S on the 4h).  Same can be said of the GBP/JPY

NZD/USD:  Has finally retested old support levels from the consolidation area that came near the 800sma on the 4h chart.  While it may be ready to go hit the 4h 800sma, it feels ready to retrace first…to about the .7090 area.

EUR/USD & USD/JPY (thusly the EUR/JPY as well):  Maybe a fresh breakout… I’ll have to wait and see what that looks like.

IF you’re trading what are you trading and watching?
IF you’re not, what are you looking for or expecting to happen after this week?

Let me know what’s on your mind and if you can join me at Noon EDT on FXStreet I’d love to see you there.