Hi there, my name is Ivan, FX trader. After studying varies sources of information for the past few years, my understanding of the FX market has improved dramatically, with this blog simply intending to share with you all a journey within my mind. When I make it to full-time trading, I know the first person I should be grateful to is an Aussie PA trader named Jonathon; He has been inspirational and an enormours influence to gauge where the money flows to. His trades can be followed at http://forexpriceactiontrader.blogspot.com/ . What price is telling you is key, as it always whispers in low or high intensity what market intentions are. I do not endorse the use of any indicators, as they are lagging in nature; analysis should be based on pure price action. Besides, other factors like sentiment, fundamentals, risk control, rock-solid discipline, thousands of hours readings charts, also make up the equation to succesfully ride the FX waves. When entry triggers are detected, I act without hesitation, letting the market do its thing. Please note, information and opinions contained in this blog are for educational purposes only and do not constitute trading recommendations, thus will not take responisbility for any losses viewers may have. Trading FX carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. You should not invest money that you cannot afford to lose.







Monday, 14 February 2011

SHORT AUD/USD and EUR/CAD


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4 comments:

  1. michaels14 February 2011 at 16:20

    Hi Ivan..l would be interested to read your thoughts behind these trades, as they didn't jump out at me and l am wondering what l am missing in the set-ups. Thanks and best of luck!

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  2. Shawn14 February 2011 at 19:22

    Bearish engulfing bar in AUD, so is the EURCAD. Interesting cos I am currently long in AUD on the basis of daily bullish rejection off 1.0000.

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  3. ivan14 February 2011 at 20:02

    1- EUR/CAD = I sometimes trade IB when combined with PB. I waited for price to break 1.3400, other wise I would have gone right into support, now that support is ressitance, I am more confident despite price has reversed back up (expected), but see how now we have old support acting as resistance. Only risk is that my stop is quite tight. Another stretegy, safer perhaps, would have been stay on the sidelines and see what price does around this area of resistance...

    2- AUD/USD = Just be focus on the H4. We had an impulsive wave south after a double top, so from the H4 chart I play with momentum in my favour.. then I see price retracing and right at 50% we get a BEOB. I analyze and I see that once FTA a 1.0020 gets pirced my be worth risking 1%...

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  4. michaels15 February 2011 at 04:14

    Thanks both! Yep l should have checked the weekly on the EURCAD more closely...now monitoring a BEOB on the 4hr...1.3350 seems to be significant R.
    Yep also see the logic on the AUD 4hr now.Could well be good...my own caution comes from the parity line being strong R and a long standing upward channel line...but by the same token it could herald a big drop.

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