Community
Blog
Daytrader21's Blog

Daytrader21's Blog

Avatar

GBP/CHF Double Bottom

Daytrader21 Posted 15 Feb. as Analysis on GBP/CHF, Target: 1.4736, Date: 1st of April, 12:00 GMT  in #Technical analysis #Support #Resistance #Crosses #Snb #GBP/CHF #Bottom
After SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes.
Figure 1. GBP/CHF Weekly chart.

Based on the Monthly chart we can spot a big double bottom that is ta…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

6 Comments
View 1 more comments
Daytrader21 avatar
Daytrader21 28 Feb.

Update 2: As expected the momentum continue to push higher and we're near our target. From here on I'm expecting a retracement based on Figure 1 we should see the market ranging between a wide range 1.4750 resistance zone and 1.4000 big round number and support zone

Daytrader21 avatar
Daytrader21 7 Mar.

Update 3: Unfortunately we broke above the key level 1.4750 but we still have to be patience and wait and see if there is any follow through to confirm this breakout.

Daytrader21 avatar
Daytrader21 14 Mar.

Update 4: This pair has broken outside my projection and we the momentum pushed this pair all the way up past the big round number 1.5000 and we had a strong rejection from there making a "v" shape top for now which should keep this pair under pressure in the coming weeks. Next week support stands at 1.4700 level.

Daytrader21 avatar
Daytrader21 21 Mar.

Update 5: As per my previous update I was right we indeed established a "v" shape top. Now we're big round number 1.4500 which should provide some support level for the time being. Next week we should see momentum start picking up.

Daytrader21 avatar
Daytrader21 28 Mar.

Update 6: After 2 weeks sell of this pair has finally found a bottom and we should expect previous week low to hold. So the 1.4200 level should act as support. If we manage to break above 1.4500 round number in the first days of the week there is a chance we'll hit our target

orto leave comments
Avatar

NZD Dollar Crosses

Daytrader21 Posted 23 Dec.  in #Trader's blog #Crosses #GBP/NZD #EUR/NZD
Today I want to take my time and give a full explanation for my last, two profitable trades, EUR/NZD and GBP/NZD. I took a long position in both of this pairs, Wednesday 18 December, in the morning before the Fed taper decision. For me this trade was more a kind of "synthetic" (not per se) trade. I was expecting NZD dollar to weaken and therefore I was looking in the crosses to maximize my profits as I knew they will be moving much more than NZD/USD.
[list][/list]…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

2 Comments
Metal_Mind avatar
Metal_Mind 24 Dec.

Yep you aced this one. Is preety hard to get a profitable trade on gbpnzd. It's volatility is a bless but it's spread a curse and might just came back and bite your account.

HOANG_MAI_NHI avatar
HOANG_MAI_NHI 27 Dec.

good job

orto leave comments
Avatar

GBPNZD Trading Crosses

Daytrader21 Posted 9 Dec.  in #Trader's blog #Trading #Nfp #Support #Resistance #Crosses #GBP/NZD
The crosses currency pairs can provide you some great trades as well as they tend to move quite a lot, and although this currency pairs may have a wider spread this can be offset by the fact that they trend in a daily range of 200p pips or even more. Cross currencies simply refer to currency pairs, or crosses, that do not involve the US Dollar. Trading in these pairs is often more difficult and riskier than trading major pairs, but as I said earlier you can make lots of pips trading them if you'…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

3 Comments
Metal_Mind avatar
Metal_Mind 14 Dec.

It is a great pair with a huge potential. The volatility in this pair is a double edge sharp sword that usuly slice your account in two if you take to much exposure. From my personal notes on live trading this pair i discovered that higher performance while trading this pair is to trade it on low volumes or for example 10 % max exposure .The fact that this pair can instantly rise 100 or even 200 pips in a 1 to 5 minute period very easily without major news involved makes it very dangerous to trade.What makes it profitable is a strict money management.

Metal_Mind avatar
Metal_Mind 14 Dec.

Large volumes traded in a run for short term large profits will get you bankrupt quickly.The most that you can profit of this pair is by trading it alot in smaller volumes, expusure. You will take smaller hits to your account but you will survive. This pair is not EUR/USD. !! This pair is not a pair you want to be bleeding......It ca jump 100 pips in 5 minutes against you and next hour another 200 pips against you. You had a bad trade ...Close it . Accept your loss and go further.I wrote from my personal live trading experience. My buddy Daytrader 21 can confirm it.

Metal_Mind avatar
Metal_Mind 14 Dec.

Good blog buddy !!! Very good!

orto leave comments