Thealchemist's Blog

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New Trades

Hello Traders,
I hope you had a great weekend. The new trading week is almost starting. In less than 4 hours GMT time the Asian session is opening and new trades might present a chance for another bearish/bullish trends. I am still bullish on the EUR/USD and hence will open another buy position. Let me show you once more why. The momentum is rising again and the price broke the 10 and 50 day moving averages. As I mentioned earlier, I am aiming at the 200 day moving average which currently lies a…
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In the Money

Hello Traders,
Finally, my EUR USD trade went into the money. Now the target is the 200 MA (1.09). I have also opened another position. It is the USD CAD. Let me show you the arguments. You can that today's drop is significant (driving the momentum down). I believe the current momentum will persists in the near future. Let's hope a price of 1.30 would meet the target. If this is the case, we just need to wait and see what is going to happen. I should probably also say that the Open Interest for …
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Waiting

Hello Traders,
My Aud Usd trade was automatically closed down due to leverage. However, my EUR USD trade is still open and I have not changed my view for both of the pairs yet. Another interesting trade I am considering entering soon is the USD CAD. Let me show you my views. I am using the momentum here to indicate the losing of strength the bulls are currently exhibiting. Some of the traders might even recognize double or triple top but again I do not trade patterns. A break above the 1.36 is a…
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Gains Ahead

Hello Traders,
Let's hope for only we all had a great weekend for the new week has already promised new records. I am glad to confirm my new trade idea, as promised, to you. Apart from going long on the EUR USD, I am also considering entering into the GBP USD market. Let me show you what I have in mind. The pair is quite volatile and despite the pattern that many would recognize as bullish, I consider the downside potential of the pair instead. The 200 MA keeps the downward slope and lies curren…
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Buy EUR USD

Hello Traders,
I hope you had a profitable trading week. The week is over but the opportunities are far from over. I am looking at the EUR USD chart and spotting instant trading opportunity. Let me show you what I mean. The RSI 14 is rising above the 50 price level, is the first sign that the bulls are waking up. The MAs, 10 and 50 are also penetrated which adds another supportive argument. The ECB kept its rates unchanged which seems to me that traders, assuming all else equal, are discounting …
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New AUD USD Entry

Hello Traders,
As expected, the ECB kept the rates unchanged most likely due to the upcoming European elections. However, I did open a new short trade related to the AUD USD. Let me show you my arguments, All the MAs are broken at this moment. Some of you would even go further as saying a double top. I do not trade the technical patterns and therefore will restrain from mentioning them. The RSI 14 is also decreasing which also supports the current bearish trend. As I have mentioned earlier, I be…
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In the Money

Hello Traders,
I have decided to close down all the positions. The AUD USD & USD CAD both went in the money and resulted in 100 pips gain.
I am closing the positions in anticipation of the ECB interest rate decisions and press conference which are due tomorrow afternoon GMT time. I do not wish to bear any overnight risk at this moment, which can hurt my performance due to the volatility. Meanwhile, I would like to share an interesting chart with you about the GBP USD. You can see that the price …
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No New Information Just Yet

Hello Traders,
I have not placed any trades just yet. The markets seem quiet and I have no new information to discount at the moment. However, I still hold onto the idea that the AUD USD and USD CAD will decrease/increase in value accordingly. I am also following closely the price action around the EUR/USD. Let me show you further details. Currently, the situation quite resembles consolidation (in terms of technical analysis). However, I have checked the Open Interest for the pair and have seen …
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USD CAD

Hello Traders,
I just want to share with you a little update if you so please. I have opened another position. I am long the USD CAD. Let me show you my arguments. I am, quite aware of the fact that the RSI 14 is rising up and that all of the MAs are below the current price (bullish sign, the RSI not so much). I have also checked the open interest (futures) for the pair. There, I have seen that the OI is at it's highest since December 2016. It seems to me that traders are buying (or may be not?)…
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AUD/USD

Dear All,
It's been some time since my last trading (which was disastrous by the way). It's a brand new month and time for me to try to beat the markets again. During this period that is indeed quite questionable and bold but I remain optimist nevertheless. My first trade for this month is the AUD/USD. I am short the pair and expect a drop in the near future. Let me shed some more light on this matter. The daily chart shows an instant drop, dating back to the last Friday. In pure technical terms…
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