Spreadbetting FX using TA

[SH-101]

Out of the trade at break-even.

 

[SH-101]

Out of the trade at break-even.

Or to be more precise, a 0.05% loss as a result of one day's rollover.

So that's three trades in the books so far this month, somewhat below average. In truth there have been other opportunities that I've missed due to over-cautiousness and/or laziness, but I have no time for woulda-coulda-shoulda :whistling

Trades so far this month:

AUD/JPY for -0.13%
AUD/USD for +8.24%
GBP/JPY for -0.05%

Total so far is +8.06% for the month. Not quite at my monthly target yet, so back to work... 🙂

 

[SH-101]

Some general market observations:

I'd be tempted to get long AUDUSD around current levels, but I don't think there is sufficient support.

EURGBP is sitting in a good cluster of support levels. I'm mulling over the possibility of getting long at the moment.

USDJPY looks bullish to me, but the recent price action is a bit too messy for my tastes.

 

[SH-101]

Order placed to buy EUR/GBP at 0.8963 offered. If-done stop 0.8923 bid, if-done limit 0.9023 bid.

Only risking 2.5% on this one. I have a nagging doubt about the strength of the technical setup, but I do like the support area. If the trade turns out to be a winner I hit my target for the month, if it turns out to be a loser I'll still only be one winner away from reaching my monthly target, as I am now.

 

[SH-101]

EUR/GBP order deleted as the market breaks the previous low around 0.8929.

AUD/USD has traded into a decent support area and is showing some early potential for a long.

 

[SH-101]

Order placed to buy AUD/USD at 0.9221 offered. If-done stop 0.9174 bid, if-done limit 0.9295 bid

 

[SH-101]

AUD/USD order filled.

Attached screenshots show an upwardly trending market as per 20ema and 60sma on 4h and daily charts. Also shown is fibonacci and trendline support.

The 1-hour chart shows bullish hidden divergence on MACD(12/26/9) and CCI(50).

 

[SH-101]

Stopped out of AUD/USD for a 5.01% loss.

That knocks me back to a gain of 3.05% for the month. However I have to honestly say I am trading like a bit of a muppet at the moment 🙂lol🙂 so I'm glad to still be just one winner away from reaching my monthly target!

 

[SH-101]

General lack of clear signals at the moment! I've been looking at a potential AUD/USD long and/or USD/CAD short from near current levels but the setups aren't quite right and I have the feeling that both would constitute "chasing" trades so staying flat for now 😴

 

[SH-101]

Just noticed this last spike down on EUR/GBP which has pushed the market into a good support area.

Order placed to buy at 0.8932 offered, if-done stop 0.8880 bid, if-done limit 0.9020 bid.

 

[SH-101]

Order filled on EUR/GBP.

The screenshots below show the usual fayre - 20ema and 60sma crosse3d up and sloping up on the monthly chart. They are crossed up and flat on the weekly but we have the additional confirmation of a rising MACD, crossed above zero, sloping up and above its signal line. We can also see support from a key fib level and the 100-day SMA.

We have bullish hidden divergence on the daily chart, and bullish regular divergence on both 4h and 1h charts.

 

[SH-101]

EUR/GBP trade is progressing nicely this afternoon - stop to breakeven.

 

[SH-101]

Out of bed a little late this morning but just in time to see my limit/target hit on EUR/GBP :cheesy:

From 5% initial risk, this trade produced a final gain of 8.37% after one day's rollover, and takes my total gains for the month to 11.42%, meaning I've now hit my target for the month.

That's not to say I've finished trading - if a good setup comes along I'll trade it - but I am conscious of the fact that I'm lucky to have hit my targets this month because my own personal performance has been poor, so I might be a little extra choosy over any setups that appear between now and the start of next month.

 

[SH-101]

Order placed to buy AUD/USD at 0.9180 offered. If-done limit 9132 bid, if-done stop 9262 bid.

Last day of the month, hope I don't end up regretting this one 😆

 

[SH-101]

AUD/USD order amended - now buy at 9178, stop 9126, limit 9265.

 

[SH-101]

I've also put in an order to short cable at 1.5113 bid, if-done stop 1.5194 offered, if-done limit 1.4958 offered.

One potential dollar long and one potential dollar short - I'll either be very right, very wrong, or half right and half wrong. With good r/r that's two possible profitable outcomes and one possible losing outcome, so we shall see... 😱

 

[SH-101]

AUD/USD order filled. Cable order will be left in, unless price breaks through the previous high around 1.5187.

 

[SH-101]

Cable order deleted.

 

[SH-101]

The AUD/USD setup saw the daily 20ema crossed above the 60sma, with both sloping up. They were also crossed up on the 4hr chart, but the 60sma was sloping down. Additional confirmation can be seen in a CCI(50) oscillator, crossed above zero for a number of bars.

We can see bullish hidden divergence in RSI(14) and CCI(14) oscillators on the 1hr chart, which actually also evolved into a small bullish regular divergence as well.

The 4hr chart shows price testing an area of previous resistance to see if it will now hold as potential support - combined with a key fib level, with the 20ema also effectively acting as support.

 

[SH-101]

Stop to break-even on AUD/USD, a trade that's taking it's time a little! 🙂