By Boon Hooi Wee on 15 Oct 2018 | Filed under Currency Pairs, DXY, EURUSD, GBPUSD, Gold, News | Comments
Although traders and investors are usually fearful of the month of October because of the market crashes in the past. Our recent trades has been good to us. Let’s have a look at of them.
GBPUSD H1 Chart – 7th October (Bearish Shark Pattern)
We went short on the pair at 1.3117, missed the target 1 at 1.3030 (+91pips) by only 4pips and the price reversed against us and hit our stop loss. Trade was a losing trade with (-49pips).
Gold H4 Chart – 9th October (Bullish Bat Pattern)
We went long on the Gold, this was in line with the risk off scenario in the stock market (click here to see earlier post). Entry price was at 1186.40, targets in the trade ideas positions were at 1192.31 (+59pips) and 1199.50 (+131pips). Both hit the targets within the next 2 days
GBPUSD D1 Chart – 12th October (Bearish Bat Pattern)
We looked to short at at the retest of 1.3231 at the point of posting. Price did indeed came up to trigger our entry price. Today market opened with another 40pips gap down. Currently running about +130 pips profits, targets at 1.3027 (+204pips).
Current trades which we are looking to take would be on:
EURUSD D1 Chart – posted on 12th Oct – (Bullish Shark Pattern)
Upon evaluating the pair, the chart is showing us a buy entry level around 1.1354 with an initial Stop Loss of 1.1220 (-134pips) and target profits of 1.1579 (+225pips) and 1.1756 (+402pips). Let’s monitor this trade together.
US Mid-term Elections – 6th Nov – Affect on the Dollar Index (DXY)
We shared our views of the US Mid term elections during our workshop with you in HCM and Danang. In summary, the outcome of the elections could strengthen or weaken the USD accordingly. Here are the levels the Dollar Index charts are pointing us to.
Buy zone at 89.80/90.15 and the Sell zone at 99.38/99.85
We will update these trades above in our Facebook Group – Forex100 Harmonic Sharing Room. Do follow us there.
In the mean time trade well and trade safe.
This is to wrap us the event “You and I Both Profit” that we have shared and if had attended the session in either Ho Chi Minh or Da Nang, kindly give us a review on our Facebook page.
*Note : The charts used here is just for price feed purposes, we do not have an account with FXCM.