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Thread: Tembr's trading journal

  1. #1
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    Tembr's trading journal

    box - einstein 250x250
    Hello to everyone, in this thread I will share my trading forecasts))

    So, AUDUSD:
    The Australian dollar rallied during the day on Thursday, breaking higher and at one point above the 200-day exponential moving average. I believe that if we can break above the top of the candle for the session on Thursday, the market should then reach towards the 0.76 handle above, which will be resistive. Ultimately, the gold markets should continue to dictate where we go, and they look as if they are trying to find buyers recently. If we can break above the top of the shooting star from Monday, the market should continue to go higher, perhaps reaching towards the 0.7750 level above.


    This is a market that will be volatile, so I am a bit hesitant to put too much money to work, but I think that the buyers are starting to make a bit of a statement as the 61.8% Fibonacci retracement had caused enough interest by longer-term traders to get involved. Nonetheless, this is going to be very volatile and difficult to trade.

  2. Under 1st Post -dynamo
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    Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.0746.

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    Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.2772 or 1.2739.

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    Short entry after bearish price action on the H1 time frame following the next touch of 1.0000.
    Long entry after bullish price action on the H1 time frame following the next touch of 0.9941.

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    This pair has continued to move up strongly for another consecutive day and is looking increasingly interesting. It is now approaching a very crucial resistance level which is confluent with both a long-term bearish trend line and a large psychologically important round number at 1.3500, so the upwards movement could reverse here, but short traders should be very cautious as there is a lot of pressure on the Canadian Dollar as the price of Crude Oil weakens.

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    The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

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    There is no long-term trend, so this pair seems suitable for short-term trading with conservative targets off the nearby key price levels.

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    There is nothing due today regarding the AUD. Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.

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    The price has been bullish over the past 3 months and seems to be building a long-term bullish trend.

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    dynamo - First and lasp post every thread AXITrader aff
    There is a lot of market focus and volatility here, and the pair approaches a crucial time later with the Bank of Japan giving a monthly report. This means that unusual movements are possible, but overall the pair looks bullish above the old descending channel.

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