Trade Ideas 3 June 2015

By | June 3, 2015

The following are my views for the day ahead. I check the charts before the London session to get a feel for which direction the market may be moving. I then wait for triggers to setup in my planned direction. I usually don’t take all the trades. 

  1. GBPUSD, long to 1.54, start of channel down
  2. EURCAD, could break higher to 1.396 or 1.403, since daily bar is huge. Or can form inside bar and retrace to 1.378 or 1.3725
  3. EURUSD, Breakout pullback buy, given the strength of the move. Maybe some sideways first tmr, before breakout. Targets 1.225 and 1.34
  4. USDJPY daily outside bar, should find TR support at 123.75 and bounce higher to 124.5
  5. USDCAD likely more downside to 1.231 to cover the open of the daily breakout bar with no tail on 26 may. Less possible to find support at 3 pushes low because it is a powerful move that broke 3 pushes low. Likely Breakout PB lower setup tmr.
  6. EURJPY could be daily inside bar, could break higher to 139.566, 140.35. POSS exhaustion daily bar, (best looking at bar at end of trend), sideways probably.
  7. GBPJPY, could break upside 194.78, but need strong signal. Could break lower too, as it is 2 legs to top of TR (unless on the way down, there is strong HL bullish signal stopping the decline, indicating POSS BO). Downside target 189.5
  8. AUDJPY upside target of 96.87
  9. AUDUSD likely to move higher to 0.7825 (open price of daily BO bar). Maybe will find support at 0.775 first
  10. EURAUD some sideways is neccessary for further breakout because of bearish 4H doji. Finding support at 1.436. Likely to move higher to 1.444 region (top of TR, then PB a little, find strong buyers, then breakout)

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