FX Position Traders

[raygunaraj]

Weekly candles hint a consolidation over the next 2-3 weeks.
A move towards 1.04/1.038 would present a good Long opportunity...
targeting a 5th wave towards 1.12

Aud/Usd Weekly

[raygunaraj]

the Aussie bounce today is the strongest so far this year
going with the flow for now...

Long 1.0720
S.L 1.0660
open objective

4H- Previous Trendline Res now Sup?


S.L. moved to B.E. to eliminate risk.

[raygunaraj]

Wild swings on Aud/Usd has stopped me out once again.
Will be looking to Enter at a better price soon (near 1.07 or 20 DMA)

[scratchfx]

Nice thread

[raygunaraj]

hi scratchfx, glad you enjoyed it.
keep following for updates & feel free
to share your thoughts too.

[raygunaraj]

Monday's price action is most likely muted with the NY markets closed for long weekend.
Will be watching price action over the next few sessions from the sidelines...

Watch List: Usd/Jpy, Aud/Usd

Current Active Position: Eur/Chf Long

[raygunaraj]

Implications are for another push lower towards 1.2040/1.2035 which would complete the (ABC) wave 2 decline from Feb 8th high. From there, look for 3rd Impulse to propel the Eur/Chf up.
the levels mentioned above could be a good zone to add longs.look for confirmation with a bounce of RSI from the 40 mark.

Eur/Chf - 4 Hour chart

a daily close below1.2030 or if RSI stays below the 40 mark, this outlook would be invalidated.

[raygunaraj]

Medium Term - Bullish
Long Term - Bearish
I will approach my trades holding on to this bias till proven wrong
I last wrote about Eur/Usd on the 24th January. The levels are still the same.
Weekly Chart

preferred Strategy: Sell between 1.38/1.40 with an initial target @ 1.188