Updates on trades taken in July

GBPJPY Long: Trade in play.

GBPJPY Short: Trade in play. Price currently at 172.501, and looks all set to hit 172.288 target level, moving stops to BE. New long positions from here will add more strength to the previous long trade idea posted.

NZDUSD Short: Trade closed. Entry was at 0.8698 with a profit of 208 Pips and this was a few hours before the RBNZ interest rate hike release.

NZDUSD - Short Trade Result

There was also a short on NZDJPY targeting 86.9 selling at 88.4, this gave a very decent 1.5 Pips (or about 150 pips).

EURCAD Short: Trade waiting to be triggered.

EURUSD: Price has started its rally so waiting for the short orders to be triggered.

GBPAUD: Trade is continuing to play out. Will make a fresh update on this.

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EURCAD Renko Analysis - Long term short position

Pending Sell order at 1.448, targeting 1.1.373 with stops at 1.473.

Risk: 250 pips
Profits: 750 pips

Trade could possibly play out until end of the year

Update on trades in June

EURCAD: Original post here recommending short positions at 1.4964 and 1.50405 targeting 1.45809.

EURCAD - Trade Result

Conclusion: Price reached the target in a continued down trend. (383.1 Pips + Positive Overnight swaps)

USDJPY: Original post here, recommending a short position based on a Head&Shoulders pattern.

USDJPY - Trade Result (In Play)

Conclusion: First short level was not reached at 103.050. Second short trade is in play from 101.745, targeting 100.005.

AUDJPY: Retracement failed. But we'll keep the idea open for a while.

AUDJPY - Trade Failed to trigger

CADJPY: This trade idea was originally posted in May with an entry price of 93.808 and the target revised to 95.6 in the follow up idea in June.

CADJPY - Trade Result

Conclusion: Price hit the target as expected. (1.792 Pips + Positive Overnight swaps)

GBPAUD: This trade has been in play since May. A short position was recommended at 1.82005, targeting a revised target of 1.7642. Price is currently at 1.80379 and move position to break even, making this risk free + positive overnight swaps being collected.

GBPAUD - Trade in play

Conclusion: Trade is in play with stops at Break even. Profit potential 558.5 pips

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EURCAD Renko Analysis - Short

EURCAD Renko Chart, Head & Shoulders Pattern

A minor head and shoulders was formed with a retracement from 150% now taking place. There are two possible entries.

• Entry #1 at 1.4964, which marks the support/resistance level previously
• Entry #2 at 1.50405 which is exactly the distance between 200% and 100% (So it should form 2 retracement bricks).

Stops would come in at 1.51937

P.S: That EURAUD short decision to take profit at H&S target was sweet. Price kissed the level and retraced quite strongly.