Engulfing Aussie

Aussie is closing the day with a huge engulfing candle. Tried to stay above 0.8500 but only momentarily. Either for the lack of oxygen on this peak or because of reluctance to march into an abyss of remaining 15 cents (to reach a parity with the greenback), the day close is not glorious.

7:20 PM EST. Short is covered @0.8425.

Support and resistance visualized

Regardless of the currency pair, S/R game is played anywhere (sorry for unintended rhyme). What else can be smoother and telling than a trendline on this picture? Just place a stop above the trendline and sleep well. This is my demo (1 live mini-lot) game with the aud/cad pair. I have no idea what kind of fundamentals from both sides are competing, both currencies are commodity-tied but my task is wait for the outcome of this tug-of-war. Good luck.

EUR/CHF

I am closing this pair with a loss of 20 pips.

7:00 am EST. Yes, of course, just as you take the loss the Market turns around and makes fun of you. If you held the long, you did great.

Closing 2nd usd/jpy short at 122.95.

Just for fun

New demo trade (1 mini-lot) - short aud/cad @0.9060. SL - 0.9123. TP - 0.9008.

yen again

Opened new main trade - short usd/jpy @123.60. SL - 124.46. There are some erratic movements of the pair near 124.00 and maybe the market hesitates if it has enough fuel to run for 125.00. Good luck.

9:00 pm EST. 1 lot closed at 123.36. Price is halted at the trendline. + 24 pips.

Update on demo trades

There were so many things happening this morning and I was tormented between placing my trades and updating the blog. Anyway, here is an update on demo trades:

1). closed short usd/jpy at 123.45. Plus 50 pips.
2). Still keep long usd/chf.

Good luck.

Aussie

Aussie is traded close to its psychological level 0.8500. I opened a new main trade - short aussie at 0.8480, 1 lot.

Watched cable in the early morning hours with the same intention but missed it. If you are short cable, stay short.