You Are The Worst dot Com

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Hey folks! Haven’t been around lately nor have there been any solid setups to post up lately.  The market still seems to be in disarray and there simply aren’t many strong trending pairs out there.  So, i’m taking this time to test out strategies and such on longer time frames, thus in essence, it’ll be like investing instead of trading really since a position could be open for months.

A great setup I am spotting at the moment is the AUD/JPY pair as it is beautifully bouncing off its 200-day SMA and the last time it did this, it bounced up for 2000+ pips within a two months span last year.   Thus, i’ll be looking to enter this trade on the Daily charts with a breakout of the downward range going on.

Here are the charts so you can see what i’m jabbering about:

Weekly Setup Chart:

Daily Trigger Chart:

With regards to my previous position on EUR/AUD, it basically broke out and then came crashing back resulting to my break even stop loss.  No harm done!

March Trading Results:

March 13 - AUD/CHF - +120 pips
March 13 - EUR/AUD - +120 pips
March 12 - EUR/USD - +92 pips
March 5 - EUR/GBP - +34 pips

Total Pips for February = +366

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Very very slow week and month but I managed to enter a trade today after the EUR news occurred and the position is currently up +117 pips.  I will be aiming for the full projection as per the previous swing and stop loss has been set to break even.  The great aspect of this trade is that it has broken out of its previous double top highs with a round number for support.

Here is the trade taken on the 4-Hour chart:

Alternatively, one could also enter the position right now as the pull back is occurring nicely on the 4 hour chart back to the support of the flat top triangle.

Here it is zoomed into the 1-hour time frame:

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I am currently interested in 3 setups that I am eying at the moment and I haven’t taken any trades in a long while due to the see-saw action going on in the markets.  It seems to be calming down now as indicated by the Volatility index (^VXD) being in the low 20’s.

Here is the current setups that I am looking to capitalize upon and if you’ve noticed, all three consist of an Aussie dollar within the pair:

EUR/AUD, 4 Hour Setup

AUD/JPY, 4 Hour Setup 

AUD/CHF, 4 Hour Setup 

Similarly, the CAD pairs are showing strong trendy strength especially in the EUR/CAD and CAD/JPY pairs however I am currently not looking at these due to a major news being released today.

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