$AUDUSD Box sell trade idea, back to close the gap!

$AUDUSD Box sell trade idea, back to close the gap!

Back after a short break with a sell idea on the $AUDUSD. If price gets rejected by the previous support that may now be resistance, then it may well move down an try and close the gap left over the weekend. The target has been set at the bottom of this gap. This trade also plays into a longer term $AUDUSD trend line short that you can read about here

http://thetrendliner.wordpress.com/2013/09/25/audusd-target-trendliner-trade-400-pips/

$USDCAD Divergence trade closes for a 36 pip winner!

$USDCAD Divergence trade closes for a 36 pip winner!

This week’s Box trade on the $USDCAD has closed out a winner. The divergence we saw between price making a higher high in the Box, but the Wallaby stochastic failing to follow through, opened a short trade as price closed below the Box. The stop loss level of the Box remained in tact and price movement went on to reflect the sentiment of that original divergence signal. The end result was a nice 36 pips of profit.

Divergent Box trade idea on $AUDJPY

Divergent Box trade idea on $AUDJPY

Continuing the divergence theme, we are looking for a bounce out of this support area on the $AUDJPY. If price makes a lower low in the Box, but the multi time frame stochastic indicator makes a higher low (ie we see divergence) then on a valid exit from the Box, a long trade will be taken. Profit Lock is set to 10 pips once 40 have been made. No divergence – no trade!