Daily Technical Analysis: 16/2/18

[xthuy]

Thank You For Your Support and Up Vote for Me!

My Personal Trading Plan

(Method on trading order: Retest or break trend line)
EURUSD: SELL@ 1.25344 ; [email protected]; TP1@ 1.24844
AUDUSD: BUY limit @ 0.79423 ; [email protected]; TP1@ 0.79923
EURJPY: BUY @132.718; [email protected] ; TP1@ 133.218, [email protected]
GBPJPY: BUY @149.590; [email protected]; TP@ 150.090
NZDUSD: SELL @0.74184; [email protected] ; TP@ 0.73747

THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS. YOU SHOULD CONSIDER BEFORE JOINING.

NOTE:

Rules help protect your profits!
How do you make a stable income when joining the forex market?

Comments

[lifestonetrading]

Interesting analysis. How do you find your support & resistance levels?

[xthuy]

Thanks for your question! My trading signals are based on several factors, support & resistance level is one of them. Finding them out is quite simple.
For example: NZDUSD (NU)
Look at the D1 chart: I draw a horizontal line to determine the resistance. Pay attention to where I mark the yellow.

Because of I am a Day trader so I look at the H4 chart:

H4 chart:

Look at these chart, you can see how I get the resistance and the support level!
However, if there are some other references, the resistance and the support level will be more reliable.

[xthuy]

Results:

Win: EU, NU
LOST: AU, EJ, GJ
Summary: WIN + 12 pips :)))