Trade Ideas & Chart Analysis Disclaimer: The below analysis should not be considered as considered financial advice or a recommendation to trade or invest in any financial product. Your individual circumstances and risk allowance have not been taken into consideration and are thus not reflected in the below analysis. The below is for educational purposes only. Read our full Risk warning and disclaimer here.
Analysis for January 11th to January 15th
All scenarios are based on 'IF/THEN' scenarios that the Bindal FX traders map out and use whether it be on swing trades shown below, or intraday trades used in the Bindal FX LIVE room every day. If the price does not map out to the plan, we simply move on and look for a new opportunity rather than trying to 'manufacture' a position - to learn more about how to join our LIVE Trading Broadcasts and LIVE Trading Webinars email email@example.com
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FX Pair: AUDUSD
Short Term Trend: Bullish/Range
Key Support: 0.7640
Key Resistance: 0.7820
AUDUSD is currently on a real bullish run and has been after breaking out of the consolidation at the start of November. Bias for this chart is still currently very bullish, so the primary trade idea is shown as scenario 1.
Price is holding well above the Bindal FX Dynamic Green Pivot line and whilst it holds above here I am happy to focus on the long side only.
I will be looking for a move above the Bindal FX Trigger and Ribbon followed by a 123 pullback before I look to enter longs.
Over the last 72 hours price has put in a double top and a Lower high, as you can see the Bindal Momentum Indicator B1 has just turned Red, which is the first warning sign for potential shorts - Whilst as mentioned above the primary scenario and higher time frame trend is heavily bullish, IF the Bindal FX Dynamic Green Pivot breaks decisively, I will be looking for a retest from the underside (support turn resistance) and providing this holds price below, Scenario 2 for shorts would become active.
FX Pair: GBPUSD
Short Term Trend: Range
Key Support: 0.7640
Key Resistance: 0.7820
GBPUSD overall has been moving up steadily since the start of November, but over that last 2 weeks has found it quite tough to make significant new highs.
We've seen a real slow week this week, a consolidation week, and whilst we've had some flat bottoms, you can see below there have been a series of Lower Highs.
Whilst in the Medium term we still expect GBPUSD to move up with a view to attacking the double top at 1.4380, in the Short Term there is a real chance of a pullback to lower prices, with the Bindal Momentum Indicator showing fully Red. Bindal FX will be looking for a break clean below the Green Pivot and the current lows to create a new Lower low before retesting the green pivot as resistance before looking for Shorts. Patience is important here because a fake out move is possible before continuing on the bullish run, so the 123 retest is important.
The alternate scenario is if GBPUSD wakes up from its slumber and we break above the resistance, then quite simply we are looking for a continuation to the bullish run with a 123 pullback after the break of the down trendline.
Short Term Trend: Bearish Break
Key Support: 1820; 1765; 1670
Key Resistance: 1960; 1906; 1880
Gold experienced a sharp sell-off, an Intraday move that members benefitted from in the live room with a short scenario given on the 7th January that fired nicely.
After rallying sharply in December, price found very strong resistance at old highs at 1960 this week which let to the sell off.
Given the sharp nature of the fall, we will be patiently waiting for a retracement to identified resistance before looking for a Short entry. The current scenario would be a pullback to yellow pivot which holds as resistance, before looking for a final entry opportunity on the short side as shown below.
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