Market analysis, insights and trading ideas on various markets and products!

Following up from my massive shorts last week, I continued to add more positions as the market moved in my favour, accumulating a large position as I waited patiently for the market to move in my predicted direction.

Today, after the market dropped 135 pips, we started reaping some profits from our positions, and adjusted our stops to lock in profits, while allowing our positions to run further for maximum profits.

This is the previous link:
https://synapsetrading.com/singapore-forex-trading-audusd-the-crucial-weekly-pattern/

I am glad we managed to make profits on this trade by helping one another in the Synapse Network, and having the discipline to stick to the setups learnt in the course.

For those who signed up for the December course, I hope this will help you cover back part of your course fees even before you attend the course. Cheers!

 

2013-10-26 07.54.37

2013-10-29 16.13.40

This is the weekly chart of the AUD/USD chart, and price has pulled back nicely to test the key resistance level. This is a crucial pattern on the weekly chart, and I feel that it is a good opportunity for a long-term short, so I have taken my first short position here.

I will continue to watch and monitor for more chances to add on shorts. I will elaborate more this evening during the sharing session. All are welcome to join :]

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2013-10-24 05.08.57

The EUR/USD has been pretty quiet for the past few days, hovering near the previous high and awaiting the delayed NFP.

I was monitoring it on the M15 timeframe, and although I missed the initial strong breakout, I waited patiently for a pullback which netted  a quick $520 USD  profit over the next few hours.

For my exit, I used the T=T profit-taking method to catch the end of the trending move. This coincided perfectly with the short-term top.

With such a strong move, it is likely for the momentum to carry on for the next few days. I will be watching for opportunities either way.

eurusd 221013

In the last workshop and market outlook seminar, we had a chance to briefly touch on the US markets, and within seconds I was able to decipher the direction based on price behavior.

This was also partly the reason why I took my profits on the EUR/USD and Gold shorts as mentioned a few posts back; true enough there was a sudden plunge in the USD, affecting all the majors, and causing the EUR/USD and Gold to spike up.

This looks poised to carry on pushing up to test the prior swing high, with a one-bar flag in the middle of the equilibrium range. I will be following up on this during the next market outlook seminar.

^dji 181013

Where will the US markets head next? And how will this affect the local markets?
I will be sharing my latest analysis here: https://www.eventbrite.sg/event/8521073761

Following up from the workshop on Monday, and the calls we posted in the synapse forum, we have been making short trades in and out to build up our capital base.

As mentioned, we are bearish on the EUR/USD and Gold, taking multiple short positions and scaling in & out using the intraday charts. This is the most efficient way to build up more capital for our stock trades when the market re-opens tomorrow after the holiday.

As you can see, most of the profits have already been locked in for EUR/USD and Gold, we have saved a small portion of the holdings for our long-term bearish position, but we feel that it would be prudent to lock in most profits before 17th Oct where we foresee large volatility across all markets.

eurusd

2013-10-15 19.11.58

2013-10-15 19.10.40

2013-10-16 05.05.38