Current and Upcoming Forex Trades – May 29

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Current and Upcoming Forex Trades – May 29

Lots of trades on the radar right now –here is a sampling of a few I am already in, and some others I am waiting for.

GBPNZD

The GBPNZD is bucking up against a strong resistance level and providing potential short entry, especially with the false upside breakout earlier today.

Watch the spread on this one, it can be bigger. Also, the trade is going against current momentum, which is up. But that momentum has slowed considerably in this area. The is basically a 50/50 probability, but the reward is greater than the risk (as always), so I am taking it.

I am short near the top of the range at 1.9742, with a stop near 1.9785, and a target near the bottom of the consolidation at 1.96719. Trade should last about a day. Reward to risk is 1.6:1.

Figure 1. GBPNZD – 4 Hour (blue dashed=entry, yellow dashed=stop and target)

EURCHF

This trade has a similar setup to the trade above, but in reverse; we had a false breakout lower today out of a consolidation within an uptrend.

I am long near the low of that consolidation at 1.2208. Stop at 1.21976 and a target at 1.22256. Looking for a move back toward the top of the consolidation. Reward to risk is 1.6: 1. This trade should last about a day.

Figure 2. EURCHF – 4 Hour Chart (blue dashed=entry, yellow dashed=stop and target)

AUDUSD

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A sharp move higher yesterday has set up a potential long trade.

The price moved higher off of a strong support level, which should provide a nice long trade if it pulls back.

Looking for a pullback to 0.9238 (or close to it) with a stop below the recent low at 0.92056 and a target at 0.92898.

If the price continues higher, I am also watching for a short trade in the vicinity of 0.9356, with a stop loss at 0.9380 and targets at 0.93176, 0.92936 and 0.92696. This trade is based on the downward sloping trendline and the valley floor trading approach.

Figure 3. AUDUSD – 4 Hour Chart (littered with entries, stops and especially targets)

CADJPY

Here is another that is getting close to an entry point. Currently my order to go short is at 93.85, with a stop at 91.14 and a target at 93.386 (reward to risk 1.6:1).

Another way to trade this one is to wait for the price to drop below the prior low and sell on a pullback higher. This will provide a bit more confirmation that the current up move is out of steam.

The risk right now is that current momentum is up. I am willing to take the short though because this is a strong resistance area, and the recent move lower was enough to signify the start of an overall short-term down move.

I also have an order to buy down below at 92.88. This is based on the rising lows of the triangle type pattern we are in.

Figure 4. CADJPY 4-Hour Chart (Again, littered with entries, stops and targets)

Final Word

These are based on personal strategies which are implemented in about 20 forex pairs. There this is a sampling of current/upcoming trades. As I have indicated in many of my articles, I prefer to take lots of valid signals, that way if some lose the others are likely to cover those losses and produce a profit as well. Therefore, these trade ideas are meant to provide an idea of the trades I am currently looking at, as well provide you with some strategy concepts, so you can come up with more of your own trade ideas/strategies.

These are not recommendations to buy or sell, and are for information purposes only.

MT4 News Calendar Indicator

  • Post # 822
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  • Sep 25, 2020 8:49am Sep 25, 2020 8:49am
  • Post # 824
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  • Oct 9, 2020 8:38am Oct 9, 2020 8:38am
  • Post # 826
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  • Oct 11, 2020 1:00pm Oct 11, 2020 1:00pm

its there anyway we can get this in MT5? Just asking, thank you for your concern if you entertain this text.

MT4 News Calendar Indicator

Useful but don’t work!

“NewsCal-v107 EURUSD,M15: executable file is corrupted. Please recompile it.” So we need the code.

Later edit: I found version 1.0 on 4shared site and works.

  • Post # 82
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  • Apr 23, 2020 12:38am Apr 23, 2020 12:38am
  • Post # 83
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  • Apr 23, 2020 1:17am Apr 23, 2020 1:17am
  • Post # 84
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  • Apr 23, 2020 11:47am Apr 23, 2020 11:47am

this indicator put a vertical line at eash news/speak?

  • Post # 85
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  • Apr 23, 2020 1:52pm Apr 23, 2020 1:52pm

It only has the current week’s events.

I’ve updated the current version in post 1. It’s just a minor bug fix.

  • Post # 86
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  • Apr 23, 2020 1:53pm Apr 23, 2020 1:53pm
  • Post # 87
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  • Apr 23, 2020 2:03pm Apr 23, 2020 2:03pm
  • Post # 88
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  • Apr 25, 2020 5:47am Apr 25, 2020 5:47am

Thank you for thr great efforts made here.

initial test is great. will keep an eye on it.

parameters are clear, concise and practical.

  • Post # 89
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  • Apr 26, 2020 9:57am Apr 26, 2020 9:57am
  • Post # 90
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  • Apr 30, 2020 5:59am Apr 30, 2020 5:59am

A great help for us MT4 platform users!

  • Post # 91
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  • May 20, 2020 4:30pm May 20, 2020 4:30pm

did forex factory change their new feed or something today?

it just stopped working for me a few hours ago, mid session. the breaking news is stuck on the last one that it worked for (fed’s evans: Fed could keep rates low. ) and the calendar says “no further matching events” even though there are lots lined up tomorrow.

suddenly realised how reliant on this i’ve become, thanks for an awesome indicator!

  • Post # 92
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  • May 21, 2020 2:28am May 21, 2020 2:28am
  • Post # 93
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  • May 21, 2020 3:03am May 21, 2020 3:03am

This is just because the .xml file used in all news tools is still showing the news from last week:

  • Post # 94
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  • May 21, 2020 5:45am May 21, 2020 5:45am
  • Post # 95
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  • May 21, 2020 5:47am May 21, 2020 5:47am

Yes. The .xml file was finally updated.

  • Post # 96
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  • May 21, 2020 7:26am May 21, 2020 7:26am

Don’t forget: When the FF isn’t working you can switch to the backup source.

  • Post # 97
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  • May 22, 2020 1:31am May 22, 2020 1:31am

Downloaded both NewsCal and BrkNews from Post 1 yesterday.

1. How about Table Background and Narrow Table menu options on BrkNews as well?

2. Any possibility to make the calendar and breaking news entries as live links, so one
can just click for more details?

  • Post # 98
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  • Edited at 1:23am May 29, 2020 12:30am | Edited at 1:23am

Just found this thread, many thanks for creating the indicators. It’s a lot of work and people asking for the sky is really not appreciating your time.

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    Good Choice For Experienced Traders! 2nd place in the ranking!

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