Comdoll Trading Kit (September 9-13, 2013): Potential Trade Setups

My AUD/JPY long trade is still open (and in the green!) but I’d like to make more pips! Help me catch a good trade for the week by letting me know what you think of these potential plays on AUD/USD, USD/CAD, and NZD/USD:

Potential Trade Setups

AUD/USD: Potential Pullback
AUD/USD ChartAussie bulls, unite! It looks like AUD/USD ain’t lookin’ back from its recent rallies, as the pair looks ready to break past .9300. A potential pullback might be in the cards though, with the 61.8% Fib lining up to the .9200 major psychological support and former resistance. See the setup

USD/CAD: Bullish Divergence
USD/CAD ChartUSD/CAD may be selling off pretty aggressively, but it appears that the Loonie might see an end to its happy days. The pair has formed a bullish divergence, as price made higher lows while stochastic drew lower lows, on the 4-hour time frame and hints of a potential bounce from the trend line. See the setup

NZD/USD: Ready to Reverse?
NZD/USD ChartHow high can the Kiwi go? Based on the pair’s 4-hour time frame, it appears that NZD/USD might be approaching resistance around .8100 pretty soon. Stochastic is ridiculously overbought, which means that Kiwi bulls are already very exhausted. Is it gonna bounce or break this time? See the setup

Significant Levels to Watch Out For


AUD/USD USD/CAD NZD/USD
Week Open (WO)
0.9209
1.0399
0.8013
Previous Week High (PWH)
0.9218
1.0559
0.8023
Previous Week Low (PWL)
0.8924
1.0382
0.7738
Top Weekly ATR (tWATR)
0.9329
1.0471
0.8128
Bottom Weekly ATR (bWATR)
0.9089
1.0327
0.7899
Other significant levels
0.8900, 0.8975
1.0450, 1.0600
0.7700, 0.7875

In case you’re wondering what ATRs are all about and how I computed those figures, make sure you check out my entry explaining my trading strategies.

Happy time

Other Popular Articles:

What is the STA strategy? Q2 2013 in Review Comdoll Trading Kit (Sept 2-5, 2013) AUD/JPY Trade

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>