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Trade Ideas

Disclaimer: The views on the posts and charts are for educational and illustration purpose only, as past performance is not necessarily indicative of future performance. They are provided for general information only and therefore should not be taken as any offer or solicitation to do any investment or trade.

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Forex and Index CFD Trade Ideas & Chart Analysis (21 – 25 Jan 19)

By Hector in Trade Ideas on 20 January 2019

1.(Aust200 Index A$5 CFD)

Big Picture – Neutral
Resistance : 5,948 to 6,018 Support : 5,775

One Good Trade Idea
Price false break below the resistance at 5,775 last Mon but has since resume the upward trend. We are neutral now and is looking for a pullback to buy with a price action signal near support 5,775. We can look to sell near the resistance zone between 5,948 to 6,018 if price continues to push higher.


2.(FTSE China A50 USD1 CFD)

Big Picture – Neutral
Resistance : 11,955 Support : 10,630

One Good Trade Idea
Price has recovered above the previous consolidation range between 10,630 and 11,955 and we can adopt a price range strategy to buy at support and sell at resistance with the price action signal respectively.

3.(US Tech 100 Index USD5 CFD)

Big Picture – Bearish
Resistance : 6,869 Support : 6,438

One Good Trade Idea
Although price has recovered since the start of Jan, the bias is still one bearish trend as price is now near the overhead resistance. We are looking to sell on a bearish price action signal below the resistance near 6,869.

4.(EURGBP)

Big Picture – Bearish
Resistance : 0.8939 Support : 0.8655

One Good Trade Idea
Last Fri it closed above the short term support at 0.8810. As long as price is below resistance at 0.8939, look to sell with a price action signal with a target to move to support level at 0.8655.

5.(USDCNH)

Big Picture – Bearish
Resistance : 6.8258 Support : 6.5995

One Good Trade Idea
Look to sell on a pullback near resistance 6.8258. Notice the lower highs pattern on the price actions. Wait for it pull higher but below the previous high to sell on a price action signal.


Happy Trading!

One Good Trade

 

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