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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 (04 – 08 Mar 19)

By Hector in Trade Ideas on 03 March 2019

1.(FBM KLCI MYR10 CFD)

Big Picture – Bullish

Resistance : 1,732 Support : 1,701

One Good Trade Idea

We have turned bullish on KLCI since 19 Feb 19 when the long body candle broke the resistance at 1,701. However it was not able to hold above the the resistance at 1,732 and is now going a pullback to support area. We will wait for a validation of this support level before we enter long on a price action signal.

2.(UK 100 Index GBP1 CFD)

Big Picture – Bullish

Resistance : 7,262 Support : 7,001

One Good Trade Idea

The bias is bullish on UKI and it has pullback into the dynamic trading zone between the 20EMA and 50EMA support. This week a retest of the resistance turned support at 7,001 may attract buyers and we’ll look for a price action long signal to enter.

3.(GBPUSD)

Big Picture – Bullish

Resistance : 1.3349 Support : 1.2968

One Good Trade Idea

Like the earlier peak before this swing high, GBPUSD is now undergoing a pullback after it met the resistance near 1.330. It may test the dynamic 50EMA support in the previous swing low and we will wait for a price action signal to long near support at 1.2968.

4.(USDCNH)

Big Picture – Bearish

Resistance : 6.7374 Support : 6.5995

One Good Trade Idea

On 10 Feb 19, I wrote here that we were looking for the next swing down to repeat itself for the 5th time. Well, we were not disappointed as the pair met sellers near resistance at 6.8088 and came back lower. For this week, we will be looking to add another tier to this position below prior swing low resistance near 6.7016 or below the 50EMA resistance and enter short on a price action signal.

5.(XAUUSD)

Big Picture – Bullish

Resistance : 1,326 Support : 1,276

One Good Trade Idea

Last Fri XAUUSD closed at 1,293 with a long bearish candle and broke below the minor support at 1.298. While the trend remain bullish, it may pullback lower to support at 1,276 which is also about the 38.2% FIBO retracement level from the low of 1,160 back on 16 Aug 18 to the recent high of 1,346. We will wait for a price action signal to enter long.

Happy Trading!
One Good Trade

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