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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 (25 Feb – 01 Mar 19)

By Hector in Trade Ideas on 24 February 2019

1.(Strait Times Index SGD5 CFD)

Big Picture – Bullish

Resistance : 3,272 Support : 3,220

One Good Trade Idea

The bias is bullish uptrend after it broke the resistance now turned support at 3,220. For traders who do not have any position may look for a price action entry signal near this support with a next target at 3,272.

2.(Taiwan Index USD20 CFD)

Big Picture – Bullish

Resistance : 388.6 Support : 367.8

One Good Trade Idea

TWI has finally broke the resistance at 367.8 last week. It is the highest level achieved since 17 Oct 18 and the bias is bullish. The next target is to cover the gap up to the 388.6 resistance level. Look for a pullback and a long entry price action signal near 373.3.

3.(US Tech 100 Index USD5 CFD)

Big Picture – Bullish

Resistance : 7,133 Support : 6,833

One Good Trade Idea

The trend remains bullish but traders who are not in position may stay sidelined and wait for a pullback from this level. There is a overhead resistance zone between 7,133 and 7,218. We prefer to wait for it to pullback near support at 6,833 as first attempt to break this resistance may fail.

4.(EURGBP)

Big Picture – Bearish

Resistance :  0.8810 Support : 0.8617

One Good Trade Idea

On 27 Jan 19, I wrote about a resistance level for EURGBP at 0.8810 for it to pullback to this level and enter short from there. It has since tested this level twice and the last one been a false breakout. We’ll continue to sell this pair and for traders who have not enter yet, may now wait for a pullback to the dynamic resistance between the 20EMA and 50EMA and enter on a price action sell signal.

5.(USDCAD)

Big Picture – Bearish 

Resistance : 1.3179 Support : 1.2969

One Good Trade Idea

The bias is downtrend and as is now below the earlier broken support at 1.3179 now tuned resistance again. We will wait for a price action signal to enter short below this resistance. Next support is about 200 pips down at 1.2971.

Happy Trading!
One Good Trade

 

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