Today I want to give you some of my trading ideas. I am looking at some pairs on my chart for trading opportunity, especially for GBP/USD, AUD/USD, and EUR/JPY

Good afternoon traders! Today I want to give you some of my trading ideas. I am looking at some pairs on my chart for trading opportunity. Let’s take a look:



1. GBP/USD

gbpusd

 

The picture above is the GBP/USD pair on daily chart. The pair is around a strong support level now (1.517) and the price could bounce up. The Stochastic is in oversold area too, so now we have signals to go long. Let’s check at a lower time frame :

gbpusd
It is the GBP/USD pair 4H chart. Take a look at the Stochastic. It is showing bullish divergence, and this is also a signal to go long.

I prefer to buy this pair. The target should be placed around resistance area 1.534 and then the second profit target should be around 1.551. Stop loss should be placed a few pips below the latest low (support).

 

2. AUD/USD

audusd

The picture above is the AUD/USD pair on hourly chart. What I am looking for here is the price to move up around 0.696 or 0.699. These levels are strong resistance levels provided by the trend line. I will wait for the price to move around these levels and look for any signals to go short. Stop loss should be placed above the trend line and profit target should be placed near the latest low or at least two times your stop loss (1:2 risk reward).

 

3. EUR/JPY

eurjpy

The picture above is the EUR/JPY pair on 4H chart. What I am looking here is the same like the AUD/USD pair. I am going to wait for the price to move up to touch the trend line around 133.75 or 134.20. As always, I will look for any bearish signals, like bearish divergence to go short. Stop loss should be placed above the trend line and profit target should be placed near the latest low or at least two times  your stop loss (1:2 risk reward).

I will keep my eyes open for these three pairs. If there are some strong signals to enter the trade, I will enter.

Hopefully this help, see you next time!

RICO FY