You can trade any pair of instrument you want. You need to do a bit of homework in relation to how the spread affects the set up and what time frames work best. Personally I keep an eye on audusd, eurusd, gbpusd, eurjpy and gbpjpy but primarily ...

Flag trading the trend

EJ — That EJ trade opportunity had hidden divergence ie price formed a lower high whilst the rsi formed a higher high which is bearish. I shorted GBPJPY on the same basis at 22.55 GMT and it worked out nicely. My primary reason for the trade ...

Flag trading the trend

EUR — Pretty good definition of a range bound market. I'm looking for a short but need lots of confirmation.

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Pound yen trade behaved perfectly.

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Divergence — I don't profess to having the divergence trades down pat but this is one that I thought was worthwhile following.

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Kdx, the UP is a reminder for me that the trend is up. Stops me trying to find shorts, it wasn't specifically related to my support line.

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Agree that market is sideways at moment but the overall trend is still up, either zoom out or use a higher time frame to gauge the trend.

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should be 1.4116

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Anybody else using 1.416 as a support area for eur?

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Trends — This may seem pretty basic but I have found it removes the temptation of taking a trade against the trend. I simply mark either a U or a D on my charts as a constant reminder of which way the trend is heading.

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What hours (GMT) will the chat room be open?

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keep an eye on eurjyp - much steeper angle of ascent so could make a bigger retracement. Move today of 60+ v 40.

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I'm starting to get very interested in the 1.4050 level on the euro - see if it holds and develops into a possible short. Anyone see anything that I can't - blinded by seeing what I want to see.

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10.30am in Tokyo and euro gets to 1.4050, also euroyen at some resistance level also - what will happen?

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S & R chart for euro

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As a trade plan it has merit but I do worry about the gap being filled when the markets start for the week, if the gap is filled then a figure of 1.4080 could be achieved before a pullback commences. Interested in your thoughts on how you view gaps ...

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I'd like to see a pullback to circa 1.4050 and then a short confirmation - any way that's a loose trade plan and we'll just have to see what transpires

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Friday night in Sydney and I have had a good week and the charts look really confusing to me so I think I'll call it a day. good luck.

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aussie looks like it wants to break down but there is talk that AMP have been buying as it completes it's $10b takeover of AXA. Similar story in NZ where reinsurance companies have been buying the kiwi to cover the earthquake exposure

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The aussie soldiers used to have a saying - 3 strikes and your out. It's not baseball but referred to when they lit cigarettes off the same match during the WW1 - the first light the enemy saw it, the second light they took aim and the third light ...

Flag trading the trend