Updated: Aug 1
Rundown of March opportunities and trades (+552 pips)
March has been a volatile month for the LogicStrategy™, and with volatility comes opportunity. The first quarter of 2019 showed promising signs for some economies while simultaneously showing contractions in others. This provides great opportunities for long and short trades.
NZDCHF SHORT (12/03/2019)
One of the trades taken by our members was the NZDCHF trade. The price throughout the start of march was rallying, increasing to the resistance between 0.6900 - 0.6920. On a technical sense a lone the trade was looking like a possible opportunity. However, extra confidence in the trade was seen as the LogicStrategy scores shifted to a negative score of -30. This suggests on a fundamental level NZD was overpriced and should short, this also aligned with some technical aspects of resistance.
The trade was placed by our member and he took profit at 0.6840 an area of support, with the confidence of fundamentals the position moved over 150 pips as seen in the image above. However, due to the member's personal strategy and risk management they chose to take profit at the conservative zone.
EURCAD LONG (14/03/2019)
After a few days the LogicStrategy showed strong shifts towards EUR strength, this is an indication of EUR becoming stronger and having a long bias. At the same time the Canadian dollar started to become weak. Moving to the EURCAD price chart we saw that throughout early march the price was congesting in a support area between 1.504 - 1.510. Combining the strong fundamental scores for EUR from LogicStrategy and the weak score Shahan was able to catch a great area to buy EURCAD.
The trade itself was placed on the 14/03/2019. It only took a few days for the fundamental forecast to be priced into the charts netting him 82 pips. This was a conservative area to take profit as the price itself reached the area of resistance at 1.5200.
GBPNZD SHORT (27/03/2019)
Towards the end of the month we saw much more volatility and changes in biases. As you should recall Shahan our professional member took a NZDCHF short in early march. His bias soon changed of the NZD as it shifted towards strength by the end of the month and at the same time GBP started to show heavy weakness. This was a good indication of a short in GBPNZD. A perfect technical line up showed resistance at 1.9500 with a strong evening star formation.
Shahan entered the position and it since dropped over 200 pips. The scheduled data on the 29th further pushed the priced down to the support level 1.9050. These multiple trade opportunities were all supported by the LogicStrategy fundamental system. Just showing how useful it can for all types of traders.
This is a live example in action, feel free to submit your trade ideas with the LogicStrategy™ scores and your analysis to firstname.lastname@example.org.