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Simit Patel Simit Patel is offline

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About Me

  • About Simit Patel
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Kiva Bank Fund
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Post Thanks / Like

07-28-2015
02:30 AM - clicked Thanks for this post: Covered Call Introductory Tutorial by Simit Patel
07-19-2015
06:51 AM - Shantala clicked Thanks for this post: Gold Now at Key Support by Simit Patel
07-15-2015
05:49 AM - elsig clicked Thanks for this post: Steve Nison on Windows (aka Gaps) by Simit Patel
07-11-2015
08:02 AM - Simit Patel clicked Thanks for this post: [text] BRIC leaders warn on market instability - FT.com by Tekmnd
07-10-2015
06:47 AM - clicked Thanks for this post: The Pattern Day Trader Rule by Simit Patel
07-09-2015
12:31 PM - each1increase1 clicked Thanks for this post: Any education on binary options? by Simit Patel
07-08-2015
06:25 AM - marcussl55 clicked Thanks for this post: Question regarding last hour of trading on the forex market by Simit Patel
07-05-2015
06:49 AM - Stefan clicked Thanks for this post: What happens to CFD contracts in a spinout? by Simit Patel
07-04-2015
06:03 PM - Stefan clicked Thanks for this post: What happens to CFD contracts in a spinout? by Simit Patel
06-29-2015
03:55 AM - To be clicked Thanks for this post: EURUSD Now at Key Resistance Level by Simit Patel
06-22-2015
01:08 PM - Septimus clicked Thanks for this post: Will FGEN continue to run? Help with targets please by Simit Patel
08:11 AM - Power Broker clicked Thanks for this post: Will FGEN continue to run? Help with targets please by Simit Patel
06-16-2015
03:09 PM - gauravgawri clicked Thanks for this post: A Simple Course in Global Fundamental Analysis by Simit Patel
05:35 AM - clicked Thanks for this post: SureTrader Review by Simit Patel
06-11-2015
11:01 AM - newlife clicked Thanks for this post: USDJPY Explodes Past Resistance, Price Now at 7+ Year High by Simit Patel
06-05-2015
04:52 PM - clicked Thanks for this post: USDJPY Explodes Past Resistance, Price Now at 7+ Year High by Simit Patel
05-30-2015
11:35 PM - Shantala clicked Thanks for this post: The Basics of Technical Analysis Simply Explained by Simit Patel
05-25-2015
03:04 AM - clicked Thanks for this post: The Basics of Technical Analysis Simply Explained by Simit Patel
05-21-2015
07:15 AM - Simit Patel clicked Thanks for this post: ZigZag Parameters by StockJock
05-18-2015
07:13 AM - clicked Thanks for this post: Crude Completes Its 9th Straight Up Week by Simit Patel

Blog

Latest Blog Entry

Posted 12-15-2014 at 07:57 AM by Simit Patel Comments 1
Posted in Uncategorized
USDSGD falls to the bottom of a price channel, which is also a horizontal support level and the 50% Fibonacci retracement from the swing low to swing high. We are also seeing considerable USD strength across the board. As such, I'm long at 30936, with my stop at 30665 and my target profit at the recent swing high at 32390. This needs a pullback of about 40 pips at the time of this writing to get filled; 40 pips is quite a bit for the relatively tight trading USDSGD, so this order might not get filled....

Posted 12-12-2014 at 07:53 AM by Simit Patel Comments 0
Posted in Uncategorized
NZDUSD is in a clear downtrend, but has now snapped back to a resistance level that coincides with the 50 SMA. At the same time, we're seeing price action stall and reversal candlestick patterns form. I've got my stop just above the recent swing high, and my target profit is the support based on the weekly chart. This gives me a reward/risk of about 3.5.


Posted 12-11-2014 at 09:20 AM by Simit Patel Comments 0
Posted in Uncategorized
I've been looking for a chance to jump in on the short yen trade, which has been one of the best trades in 2014 -- especially over the past two months. I finally got what could be the pullback I'm looking for, as AUDJPY appears to be bouncing off support at 98.50. As such, I'm long at 98.50, with my stop at 97.05 and my target profit at 105.14 -- a resistance level visible on the weekly chart. This is a relatively small position, as I'm leaving more capital ready in case USDJPY pulls back even more....

Posted 12-09-2014 at 07:42 AM by Simit Patel Comments 0
Posted in Uncategorized
I split this into two orders, since in my experience reversal candlesticks like this one often don't provide the pullback one would hope for. So I'm short at 2.030905 and at 2.05041; my stop for both orders is at 2.05995, with my take profit at 1.96389. The rationale for the trade is simple; we're seeing a downward channel on GBPNZD, and now we have a reversal candlestick at the top of that channel that could portend a move down.

...

Posted 12-05-2014 at 08:27 AM by Simit Patel Comments 0
Posted in Uncategorized
NZDCHF has pulled back to support, its current price is above its upwardly-sloped 50 SMA, there is a pattern of higher lows, and a hammer candlestick pattern appears to be in place. Moreover, we are seeing signs of strength on other NZD pairs, most notably NZDCAD. In light of these factors, I'm going long at 75514, with my stop at 75061 and my target profit at 7741. This gives me a reward/risk of about 4.19.

Recent Comments
Why did you stop your...
Posted 04-11-2015 at 03:18 PM by zohaibayub85 zohaibayub85 is offline
luckily i made an error...
Posted 11-26-2014 at 09:40 AM by Simit Patel Simit Patel is offline
Tough one, Simit......
Posted 11-26-2014 at 08:21 AM by DREBG DREBG is offline
The head and shoulders...
Posted 10-30-2014 at 11:06 AM by slaidais slaidais is offline
Dear Mr. Patel, ...
Posted 10-29-2014 at 11:44 PM by CXN CXN is offline

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