I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
This pair fell 75 pips on Friday after a stellar NFP strengthened the USD. A strong decline of gold also helped to create selling pressure for the Aussie Dollar. The markets expectation of a FED rate hike this summer has certainly increased, so I am fundamentally bearish on this pair. That being the case, I have to take into account what I actually see in the...
This is an update to the trade idea linked under Related Ideas, where I had spotted a bearish Gartley pattern on the 4H timeframe of this pair. For a further description of that trade I refer to the link. Since then the price printed a new C point for this pattern, widening the potential reversal zone (due to the shift of the AB=CD pattern which is a key harmonic...
This pair is looking for its weekly trendline. I think we see a move to the downside from the support-turned-resistance area at 1.61. I'll keep an eye for some reversal signals around the current area before accumulating a small position downwards. I'd estimate holding this trade for 20 days or so, target at 1.9, SL: 1.97 Update in the comments if I move on this...
This pair has been trading sideways for a couple of days, oscillating around the 1.25 level. And as we know, consolidation breeds advanced price patterns. Today there is a host of Canadian and US data coming out that could give it an impulse. The key US data point today will be the ADP employment change. Its the prelude to NFP and might give us a hint of what that...
There are several EURO news events this morning (pmi´s and retail sales). Depending on whether they are favorable or unfavorable as a whole, we could have an opportunity to trade out of those news events with the reversal of an advanced price pattern that is nearing its completion on the 4H timeframe. Price is already testing the potential reversal zone and this...
In general, I am expecting a continuation of GBP strength the coming week, drawing support from steady economic growth with the revised GDP coming out as expected and recent labour market data coming our positive. The Japanese Yen on the other hand is under pressure with the BoJ revising their growth forecast lower and most of the recent Japanese data...
The analysis above is just my overall bias on the pair. Price has reached the bottom of the channel (also the completion of a harmonic wave) and is beginning print higher lows (indicating a possible uptrend). However, price is still struggling to break resistance (shaded grey area). I will be monitoring this pair for a LONG entry once resistance is broken. Entry...
This pair rose strongly after a higher than expected non-farm payroll number came out (257K) together with a favourable wage gain percentage (0.5%). Because of this strength in US the labour market, the USD immediately became bullish, driving USDJPY up 185 pips. This moved the price of this pair above the B point of a potential bearish Gartley on the 4H and now...
Bearish Crab. Parabolic Sar getting closer to reversal. RSI is in overbought territory. Stop Loss - 1.90964 Short Entry - 1.90556 Target 1 - 1.87811 (6.8 to 1) Target 2 - 1.86145 (11 to 1)
This pair lost more than 200 pips last Friday, following the release of a disappointing UK manufacturing pmi. This leading indicator of economic health unexpectedly dropped to a three month low of 52.5, while experts had expected an increase to 53.7. When later the same day the US manufacturing pmi came out and was unfavourable, the Yen found relative strength,...
I let the chart do all the explaining.
I don't expect to go LONG unless it breaks above the 1.2500 and closes strong above. Update: Looking at a wedge formation at the first support structure. Looking to take 40-50 pips on this. Happy Trading.
Everything on chart :) I follow the rule less is more! Safe and secure entry would be waiting price breakdown trendline + EMA 12 but you might me little to late So i would suggest here little more agressive entry, drawing trendline accurate on H4 and wait that price reach around EMA 200 (please check your charts) and after price BREAKDOWN TRENDLINE + EMA 12...
Could break either way. This level of support seems to be holding so far. A break to the upside and i will target the two white horizontal lines, a downside break will target 1.65
Gold just bumped the 50% fib level which apparently a major resistance level. I'm looking for a short position with initial take profit @ 61.8% fib level.
- 4 H chart : I found this FALLING WEDGE : maybe this could be LONG in a SHORT time period (still BEARISH on WEEKLY). - NEUTRAL SUPPORT ZONE btw 1268><1277 - DAILY chart : a test on 200 SMA (could act as support) and give a new run up Conclusion : I am waiting for the reaction at 1300 (on 1H chart) (This is my first chart published : advice are welcome)
New lower low, waiting for retest of previous low. Sell at confluence with 50% fibonacci retracement of the last swing low. T1 at structure (blue dotted line) which is 1.27 fibonacci extension of the last swing low as well. T2 at 61.8% retracement of the main swing high in this chart