After 2 months+, oil is developing into a rampant bear. This in my opinion is the initial move of a general bearish trend to come. My first target is $48, as I said in my first post on this trade 2 months ago, with the possibility of a second target of $44-42. This point will not contain any analysis or further explanations, as I have already registered my...
We failed to break the 200DMA on the weekly chart. On top of that we had a clear reversal candle and volume on 3/14/2017 (idea thanks for Chartwatchers. Furthermore, all indicators are signaling a bullish pivot. I am not sure how long this bull will last, so I will have a tight stop-loss.
I haven’t commented on the EURAUD for quite some time. It isn’t a cross I usually trade, and toward the end of last year, the price action had become far too choppy for my liking. However, the past 48 hours of activity have caught my attention. On Friday, buyers managed to close the week above the 1.4090 handle. This level has been a key factor for the Euro cross...
The EURGBP has enjoyed a 360 pip rally over the past 11 trading days. During that time the Euro cross has only suffered one down day, which is quite impressive on its own. On Friday, buyers made another statement with a close above the 0.8720 handle. This level is the August 2016 swing high and was also the closing price that led to the January 16th gap...
The EURUSD bulls finally did it. After several failed attempts to breach the 1.0635 area, Friday’s late session surge put the single currency well above the mark. Yes, there was some profit taking into the close, but that isn’t abnormal especially given Friday’s 130 pip rally. At the end of the day, the pair still managed a close above the 1.0635 handle, which...
Proof of the Mumbai Scalper Strategy.... Not a huge advocate of scalping but can come in handy when your medium/long trades are playing out. This Chart shows a sell scenario. this shows that when the Parabolic SAR is in a downtrend we wait for a confirmation of the stochastic oscillator to cross the 80 level, when both of these criteria's are confirmed, place a...
However, with the 115.10 handle still intact, I decided to remain on the sideline. I also didn’t want to enter in front of yesterday's non-farm payroll report. The 115.10 area has served as a pivot since January 6th. It’s also the 50% retracement from the December 2016 high to the current 2017 low. So far, the reaction from yesterday’s events is mixed, and the...
EUR/JPY - Potential Long opportunity Break of the Weekly Trend Line to the upside, potential long at the 382 Fib level for targets at the -27 extension. Enter after viewing price action as always. Trade on the Daily and Smaller time frames for perfect entry What are your own views on this pair? comment below.
Hello Traders, EURAUD is in an intact weekly downtrend. However, the pair broke a significant daily trendline, which structure ways could tell us that we can see more correction to the upside within its short trend. If we see a nice breakout structure well gonna buy the pair out of its consolidation pattern. As off for right now we still wait for the pair to...
Just two sessions ago the AUDUSD carved out a bearish pin bar from support turned resistance. The trade has played out in textbook fashion so far, and now it seems the AUDJPY is following in its footsteps with some bearish price action of its own. The rising wedge that extends from the December 2016 low broke down yesterday. These patterns often signal exhaustion...
PAIR: USD/JPY TTF: 1HR TRADE: BAT PATTERN NOTE: These are potential Trade opportunities based on my own personal Analysis. Thank you, Star Prosper Philip Stewart
PAIR: GBP/JPY TTF: 1HR TRADE: BAT PATTERN NOTE: These are potential Trade opportunities based on my own personal Analysis. Thank you, Star Prosper Philip Stewart
PAIR: GBP/USD TTF: 1HR TRADE: BAT PATTERN NOTE: These are potential Trade opportunities based on my own personal Analysis. Thank you, Star Prosper Philip Stewart
Bad data from Germany, could drop the index, tomorrow the most important data is German Industrial Production (MoM) (Jan)
Quick short on the USDJPY due to wolfe wave and ABCD pattern. Good Luck!
Shorting due to a Wolfe Wave from the green zone. Confluence is the ABCD pattern and RSI divergence.