EURJPY - Closed our SHORT position in this pair last week for a nice +688 pips profit! Now waiting to go SHORT again provided prices do what is expected of it. But not short for too long as I see the end of this downtrend coming soon. One more move down to create a new low first. Read my post-Brexit FULL Analysis on this pair: (P) EURJPY Post-Brexit FULL Analysis: Massive Fall Can Lead To Massive Rebound! (Premium subscription required. Get detailed DAILY updates on this pair and many more! Subscribe here to read it: Get 50% discount Premium Trial offer)
NZDJPY - This pair just loves going sideways, doesn't it? Well, it is in another sideways pattern again. This time it looks to be forming a sideways triangle before heading down again. We are SHORT on this pair now and will remain patient while this pair works itself out.
AUDJPY - Last week was just about sideways consolidation. Although with some rather large swings. It basically ended up where it left off from the previous week. So this week we may see some movement. And that movement should be down. One more leg down to complete the wave 5 and then up we go.
USOil - After closing our positions in Oil last week and pocketing +1168 pips, we are now waiting for another good opportunity. Oil did EXACTLY as we expected it to do last week filling that Bat, reaching its TP1 making it yet another successful pattern and then dropping. Check the 4HR charts below to see what I mean. Unfortunately, we did not get SHORT on that drop as we missed the entry before it moved. But it should drop more. We will be looking forward to BUYING this pair whenever it finishes this correction.
GBPAUD - Unfortunately, we got closed out for a HUGE loss on this pair last week taking over an -1000 pips hit. But that happens. We'll take that as the cost of doing business as it does give us another clue as to what is happening here. And it's not a reversal just yet. There is to be some more downside to this pair before we see any reversal. Look at that update below and see just how powerful the downtrend is. We went against it way too early last week and paid dearly for it. But for sure, we are going to recover that loss and then some. But now to just wait....Read my post-NFP Analysis on this pair: (P) GBPAUD: Watching For The Corrective Reversal (Premium subscription required. Get detailed DAILY updates on this pair and many more! Subscribe here to read it: Get 50% discount Premium Trial offer)
GOLD ( XAUUSD ) - We closed our LONG positions in Gold last week for +1686 pips profit. Since then, prices have continued to move slowly higher breaking through and closing above a MAJOR DT TL. But my wave count shows that this uptrend should be coming to an end soon. When it does, we will be looking for the SHORT trade.
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