1. Weekly Pivot wasn't touched (Rob Booker concept) 2. Boomerang Level was formed 3. Weekly Range Projection was exceeded (following week is reversal/retracement bias) 4. Price-RSI Convergence (high probability price could turn) Refer to the link below to understand what is Boomerang Level
I have read that the Labour Party would vote for a second Brexit referendum. I am not sure wether that is bullish or bearish for the sterling. The market is one moody bugger who changes its mind so much. One day, this kind of news would be bullish for sterling, one day it becomes bearish. However, this fresh news (about potential second referendum now that no...
FOMC later today. The probability of the Federal Reserve to raise interest rate have been priced in at 98%, unless they somehow decided to hold the rates today, there be no headline movement today. However, statement from the Federal Reserve is the one that will potentially set the sentiment tone for the whole week if not the month. Will it be a dovish hike?...
Intraday, price did not touch it's minimum high or low projection by few pips. I always tell a story to myself that "if the price doesn't touch the minimum high or low daily range, they owe the market and have to pay it eventually". Now, this information doesn't help me really as it doesn't necessarily offer me any kind of a "crystal ball" "leading indicator"...
Intraday (refer to top left chart), price almost touching the weekly range. When that happens, I am biased on a retracement. Mid-term (refer to H4 and D1 chart), price have touched the Monthly projection and tested 87.000 price which was rejected mid May 2018. Plenty of trading plan can be produced from this. Bearish Engulfing Candle on H4 and/or H1 would...
The fundamentals that move the Canadian Dollar the past week or so were the updates on the NAFTA deal. If a deal struck, Canadian will definitely strengthen. However, the Commodity Market is an important catalyst as well specifically Oil. US-China Trade war somewhat affecting market sentiment and the energy market is no different. The market sentiment at the...
Weekly Range had been hit so technically I will be biased of a 38-50% retracement move (if not full reversal). I am however not ruling out another push to the upside.
Refer to the charts for the trading plan //Retail Sales later.
Binary as in 1 and 0. Good unemployment data, I will Long AUDUSD. Bad Employment I will short AUDUSD (Aussie is already pressured by the US China Trade War as it is). A good economic data could give some relief to the Aussie and I want to make sure I am in a trade if that happens
Sentiment from the PPI poor numbers and the NAFTA deals (CAD strength pressures the Dollar). CPI US later some market experts believed a slow down numbers as well. I am trading into this risk. Technically, USD across the board failed to break levels to continue the bullish USD trend. If current candle closes as Bullish Engulfing cande (1) , then I will LONG it...
The US-China Trade War most definitely pressures the Aussie Dollar. Technically, AUDUSD is consolidating and I am looking for a Short Trade opportunity. A pullback might be an ask but any small pullback followed by a Bearish Engulfing Candle in H4 or H1, I will be in that trade. Target the Weekly Low Projection (120 pips)
The Bond Auction went well as expected that could help the Bond Yield which could underpin the Dollar. Bond Auction for the 10Y later today and expecting a Demand>Supply situation as well. EURUSD -0.13% have been ranging between 1.17xx handle and 1.16xx (Accumulation) and I am picking a downward direction if the pair attempts to expand its range for September....
Ater Daily Projection High (yesterday) was exceeded and Bearish Engulfing Candle after testing Weekly Pivot . I shorted hours ago and target as illustrated on the chart.
The No-Deal Brexit jitters potentially pressure the Sterling in mid-term. I am picking two directions within a general GBPUSD mid-term bearish bias. Left Hand Side Chart is H4 Timeframe. Right Hand Side Chart is H1 Timeframe For Plan A : I am marking yesterday's daily pivot + 1.29000 price and I want to see how the market will react upon reaching it. A bearish...
Can anyone spot it? If you do, allow me to say that I am not saying this will pan out. But my argument would be when it is okay to say certain patterns are repetitive, who are to say THIS will not repeat itself as much as price respect previous price levels? NOT A TRADING PLAN
I am anticipating AUDUSD to rally after the RBA Monetary Policy Meeting and reach weekly pivot @ 72422 and coincidentally hitting Daily Projection high (58 pips). If the price goes there, I am looking for a Bearish Engulfing candle or Dark Cloud Cover and short AUDUSD. Target weekly projection low or 2:1. I am still seeing bearish AUD in spite of the current...
I want to short EURUSD if a bearish engulfing candle or a dark cloud cover in one of these levels (marked in red arrows). Target(s) based on the average daily projection Low.
If price reaches there, I will wait what kind of reaction will happen. If Bullish Engulfing Candle occur, I will LONG and target the daily/weekly pivot (it would be within the daily range projection high).