Keep Holding a short phase on 4HR view Waiting for buy Opportunity
The EURUSD has again found support at the yearly PP. I am still waiting for the corrective structure, that has been playing out since the beginning of 2015, to complete. Will be looking for a break of the yearly PP to make me bearish and a break of the resistance zone between 1.125 and 1.132 to confirm the final move to complete the corrective structure.
Last week potential completed a ABC correction of the first impulse of a weakening rand. Talk about the looming downgrade is increasing and there is still the USD rate high expectation. The only thing going for the rand at the moment is the possibility of the Gold price improving. This week I expect at least a move to the yearly PP at around R14.2/USD. At the...
I anticipate this big support zone between 0.85330-0.85660 to hold and am looking for a move up towards 0.8610 & 0.86900.
Selling into resistance. If this zone holds my initial target is 1.30000-ish and if that level folds I am looking to hold my second position until 1.2880.
Bought this pair this morning at 0.97880 and am looking for a initial move up towards 0.98100 and if that level folds, another push up to 0.98400.
This morning we broke through lower resistance around 16420 signaling we are now going back up and we are at the start of wave 5 looking to complete ABC Correction
AUDCAD 0.03% currently appears to be in a smaller corrective structure at moment. Wave "c" appears to have just completed and an impulse wave down from the upper trend line has begun starting wave "d". I am expecting a possible buy setup and the start of the wave "e"/completion of wave "d". Watch for the buy setup if the wave "d" is completed. Thanks for looking...
Still in a ranging environment on the higher time frames, shorter time frames can present some short term trading opportunities. Depending on how price reacts to the small support zone around 1.8200-1.82150 I am considering to go long with my primary target at 1.82500 and second target just shy of 1.83000.
USDCAD provides us 3 scenarios to trade. As mentioned in the chart above, we can have breakout in any direction, but broadening wedge ideally results in Upside breakout. If USDCAD decides to go on opposite direction, we can short USDCAD with proper stops. The 3rd scenario is we have retested the previous support @ 1.3130's in USDCAD, so on Bullish confirmation we...
Went long at 1.54450 and looking to target 1.5500 primarily. 1.55300 is the extended target. My apologies for not posting a more thorough analysis due to lack of time. Unfortunately I also was a bit late with posting my trade idea on TV.
Consolidation prior to London open indicating a possible follow through by the bulls after the asia session once London opens. First target level is 115.800. Second target level is 116.100.
Two weeks ago we were looking for the break of the pitchfork median line. Since then there was a short-lived break and price corrected back below the median line. In the mean time we have seen the 50 day sma cross the 200 day sma which is a long-term bullish signal. With the market still making higher highs (HH) on the completion of this correction we can expect...
I have been following the USDCAD using the weekly chart and Ichimoku. I did not post last week and wanted to show a daily view this week. Price seems to be defined by the Yearly PP and 200sma during the correction of the impulse down move. The retrace has not even reached the 38% retrace level and important structural level. However, to achieve this the Yearly PP...
I did not post last week but the correction completed and the final push to point E started. Will be looking for the structure to complete around the 21st of this month and then we can expect a strong move. We have been following the development of this corrective structure with ABCD patterns for a number of weeks (see below) but we are now starting to look for...
Following the Wyckoff analysis previously shown we are in a corrective structure. Waiting for the mark down to continue. I did not post last week but the previous week we were looking for a test of the top of the structure. This has occurred and we are now again moving to the bottom of the structure. We are now coming to the thin end of the wedge and will start...
MY VIEW ON SILVER - STILL BEARISH TO ME - LOOKS TO BE IN 2618 FORMATION WHICH COULD SEE US COMPLETE THIS CORRECTIVE STRUCTURE. CURRENTLY OUT OF THE CONSOLIDATION AFTER A GOOD POWERFUL MOVEMENT ON FRIDAY BUT WILL BE LOOKING TO LONG THE BREAKOUT AROUND THE SUPPORT AREA 18.000
I did not update last week but the previous week was looking for a consolidation or completion of the ABCD pattern (see links below for previous evaluation). The outcome was a consolidation. So now my view is that we will se some further consolidation next week around the yearly PP and previous important structure at just above R14/USD. But the following week...