It's not often that we end up seeing more than one harmonic become prevalent on our charts, but when they do, the amount of opportunities you have are absolutely amazing. If these patterns confirm, we have the possibility to capitalize on roughly 837 pips over the next week or so. Definitely something you may want to add to your portfolio. So, what makes me think...
This pair has been in a strong bullish uptrend since mid- April, which incidentally is the first point of the bullish trendline. Since breaking the triangle formation in may, price has shot up, breaking the previous highs of ~189.654. This pair is all bullish and expected to rise further, however currently I am waiting for price to retest the previous highs of...
We are in a crossroads between major trendlines here. This forms a triangle pattern on which you can apply fib-time lines to predict a breakout (0.764 fib-time). I added some interesting levels and other trend lines aswell. How to trade it: Depending on what side of the triangle (bottom / top) the price is closer to while approaching the 0.764 fib-time, you can...
USD/CAD is trading below the resistance at 1.2570 (04/15/2015 high). Support can be found at 1.2368 (06/02/2015 low). Nonetheless, we do not see the stronger hourly support at 1.2305 to be tested anytime soon. In the longer term, the break of the key support at 1.2352 (02/03/2015 low) indicates increasing selling pressures, which favors further medium-term...
The trade Long or Short GBPUSD. This pair is forming a nice wedge pattern on the 4 hour chart. With the BoE interest decision coming early Thursday morning we are not sure which way this pair will break, but it will break out of the wedge pattern. We will be going Long with a break of 1.53750 or Short with a break of 1.517000. Our stop will be the ATR.
A nice wedge pattern is forming on the 4 hour chart of EURCAD, it's actually forming with two different lower trendlines extending to different times. This pair could break either way although our algorithm is indicating a move higher. We will be ready to take action on a break of either the higher or lower trendline by 10-20 Pips. A trade can be taken with a...
I am currently looking at a retracement to the downside in which my targets are outlined. once my downside target 1 has been hit i feel we should see the momentum back to my upside targets. We can potentially break below the OUTER T.L and hit the yellow barrier highlighted which will be a retracement the 0.61 level which is a confluence before price makes the move...
20 May USD/JPY Daily 21:03 EST - Has this pair finally broken out to the upside? With the break of 120.250, clearing the red trendline is pushing this pair up to the 120.870 resistance level. Clearing here, while probably difficult should allow this pair to make a run at 121.850 - 122.000 levels set in Mar & Dec. We will be buyers on any pullback while...
Here i see a Cypher Pattern on the NZD/JPY chart. And what i noticed, if you zoom out; on the daily chart there appears to be a crab pattern that has rallied as if it going to complete as suggested, but this Cypher pattern has me thinking that the market will more likely continue in downtrend and break the structure of the crab pattern therefore ruining that...
*Position Update: As of 05/15/2015 @ 7:41 EST we liquidated both sides of this correlation trade with a profit of 28.6 Pips. The Trade: Long EUR/USD & Short GBP/USD The correlation between these two pairs is 96% over the past year. The widest the spread has got over that time is about 700 Pips. Over the past 18 months we saw the spread widen to approximately...
BAC appears to be putting in a symmetrical triangle on the daily. No clear signs as to which way it may break so I will be waiting for the trendline break and paying close attention to the Major Support/Resistance lines. Feel free to share you opinions/criticisms.
AUD/USD is sharply higher breaking the 0.80760 top from April 29th and extends the recovery from the lows set last week and during the month of April. Since mid April this pair has been putting in higher lows and we believe this trend will continue. We are looking for AUD/USD to test the top trend line of the reverse triangle and will be buyers ahead of this...
Chart says it all, just waiting for the market to go to any of two areas. After it touches I am looking for an engulfing candle on 4h chart. Stops go above or below previous (before engulfing) candle wig. 113460 is a good place to take profits from the first trade since this area worked great as a resistance.
AUD/GBP Tringle Breakout at bottom.....Long and Short posibily! After cutting the interest rate (RBA) on a new record low 2,00% (2,25% before) and a coming economic quarter forecast update a friday, so there could be a very nice move in the breakout direction! All eyes on the interesting support or resistance level!
*Position Update: On 05/05/2015 we liquidated both sides of this correlation trade with a profit of 73.1 Pips while taking advantage of the correlation spread narrowing after the interest rate decision in Australia. A nice correlation trade is setting up between AUD/JPY & CAD/JPY. The spread in the correlation is currently 200 Pips, over the past year the max...
*We booked a profit of 27 Pips. Even though the spread is from from closing we decided to take the profit and move back into cash. Of course if this spread narrows we will be leaving a lot on the table but we are happy with the gain from a low level risk trade. We will be initiating 1/2 our position in a correlation trade of USD/SGD to USD/JPY. The spread is...
For the short term we are bullish. First target being 23.20. If this key level is broken then the next upside target would be 23.50. However, our primary target is on the short side of price level 22.00 then 21.50. We have a bearish formation on the weekly time frame.
I thought I would try another one after publishing an idea on the 4H timeframe, this time I looked at the daily for BTC. I do not trade Bitcoin and do this as a mental exercise, using the same tools / methods I use for trading Forex. You can find the link to the 4H chart under Related Ideas. The currency traded inside a bearish parallel channel for 286 days,...