GBP/JPY is looking like it wants to break to the downside. After consolidating for several hours it's forming a wedge of lower highs and higher lows. Odds are it will break to the downside. As to not jump the gun we will be shorting this pair with a break of 181.800, looking for a move of 80 - 120 pips with a stop of 120 - 130 Pips.
VIDEO: www.youtube.com With the AUD news just hitting the markets, we have a lot of market hype with the good news coming out. Still managed to bank pips by using the strategy in the photo above. New video released today going over previous patterns and potentials, will keep you posted in a follow up tomorrow morning. Star Prosper Philip Stewart
Manufacturing production m/m will be announced in few minutes. I am expecting it to compliment this butterfly pattern. It is unclear whether the market will continue to go bearish as it is in demand and supply zone(area). We are expecting a retracement untill next week. it is time for bears to take profit since it is the end of the week also. As always keep an...
According to the Forex calendar, we are expecting FOMC meeting minutes today at 19:00 GMT daylight. This news event hopefully will move the market to confirm our AB=CD pattern. The bulls are waiting with eager to get in the market while the bears are ready to take their profit and go home. As illustrated on the graph, I am anticipating the market to come and...
Recently with Tesla, Positive news has been ignored and negative news has been exaggerated. This irrational pessimism, combined with high short interest might indicate a rapid momentum upwards swing is in order. This is especially true if Tesla chooses to announce their CPO program or their stationary storage product soon.
Sometimes knowing the general direction of fundamentals will be more than enough in trading, the charts says everything of what the market intended. News are just meant for distribution of expensive stocks to the average joe. Had a pretty good trade from this :)
We have a possible correlation trade between EUR/USD & EUR/GBP. The spread in the correlation has come to a point on the 4 hour chart which may provide a nice trade, you should be able to capture some profits as that spread narrows. The trade should be as follows: Short EUR/USD and Long EUR/GBP.
The price closed with a H4 bullish bar on the chart and with the prices reaching higher highs on the lower timeframe after the opening of the markets on london, the prices formed kind of a bullish pin bar formation with the support level being near a past resistance level that was acting on the USDCAD and that is holding together with a 0.618 fib retracement and...
Hi traders, GBPUSD still in a boring support zone which started on the 8th of January. 1.5200 is resistance and 1.5050 is support. PLEASE; dont buy at the top of this range or sell on the bottom, wait for the break or buy at the bottom or sell at the top so your risk will be smaller. I am long right now from 1.5080, SL right now is at positive at 5085...
Arguably the biggest news event this week will be the ECB press conference Thursday 14:30 CET. Officially its just a periodic meeting where they convene to vote on their benchmark interest rate. But in reality, they will discuss the purchase of government bonds and all eyes will be on the press conference after the rate announcement, as the market expects Draghi...
Following the long-term uptrend of USDCAD, as key Canadian economic indices are set to be announced 30 minutes from now.
The pair found support at the 0.5 and 0.382 Fib. level, signaling the next move up, Lower then expected USD Consumer Confidence (SEP) at 86.0 was not enough to break this level and therefore I believe this pair is going to go higher on the JPY Tenkan news. Watch out for: JPY Tankan Large All Industry Capex (3Q) JPY Tankan Large Manufacturers Index (3Q) JPY...
Our Unique Forex Algorithm is looking for EURAUD to make a move higher if a certain price level is taken out. Please refer to the chart for further details.
My bias is for short. There is a confluence of - d1 line chart; day tf suggests a distribution pattern in place. ( red lines) -d1 fib5 - h4 channel top - h1 channel top with macd divergence What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to...
Is Coca-Cola investment in Monster Beverage enough to boost price beyond the trending channel?
One can often hear market participants saying "Some bad news could see a sell-off" or "So much good news and where is the rally?". The chart shows some of the major news events of the past months in context of price action. It illustrates that there is no correlation between the relative positivity or negativity of news - that the market evidently uses news...
Clear Double Bottom; Less than clear triple bottom on daily chart. News released on 15:22 today caused a nice move into close. There was a low volume selloff to close at .0140 red on the day. I will be watching for a strong open and break of .0150 area on volume to break above down trend line. Or a possible weak open to wash out and test .0125 support area...
DHI is up today after housing news came out from US. There were sold 504k of nev homes compare to 442k expectatoins. Very strong upbeat. DHI was hovering around 8/21 EMA and above all key long term moving averages. It triggered long entry when price broke and closed above $23.25 resistance one month ago. Break above $24.80-$25 resistance area could attract more...