The past few days I've shared my trades that the yen will continue declining in value, and that now was the time to short it. Specifically, I have trades on to go long AUDJPY and CADJPY, and a pending order to go long GBPJPY. And now, I'm adding a long NZDJPY trade to this as well.
By now the setup is familiar: the pairs were all trending up, but have recently...
A near term top was called last week in NZDJPY but something bigger may be underway. The rate has seen its deepest penetration of 2 year trendline support. The line, when extended from the June 2012 top, exerted influence at tops. As such, the action at this trendline is a major development.
Near term, there are characteristics that make the current situation...
NZD has been really strong lately but it's starting to show signs of fatigue. The assenting channel near structure gives me the indication we will likely see a break down. Not to say a news event won't blow things up but the chart reads weak.
NZDJPY currently @89.28 with some late week resistance shown yesterday and Thursday at the 89.40-50 level. Now we are inside this wedge and waiting for the break to take the correction to the 88.70 level.
Trading the 60-min chart for our entries, we can see how we are inside a triangle and waiting for direction as well.
Going into next week, be ready to take...
I shorted this pair based on the rallying I'm seeing on NZDJPY across the board, and based on the triple doji that is information at resistance as well. Price is below the 50 SMA and we do have a pattern of lower highs. I had placed a similar order yesterday that had not gotten filled; in light of the candlesticks, though, I revised this order to enter at a lower...
The market gapped up into resistance to start the week on NZDJPY; moreover, I'll call the gap a novice gap that gapped in the direction of the upwards short-term trend. Price is also below a downward sloping 50 simple moving average. These factors, as well as the bearishness we are seeing on NZD across the board, led me to put on a short NZDJPY. I'm set to enter...
Friends,
Today, I tweeted several signals and commentaries on this pair, looking at a smaller 4-hour timeframe, compared to this bird's eye daily view - Here is the original signal: twitter.com
The interest in the first 4-hour timeframe had to do with the development of a bearish Kiss-of-Death, which carries a high rate of success in moving in its intended...
Friends,
CHANNELS:
I have defined several times before the difference between the standard channel and the momental channel. The most important distinction between the two is the survivability of the latter over the former. In other words, momental lines, when projected in parallel, will remain capable to bracket price action throughout the entire life of the...
NJ completed the big daily gartley (grey shade) @86.5 w/o making a new low. A bit higher @86.7 completed a bullish butterfly. PA at 87 handle and back inside the channel. The yellow GAP should be filled with bullish PA on the way to bearish shark completion.
Typical harmonic formation on the 4 hour. Not seeing any further short due to 86.645 resistance. Price (as of this idea) is around, in fact passed the 1.27 retracement. Also, these patterns have 60-80% probability? We'll see.
Price is current supported by demand level @ 87.15-50 handle, but however with my previous analysis & current flat bottom triangle pattern suggest more downside in play, however the key price to watch is 87.15 handle...price breaking downside of this level & stabilizing below it will lead more downside.
I believe the we have a top here at 89.90 handle & any price below should be sold off... I trying a fading strategy for taking entry...from 89.00 to 89.90 will sell with 3 positions at different level in between them. Price above 90.10 rejects idea of short selling.
