IDEA: Daily Pivot Down, Trade Long S2-R1... The Daily Average should cause nice resistance to get a sneaky short before we get long. Optimum entry prices are marked with a bar in the stop zone. Also want to see Fibonacci support & resistance along the way! Short: Will wait for the price to go as high as possible before getting short. Although resistance is...
IDEA: Daily Pivot up, Trade Daily S1-R2... Buy the dip Technicals: Daily Average Pivot and the trade entry pivot are at the same point. Expecting this to cause strong support for the long move @ Daily S1 Pivot 49.036. Profit target set at Daily R2 Pivot 51.082. Looking for Fibonacci support on the way up to profit target. Fundamentals: North Korea fired another...
IDEA: Technicals: Expecting long move @ Daily S2 Pivot 1309.78. Profit target set at Daily R1 Pivot 1334.71. Looking for Fibonacci resistance on the way down the channel to the entry and support on the way up to profit target. Fundamentals: North Korea fired another missile over Japan a few hours ago. Nuclear tension has seen gold prices rise into the weekend....
So generally the MPC vote is expected to be Neutral and if we look through a bit, if it does comes out 7 Hold to 2 Hike as expected, GBP should be weaken. Now my intention is to look for clue if the market has already priced this in: on average, up to this point GBP is down with the most down being GBPAUD. Let's say the trend continues to in the next hour, my...
Market is Net Sell USD, thinking it's probably will miss the CPI data despite the base expectation of a beat. Now actually I think it does even need to beat the expectation rather just an on target outcome will be enough to send the USD higher. We just had the GBP release which are very good. Eventhough the vote was Neutral as expected, there was hint of BOE...
IDEA: Expecting long move with support at 14127 @ Daily Average pivot & resistance @ Daily S2 pivot 14538 . Looking for Fibonacci support along the way to confirm the trend move. If daily average fails, expecting further support at 14049. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading...
We have USD PPI data coming up soon and I've been trying to decipher how the market may have anticipated this. Retail sentiment is Net Long of USD so my base expectation is unless its a better-than-expected number we shouldn't see too much of a jump in USD. Historically a beat is ~45% chances, going back to 2007 data. Now to position myself to the trade, there is...
Waiting for a daily candle to close above 114.893, will be looking for either (1) an engulfing candle or (2) a break and retest of structure high. Not much to it besides basic price action and pivot points. The current consolidation inside the yellow zone leads me to believe a bullish trend will commence here in the next few days. Areas of interest will be the...
Hey Traders, In this idea, we are going to take a look at the recent price action of Gold. I am seeing a couple different patterns that may indicate where the price of the metals are likely to go next therefore we will be taking a look at how I plan to trade these patterns with the probabilities in our favor! I will also be sharing a couple crucial elements to...
This is very simple thesis, I want to go long into the GBP expected good data. Yesterday CPI is a very good encouragement and the market should keep trending upward toward the Cash rate vote tomorrow. I missed the intial drift from Asian session. I'd wish I can get up earlier or devote more time for this but simply can't with my Full-time analyst job...
This is related to my Long GBPNZD trade. As mentioned I thought GBPNZD is a bit over-extended but again I want to go with the fundamental Long GBP story anyway. Amongst all the GBP pair, GBPUSD is the one retails are net Short and I hope to bank as their SL gets hit. Fundamentally though I do understand some of their view as also think USD is supposed to get...
I had a really tough time choosing which pairs to trade for this news. Early morning the surprisingly dissapointed Business Confidence releases sent both AUD and NZD lower. As these two are the ones I've consider short against GBP I now face with a dilemma. If I am to go full Short now, I have a little to bank as the move may have overextended but then again...
NZDCAD erased all the gains from CAD rate hike. NZD is a high yield currency so understandably if they gain significantly against low yield currency such as USD but to gain a lot against another commodity currency such as CAD is puzzeling to me. Next week there is not much news for both NZD and CAD but the most significant data left this week is the CAD...
Last weeks candle was quite bearish, so far Monday it's been retracing a bit as expected. If we get a break of S1 and trend support, enter the short trade. Set the margin for error wide enough, some major news releases coming up: - CAD Rate decision tomorrow - Thursday ECB rate decision - Friday unemployment data CAD
The USDCAD pair has been sideway after a quick drop and rebounce as 3 of the Fed members spoke dovishly. Today is gonna be a big day for CAD. Generally since Bank of Canada is expected to keep rate, the hint will be in the statement so we may see a bit more volatility back and forth during the announcement as people figuring out their next move. Looking forward...
Idea: USDCAD short to Daily S1 pivot . Want to see strong resistance at or before 1.4338. Profit extension 1.122327 Daily S2 pivot if price can break the support line. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own...
bigger support is holding the price and also tiny support broken - look to buy reversal pattern on tiny support untill resistance. risk small pips here . Best of luck :-)