After price formed a double bottom at key level support, a strong bullish impulse took place breaking all barriers of the downtrend structure. Price closed this Friday with a bullish engulfing candlestick breaking above resistance along with the major descending trendline. Will be anticipating a slight pullback to retest broken resistance (61.8 fib) as new support...
After my colossal mis-read of the risk sentiment I managed to get out of GBPJPY at breakeven. I now expect the Kiwi to be bid as a more risk on sentiment and recent bounce in economic data should support the antipodean currency. Given the risk on tone and the combination of strong Asia equities close and Kuroda's comments pouring water on any plans to scale back...
EURCAD Trading Bias: Short Technical Strategy: Re-test of broken rising wedge Fundamental Strategy: Shift to risk-on sentiment with news regarding US-China trade relations *IF you do not know how to trade using this analysis please send me a PM for help*
On Oct 5, did an analysis on Eurjpy where the trade was triggered only 3 days later. From execution to achieving the exact Target profit was a total of 8 days. They always ask what will you do differently if you get to relive your live again or if you are young again? But the interesting thing about trading is that you get to relive redo and reenact your beliefs...
The usdchf hit a low of 0.9540 before retracing to 0.9960 . That's a whopping 460 pip of retracement. Thus what's the revelation? U can never be too sure about the extent of how much a currency pair would retrace and if (surprise surprise) it could eventually even start an uptrend on its own. Such is the reality. The analysis is as good as it gets at the point of...
A Eurusd short was attempted at the break of 1.1450 which was shortlived as it has chosen to reverse its original course of action. At the moment as long as prices maintain above 1.16 more upside is expected with a probable target of 1.1750 Any break below 1.1540 would be a warning sign to reassess all long positions initiated.
Intraday (refer to top left chart), price almost touching the weekly range. When that happens, I am biased on a retracement. Mid-term (refer to H4 and D1 chart), price have touched the Monthly projection and tested 87.000 price which was rejected mid May 2018. Plenty of trading plan can be produced from this. Bearish Engulfing Candle on H4 and/or H1 would...
USDJPY is benefitting from Risk-On tone and higher US yields. We have also printed a low-volatility breakout and hence expect to see further upside.
Italian politicians are attempting to calm the markets. Today this seems to be working, and driving risk-on. Eyes on the key levels.
After a great dollar rally, gold confirmed a trend line yesterday. After slight pullback it is testing the level again. A break can trigger a short position with a good Risk-Reward ratio. So far the dollar strength seems to continue and unless political tension escalate, like Iran/China trade/North Korea and so on, selling pressure on gold should push the...
We have been hearing some negative sentiment in the market, about how the next recession is near and coming... The thing here is you need to realize where you are 'hearing' such news from. Ahem... most of the time, likely from the news or media. The question here is are they really that reliable? Well... based on our analysis (not the AUDJPY of course), we are...
Generally, the market will either be in a risk-on or a risk-off environment. During uncertain times, the market is considered to be in a risk-off mode where investors prefer to park their money on lower risk investments. During recovery or bullish times, the market is considered to be in a risk-on mode where investors are willing to park their money on higher...
Rationale for the plan : 1. 'Hawkish' statement from Powell 2. Equity markets as of now is positive. Potential Risk-On mode today. 3. Technical Sentiment is bullish USDJPY as price making higher-highs /lower lows since testing 110.900 handle R isks for the plan (that could invalidate the plan) : 1. Poor U.S Prelim GDP numbers later (Forecast 3.3%, Previous...
Major resiatsnce formed on weekly chart around $1250 even handle, fib level and structure. Now double top forming H4 looking to trade back down T1 $1232-30 then extended target of $1205
As we mentioned in our previous note that dollar may not be able clear 115.10 area. After having a series of central banks decisions, Markets are posing toward Risk-On mode now. AUS, Kiwi along with stocks welcomed Fed's softer tone. Fed remain dovish with respect to market expectations and turned down the hast for raising rates. On the other hand Boj...
We closed above the all time high at the end of July signaling MAJOR bullish sentiment. We came back to retest that key area over the past week and then closed out this week with a nice low test in that area. Key Lines are based on Marty Armstrong's Socrates model.
Trading for this week: 1. My plan for next week focuses on point "3." from the previous post - I am waiting for risk-on or risk-off assets to confirm investor conviction by using USDJPY as a barometer for net risk sentiment. Despite the market uncertainty and high volatility UJ last week traded within a 200pip range for the between 101.3-103.3. Therefore, I...
Expectations vs Reality: 1. Following the referendum decision on Friday, as expected GBP sold off 10%+, the FTSE plummeted in a similar fashion and global risk assets sold off across the board, but FTSE/ Risk recovered a significant amount of those losses into Fridays close and for the rest of the next week.. So what happened to BREXIT? - Such behaviour would...