This is my view on Gold. We had a nice relief rally from 1125, price is currently at a strong SNR zone around 1200. If price can get resisted here, I see it going towards 1050. If it breaks above this level, I see it going towards 1260-1280 where the trend-line resistance is the last line of obstacle for it to clear before it can fly any higher. I will say...
Hey guys, I see a nice shark completion on GBPAUD. Will be waiting for a reaction like a bullish candlestick reversal at 1.58 before I will go long on this. Early week, this is likely to head lower. Have set an alert on this and will look at this pair again once it reaches my desired entry zone. EP: 1.58 SL: 1.5450 (350) TP: 1.68 (1000) This is a daily chart...
Hey guys, this is my view on AUDUSD. It is likely that USD correction continues next week sending XXX/USD pairs higher. Based on harmonic patterns, I expect AUDUSD to continue moving up to 0.7750 to complete a bearish shark pattern. I will enter short on AUDUSD if price rejects the sell zone at 0.7750 in orange. 0.7750 is a great level to sell as it also...
Hey guys, this is how I am spending my Sunday, charting on tradingview to share my ideas. After last friday's price action, I am convinced that EURUSD is heading higher, perhaps towards 1.12 to complete the bearish shark pattern. Meanwhile, we can look for potential buys off the channel lows highlighted in blue. Targets will be the orange box which is our...
Hey guys, The US Dollar index (DXY)charts are telling me about further corrections on the USD. I expect USD to continue weakening to around 98 before resuming its uptrend. Expect US stocks to also correct together with this before we scoop them up at the low again. My prediction will be Trump's talk will lead to a temporary drop in the stock market but overall...
Hey guys, just execute a long off USDCAD around 1.3070. Best zone to execute my long is 1.3030 which I think I have missed it, so I am buying slightly higher at a worse R:R. Price has bounced off this shark pattern and I am aiming for the next SNR zone at 1.32 for profit taking. SL will have to go below 1.3 at 1.2980. I do not expect this to be a real big...
Hey guys, this a great setup on EURCAD you should be looking at. Bearish Gartley completed last week. If you zoom into the m15 timeframe, you will see another deep gartley completing at 1.4. Will go short upon a rejection of 1.4. These are my levels. EP: 1.4 SL: 1.4070(70) TP: 1.3860(140)
Hi traders, another setup on my radar is EURJPY. Last Friday, it broke down below a bear flag. My bias has turned bearish for now. Next I will look for a retest of a strong SNR zone to short. I identified that zone at 121.90 which is a previous SNR zone and a potential HNS shoulder level. I will be entering this setup on a pending order as it is a with the...
Hi traders, I am watching pound closely next week. At 1.2065, there is a potential buy off this bullish shark pattern. These are the rules I will follow to take this trade. 1. Do not use a pending order! There was pound news over the weekend, if it gaps down you might get stopped out easily. Wait for price stabilization at the PRZ zone and enter when RSI leaves...
Good morning traders, I have just executed a short on EURAUD on a break of support trendline. I expect this pair to head towards 1.4140 sometime this month. Long timeframe trade. SL is set at 1.4480. Good luck and good trading guys!
The USD will be strong in 2017. Along this charge up, there will be minor retracements. Right now we are seeing a retracement on USDJPY where it should hit minimally 116. Price hit a cluster of resistance in the daily timeframe with a double top completion. A break of 116 could send it towards 112 which is a strong support and resistance zone. 2 ways I will...
It was 3 weeks ago where I was talking to a my trading buddy boon hooi about where Bitcoin is going. Both of us stared at the monthly chart of bitcoin and we saw a harmonic pattern completion. Indeed, any instrument with high liquidity works well with harmonic patterns. Bitcoin completed the shark pattern at 1050 and dropped almost 20% to close at 820 on...
Next up is the indices, I remain bullish on the S&P index. Do not chase the high, buy on retracement around 2274 with targets up at 2350. (Linked to my previous post on a bearish crab pattern on S&P) SL will go just below previous low. EP: 2185 SL: 2075 (110) TP: 2350 (165)
Happy new year folks, I am finally back in the markets after a 2 week break. 2016 is over, whether you traded well or traded badly last year, always remember that the market does not remember it. Do not let past failures affect you and do not let past success cloud your judgement. Let's hope we begin the year by having our first winning trade! My first trade...
Hey guys, I have put in a queue to buy GBPJPY at 145.55. This is a very strong support resistance zone for me to do a trend continuation trade. Do not be too eager to chase the highs now, if it comes down to my desired level, I will be long. EP: 145.55 SL. 144.80 (75) TP: 148 (245)
Hey guys, not sure if anyone missed me. I went on a impromptu vacation to Vietnam for a week. Vietnam is so beautiful, I mean both the beaches and the babes. I just got back yesterday. Just in time to watch the FOMC news. Updates will be more regular from today onwards! The rate hike happened! Another 2-3 more rate hikes will happen in 2017. This...
Hey guys, this is rare and something I have yet to see before in my 10 years of studying the markets. Usually, the USD strengthens and the stock market drops. This is the only time where I see the stock market go up together with the USD. I am hoping the bullishness in the stock market will be short lived, I hope the market will drop so that we are able to buy...
Hey guys, one chart I am very interested to monitor closely next week is DXY which is the US dollar index. It measures the USD against a basket of other currencies and is the most widely used chart by traders to determine the strength of the USD. You can read more about it here --> en.wikipedia.org Hourly Chart Comments I see DXY getting supported at 100.66....