Indices gap up on debt ceiling deal; USDJPY went slightly higher but now price is re-testing Friday's high on a possible fake breakout. If price breaks below 140.55, look for a short to target 139.97. Look for longs within the BZ, 139.61-139.99.
NDX made a huge recovery after the initial sell off, hitting the weekly BZ and rebounded; I would say the initial up was technical, price is oversold at BB extremes but the subsequent rally was due to NDVA. Price is now supported by the BZ and PZ at the same prices thus a double support. TBH, I thought the rally was rubbish but price action is looking bullish...
On Tuesday, market formed a doji and I said yesterday that expect a move down to re-test the lows (20 pips) and I was bullish DXY but indicate we might see risk off. Market hit the lows, did a fake out, then rallied higher. The BZ gave the lows and DXY did go higher and indices was risk off but still USDJPY went up. Today, we are approaching 139.89. It is a...
Yesterday's trade plan gave the top of and price sold off to the lows nicely. Price action looks bearish, looking for further downside with 13801 as max of day. BZ below is support but once 13623 break, 13503 is next.
Yesterday was much a risk off day with indices coming down but USDJPY ended flat as USD continue to shine (I am bullish on DXY and still is). Other currencies showed bearish price action against yen. But if you look at the daily candles, not much clue on the next direction; price look like it is just consolidating. Yesterday's candle is a doji; will it be a...
GBPUSD worked as per levels, hitting the top and bottom perfectly. Market closed with an inside bar; breakout soon? Overall, I am still bullish DXY, looking for a move to 105 near term and price action does point to higher DXY. Nonetheless GBPUSD is somewhat oversold thus would not discount a possible up move first. Stay bearish below PZ 1.2439-1.2443 while...
I said we could see another down move (based on equities Friday down) on break of daily BZ. Instead, the daily BZ is the lows; thus it is either no trade or go long. Market went up to near the highs. PZ and BZ below are still acting as support; thus be long bias, and scalp longs with 139.25 as target for the day. Also, look for longs with 138.09 and 137.45 as...
Hello guys, If you follow me already, you will know that I get my directional bias from the dollar index. In my previous post on the dollar (inserted below) I stated that I am bullish on the dollar which would mean I am bearish on GBPUSD. As you may see on my chart, I expect the price to run into my POI after inducing early short selling as marked on the chart...
DXY was strong yesterday but came down after hitting R at 101.75 or so. USDJPY as mentioned, 135.35 was strong R, which held the high, though it was much a sideways days for USDJPY. The same 135.35 level continue to act as R, though TBH tonight is CPI thus anything can happen. But for now, price action still look toppish here. IMO would likely revisit...
Similar to SPX, price is in consolidation. Yesterday price did a minor pullback but closed higher. Bias still to the upside with BZ supporting it. Above 13275 cautiously long to 13331, 13383. Short 13383 if traded today. Below 13251 look for move to 13213 which would be the pivot level for bounce or further downside.
Eerie small range consolidation day yesterday, inside bar. Possible break in either directions. Above 16017 - long to 16049. Possible rejection from 16049 to 15981. 15983-16017 Neutral Below 15981 - shorts to 15941, 15915. 15915 - look for bounce on divergence target 15979. Break of 15915 bring us to 15843.
Hey Everyone, Perfect start to our week with our Bullish Targets 2017 and 2028 now HIT, highlighted on the chart by our arrow. 2028 is a weighted resistance structure and as highlighted on the chart needed a EMA5 cross and lock to open upper range or a rejection at this level. EMA5 did not cross and so provided the perfect exit for now. As stated already...
Hey Everyone, Okay for those of you who have only started following this monthly chart that we have been tracking, please review all the previous updates below as we continue to track this level to level to get upto date. This has been playing out perfectly and now we finally have a candle body close above 1976 on this monthly chart, as the month closes. This...
This morning we have a potential upside move in the EURUSD and the GBPUSD based on the intraday wave structure. However the USDJPY is currently showing signs of weakness above yesterday's high and a break back below the 1DH is a sell signal. Enjoy!
Hey Everyone, Please see our 1H chart update. Our chart idea played out perfectly by starting with the drop into the retracement zone identified followed with a push up, as analysed on the chart. We took a clean buy from the retracement zone for a nice catch in line with our plans to buy dips. EMA5 failed to cross above 1993 highlighted by the circle on the...
The price currently remains in the middle of the range, which is not the best place to take a position. We are looking for a long position and we are expecting the price to retest the support which would be our entry. Target and stop loss are shown on the chart.
Hey Everyone, Fantastic finish to the week for us once again!!! We had another retest back to the retracement range and then a lovely ride back up confirmed with our activation for capturing a clean 50 pips. Our plans to buy dips playing out perfectly while price is ranging between the levels. We remain Bullish with our long term plans and will continue to track...
Market went higher but sold back down to daily BZ. My long term level 4150 provided a nice short. But how bearish the current move? Price opened within the BZ; re-tested yesterday's low but is now higher. Now staying above OP, we could first see a move to 4110 and even 4120. If market open European session at around 4110, look for possible reversal with...