the above to show the performance of USD/JPY since the beginning of the year divided in weeks.
H1 chart (compressed at max) shows an uptrend supported by two SMAs. The slowest should provide a balance of the trend and should correspond to 50 line in the RSI. The longest should provide support.
At the moment price is supported by the 450SMA with 150SMA...
this is just a snapshot of DXY performance in 2019 week by week in H4. Interesting will be to study the last 10 candlesticks in the W chart.
RSI making lower tops compared to price.
2018 tops were attacked again at the beginning of 2019. Start 2019 bullish. Maybe time to pull back.
My view is not formed yet but...
week10's Rally reached 59 this Friday morning but failed to breakout for higher hights.
Despite the Bull Run is still above 50RSI and supported by 50SMA, Oil is pulling back a little bit just before lunchtime maybe to re-test 58 to breathe and end the week.
JUST TO NOTE: 1 future contract of CL (approx $3.500) bought last Friday and sold today would...
the arm wrestling between Trump vs OPEC shifted in favour of Saudi Energy Minister Khalid al-Falih in mid-Week10. The barrier that Trump tried to build with his tweet has been broken and sentiment is now heavily overbought.
The rally was triggered by remarks by U.S. special envoy Elliott Abrams that Washington planned “very significant” further sanctions...
if you drag backwards the above chart you will find LS in week4.
LS (left shoulder) week4
H (head) week7
RS (right shoulder) week10
IMPORTANT: RS was the idea, opportunities were along the way. At 1310 Gold will start facing resistance. Be carefull.
For a complete picture please refer to my post dated March 10 in the related ideas linked below (GOLD:...
on Monday morning Gold retrieved from Friday's hights along with sentiment as shown in RSI to find support on the 100SMA at approx 1290 in the afternoon.
Retail Sales were up today but faild to uplift DXY above 97.40 turning short term sentiment for US dollar into bearish (positive for Gold).
AToW Gold is still supported by the 100SMA even if sentiment...
The U.S. dollar index is a measure of the value of the U.S. dollar vs a basket of currencies which include the euro, Japanese yen, Canadian dollar, British pound, Swedish krona and Swiss franc. The euro holds the most weight versus the dollar in the index, constituting about 58 percent of the weighting followed by the yen with about 14 percent.
following the move down on Thursday Week9 I would expect bearishness to continue ranging throughout week10 below the SMAs at least until mid-week.
On Monday morning, same as GOLD, before 9 o'clock, the pair may reach for the SMAs just above 1.12526 to be pushed back below at opening towards 1.12 again. Maybe a potential bull trap forming on those...
GOLD could range below 1300 all week10. On Monday morning before 9 o'clock price could break above 1300 level but if pushed back below by 250SMA at opening price will form a bull trap that would look for support on the 100SMA.
Thank you for your support and for sharing your ideas.
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111 is key support here. Since the beginning of the year following the big dive to 105, USD/JPY climbed reguralarly from 108 to 112. Week8 brokeout without hesitating for the upside to hit 112 and week9 ended with a retest of 111. Monday morning could still hit week8 low and if it does I will probably go for a bounce. But after that I expect a week a...
following week9 fall I would expect some period of horizontal consolidation throughout week10 above 124.420.
However, on Monday, if price falls below 124.420 before 9 o'clock, I will look for a rebound from 9 into lunch time.
I am expecting a bear trap on this level but for the time being it is just in my head and I have to wait before I can take any...
EURUSD, together with GBPUSD and USDCHF is a big winner for week 10. They moved as expected in our Week 10 analysis and holding them through the week would have no surprises for the traders trading these pairs. Congrats to traders making the wonderful trades.
In Week 10, we see EURUSD making big movement and ending the week with a sharp V shape reversal. I am in...
USDJPY did not move as expected in week 10, rather, it consolidated and seems to complete a big reversal formation.
In Week 10, it did not rise, but rather formed a seemingly inverted U shape, which indicates a reversal. It seems like the bull power is dying off and the trend would be moved by the Bear.
In Week 10, USDJPY still remains an unsure pair even...
USDCHF moved exactly to what we expected, pretty much like what happened to our analysis of GBPUSD. I hope you managed to make good profit out of it.
in week 10, USDCHF completed its 3 level bullish trend. On Friday, it made a fast reversal, no double top seen on the H1 chart.
The reversal can be seen as a inverted V, and it broke a new level, so we do not...
GBPUSD moved as expected for week 10, and if we were to enter a short starting Monday, you would enjoy a straight profit through the week, how awesome is that.
In week 10, we the GBPUSD completed a 3 level bearish move, it was a great move and I am sure it trapped many short traders.
Looking at the current analysis, the GBPUSD seems to be forming the second...
GBPUSD made a sharp rise in week 9, and it was the opposite of what the analysis showed in week 8.
In week 8, it was expected that the pair would move downwards, rather than a rise because of the reversal pattern spotted.
A red flag would have been spotted given that a long consolidation occurred and the price did not shift down as expected.
For week 10, I...
USDJPY has continued its upward move in week 9 and it showed no mercy in its move. USDJPY made fast price movement and reversing back upwards after a seemingly bearish reversal move.
I continue to avoid trading USDJPY for week 9 for a simple reason. I was unclear of the direction.
However, the move in week 9 seems to have pointed out that the pair would...
USDCHF continued to consolidate for Monday in week 9 and in the end, broke the low of the whole consolidation zone. It reached a new low and formed a level 4 bear trend in the chart.
I was long for this pair, so I am trapped in week 9. Getting trapped in the wrong analysis is no joke. It took a good 15% off my overall equity, combined with all the losses of...