USDCHF made a fake move in week 3, showing a double top look alike price pattern in the first half of the week. I personally entered long for this pair, which I profited from the move. It went on to push higher persistently, all the way to 3 identified bullish zone. It ended off the week with a seemingly double top. It's almost 75% complete, we just need the...
GBPUSD, an interesting pair which exhibited a situation I known as a trend reset. In week 3, our analysis showed that GBPUSD would be heading for a drop, which it did, for the first half of the week. I was holding on to my short and eventually, the dip earned me about 14% increase on my overall equity. The unexpected bullish move came after the dip, it went all...
EURUSD made a good drop in the whole week of week 3. Congrats to all traders who shorted this pair, its a good trade with very little consolidation in between and the movement is kind of expected as well. For week 3, I did not participate in the movement, even though our analysis in week 2 favored shorting for week 3. Looking at our week 3 analysis, it seems...
No surprises here on USDJPY's week 3 movement. It has gone up steadily, almost on a predictable basis, which is the kind of trade professional traders are looking for. The name of these kinds of trades might be known as boring, but it is the best, as it gives traders what they are looking for - Profit. USDJPY successfully broke the previous high in week 3, I am...
After the massive drop in week 1, USDJPY confined itself in a ranging state. In week 1, the analysis points towards a bullish trend, however, it was for USDJPY to make a second leg to the low, forming a complete reversal pattern and to rise after. However, what we have seen in week 2 is quite different. The pair did not move down as expected, in fact, it is moving...
GBPUSD's week 2 movement largely confined itself in a range until Friday, when it rises about 120 pips and ended the week with a bearish candlestick combination, which I took the opportunity to enter a short. I did not change the label of the chart because I wanted to remind myself of this incident where the price went up above the supposedly reversal level and...
EURUSD went ahead to create a bullish level 3 in week 2, which I did not expect it. In week 1, the analysis was for EURUSD to drop after a reversal formation was formed at the bullish level 2 zone. Looking back at the analysis, the price pattern convinced me that level 2 will be the one reversing rather than level 3. That's why I did not change the marking of the...
USDCHF week 2's move ended near the opening of the week. Both long and short traders would have suffered losses somewhere along if they held on to multi-day positions. The winner would certainly be the day traders. I was shorting the USDCHF on Monday and exited sometime late Monday or early Tuesday. The analysis of USDCHF was for it to rise in the longer term, but...