The 6J is officially dead in the water. We will avoid this until we see defined breaks. See our last posts for break areas. If you think you "must" trade it...understand it's going to be choppy ride and it will most likely eat your trade account. Be patient and find a better instrument to trade. Keep your powder dry.
Like a rolling surfable wave that builds up before it crashes, the technical indicators tell us that the AUDJPY is about to fall.
Everything is said on the chart. One can see my previous analysis published. It looks like we can buy at around 101.5 and sell around 103.5 The swing trade model.....
The 6J has broken out (minor) to the downside and we are at the go-no go area. Aggressive traders will sell this area. We are being very cautious due to the recent false breaks. We choose to sit this out until we see a better break. What does that look like? If we break 9725 on the down side we will nibble (very small) to the downside. If we break 9920 on...
I use the currency forecast poll and compare my own view on the market with the experts who get paid for their forecasts. In this case I have used the USDJPY. I believe that the technicals signal a move down to about 101.5. Here is what the pros say: www.fxstreet.com I also use the awesome oscillator. When we see the awesome oscillator move below the zero line,...
Following my previous post on EURJPY. Traders pointed out that the pattern I posted was not a gartley. Indeed I did spot a correct gartley pattern, but I made a mistake and started the "X" leg around 138.771 when the correct "X" leg was suppose to start at 136.280. So this caused confusion and was the reason for the pattern not looking like a Gartley. The "D"...
Target 1- $102.063 at the 38% fib level Target 2- $101.811 at the 61.8% fib level Trade at your own risk
There is a Butterfly pattern on the daily chart. Price has been ranging around the 38% fib level. There is also another bearish butterfly pattern on the 4hr chart. I believe this is continuation for a downtrend to Target 2 at the 61.8% fib level.
Would only take a target 1 to the 38% fib level. Since the overall daily chart has a gigantic Bearish crab pattern. I've already scaled out of my short position after spotting this pattern. My overall bias on CADYEN is bearish. If we can get a rally and drop, i'll scale in another lot. let's see what happens.
1. Support Broken. 2. Macd increasing momentum down. 3. CCI falls out of Channel. 4. Falling RSI, 5. Starting to drop 20 MA, at the moment platau though should fall shortly. GDP increasing in Japan and return to inflation.
MACD, momentum increaseing downwards. CCI drops below channel. RSI downwards movement 20 day moving average plateu, but when starts to drop you will have a stronger sell. As Japan moves to inflation and GDP increases plus positive sentiment, teh Yen becomes more desirable.
Friends, Here is a short update: Since the signal announcement this yesterday, the $Yen plunged gradually, then precipitously towards the forecast TG-1 = 101.631. This signal followed a preceding bullish signal that say all three targets getting hit consecutively, before we turned to this short-term short opp. At this point, TG-1 remains in force and intact,...
2 high probability bearish harmonic patters are showing up. The Cypher (green) and a Bat pattern (dark purple). Looking to short at the Cypher patten around $94.36, I will be scaling in if price reaches $94.60 to complete the Bat pattern. 2 harmonic patterers usually confirms the overall prediction of where price is going to go. We will see.
The 6J is still flat lining. See our past posts. While this chart hints of upside movement we are waiting for the 6J to tips its hat. Remember...guessing is not trading!
There are many commentators and fundamental analyst as they continue to review and propagate how brilliant Abenomic is and how they will continue to flood the world with YEN in the form of Japan's version of QE, YEN will continue to weaken beyond anyone's expectation and warped view of seemingly continued massive USD strength going forward. I this this is over...
Friends, As indicated in recent predictive/forecasting model commentary, USD has gained strength. Applying a EW model, one might appreciate a supportive argument for the proposed bullish bias of the predictive/forecasting model. Fundamentals also suggest strengthening of the greenback against a continued dilutive monetary policy. Net outlook is BULLISH for...