AMTrader

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Markets Allocation
93 % forex 7 % other
Top Mentioned Symbols
USDJPY 27% | 38 GBPUSD 22% | 31 EURUSD 16% | 23 GBPJPY 11% | 16
AMTrader AMTrader USDJPY, 240, Short ,
USDJPY: USD/JPY Bearish AB=CD Pattern
103 0 2
USDJPY, 240 Short
USD/JPY Bearish AB=CD Pattern

Bearish AB=CD pattern for USD/JPY. Before entering a short trade please be patient and wait for the current 4 hour candle to close. Price may still reach the weekly R1 above, however, as long as price does not close above 111.08 the AB=CD pattern remains valid. Trade short 1 (RvR ratio 2:1) Entry: Close below 110.50 (or at market but only as long as price ...

AMTrader AMTrader USDJPY, 1W, Short ,
USDJPY: USD/JPY Long Term Bearish Forecast
86 0 2
USDJPY, 1W Short
USD/JPY Long Term Bearish Forecast

Long term view of USD/JPY with a projected bearish sentiment in conjunction with a projected bearish Gartley pattern. Ever since the bearish 100 & 200SMA cross over last August, price has been unable to close above the 114.00 level and since then has dropped well below it. Now, price is struggling to close above the 111.00 level, and even if it managed to close ...

AMTrader AMTrader USDJPY, 1W, Short ,
USDJPY: USD/JPY Bearish Trend Continuation Seems Viable
68 0 2
USDJPY, 1W Short
USD/JPY Bearish Trend Continuation Seems Viable

Bearish long term look for USD/JPY USD/JPY got rejected at a very significant level of Fibonacci confluence, namely the 38.2% retracement from 98.787 to 118.662 and the 61.8% retracement level from 114.737 to 104.641. If this weeks candle closes near to where it is now, a bearish trend continuation seems inevitable. The first trade opportunity presents itself ...

AMTrader AMTrader USDJPY, 360, Short ,
USDJPY: USD/JPY Bearish Gartley Pattern
150 0 4
USDJPY, 360 Short
USD/JPY Bearish Gartley Pattern

Now that the Fed data and interest rate decision is through, its time to look for some trade opportunities. On the 6 hour time frame I was able to draw the bearish Gartley Pattern. Looking at the RSI divergence and general overbought conditions, a retracement to the downside has presented itself. The week has almost ended, thus, it is probably wisest to trade ...

AMTrader AMTrader GBPUSD, 240, Long ,
GBPUSD: GBP/USD Projected Bullish Gartley Pattern
152 1 2
GBPUSD, 240 Long
GBP/USD Projected Bullish Gartley Pattern

GBP/USD is currently in the process of going to test the 1.3300 level as support. As it is the 78.6% retracement from 1.3254 to 1.3473, a Gartley pattern setup seems viable. If price does not reverse at the 1.3300 level, then the next potential bullish reversal level would be the 1.3279 level, which is just above point C of the adjacent Bearish Bat Pattern, and ...

AMTrader AMTrader GBPUSD, 1W, Long ,
GBPUSD: GBP/USD Two Bullish Routes to 1.5000
71 0 0
GBPUSD, 1W Long
GBP/USD Two Bullish Routes to 1.5000

Two possible long term scenarios for GBP/USD. In the first scenario, price action would grind its way up to the 61.8% retracement level at 1.3929 (measured from 1.4377 to 1.3204). Once there a possible bearish 2618 trade could emerge and price would reach down to the 1.2849 level, which of course is the 61.8% retracement level from 1.1905 to 1.4377. (The ...

AMTrader AMTrader USDJPY, 60, Long ,
USDJPY: USD/JPY Bullish Shark Pattern or Bull Trap?
63 2 0
USDJPY, 60 Long
USD/JPY Bullish Shark Pattern or Bull Trap?

A bullish Shark Pattern for USD/JPY on the hourly time frame may seem indicative of a bullish trend continuation, but may also turn out to be a bull trap. Price action was very interesting for USD/JPY this past week. After price broke above the upper resistance trend line it rallied to the 110.00 level where it ultimately met a lot of resistance. From there ...

AMTrader AMTrader XAUUSD, 1W, Long ,
XAUUSD: XAU/USD Bearish Gartley with Possible Bullish Trend Continuation
172 0 1
XAUUSD, 1W Long
XAU/USD Bearish Gartley with Possible Bullish Trend Continuation

Gold remains difficult to predict as to which direction it will take. However, from a technical perspective there is still hope that gold will climb to the upside. Currently gold is still ranging, technically so due to the 200SMA running flat since March, 2017 and fundamentally probably due to rising interest rates and quasi political stability. Though ...

AMTrader AMTrader GBPUSD, 60, Long ,
GBPUSD: GBP/USD Bullish Gartley Pattern
102 0 2
GBPUSD, 60 Long
GBP/USD Bullish Gartley Pattern

Despite some speculation that GBP/USD will crash lower on Monday, from a technical perspective those rumours might turn out to be false; thus, never speculate on rumours. Price made a very significant bullish reversal Friday afternoon at the 1.3355 level. The reason why this level is significant is due to the fact that it was the close of the candle that broke ...

AMTrader AMTrader GBPUSD, 240,
GBPUSD: GBP/USD Corrective Bearish Bat Pattern & Projected AB=CD Pattern
133 0 2
GBPUSD, 240
GBP/USD Corrective Bearish Bat Pattern & Projected AB=CD Pattern

Two patterns for GBP/USD, corrective bearish Bat and a projected bullish AB=CD pattern. Trade 1 short (RvR ratio 2.17) Entry: Close below 10SMA or at market S/L 1.3448 T/P: 1.3337 Trade 2 long (RvR ratio 5.4) Entry: Close above 1.3337 S/L: 1.3300 T/P 1: 1.3473 T/P 2: 1.3556 As always, scale out your profits and adjust your stop/loss to suit your personal risk ...

AMTrader AMTrader USDJPY, 240, Short ,
USDJPY: USD/JPY Bearish Alt Crab Pattern
83 0 1
USDJPY, 240 Short
USD/JPY Bearish Alt Crab Pattern

Short opportunity for USD/JPY. Inevitably with the DXY in free fall USD/JPY is also being dragged down. Whether this move down is merely a correction or a bearish trend continuation we will have to wait and see, for the moment at least it is bearish. There is also not much economic news relating to the USD left this week, thus, no immediate halt to the ...

AMTrader AMTrader GBPJPY, 1D, Long ,
GBPJPY: GBP/JPY Bullish Butterfly Pattern (be cautious)
102 0 3
GBPJPY, 1D Long
GBP/JPY Bullish Butterfly Pattern (be cautious)

Be wary of going long on GBP/JPY. Even without the Bullish Butterfly Pattern, last Friday's candle got rejected at the monthly PP level as well as unable to close above the 10SMA in blue; for harmonic patterns I always wait for a close above or below the 10SMA as an entry trigger. If you look at the TRIX MA indicator - custom indicator by member munkeefonix, ...

AMTrader AMTrader USDJPY, 360, Long ,
USDJPY: USD/JPY Bullish Alt Butterfly Pattern
100 0 2
USDJPY, 360 Long
USD/JPY Bullish Alt Butterfly Pattern

Long opportunity for USD/JPY. A Bullish Alt Butterfly Pattern has formed on the 6 hour time frame chart, and an entry can already be made as the previous candle closed above the entry level. The weekly S1 really does seem to be supportive, hence, placing the initial stop/loss as illustrated just below it suffices, of course you can also place it below point D ...

AMTrader AMTrader GBPUSD, 240, Long ,
GBPUSD: GBP/USD Bullish 2.618 AB=CD Pattern
88 0 2
GBPUSD, 240 Long
GBP/USD Bullish 2.618 AB=CD Pattern

Looks like the Cable might start hatching out of it's bearish stranglehold at last. The Bullish 2.618 AB=CD pattern seems to offer a 'ladder' of sorts for price to commence a small medium term correction to the upside. I am convinced that there is still more potential to the downside, however, for that to be the case more sellers are needed from a little higher. ...

AMTrader AMTrader GBPUSD, 1D, Long ,
GBPUSD: GBP/USD Bullish Shark Pattern Forming
382 0 6
GBPUSD, 1D Long
GBP/USD Bullish Shark Pattern Forming

A Bullish Shark Pattern is forming on the daily time frame in a dense Fibonacci confluence zone consisting of the 88.6% retracement measured from 1.3027 to 1.4377 as well as the 61.8% retracement level measured from 1.2589 to 1.4377. Price broke through the Bearish Three Drives Pattern above, and it looks viable at the moment that the breakout level will be ...

AMTrader AMTrader USDJPY, 1D, Short ,
USDJPY: USD/JPY Bullish Wolfe Wave vs. Bearish White Swan Pattern
156 0 4
USDJPY, 1D Short
USD/JPY Bullish Wolfe Wave vs. Bearish White Swan Pattern

Although it seems quite obvious that USD/JPY is heading down again, especially after the bearish engulfing candle of the past week on the weekly time frame, price 'may' still remain high enough for a bullish trend continuation as long as the 107.200/00 level holds, which also conveniently is the 61.8% retracement level. At the moment it is commendable to ...

AMTrader AMTrader DXY, 1W, Short ,
DXY: USD Index Upside May be Limited to Max 97.80/98.00
62 0 2
DXY, 1W Short
USD Index Upside May be Limited to Max 97.80/98.00

My previous analysis and projection of DXY had price turning to the downside at the 200SMA level already, currently at about the 94.80 level. Should price rally just slightly beyond that level then I presume the next target would be 97.80/98.00 level which is the 61.8% retracement level measured from 103.82 to 88.253. But that may be as high as price will go in ...

AMTrader AMTrader DXY, 1W, Short ,
DXY: USD Index Preparing to Fall?
75 0 2
DXY, 1W Short
USD Index Preparing to Fall?

More downside after all for the USD index? Although DXY has been on an impressive bullish rally - or stampede rather - it nonetheless has rallied steadily into previous resistance, and now has the 200SMA to contend with additionally. Looking at base USD currency pairs such as USD/CHF, USD/CAD and USD/JPY, all with the exception of USD/CAD have already started ...

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