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The EURAUD has been oscillating in a triangle for sometime and until last night closed below this trendline support.
Expect movement to the next support level at the 38.2% Fib Level which would give some pretty good Returns based on a tight stop loss above the trendline which has been broken!
Observation from the chart looks like we may have a double top on the Daily timeframe. If this is confirmed then we could see a big move down.
The way to play this is to place pending Sell Stops below the 7000 area and target the nearest monthly pivot in the 6825 area.
Oil has taken a turn to a more bullish trend in recent weeks due to OPEC's influence and also a time of year where the northern hemisphere uses more oil in demand compared to summer time.
Oil although demand > supply is helping oil prices, is due for a retracement and with a resistance block up ahead and the indicators gearing towards oversold (a.k.a. "oil you...
Copper on a recent rally looks to have respected a long term trendline and is due to retrace although there may be room for a bounce and re-test of this trendline before resuming downwards to the 2-2.1 price area
USDMXN has been on a bullish turn but is about to hit a sell zone and is showing signs of exhaustion based on confirmation of wavetrend and the RSI showing divergence. I'm going to let this rise somewhat before showing some price action that would confirm this behavior is to be played out.
EURAUD is poised for a big rise based on some trend reversal patterns identified earlier in previous posts.
Since this rally, there has been no retracement on the current timeframe and a long term trendline has formed indicating that there could be a rejection and a retracement move ready to happen and towards this weeks pivot.
Stops above the trend line in...
The Dollar Bulls are back in favor as data although somewhat not ideal seem to support a rate hike this month and it seems that investors may be pricing in this rate hike.
A nice trendline has formed and the Dollar has broken it to the upside which means a potential move to the North! Await for the retracement and upon either a bullish candle or pin bar type...
A mixed reaction ahead of the recent NFP since there was an FOMC hike focus on the jobs number. The results weren't that bad, nor were they amazing but the key is the numbers support a rate hike in September and technically, looking at the chart we have a break out and a resumption of a long term trend North.
Keep your eyes peeled for some strong movements in the...
You could say this is trading in a large range and between the two pairs, there's certainly not one which is stronger.
Look at the retracements each time a top has formed??? Some decent moves South to be made here!
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The strength in the Kiwi Dollar has become the greater compared to the Euro. Here a nice triangle with an uptrend line has broken and the daily just about closing below. Await for Monday and if a resumption of the downtrend continues enter shorts and aim for 1.4978 a nice decent short.
Then await for a retracement, preferably back to the trend line and enter...
Here another Tea Cup or Bullish Crab has formed, if obeyed would indicate a change in trend and a significant move upwards. There are some missed Weekly/Monthly Pivots above (Scroll on post to find). Wait for a retracement before seeking confirmation that the move upwards is in place.
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GBPAUD has recently surged on good economic factors, mainly the Brexit issue and how well figures suggest after the shock result. There is divergence on the RSI and the trendline formed if broken could be a lovely retrace. There are more missed pivots above rather than below so it lies with the strength of the Aussie Dollar on whether this can move South.
EURUSD has rallied on the back of a weaker dollar, however I feel that the tide is turning and is ready for a retracement. Stops just above for a quick stop out in case of a break out. There's a missed weekly pivot which is an ideal target, however I'm suggesting we aim for half way or 1.25 area.
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The Yen has been on a magnifcent run in recent months as a safe haven, however I feel the Dollar may be trying to bounce back this week and therefore with a breakout of the triangle we could see the missed weekly pivot as a potential target.
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So a tea cup as I call it has formed. What is it? Well, a clear reversal has occurred from the recent lows and you usually get a V shape or a quadratic curve like pattern and then a slight dip (the handle) before a change in the trend. In this case, I would say 90% of the pattern has completed to give me confidence that the trend is willing to pursue a bullish...
EURUSD has rallied in recent days on the back end of a weak Dollar. A double top has formed and we could see price retrace somewhat towards its current weekly pivot, which is yet to be hit.
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Take a look at the recent rejection of the long term trendline which happened yesterday/this morning (BST).
This is a good time to now enter shorts with this pair and hold onto them for a long time. We can expect a resumption of the move down south to the 0.7 area.
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