Similar to GBPUSD, I called for a short based on bearish divergence and it worked well but very bearish price action resulted in huge downside and formed a outside candle. Much bearish and trend is down. Price is near a key level now, will wait for a recovery before further downside. Watching for a pullback to 1.2673/1.2691 for a short to target 1.2595, 1.2573...
On Thursday, market gave a bullish price action and on Friday I said, look for a short for a move lower first before going long. The short worked very well to hit our price target with little drawdown but the longs did not work as EURUSD closed near the lows with an almost outside candle. Price action is bearish, trend is down. A rally to 1.0821 or so would be a...
Levels worked well yesterday though my path was messed up. I was looking for a up move on bullish divergence, reject by the PZ for a down, find support and a rally higher. That was what we got, but price only hit the strong level before the down move and it made a fake breakdown below my buy level before a huge rally. If you miss the first rally off the bottom on...
I was bullish EURUSD yesterday on the divergence which worked well, not perfectly. Initial long on holding of strong level did not work; the second long off the support below almost exactly held the low, before the rally. Rather huge rally, going to the highs, but still below Wednesday's high. Lots of levels above, 1.0885 strong level, 1.0865 strong level below,...
GBPUSD is basically stuck in the 180 points range for over a month. I was looking for a possible breakout yesterday but no, price is still in a range. Again I have no strong views on GBPUSD except to possibly take it level by level. Yesterday's move formed yet another doji but a bearish one. It is reasonable to expect GBPUSD to go down further today given that...
The path I gave was rubbish at best, but the levels worked perfectly. I was looking for a more bullish case and it would be a test of 1.0865 before a short down to test below support and rally higher. But we dip initially, didn't touch the buy level but made a higher low and rallied to touch the level at 1.0886 perfectly below a drop down the buy level. Is it a...
Yesterday I was looking for a possible up move after a re-test of the strong level but price went below the level at 1.2686, tested from below and failed and sold down on data to the next strong level at 1.2642 before rebounding strongly back to the highs. Price is much in range, waiting for FOMC today. Price is stuck at the 78 Fib and is coming down. Price...
I gave a few possible scenarios for EURUSD yesterday; and of course one of them worked out, not exactly but similarly. I gave a long on a retest of 1.0800 but the lowest it went was 1.0810 before going to 1.0858; but the path was correct. I also gave a possible short off 1.0860. I said it might be rejected by 1.0860, but base at PZ before going higher. We hit...
Yesterday GBPUSD hit our sell level at 1.27 exactly before going down 40pips to a lower level and bounced. Unlike EURUSD, GBPUSD is stronger and IMO since 1.2686 strong level is holding (good level to go long from) look for further upside to target 1.2786.
I was looking for a move lower yesterday for EURUSD from 1.08600 to target 1.0800. Price just opened and based at BZ, sold down to 1.0800 perfectly and rallied 40 pips up. Market seemed to be trying to find a bottom. Price action IMO is neutral but trend is still down. I am looking for price to possibly move to 1.08600 (IMO likely) and watch the response there. A...
Similar to EURUSD, GBPUSD came down first, to the support below perfectly, before the 80pips rally and then the dip. Weekly candle is a outside candle but market gave a closer lower than that of previous week. Further downside ahead? Daily candle wise is a tweezer, which is neutral to slight bearish. Looking for PZ to hold for a move lower, targeting 1.2686...
On Friday I was looking for a pullback then further downside but instead EURUSD came down first to the first support below, hitting it perfectly for a 60 pips rally to the top of the BZ before a pullback down of 40pips. Levels wise it worked perfectly to play it level by level, Weekly price action is bearish; with a candle similar to that of the previous week. So...
GBPUSD also came down yesterday but unlike EURUSD, it is less bearish. Price hit the key level perfectly yesterday before rebounding and is holding nicely above the WBZ. If the plan I gave for EURUSD is to work perfectly, and GBPUSD continue to show its strength, we will be looking at GBPUSD to possibly test first resistance above at 1.2740, before a rejection...
Yesterday's plan and strong level worked perfectly. EURUSD spiked to that level on ECB data and just came down 80 pips. Looking for further downside today. Price is hovering at the strong level now. Looking for a possible dip to 1.0862, confluence of levels for a down move to 1.0780.
GBPUSD as per plan was a long for yesterday and it just opened at the key level, based and rallied for 90 pips; but it missed the key level before coming down on a double top. Daily candle is green with a long wick above; while price opened above the BZ (trend is up). Overall, we see price on daily is in a range, and price is at the top of the range. Will we...
I was bullish EURUSD yesterday and it served well. EURUSD opened at 1.0850 or so and it just go up. I said 1.0880 is a level where we can get a pullback and indeed, there is a 20pips pullback, price held at PZ then rallied another 60 pips up. However price did not hit my price target before it pulled back. Daily price action is bullish but price closed just at...
I also did not give a complete plan for GBPUSD yesterday but I was looking for a higher low to go long for a move higher. That was much wrong as GBPUSD sold down to new lows, before we see a recovery during the US session just above the strong level 1.26880 (which was my buy level). Daily candle is a large range with long wicks in either direction. Price action...
I gave several scenarios yesterday so of course one of time has to be right; one scenario I gave was a move higher first, to hit the strong level before a short from 1.0906 to 1.08664 and that worked perfectly well. I also said to go long at strong level at 1.0840. The lowest it hit was 1.0820 before the move up, now 1.0856. The other scenario I gave was a long...