FinancialGamblR

FinancialGamblR

GBPNZD has been such a weird pair for me. It gives off bearish vibes as annotated in my original analysis. As labelled on my chart, I entered short last week and got stopped out a few days later. Now that price entered and then exited the previous range on the downside, I'm enticed to make another attempt at a short entry. Plan is to wait for 1-2 more daily...

FinancialGamblR

Back in October, I managed to capitalized on the initial range breakout. Another momentum play has been observed based on the price action detailed below. Price forms a lower high, which also indicates that we're likely seeing a price ceiling. Momentum picks up towards the downside on the neckline break. The range era has come to an end as price breaches...

FinancialGamblR

The price action I've observed on the daily timeframe points to a very nice bearish sentiment in five key points. Price peaks in August by forming a range, which breaks near the end of that month. Consolidation forms shortly after and downside momentum forces price to break below the lower range boundary. This marks a technical trend change as defined by the...

FinancialGamblR

EURGBP is not the most trending currency pair, but I do believe are some momentum plays. They're slow to form, like taking all of last week, but the trend change does spell some opportunities. There are two key points that signalled the reversal and hold. Price broke above a consolidation that I marked for a reversal change signal. Shortly after the neckline...

FinancialGamblR

Observed a reversal and channel break on NZDJPY. It's a bit too early to tell at the moment given that I haven't seen anything structural over on the weekly timeframe. But, getting in early does help ensure a high R:R if this trend holds. Over the past two months, I've marked four points of interest: Price breaches previous high formed around mid-June of this...

FinancialGamblR

The recent price action on the S&P 500 has been very interesting. While the long run outlook for this index is up, the recent price action tells a different story. The S&P 500 experienced an excellent bull run from April 2020 to December 2021. The year 2022 was shaky with huge whipsaws at just about every other month. 2023 looks like we might be getting some...

FinancialGamblR

EURJPY has been trading in a range between 157.139 and 159.336 since early August. Earlier this week, price finally broke below the lower range boundary and it looks like price will remain below it. I currently have a bearish sentiment. Although price may take a pause post-breakout, I anticipate continuation to the downside will remain likely as this reversal is underway.

FinancialGamblR

Price bottomed out mid-September and has been trading in a consolidation since August. After the initial break in the beginning of October, price entered another range (small pullback). I'm currently seeing an upside breakout coming out of an accumulation. This is an indication that there is a good swing trade opportunity here.

FinancialGamblR

Price made the original high on September 27th. A few days later, a retest of the high occurred on October 3rd. After today's New York close, price continues to push to the downside. As long as price holds below the labelled neckline at 0.91492, I believe we can expect a bearish outlook.

FinancialGamblR

The euro seems to be bearish against a basket of other major pairs. As price reverses from mid-August highs, we've seen two consolidation ranges. Price is currently in the process of breaking out of the lower range boundary of the second consolidation. I expect momentum to pick up.

FinancialGamblR

Quick update on the CHFJPY pair that I've been watching for the past while. the reversal is underway. After a quick consolidation, this pair continues to selloff. There's a swing trade opportunity underway as price is breaking the lower boundary of this daily range.

FinancialGamblR Updated 

EURSGD started consolidating at the beginning of September and then broke below this range 14 days later. Price retraced back to the lower boundary of the previous range and is currently holding below. This is a good indication that selling pressure remains strong. As long as price is holding below this range, a swing trade potential is possible.

FinancialGamblR

FOREXCOM:AUDSGD has been trading in a range since mid-August. Price not only broke above the upper range boundary but it also remained closed above it in today's session close. As long as price remains above this breakout level at 0.8765, a structural reversal is underway. Since this breakout move and how it closed off, I remain bullish with an upwards...

FinancialGamblR Updated 

FOREXCOM:GBPJPY has been in an uptrend since April of this year. Price stabilized after hitting the 186.547 highs in late August. I plotted a daily range based on how price traded over the past month. Today's session close marks a clear indication that price is drifting to the downside. Structurally speaking, I am directionally bearish. If price holds below the...

FinancialGamblR

In my previously published idea, I expressed by bearish opinion on $FOREXCOM:CHFJPY. Looking intraday at the 4-hour timeframe, my bearish sentiment has weakened. The current 164.5 lower boundary maintains an unclean hold. However, this latest price breach lower was rather weak. After price crossed below this level, it quickly traded above it within the next...

FinancialGamblR Updated 

I continue to focus on structural moves on higher timeframes. This is another setup I identified, and here's a breakdown of how I derived my downside bias. FOREXCOM:CHFJPY has been in an uptrend since January 2023. It topped out on August 21st of this year. Price retests the high and fails to break higher. Just a day after price retests the daily high,...

FinancialGamblR

Several Australia dollar pairs seem to have a daily reversal underway. Another pair, FOREXCOM:AUDCAD , recently saw a breakout as well. Price traded to as low as 0.8655 and then formed an upper range boundary at 0.8765. Earlier today, price breached this upper range boundary and managed to above it. Given this clean level breach and hold, I expect further upside ahead.

FinancialGamblR

Similar to my EURAUD post, I see downside potential in the EURNZD pair as well. I plotted upper and lower boundaries of this daily range based on last week's prices. Earlier today, price sold off, crossing back below the 1.88293 lower level. Not only is this signalling that price is unable to hold back within the range, the bearish candle is also an engulfing...