IamAdamJowett

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About me http://adamjowett.com/about
Joined Australia IamAdamJowett
Flatter than a pancake
Markets Allocation
89 % forex 11 % other
Top Mentioned Symbols
FX:AUDUSD 38% | 7 FX_IDC:AUDUSD 27% | 5 EURUSD 11% | 2 USDCHF 11% | 2
IamAdamJowett IamAdamJowett PRO AUDUSD, 60, Short ,
AUDUSD: Another shot at AUDUSD retracement back to mid 75's
81 0 4
AUDUSD, 60 Short
Another shot at AUDUSD retracement back to mid 75's

Still we continue without a 38.2 retracement since 6th of January, it is not sustainable forever, but who knows when it will end. Earlier Wolfe Wave pattern was invalidated, but now we enter a triangle pattern with a potential to see that retracement. Time for another small entry to build a position down to 0.75547.

IamAdamJowett IamAdamJowett PRO AUDUSD, 240, Short ,
AUDUSD: Why I am still building short positions in AUDUSD
46 0 4
AUDUSD, 240 Short
Why I am still building short positions in AUDUSD

It has been a great run up on the AUD pairs, but there are more signs of stalling and over-excitement. Ever since 7330 we have not seen a 38.2 retracement on any pullback (red crosses), we've missed touching two weekly pivots now and a wolfe wave pattern has formed, a classic exhaustion pattern on a long running trend. Wolfe wave targets point to 7445, but a ...

IamAdamJowett IamAdamJowett PRO AUDUSD, 60, Short ,
AUDUSD: AUDUSD looking to relax back to sensible retracement area
40 0 4
AUDUSD, 60 Short
AUDUSD looking to relax back to sensible retracement area

The AUDUSD has had an extended run up late last week, Fridays push from 7385 to 7520 in quick time looks an exhaustion play to let the pair recover to a more structured retracement level. Short play with generous stops to 7385 is on the cards.

IamAdamJowett IamAdamJowett PRO AUDUSD, 15, Short ,
AUDUSD: AUDUSD looking to resume longer term down trend
31 0 3
AUDUSD, 15 Short
AUDUSD looking to resume longer term down trend

A nice recovery over the past few days has things looking bullish on shorter charts, but there is a strong case when moving to higher time frames for a resumption of the longer term downtrend around these levels. This could confirm through a developing head and shoulder pattern if we see a resumption around this level.

IamAdamJowett IamAdamJowett PRO AUDUSD, 15, Long ,
AUDUSD: Downside stalling, could be looking at a jagged move up to 7600
53 0 0
AUDUSD, 15 Long
Downside stalling, could be looking at a jagged move up to 7600

Descending triangle normally indicates a move lower, but higher time frames show some downside stalling so we could be in for a recovery to 7600 before the market decides what to do next.

IamAdamJowett IamAdamJowett PRO EURUSD, 15, Short ,
EURUSD: EURUSD coiling under 1.11, rest and retrace possible to 1.103
64 2 1
EURUSD, 15 Short
EURUSD coiling under 1.11, rest and retrace possible to 1.103

EURUSD showing plenty of intra-day signs of a coil and retracement. Yet to test today's pivot around 1.103 and a clear trend line as a tool for a conservative entry. Sell a break of that trend line and look for price to test today's pivot today or tomorrow.

IamAdamJowett IamAdamJowett PRO AUDUSD, 15, Short ,
AUDUSD: Short term exhaustion play to low 7500
77 0 0
AUDUSD, 15 Short
Short term exhaustion play to low 7500

Intraday counter-trend trade to 7520, watch for new though in coming hour.

IamAdamJowett IamAdamJowett PRO EURUSD, 15, Short ,
EURUSD: Pin bar short to higher time frame triangle bottom
76 0 1
EURUSD, 15 Short
Pin bar short to higher time frame triangle bottom

The EURUSD continues to struggle in a range, but looks like putting in a pin bar at a polarity level around 1.1093. If this confirms, look for a move below to the triangle pattern from higher time frames, currently sitting in the 1.1065 area.

IamAdamJowett IamAdamJowett PRO AUDUSD, 60, Short ,
AUDUSD: AUDUSD triangle points to 0.7300
65 0 1
AUDUSD, 60 Short
AUDUSD triangle points to 0.7300

For the first time since late February we are able to draw a valid down trend line on the AUDUSD. Combined with the last of the valid up trend lines, we are now in a triangle pattern, with a measured move indicating a move to the low 0.7300's should we see a break to the downside. Price is capped at 0.7503 and 0.7435 for the moment, so anything between those ...

IamAdamJowett IamAdamJowett PRO AUDUSD, 15, Short ,
AUDUSD: Short term $AUDUSD correction to 0.7400
35 0 1
AUDUSD, 15 Short
Short term $AUDUSD correction to 0.7400

We might be looking at a short term correction on the end of the third wave down to some support just above 7400.

IamAdamJowett IamAdamJowett PRO AUDUSD, 60, Short ,
AUDUSD: $AUDUSD looking exhausted and ready for a move down
36 0 2
AUDUSD, 60 Short
$AUDUSD looking exhausted and ready for a move down

The AUDUSD is right in an entry zone for a Wolfe Wave move down to around 7220's or so. The MACD is starting to show some divergence to compliment that thought on the hourly with shorter timeframes already showing the same signals for a while now.

IamAdamJowett IamAdamJowett PRO AUDUSD, 15, Long ,
AUDUSD: $AUDUSD watch areas for Thursday, Mar 3 2016
29 0 0
AUDUSD, 15 Long
$AUDUSD watch areas for Thursday, Mar 3 2016

After price blew through the top of the watch red resistance areas yesterday, support was found at the green watch areas and we are in a defined up trend for now. Thursday sees resistance above at 7305, with a larger longer term resistance area starting around 7330. Plays against the trend might want wait for the latter area, while trend followers can look for ...

IamAdamJowett IamAdamJowett PRO USOIL, 240, Short ,
USOIL: Wolfe Wave setup on $USOIL points to lower prices ahead
207 2 0
USOIL, 240 Short
Wolfe Wave setup on $USOIL points to lower prices ahead

While Oil has made a short term recovery from recent lows around 26.00, a classic Wolfe Wave pattern is forming pointing to possible exhaustion and a drop lower later in the week into next. If Oil shifts above 35.50 it is time to watch for signs of weakness with defined resistance at 36.20 offering nice point to accumulate short entries. Wolfe waves will ...

IamAdamJowett IamAdamJowett PRO AUDUSD, 15,
AUDUSD: $AUDUSD watch areas for Wednesday, Mar 2 2016.
28 0 1
AUDUSD, 15
$AUDUSD watch areas for Wednesday, Mar 2 2016.

$AUDUSD is stuck in an ascending wedge pattern coming into Asia this morning with two important levels to clear for it to find it's direction. A move above 7220 could see that level used as support for a move higher with potential support areas around 7200 and higher again at 7230. Moving below 7140 will give the opportunity for the resistance area from ...

IamAdamJowett IamAdamJowett PRO AUDUSD, 15,
AUDUSD: $AUDUSD watch areas for Tuesday, Mar 1 2016.
24 0 2
AUDUSD, 15
$AUDUSD watch areas for Tuesday, Mar 1 2016.

A day of consolidation is how by another triangle breakout setup as Sydney opens on Tuesday. Yesterday's first support and resistance zones held, as we look at 7180 above and 7100 below for Asian containment.

IamAdamJowett IamAdamJowett PRO USDCHF, 60, Short ,
USDCHF: Approaching resistance area, watch reaction around 8875
22 0 0
USDCHF, 60 Short
Approaching resistance area, watch reaction around 8875

$USDCHF after Friday afternoons sell-off is now recovering on Asian open move towards the inflection point from Friday around 8875. Watch for reaction as to give an indication into Monday trading.

IamAdamJowett IamAdamJowett PRO USDCHF, 60, Short ,
USDCHF: 4H Wolfe Wave
43 0 0
USDCHF, 60 Short
4H Wolfe Wave

Seems a typical example of what a Wolfe Wave is supposed to be ... keep an eye out for the downside.

IamAdamJowett IamAdamJowett PRO XAUUSD, 15, Long ,
XAUUSD: XAUUSD Retracement to 1300
40 0 0
XAUUSD, 15 Long
XAUUSD Retracement to 1300

$XAUUSD coming off it's lows points to a look above 1300 for it's retracement of the current down trend.

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