In this chart I display a trade setup I've been working on. You pick 5 currency pairs, based on relative strength figures, and individual price action traits. The idea is to profit from the mean reversion phenomena that normally occurs during the low volatility Asian session. Many pairs will show reduced volatility and a tendency to revisit previous areas of...
Merry Christmas folks! Today I decided to show you a phenomenon I'm sure many of you already know of, but which I find is the best and most profitable way of approaching Forex trading, based on my past experience. I normally traded intraday using 15m and 5m charts in the usdcad and usdjpy pairs, before transitioning to longer timeframe trading. If your capital...
The news about the negative rates gave way to a nice short setup. I'll enter short on any 4h pullback, targetting initially 118.459 and as a secondary target 116.079. Stop over the light blue line in my chart. Good luck gents!
EURCAD has breached through a strong congestion zone and is now about to bounce from a strong level above. Bias is still bullish, so I'd be looking to buy a retracement as displayed in the chart. Stop should be 1 ATR, and target would be the next pitchfork line above.
As everyone and their mother probably knows, EURUSD offers a bullish opportunity if you know where to look. I'll be opening a long trade with a 1 ATR stop, targetting the different resistance levels above. I'll monitor the trade for any possibility of scaling in with more lots, and/or places to close long positions in case the trade starts to head south. Once...
Silver has been posting higher lows gradually, while forming a multi-day base which suggests accumulation of the precious metal, and a change in mentality regarding its value. The current resistance is an options expiration line, which matches the most recurrent price during a previous area of congestion during the decline that lead to the explosive surge of...
In this chart we can see how the NZDCHF and NZDJPY pairs have behaved over time. Correlation has been negative in some cases, giving place to a hedged carry trade setup, if taking solid long entries. I decided to take on a longer term trade, by opening two long trades risking 5% of my whole account to get an expected 100% return from interest alone after a year,...
It seems like Bitcoin has built a 5 quarter base, and rallied for exactly 5 quarters before starting the current slow downwards grind. Right now the outlook is neutral, but as soon as we see an impulsive decline, I expect it to develop into a strong downtrend, targetting the 86 dollars mark. Mining induced inflation is slowly killing the BTC price, which shows a...
I'm long EURJPY from 148.55, SL at the .214 fib, tp at 1.272 for target 1, and 1.414 for target 2. News pushed the price down, but it got rejected at a previous area of accepted value so I decided to long this pair. Good risk reward ratio, see you at tp folks ;)
This pair has shown it found value around the options expiration line below price as I type this. I expect it to retest said line, to then move higher up, reaching the previous week high at the very least. Look for a solid directional move up on the NY open tomorrow as confirmation, for now a limit buy at or around the options expiration line should be a good idea...
Cable has been revolving around two key levels, a recurrent price level in the daily chart, as well as the options expiration line from Tim West's Key Hidden Levels indicator pack. Both lines have slowed price down initially, to then reject it on retests. Price overextended on the lows recently, in a pretty forceful and steep manner, so a correction is...
There is a key level above the price, trend is bearish and the indicators agree on the direction the market's moving. The options expiration line above and a fix rate level serve as overhead resistance, to measure risk from. Target is 2 ATRs down, closing half the lots at 1 ATR profit and moving stop to break even by then.
BTCUSD futures showing bullish inclinations, short term target is 439.16 in 7 days or less. If price fails to reach that target in 7 days, bias would turn bearish and a short position could be initiated. Likewise, if price were to retest 371.03, a reverse order would be opened, per the chart. For now, target 1 is 395 and target 2 is 439.16 with a stop at...
There is a possible 5 week uptrend setup in the making. See the analysis on the chart, upside targets are 444.86 and 472.24. If the setup were to fail to reach these in 5 weeks, bias would be bearish, and would suggest a decline into the 340.70 as first target, little support below that level.
In this chart we can see what appears to be an ending diagonal triangle or Wolfe Wave pattern forming as a signal of the market's exhaustion on the long side, which will call for a return to a more fair price level, and a continuation of the dominant trend eventually. For now, I'll wait for entry signals in this turbulent market and watch how this geometry unfolds...
We are witneseeing longer term long position inventory liquidations by the holders who opened at or around August 18. Based on the move away from fair value that LTC is displaying and the weakness manifested in BTCUSD as well, I conclude that this pair will take a beating and reach new lows. My forecast is a halving of the previous accepted value, so targetting...
Once we see a weekly close below the cloud, we can get ready to short this pair. Entry can be from the daily, on a pullback, stop over 1.6045. Target would be the area below 1.558 and its whereabouts. Trade will get invalidated if we cross above 1.6045.