Jeff_Wheelwright

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About me I'm a former computer programmer, and presently I am half-time trader, half-time housewife... besides of that math geek and science freak.
Joined Poland
Markets Allocation
100 % forex
Top Mentioned Symbols
NZDUSD 20% | 3 AUDUSD 13% | 2 AUDNZD 13% | 2 EURUSD 6% | 1
Jeff_Wheelwright Jeff_Wheelwright USDCHF, 1D, Short ,
USDCHF: USDCHF - maybe it's time for a pullback
105 0 3
USDCHF, 1D Short
USDCHF - maybe it's time for a pullback

It crossed 1.00 which is the fair price then bounced from monthly resistance. Pullback to monthly pivot will quite probably occur but is not guaranteed. Very good R:R ratio anyway. I'll give it a try.

Jeff_Wheelwright Jeff_Wheelwright AUDNZD, 1W, Long ,
AUDNZD: AUDNZD bounced from the long term trend line
88 0 4
AUDNZD, 1W Long
AUDNZD bounced from the long term trend line

Wait for potential pullback after tonight's release of the New Zealand CPI and Australian employment data or buy at the current market price. Stop loss should be just below last low (and the trend line).

Jeff_Wheelwright Jeff_Wheelwright AUDUSD, 1D, Long ,
AUDUSD: AUDUSD is approaching the trend line
54 0 2
AUDUSD, 1D Long
AUDUSD is approaching the trend line

AUDUSD is approaching the main trend line (plotted on weekly chart) which hold since the beginning of 2016 so far. At the same level there's a target of the medium scale AB=CD pattern (plotted from the last top). Stay tuned, switch to lower TF and buy only if the trend line will hold.

Jeff_Wheelwright Jeff_Wheelwright NZDUSD, D, Long ,
NZDUSD: NZDUSD bounced from strong support
46 0 4
NZDUSD, D Long
NZDUSD bounced from strong support

Moreover, large AB=CD pattern has been completed. After such a fast drop significant pullback is expected.

Jeff_Wheelwright Jeff_Wheelwright EURUSD, D, Short ,
EURUSD: Bearish divergence on daily MACD. Sell for medium term profit.
136 0 6
EURUSD, D Short
Bearish divergence on daily MACD. Sell for medium term profit.

Strong bearish divergence on MACD on daily chart has been formed. In recent years such a divergence always preceded medium term trend change or large correction. I'm selling EURUSD from this point with no SL due to very good swaps (rollovers) on short positions. Be prepared for one more spike up (so-called 'SL hunting' or 'Wash & Rinse') on Thursday, thus don't ...

Jeff_Wheelwright Jeff_Wheelwright AUDUSD, D, Long ,
AUDUSD: Short term buy opportunity, but don't catch the falling knife
62 0 8
AUDUSD, D Long
Short term buy opportunity, but don't catch the falling knife

AUDUSD is falling and just touched 100% AB=CD target level which is in confluence with previous strong support level from November 2016 from which AUD bounced after selloff caused by Trump election. After a solid 200 pip drop I expect a short term correction of size equal to previous ones (see chart). But there could be also just a small bounce then further drop ...

Jeff_Wheelwright Jeff_Wheelwright NZDUSD, D, Long ,
NZDUSD: Be prepared for NZD retracement
54 0 7
NZDUSD, D Long
Be prepared for NZD retracement

NZD is dropping fast, but is approaching the zone which served several times as a support. Moreover, this zone includes three important levels: last flag target (or AB=CD target if you prefer), 0.786 Fibo level of retracement of Trump unwind rally and last but not least - big round number 0.7000. Switch to lower timeframe and wait for any sign of price reversal.

Jeff_Wheelwright Jeff_Wheelwright NZDUSD, D, Short ,
NZDUSD: NZDUSD is pressing two support levels
72 0 4
NZDUSD, D Short
NZDUSD is pressing two support levels

NZDUSD currently testing two important levels: 2016 support and big H&S neckline. In case of breakout, first target is yearly pivot ~0.697, second one - H&S target ~0.662 or previous important low ~0.669. Big bearish divergence and highly possible US rate hike are in my favor. Wait for breakout or sell now if you can afford such a loss.

Jeff_Wheelwright Jeff_Wheelwright GBPUSD, D, Long ,
GBPUSD: GBPUSD is slowly breaking above a declining trendline
83 0 4
GBPUSD, D Long
GBPUSD is slowly breaking above a declining trendline

GBPUSD is breaking above a declining trendline that may become support again. Large H&S pattern is still valid, its target coincides with yearly pivot point @1.507. GBP won't decline despite worse than expected job data, Brexit polls shifting in favour of 'remain', COT data - everything looks bullish for GBP at the moment.

Jeff_Wheelwright Jeff_Wheelwright AUDUSD, D, Long ,
AUDUSD: Buy AUDUSD on pullback
61 0 5
AUDUSD, D Long
Buy AUDUSD on pullback

Entry/target levels similar to those from attached idea, but based on Fibo levels. AUDUSD has bullish momentum, previous top from 04.02 taken, I think we're on the way to ~0.74 once again. This will form nice ABCD pattern, AB=CD. Enter on next pullback to 0.719 or 0.715. TP1 = 0.729, TP2 = 0.739

Jeff_Wheelwright Jeff_Wheelwright EURGBP, D, Long ,
EURGBP: How to trade next EURGBP leg
42 0 5
EURGBP, D Long
How to trade next EURGBP leg

I expect EURUSD turning point and rally from @~1.1060 along with slow GBP appreciation. Thus we can get 3D sell pattern on EURGBP. Watch low timeframe charts and enter @~.766 with TP1 @0.7888 and TP2 @0.7988. Drop below 0.7525 invalidates bullish scenario. There's a nice area of confluence right below .80 psychical level. Next trade will be short right below 0.80.

Jeff_Wheelwright Jeff_Wheelwright EURAUD, D, Short ,
EURAUD: EURAUD short if it doesn't break out the channel, then buy back
30 0 4
EURAUD, D Short
EURAUD short if it doesn't break out the channel, then buy back

This rising channel line is in play since mid-March. Next week I expect small correction of EUR rally first, i.e. to 1.125 (EURUSD), so you can short EURAUD if the price doesn't break out the channel immediately. It can fall to 1.53 or 1.52 depending on AUD behaviour. Be careful - this is a fast-mover, and AUD has room to 0.717 to fall.

Jeff_Wheelwright Jeff_Wheelwright EURUSD, D,
EURUSD: EUR/USD - two possible outcomes after Greek crisis endgame
62 0 5
EURUSD, D
EUR/USD - two possible outcomes after Greek crisis endgame

In my opinion bullish scenario is more probably since US rate hike was postponed to mid-September at least, but we had already 5 swings inside the big wedge. 1.1170, 1.1400/10 and 1.1530 are now crucial levels to watch for taking long positions on retest of broken levels. If price breaks 1.0980 first (3 days price closes below or retest of broken level then down) ...

Jeff_Wheelwright Jeff_Wheelwright AUDNZD, D, Short ,
AUDNZD: AUDNZD rally rejected by Fibo level and round number.
31 0 5
AUDNZD, D Short
AUDNZD rally rejected by Fibo level and round number.

I just noticed that AUDNZD rally was rejected today exactly at 0.618 extension of first long leg from 1.00* to 1.08* and pullback to 1.05* plus next round number 1.11. Previously there was no reaction to psychological 1.10 level. After such a long and fast rally I expected 3D sell or other pattern and deep correction but it was distorted by latest RBNZ decision ...

Jeff_Wheelwright Jeff_Wheelwright USDPLN, 240, Short ,
USDPLN: USDPLN rally rejected by Fibo level and trendline
32 0 4
USDPLN, 240 Short
USDPLN rally rejected by Fibo level and trendline

A bit exotic pair, but if you bet on EUR rally, this one is highly correlated - in case of Euro rally USDPLN always falls badly. I prefer short positions due to very good swaps. Friday's rally rejected precisely @0.236 retracement fibo level of last big rally and by falling trendline. Should reach again at least opposite end of rectangle and 0.5 Fibo level (TP1) ...

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