KaizenTrader

KaizenTrader

Noticed a clear double top with a bearish divergence on the RSI on the 4hr chart and can see it here on the 1 hour as well. This pair has a historical tendency to drop fast and hard but my TP target is fairly conservative for now since the trend is slightly bullish.

KaizenTrader

There is no guarantee that my orders will be hit but I see this as the best way to trade the volatility resulting from the RBA event risk today. Retail is heavily biased long so a dramatic and most importantly continued move upwards is unlikely.

KaizenTrader

-Next level of resistance at around 1.40 Look for a good long entry. I have limit orders at EMAs in different timeframes and if the dollar continues to show bullish strength, expect the loonie to push toward this next level above.

KaizenTrader

I have been waiting to short the pound at this level and I have TPs at the 23% fib below. Stops are at the previous high.

KaizenTrader

Bounced right off the 61% fib line which was an excellent entry for a short down to at least the next fib level. SL and TPs are on the chart.

KaizenTrader

TP is at previous highs around 1.56 and SL is fairly tight. Will re-assess like every trade once we see how London trades tonight.

KaizenTrader

Entered a couple short positions this morning after seeing a clear bearish divergence on the double top we had from the London and NY sessions. Looking good so far and I have fairly conservative targets due to the generally bullish momentum this pair has been exhibiting.

KaizenTrader

Looking at a weekly chart shows us that the EURUSD could very well validate this long term support trend line. It is important to note that despite the Greek crisis causing the deepest drop in the euro for years, it is technically oversold from a weekly standpoint. Of course, if this major support line is breached, then the drop will be dramatic. This is...

KaizenTrader

I was wrong about the pound looking to retrace upwards and my SL was hit on the previous pound trade. Have an open short position after the minor pushback we saw during the London/NY trading session. It now looks like a retracement trade downwards to the previous bottoms we saw on July 7th. Trend lines and cloud are showing supporting bearish signals as well. SL...

KaizenTrader

Targets at 1.308 and 1.31

KaizenTrader

TPs at the 23% fib retracement zone. Bullish EMAs,bullish on the cloud, and bullish on the RSI.

KaizenTrader

Retracement started from the 76% fib and I have a target at 123.0772. A clear upward break of the 1 hour ichimoku further supports another leg up from here. EMAs are trending down however so just make sure to respect your stoplosses if you are long.

KaizenTrader

Watching the CAD this week to see if it breaks resistance at levels not seen since 2009. I am slightly biased toward a breakout upwards simply because the moving averages are now trending upwards as opposed to the last attempt made at this level years ago. That said, be very wary of a double top and fundamental factors that will change as the trading week continues.

KaizenTrader

Looks like a high probability long for a full retracement from this point. Had a very similar long trade on the CAD last week and I am expecting something similar. The fundamentals resulting from the BOE speeches are also supporting this technical development.

KaizenTrader

Going long from the 50% retracement to slightly below previous highs. This is a more conservative range trade and will be re-assessed pending the eurozone financial situation.

KaizenTrader

Looks like a perfect fib retracement from the 61.8 zone. Longs are a high probability trade until the previous highs at around 1.25608. Good place to be while we keep an eye on the eurozone crisis and observe how a decoupling with Greece will turn out.

KaizenTrader

Along with the thoughts on the chart, I will be slightly biased long until retail market sentiment balances out more. Currently 64% have open short positions and 36% are open long. There are two sides to every trade and if you look historically at sentiment, the market cannot change direction with so many traders heavily short. I believe the Euro should fall...

KaizenTrader

We have had a choppy week but the combination of higher lows and and higher highs indicates a bullish bias for the coming week. This rise is most likely on borrowed time for the EU. Earlier this week I noticed a clear bearish divergence between the tops we had on 6/3 and 6/9. As of now we can't confirm whether this bearish div will pan out. We have what appears to...