KarlBeacham

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About me Trading forex since Oct 2015. I'll stop learning when I'm dead.
Joined Abingdon, UK karl_beacham
This week is going to be good
Markets Allocation
86 % forex 14 % other
Top Mentioned Symbols
XAUUSD 14% | 1 DXY 14% | 1 USDCAD 14% | 1 GBPUSD 14% | 1
KarlBeacham KarlBeacham AUDJPY, 60, Short ,
AUDJPY: AUDJPY
26 0 0
AUDJPY, 60 Short
AUDJPY

Test of daily support turned resistance (possibly) then down to re-test lows

KarlBeacham KarlBeacham AUDCAD, 240, Long ,
AUDCAD: AUDCAD
31 0 0
AUDCAD, 240 Long
AUDCAD

I'm looking for longs in AUDCAD. Poised on both weekly and daily levels to continue higher. I'd like to see it move lower when markets open to give a better price to long at.

KarlBeacham KarlBeacham USDCAD, D, Long ,
USDCAD: USDCAD
87 0 1
USDCAD, D Long
USDCAD

Had a nice reaction on Friday. Bearing in mind that oil has hit a big resistance level I see CAD continuing higher or ranging before breaking out.

KarlBeacham KarlBeacham XAUUSD, 240,
XAUUSD: XAUUSD
114 0 1
XAUUSD, 240
XAUUSD

Compressing inside range on daily then further compression within range on hourly. Me personally would prefer breakout north as supports Aussie analysis, trading ideas.

KarlBeacham KarlBeacham GBPUSD, 60,
GBPUSD: GBPUSD simpler view
141 0 6
GBPUSD, 60
GBPUSD simpler view

It looks like GBPUSD wants to test it's lows again. Whilst compressing withing this range. It hasn't created a new high or low since 29th June/6th July respectively. It will need to break out at some point but doesn't look like it yet. I'll be looking for longs around 1.285 area up into the 1.33 area. If it reaches 1.285 I would expect to see a period of ...

KarlBeacham KarlBeacham NZDUSD, 60,
NZDUSD: NZDUSD swings
54 0 4
NZDUSD, 60
NZDUSD swings

Example of swings across different timeframes. Elliot wave labelling is purely for illustration only.

KarlBeacham KarlBeacham DXY, 60, Short ,
DXY: Clear path for DXY
62 0 3
DXY, 60 Short
Clear path for DXY

This week looks like DXY wants to drop lower to re-test 95 area. Higher time frame suggests downtrend with the move up from 95 being retracement. Now would expect downtrend to continue. 95.4 has acted as support twice before though and only broke the most recent time due to news with price rallying back above it. Third time is a charm! We shall have to wait ...

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