MartinScull

MartinScull

Hi Traders, Interesting development at the end of this last week as AUD/USD broke through the January 2016 rising trendline on the back of a strong week for the US Dollar. The break seems to be significant as in previous weeks, price seemed to be attempting to continue with the steadily rising trend until the rejection of the 0.77810 level and the following...

MartinScull

Hi Traders. Yesterday Sterling suffered as GDP (YoY) (1QA) was released and figures came in at 1.2 % rather than the general consensus of 1.4% This saw the Pound fall heavily against a basket of currencies but most notably for me, against the Japanese Yen where it looks to have had its worst day since late February 2018. So, zooming into the 1H chart we can...

MartinScull

Hi Traders, Here we have a Fibonacci study drawn on a daily chart for the EUR/CAD pair. Friday's close saw a hammer formation push above the 61% retracement after a week spent forming a support base at 50%. The line below EUR/CAD shows the direction of CAD/CHF and the clear, negative correlation between the two pairs. As it stands I'm looking for long entries...

MartinScull

Hi Traders, Hope this past week has been profitable! Here we have a daily view of EUR/AUD and using simple lines of support and resistance we can deduce that a key level is in range now for the pair. A week ago yesterday we can see a big rejection of the early January 2018 trend line and from there the pair has gone on to bounce off its daily 50 EMA on Thursday...

MartinScull

HI Traders, The pair is currently working its way down to support on a daily channel and is approaching the H1 median line of the Bollinger Bands. I'm looking for a long entry on H1 around the time of the US open today and possibly taking profit around 107.680. Happy trading!

MartinScull

HI Traders, The 240m chart break of the median Bollinger Band line is perhaps suggesting a break lower for the pair. This could potentially be confirmed by RSI also heading lower. Keep a look out on the hourly chart for entries! Happy trading!

MartinScull

HI Traders, I hope this week has been kind to you all! An interesting finish to the week regarding the US Dollar Swiss Franc pair. The weekly chart shows the pitchfork study starting at the beginning of 2017 with price starting its decline around November. As we are below the Ichimoku cloud, going short is the logical course of action here. Resistance is...

MartinScull

Hi Traders, A daily view of Cable here, and a potential opportunity to short the pair. RSI is clearly diverging with price, making lower lows whilst price continues to hit the same highs. I'm looking for a test of the long term trend line and 1.4000 then 1.3800 in extension should the opportunity play out. Timing is key here and this may begin early next week....

MartinScull

Hi Traders, As we can see here on the daily chart a fairly strong support base is forming from previous resistance. Price is hugging the lower side of the cloud after breaking above the Kijun base line and now has the next level of resistance at around 108.550 potentially in its sights. Entries should be made on lower timeframes to maximise profit potential....

MartinScull

Hi Traders, The strong bullish H1 candles here started at 11:00am BST. This could potentially lead to a longer lasting bullish move on higher timeframes as the pair moved towards a strong weekly support trendline late last week. Watch the Fibonacci levels on the H1 chart for further confirmation on direction, a rejection of the 50% level could see a move...

MartinScull

Hi Traders, A look at the weekly perspective here, the Fibonacci levels are from a monthly retracement which began its descent in September 2014.. a while back now! The bullish channel which arose from the bottom of the descent has been grinding steadily upwards since the middle of January 2018 on the weekly chart, creating many opportunities on lower...

MartinScull

Hi Traders, The current bullish trend in this pair extends back to the start of 2017, it's been quite relentless in its ascent! There are however signs of a potential correction on the daily chart dating back to February this year. Price continues to rise and make new highs from February, but the RSI oscillator rejects the 70 level three times before a slight...

MartinScull

Hi traders, so just something I've been watching for a while now. The Andrews Pitchfork study stretches back to 06/11/2017 and its desent through the ichimoku cloud signalling a new bearish trend began at the start of 2018. Fast forward to this past week and we can see a strong break above the Kijun base line, a slight retrace, then a bullish hammer formation...