UJ was choppy and sloppy all week making it very difficult to trade. On top that at the end of the week it sliced through several layers of support like a hot knife through butter. The significant level it violated was the 61.8% level of the fib long that has provided several long's in this uptrend including our initial bounce this month at 102.90 area. This...
AUDUSD held up for the early part of the week and finally got a lift from news which was sold off hard the rest of the week and closed the right at the lows. I am looking for a rise up in into the 8740 area which is last weeks Value area low. It also corresponds to a lows to lows extension fib setup. I like when these levels correlate so well. I will look to sell...
So I mentioned last week () that we were sitting on the Nov. point of control and that we would likely rotate higher if we held those lows around 3514 area. The market broke shorts in that area several times indicating a bottom there and provided several good longs for me this week. Good PMI's came out this week and sent the Euro squeezing higher as all the...
Large pullback to 50% retrace of the 103.87 low. Target is way up at 105.05
I made some great calls on UJ and AU but EU has been a miss so far. I have been looking for a nice move up to the December's point of control and then press higher into the 1.40 level. However, EU has seen selling pressure. A short traded at 1.3683 and has targets at 1.3490 area and so far is holding a series of shorts lower. A look at the bigger market profile...
As predicted the market slammed down last week - and has now bounced as predicted at a fib entry that correlated perfectly with last months point of control (POC) - So how about this coming week? We are currently sitting right at this week and months POC. It is also sitting on a highs to highs 50% fib level. If am expecting us to move higher and test new...
Big week on the AUDUSD. Started the week Sunday night with a continued up move from last Friday's NFP. () I closed out my long at 9047 which was certainly shy of the top tick of 9085 but it was a technical exit and almost 150 pips from my long entry. Got short around 9042 as we came out of my sell zone (). Took another short at 8923 which fairly quickly dropped...
Lets see where this goes. Break on 1 minute indicates support here on the 15 minute.
This funky anchor at 103.94 provided two long setups already. Let's see if it can provide us a bounce again and lead us into 105.13 area. Buy area is right on the upper half of a pocket of value there gyazo.com
Euro finally pulled back for the bigger long setup. Looking for long setups at the 3620 area. This is an upper edge of value from the market profile and a 50% retrace from the lows. Target area is in a cluster of value above with a lower edge in the 3734 area. I am expecting new highs eventually on the Euro. Market Profile: gyazo.com
After lots of chop at the lows the market finally made it to the higher sell zone I had been talking about for awhile: I am looking for the right price action to sell into here. Looks like the 15 minute should be giving me my sell signal shortly.
As I predicted () the market slammed right down into this potential buy area. I am looking for signs of accumulation here and will consider getting long under the right price action. This fib level has provided two other long entries so we should see buying here even if it does not make it to target at 106.54.
I am expecting selling to continue down to 102.90 area () before buyers step in. Here are a few ideas for entries into the continued sell off. Entry 1 Is a lows to lows fib. Markets put in a lot of rotation and value here last week and we could easily just head lower from here. Since this is a counter trend move to the major uptrend UJ is in, moving straight down...
I am anticipating the Euro to go higher () Last months point of control is way up in the 3758 area and should act like a magnet. Here are some ideas for the week to get long into the larger targets for this month in the 3928 area. First but zone is a high to high fib and has a small pocket of value created on Friday. It is minor and I am not necessarily...
I have been mentioning for awhile that I expected us to head to 9050 area on AUDUSD () Here are a couple of scenarios that could play out sunday/monday. First scenario is a shallow pullback to 8974 area and then make a harmonic move higher up to 9080 Second scenario is a deeper pullback to 8956 and then a harmonic move higher to 9060 Market profile supports...
Sitting in an entry area with two targets. First target (1059) is the respective target of this entry and the other target is the target of the larger pullback we had this week.
I have taken a couple of stabs to the long side at various value areas. I continue to believe we are heading to 9050. Here is the market profile I am seeing on my home trading screen: i.imgur.com We have made several attempts to push lower with no success and the there is a large pocket of value right above us in the 9050 area. We will likely test that pocket...
Euro looks ready to bounce and take us to 1.3928 or so. Market profile that I am looking at that indicates we are headed higher. We are at the lower edge of value and will likely head up to the upper edge of value. i.imgur.com