Mike_fxnerd

Mike_fxnerd

TON Coin looks to be re-accumulating at the moment, potentially setting up for a 2nd or 4th wave, but definitely corrective in nature, so from this point, i look to accumulating TONS in the meantime to HODL, and a tradable position once we get confirmation of the that the Bullish momentum has kicked in

Mike_fxnerd

Although my overall bias for the dollar is bullish , I'll be waiting for price to reach and stay below the 103.960 area and print bearish signals to possibly take the price down to the 61.8% retracement zone to fill the areas of imbalance. If price does not remain below this price then this analysis would be considered invalid and re-analysis is in order...

Mike_fxnerd

Could GBPJPY possibly fall +370 pips..let's see if this plays out, we'll take it a wave at a time

Mike_fxnerd

As long as the trendline resistance holds and price remains below 1.2750, then I will be looking to short this pair for a good +150 pips. let's see how this one plays out.

Mike_fxnerd

SHORT

Mike_fxnerd

EURUSD seems to be in the beginning phases of the C wave correction.

Mike_fxnerd

Following the 5 wave structure, i am anticipating a flat correction. and a move to fill the wick the was created on the 4th wave of the preceding impulse leg

Mike_fxnerd

Wait for confirmation break of resistance

Mike_fxnerd

So after oil tanks to below zero, what does this mean for major oil company sasol. well, should price go up, now wouldnt be a bad time to jump in the bullish move. confirmation of this will be when price closes above 8466 to form higher highs.

Mike_fxnerd

EURCAD has currently approached resistance filling the previous candle Highs. How we plan on trading this pair is as follows. Should price reject from resistance and present bullish reversal patterns on the lower time frames such as the 4H or Daily time frame, we can anticipate a short term corrective move to the downside as indicated above. this zone correlates...

Mike_fxnerd

As CADJPY has broken channel support and approaches monthly support, we are anticipating a relief bullish rally to retest the broken support as what will now be resistance before push to the downside. This is a monthly view so this could take some time for the H&S rule to play out. Should price break below the neckline before pushing up to test the broken channel...

Mike_fxnerd

GBPCHF remains in bearish as it heads towards the channel support to complete the ABCD harmonic pattern. Further confirmation of the bearish move is presented with price creating new lows at this point. Safe entries would be to wait for a re-tracement on the lower time frame to find a resistance area that correlates with where the current Monthly broke previous...

Mike_fxnerd

At this stage the US dollar strength is over powering the South African Rand, however as we approach the monthly resistance zone as well as fill the previous high wick, its best to sit on the sidelines and wait for a reaction at the resistance area, any bearish signal that is presented, we will apply our entry strategies should we receive the relevant data for...

Mike_fxnerd

GBPCAD overall view on the monthly time frame looks like it is gearing up for a major down swing. This could come from the OIL correction following the major fall we received from last weeks market open if we look at it from a fundamental stand point. From a technical perspective, we just received a successful retest of resistance at the channel break of previous...

Mike_fxnerd

As USDJPY bounces off the channel support, our trade bias is towards the channel resistance. If you have not already entered this trade, wait for the break and retest of the previous high to look for entries as indicated in the analysis. Further confirmation of this is bullish move is the gap above that needs to be filled on the lower timeframes. Should you take...

Mike_fxnerd

As price approaches channel support on the 4h time frame, we will wait for either a rejection from the area indicating dollar strength or a break and retest as resistance of the area to the downside indicating dollar weakness. Should the support hold push price up then the dollar base pairs will be bullish and dollar quote pairs bearish. Should price break support...

Mike_fxnerd

Bullish Penant is being formed

Mike_fxnerd

Bounce off channel resistance...expected overall momentum to the downside