MrVolcano

PRO
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About me Tech guy committed to learning forex trading. I'm very much still learning but I publish my trades and ideas here as a kind of trading journal for myself, but hopefully other might also find them beneficial. Feel free to get in touch or provide feedback.
Joined Bali, Indonesia
Markets Allocation
91 % forex 3 % commodities 7 % other
Top Mentioned Symbols
AUDUSD 13% | 10 USDJPY 9% | 7 GBPUSD 7% | 6 USDCAD 6% | 5
MrVolcano MrVolcano PRO XAGUSD, D, Short ,
XAGUSD: XAGUSD - Pinbar rejection of fib level
105 0 6
XAGUSD, D Short
XAGUSD - Pinbar rejection of fib level

Daily pinbar rejection of the recent downward move. Now because price moved aggressively upwards on 15/3 after the FOMC, it is possibly that price could continue heading higher. However its a pretty compelling signal and the previous downwards move from 2-14 march was strong, it's quite possible that this could signal a resumption of that down move. So far ...

MrVolcano MrVolcano PRO AUDUSD, D, Long ,
AUDUSD: AUDUSD - Retest of SR level
93 0 4
AUDUSD, D Long
AUDUSD - Retest of SR level

AUD has been unbelievably strong recently. Price has broken above the dotted red trendline and retested the trendline on the 4hr chart. Waiting for price to retrace to the blue 1hr trendline to enter long. Expect some resistance around 0.7710 but I think price could now make it to 0.7760 before hitting major selling. 1h ...

MrVolcano MrVolcano PRO EURAUD, D, Short ,
EURAUD: EURAUD - Rejection of 100EMA
40 1 3
EURAUD, D Short
EURAUD - Rejection of 100EMA

A bearish kicker signal formed rejecting the 1.42 level. This level is confluent with : Daily 100 EMA Is a 50% fib retracement of previous downward move Stoch is crossing below the 80 level

MrVolcano MrVolcano PRO GBPUSD, D, Long ,
GBPUSD: GBPUSD - Morning Star
180 0 6
GBPUSD, D Long
GBPUSD - Morning Star

There's so much going on here! Morning star derivative/bullish engulfing signal Trendline retested as support Fib 76.4 retracement level I think that movement may be quite slow pending this weeks FOMC. Obviously the outcome of that meeting could have a huge effect on this trade so trade with caution.

MrVolcano MrVolcano PRO GBPCAD, 60, Long ,
GBPCAD: GBPCAD has broken short term trendline
53 3 3
GBPCAD, 60 Long
GBPCAD has broken short term trendline

Price has broken above the trendline and looks to be retesting as support. Bullish engulfing signal with a long lower tail, Looks bullish.

MrVolcano MrVolcano PRO USDJPY, 60, Short ,
USDJPY: USDJPY - Quick 1hr pin bar
125 0 2
USDJPY, 60 Short
USDJPY - Quick 1hr pin bar

Just noticed this 1hr rejection of the short term down trend. Looks like an easy 2R.

MrVolcano MrVolcano PRO USDJPY, D, Long ,
USDJPY: USDJPY may have found support.  Ready for a new impulse?
111 0 3
USDJPY, D Long
USDJPY may have found support. Ready for a new impulse?

USDJPY has been in correction since January, but it's now at the Fib 38% and 100EMA levels appear to be providing support. Here we could see price break higher, but we need to see the red down trend line can be broken. There is still risk that price could head lower to the fib 50% level if support breaks, so we need to be patient.

MrVolcano MrVolcano PRO USDCAD, D, Short ,
USDCAD: USDCAD at highly confluent area
52 0 1
USDCAD, D Short
USDCAD at highly confluent area

Highly confluent area where 50, 100 & 200 EMA's cross, ascending resistance and descending resistance meet and is also a fib 61.8% retracement level. Be patient and wait for price to go higher and then a bear signal rejecting the ascending trendline. Looks like a very good place to short from. Today's US Crude inventory figures could be the catalyst to start ...

MrVolcano MrVolcano PRO NZDUSD, D, Short ,
NZDUSD: NZDUSD - Bearish rejection at highly confluent level
124 0 8
NZDUSD, D Short
NZDUSD - Bearish rejection at highly confluent level

The daily candle hasn't yet closed, but looks like a strong bearish rejection of resistance and bearish engulfing signal. NZDUSD has been in a strong bullish trend since December 2016 and the previous BE signal on 26-Jan failed, so we really want some strong confirmation that bears are in control now. The top of the candle is just about piercing the upper ...

MrVolcano MrVolcano PRO NZDCAD, D, Short ,
NZDCAD: NZDCAD - Price rejection at upper trend line
59 2 6
NZDCAD, D Short
NZDCAD - Price rejection at upper trend line

Price is now showing clear rejection of the upper trend line. Bulls tried a couple of times to push through, but look exhausted now and bears are stepping in. Yesterdays bar clearly shows rejection of the 0.9600 level and also engulf the previous 2 days bars. I'm hoping that price will now head to trend line support at 0.9100, but there is also previous support ...

MrVolcano MrVolcano PRO EURAUD, D, Long ,
EURAUD: EURAUD - Break of trend line
59 0 3
EURAUD, D Long
EURAUD - Break of trend line

Price had broken the short term downwards trend line, and has retested previous support which appears to be holding. Price has been in a range since October and I'm trusting that price will head higher and retest resistance at 1.45. 1.45 is confluent with the top of the range AND long term sideways trend line resistance level so it's sure to be an area to watch.

MrVolcano MrVolcano PRO EURPLN, D, Long ,
EURPLN: EURPLN - Inverted hammer at Fib level and Break of trend line
28 1 4
EURPLN, D Long
EURPLN - Inverted hammer at Fib level and Break of trend line

EURPLN has now broken it's downwards trendline and price has started to reverse, bouncing off the Fib 61.8 level. This looks like a good opportunity to go long with a great R/R... IF price can retest the previous high. - Stoch is crossing out of oversold condition

MrVolcano MrVolcano PRO EURGBP, 240, Short ,
EURGBP: EURGBP - Trend line support broken, Downtrend intact
60 0 4
EURGBP, 240 Short
EURGBP - Trend line support broken, Downtrend intact

EURGBP closed below trend line support yesterday, presenting a nice opportunity to head lower. Expecting a retest of the trendline as resistance, so will place an order entry 0.8598 TP1: .8550 TP2: .8500 TP3: .8450 Daily https://www.tradingview.com/chart/EURGBP/Yoz5lthw-EURGBP-Trend-line-support-broken-Downtrend-intact/

MrVolcano MrVolcano PRO USDJPY, 240, Long ,
USDJPY: USDJPY - Breakout of consolidation
122 1 4
USDJPY, 240 Long
USDJPY - Breakout of consolidation

Following yesterday's nice big Bullish Engulfing signal on the D1 chart, price has broken out of the recent consolidation channel and has retested resistance as support, giving us a better risk/reward entry and with some added confirmation that price is definitely moving upwards. Daily https://www.tradingview.com/x/VEklpghu/

MrVolcano MrVolcano PRO GBPAUD, 240, Short ,
GBPAUD: GBPAUD - Is this the start of another impulse leg?
51 0 3
GBPAUD, 240 Short
GBPAUD - Is this the start of another impulse leg?

Price has broken above the wedge, but is rejecting the upper channel, and is only 40 pips short of touching the multi month channel which started in August 2015. Rejection of upper wedge channel Rejection of upper multi month channel Rejection of Fib 38.8% retracement level Rejection of previous S/R level It's not a proper pinbar, and it's only on the 4hr, so ...

MrVolcano MrVolcano PRO XAUUSD, 240, Short ,
XAUUSD: Gold - The correction begins
192 0 7
XAUUSD, 240 Short
Gold - The correction begins

I've been watching the rally in gold and silver recently, and it's finally looking like the bull's are out of steam. Reasons: Fib 38% retracement 1207.3 is a previous support/resistance area Price has broken below 4hr trend line support and retested as resistance Apex with downwards trend Stoch has crossed below 80 on the daily ...

MrVolcano MrVolcano PRO USDJPY, 240, Long ,
USDJPY: USDJPY - Correction is showing signs of weakening
161 1 4
USDJPY, 240 Long
USDJPY - Correction is showing signs of weakening

Correction on USDJPY is showing signs of weakening. We have a higher high and price broke further above the top of the channel, producing a small daily rejection signal, but small compared to yesterdays Bullish Engulfing signal. Price will likely head lower, either to the mid-channel or possibly to support at 113.00 and then bounce higher. A break and ...

MrVolcano MrVolcano PRO EURJPY, D, Long ,
EURJPY: EURJPY - Ready to continue long?
43 0 3
EURJPY, D Long
EURJPY - Ready to continue long?

After a great bull run, EURJPY has consolidated and retraced back to between the FIb 23-38% levels, and appears to have found support at the previous SR level of 121, where a Bullish Engulfing signal has formed, breaking the 4hr sideways trend line. This is also the 50EMA. Stoch has crossed up above the 20 level, suggesting we can now go long. Although I ...

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