AUDCAD tried to give one more run to the downside last week but ended up stalling out and landing into consolidation. This area has a strong history of consolidation leading to reversals for the long. Let's see if that's what we are building up to this week. If not, we'll continue down to my next daily SR level and if we break through that, I'll post new...
We had a nice trendline rejection last week, which would've broken the bear trend if it kept going. But we still have a chance this week for that to happen.
Solid support from the monthly zone of 80.566 means we should continue for the long.
We'll just have to wait and see.
As always, the TPS are in place for whichever the market goes.
I hope it's up.
So the bearish harmonic is still being respected. A new month means new momentum is coming, so I'm still looking for this to keep ticking back up pretty soon. So I'm going to enjoy the ride until it continues on its bull run.
130.790 (weekly SR level)
If it breaks and retests the weekly, I'll add new TPs for the short.
US30 moved some but is still stalling for the next big move. Not looking for anything major to happen until later this week. When it does, we'll know which way this thing is really going to go to start October off with a bang!
For now, I THINK this teacup will remain respected all the way to market structure at 26438 at least. Or show a but-ugly range back up to...
Last week, the Head Neck and Shoulder formation was formed and technically we're still sitting at the neck. All I'm waiting on this week is to see will the pattern be respected and the bear run continues, or will he hover and return back to the monthly at 1537.30 before we know the true move? My TPs are below. Will try to update more when each one hits.
I'm beginning to backtest US30 since its the hot currency pair to trade in my circle.
So I'll be posting trades I am currently practicing with all TPs to get adjusted to it. As you notice, I can only trade this thing on the 4hr. moves to fast for me on lower timeframes.
Consolidation happened at the monthly high. This is the 2nd time price has visited the...
JPY is picking up a little steam for the week.
We have a bearish harmonic that's gotten some respect around the end of last week. But how long will it be respected? Let's find out. You should be looking for sells in JPY pairs this week.
BEAR TPS:] after pullback
JPY was not in control this week as several pairs made their bull run with it this month. I'm looking for bearish moves now to correct the very long bull runs. So this will be a short for a bit.
Even though we have a bullish engulfing on the monthly, I don't think it will get too much larger this week since GJ struggled with a daily SR level at 135.674. So much...
The GBP is nowhere near done with its bull rally.
I hope all of you were trading in favor of the GBP all this month.
I gave a heads up to some family before September 1st and I hope they enjoyed the month-long ride.
We have a morning star formation almost completely formed on the monthly.
Looking for it to finish the bull candle before October starts. Then...
Potential bearish swing trade setting up for Gold!
On the monthly, a bearish doji has formed and the RSI is now overbought and curving. So the bearish swing trade will happen. Just have to be patient for it.
For now, the market is having difficulty breaking the daily SR level at 1489.61. The big boy breakout will last week will get a correction before we find...
I missed the trade setup with the bearish harmonic last week. Shame on me. Bad Nika.
Now that it's almost over since the trade is sitting at a daily SR level with rock bottom RSIs on the 4hr, daily, and monthly, it's time to say buh-bye to the short and get ready for potential trade setups for next month.
On the monthly, we have a doji formed at the bottom of...
Happy to be returning to the weekly trade setups!
EURCAD is showing a really beautiful setup for the long on the monthly chart. We are currently forming a hammer candle on the monthly and the RSI is at rock bottom. So I will be placing a position trade once I have full confirmation for a buy as a swing trade.
On the 4hr chart, we are sitting on a daily SR...
Currently respected the bullish harmonic formed Friday thanks to President Trump.
In consolidation preparing for the next move.
If it can break the weekly 26130, and break resistance at 26438, looking to revisit 26724 or 27061 for the bull TPs.
If goes bearish after consolidation, will head down to 25080 monthly SR. Long term tp 24295.
D spot on harmonic was placed on an incorrect spot from analysis last month. With the proper placement, can see already missed the start of the move. Waiting to see if it will continue on its bullish move, or will it make a return down. Patience for the answer.
EURCAD doesn't seem like it, but its been consolidating for a really long time. So this meltdown was bound to happen since it still respected an overall bearish trend. But here has been no major retracement and the RSI even on the weekly is screaming it's overdue. So here are the TPS:
This set of TPs will start from the 3rd...
Since I've been gone, gold decided to shoot for the moon. However, there looks like there was no pullback of any kind since its take off. The stutter step it did last week could be signaling the retracement is about to begin. So let's see how far will gold move for a big retest or something more.
I have to wait a...
This harmonic is seen very clearly from the daily meaning this will be a several day swing trade once the setup is fully completed. Can't tell is this going to be a reversal harmonic or just a retracement. So if price can get to the mid peak of the harmonic, what it does from there will determine where we're going next.
109.781 (neck of the...
Now that I'm over serious illness, I am resuming with weekly trade analysis and setups this Sunday. When analysis are shared:
Each trade analysis will be updated in their comments section throughout the week to go over the results of the analysis.
I will update which TPs hit and why.
Got questions? Just ask them in the comments and I'll answer straight...