PaulWallace

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Joined Australia LigerCapital
Markets Allocation
88 % forex 6 % commodities 6 % indices
Top Mentioned Symbols
EURUSD 11% | 2 XAUUSD 11% | 2 BTCUSD 11% | 2 AUDUSD 5% | 1
PaulWallace PaulWallace XAUUSD, 120,
XAUUSD: Gold consolidation wedge
143 0 0
XAUUSD, 120
Gold consolidation wedge

I'm almost 99% certain this will break after todays FOMC statement comes out. If taper speculation is confirmed and the US dollar rallies I like shorting gold from these levels to see a re-test of 1300 and possibly even a break below.

PaulWallace PaulWallace EURUSD, 240,
EURUSD: EURUSD poised for a breakout
206 0 0
EURUSD, 240
EURUSD poised for a breakout

With the US GDP and FOMC rate statement coming out today, the EURUSD is bound to break in one direction or the other. I would prefer to play this to the downside if the taper timetable is confirmed for September.

PaulWallace PaulWallace EURGBP, D, Short ,
EURGBP: EURGBP about to double top?
102 3 1
EURGBP, D Short
EURGBP about to double top?

I'm looking to enter a short position on EURGBP as it could be setting up a double top near this multi-year trend line. I am waiting to see what happens, if these levels will hold after this weeks ECB and BOE events.

PaulWallace PaulWallace AUDCAD, 120, Long ,
AUDCAD: AUDCAD wedge play with possible breakout
109 1 0
AUDCAD, 120 Long
AUDCAD wedge play with possible breakout

I'm long AUDCAD from 0.952 looking for another test of the top side of this wedge at 96 as my first target. So far this trade is doing well, however the Canadian CPI figure is due out in about an hour which could send it in the other direction. My stop has been moved to breakeven to avoid taking a loss if it does reverse.

PaulWallace PaulWallace USDJPY, 60, Short ,
USDJPY: USDJPY Pre-Bernanke Wedge Setup
101 3 0
USDJPY, 60 Short
USDJPY Pre-Bernanke Wedge Setup

I like this wedge pattern that is forming on the yen. I will look to play a short position If we get a 5 minute close below 99 after Bernanke delivers his semi-annual policy report at 1230GMT. I won't necessarily play a break to the upside, but that is also possible!

PaulWallace PaulWallace AUDUSD, 180, Long ,
AUDUSD: AUDUSD forming a low?
77 1 0
AUDUSD, 180 Long
AUDUSD forming a low?

Waiting for a pullback to begin on the AUD. Will get long on a break of the top trendline or a bounce off the bottom. 0.91 would be a great long entry.

PaulWallace PaulWallace EURAUD, 60, Short ,
EURAUD: EURAUD possible reversal
146 1 0
EURAUD, 60 Short
EURAUD possible reversal

Went short off the trend line this morning. Looks like it's forming a large head and shoulders pattern (currently at the right shoulder). Looking for it to reach 1.4050 as my first target. If we break below that and subsequently the support at 1.4, the H&S will be validated and the final target will be 1.345

PaulWallace PaulWallace AUDJPY, 240, Long ,
AUDJPY: AUDJPY wedge pattern
70 0 0
AUDJPY, 240 Long
AUDJPY wedge pattern

If risk trends hold steady (S&P500 stabilizes) I'll look to play this if/when it breaks to the upside.

PaulWallace PaulWallace BTCUSD, 240,
BTCUSD: Bitcoin wedge pattern
295 2 1
BTCUSD, 240
Bitcoin wedge pattern

Looking for a break to the downside to get long at a good price.

PaulWallace PaulWallace AUDNZD, 240, Long ,
AUDNZD: AUDNZD possible long opportunity
106 3 0
AUDNZD, 240 Long
AUDNZD possible long opportunity

A descending triangle is forming on this pair. Watch for a breakout after the release of RBNZ's rate statement and Australia's employment numbers, due out soon. I would only play a break to the upside as this pair is already very oversold and due for a correction.

PaulWallace PaulWallace EURJPY, D, Short ,
EURJPY: EURJPY about to break?
195 0 0
EURJPY, D Short
EURJPY about to break?

Yen pairs have been under pressure lately. I'll be looking for opportunities to get short on a retest and rejection of the 130 level, anticipating a break of the rising trendline. If risk aversion kicks in (S&P selling off), we could see this accelerate back down towards 120.

PaulWallace PaulWallace GBPUSD, 15, Long ,
GBPUSD: GBPUSD descending triangle
225 0 0
GBPUSD, 15 Long
GBPUSD descending triangle

Sterling is correcting Thursdays rally. Look to get long for further strength.

PaulWallace PaulWallace EURUSD, D, Short ,
EURUSD: EURUSD sell from top of channel
205 2 0
EURUSD, D Short
EURUSD sell from top of channel

Looking to play a EURUSD channel to the downside.

PaulWallace PaulWallace SPX, D, Short ,
SPX: S&P500 correction begins
190 1 1
SPX, D Short
S&P500 correction begins

A correction in the S&P is likely to play out.

PaulWallace PaulWallace BTCUSD, 240, Short ,
BTCUSD: Bitcoin sell-offs continue
296 2 0
BTCUSD, 240 Short
Bitcoin sell-offs continue

Bitcoin has been selling off on the weekends lately.

PaulWallace PaulWallace CL1!, D,
CL1!: Crude Oil wedge pattern
99 1 0
CL1!, D
Crude Oil wedge pattern

A possible inverse H&S could lead to a breakout.

PaulWallace PaulWallace XAUUSD, 60, Short ,
XAUUSD: Gold breaks bear flag
134 3 0
XAUUSD, 60 Short
Gold breaks bear flag

I'm looking for continued gold selling and a retest of 1345. Gold is currently in high correlation with the US Dollar, so keep an eye on the dollar index.

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