Ok, my preceeding analysis did not come true, but the scenario might repeat now. Different level, the same setup, let us see. Petr
The Kiwi Dollar has made a nice false-brak off two preceeding lows. There is a high probability of an upmove, so I am interested in long entry @0.8447 approx. Petr
Based on the price action, I am waiting for any sign of weakness to go short off the 61.8 Fibonacci level. Petr
There is a nice resistance @1880, which coincides with the 61.8 Fibo of prior swing. My idea is for short off that level for a quick price drop. Petr YouTube Channel: bit.ly TWITTER: @FlexibleTrader E-MAIL: psuchanek@smbcap.com Blog: bit.ly
Petr Suchanek Forex, Futures & Options Trader Email: psuchanek@smbcap.com Twitter: @FlexibleTrader StockTwits: stocktwits.com YouTube Channel: bit.ly
Petr Suchanek Forex, Futures & Options Trader Email: psuchanek@smbcap.com Twitter: @FlexibleTrader StockTwits: stocktwits.com YouTube Channel: bit.ly
Petr Suchanek Forex, Futures & Options Trader Email: psuchanek@smbcap.com Twitter: @FlexibleTrader StockTwits: stocktwits.com YouTube Channel: bit.ly
In terms of my unconventional methodology a pure example of T4B pattern (short) has formed. Since I missed the opportunity to enter short @1.6740, I will wait for a reasonable uptick to join the downward momentum. Petr YouTube Channel: bit.ly TWITTER: @FlexibleTrader E-MAIL: psuchanek@smbcap.com Blog: bit.ly
As an add-on to my previous analysis to GBPUSD, I would like to note that the price is consolidating below a long-term resistance from 2011 High. When I look at the previous price action, I see that the price did not close decisively above the pivot level and is fooling around below. This pair has been very strong recently and showed us no serious retracement in...
When you look at my previous analysis post in Eur yesterday, you could see a very similar price action, which now repeats in Cable. GBP is now retesting an important resistance level. I am personally very cautious about any retracement to the upside to enter short. Petr YouTube Channel: bit.ly TWITTER: @PetrSuchanek_78 E-MAIL: petrsuchanek78@gmail.com
Provided that the price action above 1.3770 is a false-break of the 1.3770 level, we might have now a very nice retest of that level with a very high probability of a downmove. I am personally short off 1.3767. Petr YouTube Channel: bit.ly TWITTER: @PetrSuchanek_78 E-MAIL: petrsuchanek78@gmail.com
It looks like the Eur pulled back below a very important pivot (1.3700). My bias here is now bullish, since I assume the pullback is only a bear trap. So I primarily look for entry long, which is highly dependent on the price behaviour around 1.3700. If the price breaks up through 1.3700 decisively, I am prepared to enter at the retest of 1.3700. If a false break...
A nice opportunity to short Eur might originate, if the price pulls back a little bit below the prior privot and shows some kind of weakness. Then a high potential trade short might be with the entry just at the retest of the pivot.
My plan for today is to focus on three levels within a range-bound market conditions in Aussie. A signal for the entry might be any sign of weakness/strength for short/long and a consequent retest of the level.
A very nice example of a "T4D" pattern has occurred, with a high probability of an immediate downward momentum. Pattern based on "long covering" or "trapped longs". Let us see how it plays out. For further information about my trading style, live trading videos and analyses, subscribe to my YouTube Channel: bit.ly
The Euro remained strong till the end of the last week and has not come down yet as I had expected. It seems it might be fighting the 61.8 Fibonacci level more seriously. At this moment it is very difficult to have long or short intraday bias, because it depends on the price behaviour just around that level. I have drafted my plan for today and I favour two...
Unlike Euro, the GBP reaction to news has been quite small. Personally I am waiting for this intraday scenario, i.e. sign of weakness above the range high and the short entry at the re-test of the boundary. Let us see what unfolds. For further information about my trading style, live trading videos and analyses, subscribe to my YouTube Channel: bit.ly
Since Eur is still in the short-term downtrend, this is a very nice opportunity to enter short. I am personally short just at the 61.8 Fibo, the ultimate target is at the bottom of the swing.