PipsrusX

06:52

PipsrusX

GBPAUD analysis

PipsrusX

price broke previous daily support, anticipating eventual weekly support to be tested, anticipating a pullback to intraday retest or a 3:1 risk to reward ratio

PipsrusX

with the daily closure rejecting the weekly and monthy. and the overall weekly and monthly price action clearly recommending a bearish trend continuation after liquidation, bears are in control, well overall. then again price does not move in a a straight line, thus retracements and pullbacks in this case, i would anticipate a pullback possible to the point...

PipsrusX

last weeks closure is key to USDZAR'S exotic future. weekly strong closure above previous month and the overall weekly chart demanding a monthly bullish continuation,is the best way to put it. intraday play suggests a retest of previous intrday support 14.64 at most. atleast you ask?? 14.75. at which point, should we reject either of those levels. it would be an...

PipsrusX

the cross has clearly indicated its intentions to retest .65 monthly support. but that would be easy if price moved in a straight line, which it doesn't. this week has seen a cool retracement however friday's closure says extra by rejecting 0.7 price level which is the monthly resistance. daily time frame however is bullish and has closed bullish, what does this...

PipsrusX

Upside potential for this pair is evident and unlimited from this point. having completed and rejected monthly support with the previous months candle close, its only a matter of time as bulls are clearly back in control. A retest and rejection of previous intra-day level indicated as intraday retest on the chart, would be a good enrty to just buy and forget...

PipsrusX

After last month strong bearish closure breaking below previous monthly and weekly support, price is overall suggesting the continuation in its journey to a structural retest. we are seeing some retracement activity going on, however we are approaching a key weekly level, previously strong support now resistance around 122.50-80 iish area. daily/weekly closure...

PipsrusX

todays daily closure says alot about the future of the cross. at this point, downside continuation almost seems inevitable, only bummer is "anything can happen" 1.7010 sounds like a good final entry or shorts since it is the intraday bearish structural retest, should it go that far. weekly timeframe suggests overalll bearish continuation, any significant upside...

PipsrusX

a change in trend direction can only be warranted by break of both highs and lows. we all know that yeah!! {yeees} on the daily timeframe, a daily close above 1.2738, is what would warrant a shift in trend direction. that didn't happen because we have more downside ground to cover. i see three possible ways this cable could stretch out. all leading to atleast...

PipsrusX

"how deep is your love"?? that calvin harris song?? no one?? okay. anyways lets get on with it with the recent pound short across the board, its time for a breather right, well almost. see price has resumed its bearish continuation, i'm talking overall, like the monthly trend n stuff like that, but, the last two weeks has seen price rejecting one interesting...

PipsrusX

on medium term basis, loonie has proven the theory i have, traders are either liquidating, they are either risk on,{impulsive move} or they're doing nothing {ranging}. on the weekly basis we have been on the liquidation phase and its heading to its prime, as indicated by the monthly closure of may breaking through the prior monthly level and the weekly as...

PipsrusX

OKAY okay loonie has been such a player lately with our elliot wave mates having a blast lately {smalll rant there LOL}. SO since its June technically mid year i thought id do Forecast o the future o USDCAD.Or at least one possibility of it being the case. the pair may have met some criteria for going into a liquidation wonderland, basically a 123 bearish...

PipsrusX

thought process is very clear with cable, monthly structural retest. the monthly closure this month may be somewhat a tricky one to some, most even. price closed below the prior monthly support level, now resistance, but rejected a tricky monthly/weekly level. i have outlined just one route this cable could play out as we head to retest the monthly support...

PipsrusX

Ending the month, GBPJPY aka "proxy" has made clear its intentions and based on the overall monthly price action that this whole thing has been just aiming at a structural retest or a longer term bull run. my initial considerations of a long term buy would be at 130 price level, bulls threshold to being bulls. at the moment. month is ending with an agrresive...

PipsrusX

following up on my previous post on one one bullish outcome or the pair, here is a suitable short term play, i it may. so the weekly price action has been trending profit taking gear to finally test the monthly bulls retest ie the red line. now i a third bounce o an upper trendline in a bearish liquidation is rejected, price is subjected to a double bottom...

PipsrusX

well they say every thing in trading comes in clusters of three. strings of good luck, winning streaks losing streaks etc etc. this chart in its most naked form, can at any one time, give you 1000's possible outcomes as to where the price may be going next, today id like to discuss just one. in the most broad perspective. price as been respecting that upper...

PipsrusX

After completing the profit taking phase that followed the selloff in December and January, price is looking like its finally ready to begin its bearish continuation. yesterday's close as a pinbar that rejected weekly resistance in blue, and retested daily support in gray, the only sane move for UJ is bearish continuation to test the proceeding monthly support...

PipsrusX

Monthly and weekly tell the same story but the weekly is just more sexy to look at!. with a liquidation channel that has rejected the lower third bounce to make a double top, there usually follows a strong sell straight to retest structure, sub 1.77 and that has been the case with GA and its step sister GBPCAD {NOT ON THE CHART, NEWBIES}. however some catchy...