SteveNixon

PRO
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Joined United Kingdom logicfxtrading
Simple, Logical, Successful
Markets Allocation
94 % forex 6 % other
Top Mentioned Symbols
AUDNZD 13% | 26 GBPUSD 11% | 22 AUDJPY 10% | 20 USDCAD 8% | 16
SteveNixon SteveNixon PRO XAGUSD, 240, Short ,
XAGUSD: Deeper correction for Silver?
240 2 16
XAGUSD, 240 Short
Deeper correction for Silver?

It looks very likely that Silver is going to make a deeper correction than we've had so far. Initially I thought this was a simple 3 wave move back to the previous high but it now looks like it could make a move back below the start of the previous impulse. From present price we could have a push up before continuing the path down (Blue sketch) but given the ...

SteveNixon SteveNixon PRO GBPCHF, 240, Long ,
GBPCHF: Probable One More Wave Up
58 0 11
GBPCHF, 240 Long
Probable One More Wave Up

This pair has been in a flat correction all year - price now looks like it has just started the E wave. We've had a break of the previous D Wave trend - now wait for a long entry set up. I'll update my analysis as price develops so remember to follow to receive them. You can also follow updates via twitter (link from my TV profile) Always wait for an entry set ...

SteveNixon SteveNixon PRO GBPUSD, 240, Short ,
GBPUSD: Looks like a sell to me
204 4 20
GBPUSD, 240 Short
Looks like a sell to me

Surely this is a sell setting up. The only thing in question is when will it break and how far will it go. Of course it could go all the way to the bottom of the Daily channel but be aware that it could also be scribing out a ABC correction (see snapshot below) Either way I'm looking for a short trade initially then we'll watch what happens. I'll update my ...

SteveNixon SteveNixon PRO EURAUD, 240,
EURAUD: Reaching a decision point.
176 1 18
EURAUD, 240
Reaching a decision point.

Euro Aud is approaching what I like to call a decision point. From here price will either bounce back into the diagonal for one more move up or it will break out and give us a potential trade back down to the channel bottom. My bias is for a breakout but either way wait for the correct entry set up before getting involved. I'll update my analysis as price ...

SteveNixon SteveNixon PRO USDJPY, 240, Short ,
USDJPY: Nice short setting up
303 5 22
USDJPY, 240 Short
Nice short setting up

The last chart I posted on this pair I was looking for a long trade but price wasn't finished correcting. It now looks like we'll get another trade down to the channel bottom. Once there we'll be looking for a long trade with the possibility of a channel breakout. I'll update my analysis as price develops so remember to follow to receive them. You can also follow ...

SteveNixon SteveNixon PRO AUDUSD, 240, Short ,
AUDUSD: Possible short move imminent.
175 0 22
AUDUSD, 240 Short
Possible short move imminent.

Current structure looks short. Let's see how this develops over the next 24 hours. If we get a break down I'll be looking for a short trade which could go all the way down to the channel bottom. I'll update my analysis as price develops so remember to follow to receive them. You can also follow updates via twitter (link from my TV profile) Always wait for an ...

SteveNixon SteveNixon PRO USDCAD, 240,
USDCAD: Some more down side to this
282 0 27
USDCAD, 240
Some more down side to this

It looks like this has another wave down to go before going long again. We could see a long move this week to the top of the bearish channel before completing the move to the daily channel bottom. After that we could see one more big move up to possibly complete this weekly corrective phase. We'll take it one slice at a time - I'm not comfortable with the ...

SteveNixon SteveNixon PRO AUDNZD, 240, Long ,
AUDNZD: Next big move long
477 9 26
AUDNZD, 240 Long
Next big move long

Price is starting to approach a likely turning point so I'll be looking for a long move next. Don't rush in and don't try to predict the turning point because price could push lower yet. Remember we use dynamic analysis which means the structure lines move with the price. The lines only show current structure and are not meant to show turning points. We wait for a ...

SteveNixon SteveNixon PRO AUDJPY, W,
AUDJPY: Speculative Long Term Forecast - Weekly Chart
253 8 30
AUDJPY, W
Speculative Long Term Forecast - Weekly Chart

If we take a purely wave principle view of this pair then price could have a very long way down. The reason I'm posting this chart now is the fact that price is currently at a decision point - I expect it to go long from here but if it goes short there is a very credible possibility that price will fall dramatically over the next year or so. Now I'm not suggesting ...

SteveNixon SteveNixon PRO GBPUSD, 60, Short ,
GBPUSD: Short back to trend line?
297 6 31
GBPUSD, 60 Short
Short back to trend line?

This has just completed a C wave of a flat correction. The correction doesn't look over to me. I would still like to see it move back down toward the trend line before we see any further advances. My bias is a short in the direction of the green arrow - wait for the turn and short entry set up before risking your money. Check out my accurate March/April daily ...

SteveNixon SteveNixon PRO AUDNZD, 240, Long ,
AUDNZD: Correction ending?
406 6 25
AUDNZD, 240 Long
Correction ending?

This major correction is now approaching the 61.8% fib retracement so I'll be looking for a long trade back to the top of the channel. Remember we do not try to predict the turning point - you'll lose money that way. Price could easily push lower so wait for a break of the trend and long entry set up. I update ideas as they develop so remember to follow to ...

SteveNixon SteveNixon PRO USDJPY, 240, Long ,
USDJPY: Channel Break Out?
862 11 43
USDJPY, 240 Long
Channel Break Out?

Guys I was looking for a short trade to the bottom of the channel. It doesn't look like that's going to happen as price seems to have broken out of the channel. Let's see what type of correction it makes. If it's shallow we might get a nice long set up but if it's sharp we may have to wait for it to complete before finding a safe long entry point. Either way I'm ...

SteveNixon SteveNixon PRO GBPCAD, D, Short ,
GBPCAD: Short Back to Trend Line
337 4 36
GBPCAD, D Short
Short Back to Trend Line

The pound has been moving up nicely across the board but it looks like it's ready for a correction back to the trend line. The structure is similar on all pound pairs so keep an eye on them this week for signs of weakness. I update my ideas as they develop so remember to follow to receive them. You can also follow updates via twitter (link via my TV profile) ...

SteveNixon SteveNixon PRO GBPAUD, 240, Short ,
GBPAUD: Short back to trend Line/Decision Point
294 1 32
GBPAUD, 240 Short
Short back to trend Line/Decision Point

Price has been rising as a C wave which could be running out of steam. For now I expect a short move back to the trend line. Once there we'll make a decision about what is going to happen next. We could get a bounce and one more move up or price could breakout to give us a move back down as a D wave or simply a nice correction before C pushes higher. The ...

SteveNixon SteveNixon PRO USDCAD, 60, Short ,
USDCAD: Short trade back into channel?
385 5 33
USDCAD, 60 Short
Short trade back into channel?

Dollar/Loonie have been ranging upward in this channel for a year now. We are currently at or near the channel top and we've had a trend line break. I'll be looking for a flag to get involved. This could go all the way down to the channel bottom. Once you choose your entry point remember to set your stop loss and stick to it. If it goes back up take the hit. If it ...

SteveNixon SteveNixon PRO GBPJPY, 60, Short ,
GBPJPY: Break out imminent?
619 9 45
GBPJPY, 60 Short
Break out imminent?

Keep an eye on this one it looks likely to put in a nice correction some time soon. Look at the divergence on MACD Remember we are looking for a break of the channel and a flag or correction below the breakout for confirmation before entering. Alternately you could wait for the short move to complete and look for a long entry. Forecasts will be updated as they ...

SteveNixon SteveNixon PRO XAGUSD, 240, Long ,
XAGUSD: Next big Silver move should be Long
833 31 46
XAGUSD, 240 Long
Next big Silver move should be Long

Sorry I haven't been posting charts for a while. My computer crashed and I lost all the work I was doing for my training course. I'm busy re writing so I can't post as often as usual. Normal service will return soon. Silver has taken a while to make the correction I predicted last month but it's more or less there. We may see some more down side but I don't ...

SteveNixon SteveNixon PRO DXY, 240, Long ,
DXY: Dollar Index Forecast Long
299 2 34
DXY, 240 Long
Dollar Index Forecast Long

Sorry I haven't been posting charts for a while. My computer crashed and I lost all the work I was doing for my training course. I'm busy re writing so I can't post as often as usual. Normal service will return soon. OK we've had a nice correction which could come down some more but I'm looking for this to go long. I don't trade this but it's a great indicator ...

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EURNZD
Euro Fx/New Zealand Dollar
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USDCHF
U.S. Dollar/Swiss Franc
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AUDCHF
Australian Dollar/Swiss Franc
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AUDNZD
Australian Dollar/New Zealand Dollar
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AUDUSD
Australian Dollar/U.S. Dollar
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AUDJPY
Australian Dollar/Japanese Yen
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British Pound/U.S. Dollar
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EURGBP
EURO / POUND STERLING
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British Pound/Australian Dollar
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U.S. Dollar/Canadian Dollar
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U.S. Dollar/Japanese Yen
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New Zealand Dollar/Canadian Dollar
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