As you've seen, this currency pair has been steadily rising, and now we've hit the pinnacle of a weekly supply/sell zone dating back to early 2016. It's interesting because this point intersects the 2016 swing high, a level potentially crowded with stops, likely being eyed by significant market players. Price action on the lower timeframes is grinding higher...
The SELL signal for this pair has emerged today on the 12-hour chart. As per our May 19th analysis, after breaking through the 138 resistance level, I've been patiently waiting the sell signal. The price not only surpassed 139 level but also went beyond 140, just as explained may happen in the initial analysis. Today the TRFX indicator gave us the all-clear to...
As expected we got the rally back up to the previous support @0.655 talked about in the last post and have now entered the short term sell targeting the 0.64 level Stop loss is @0.655 and will trail this position down. Please refer to related post for full analysis behind this position
I have two different perspectives: a short-term SELL trade for the upcoming week and a long-term BUY. After a significant break and close of the 0.655 support last week, the next potential level for this pair could be the 0.64 zone. This area marks the untested Weekly DEMAND/BUY zone that was established last year, following a rapid drop to the MONTHLY DEMAND/BUY...
We got the break out of the previous resistance at 138 yesterday and approaching the untested weekly SUPPLY/SELL zone starting at 139 this is an area I expect to start seeing sellers come into the market though cannot rule out a move up towards 140. Looking at the 12hr and 8hr charts this pair is very over extended indicating sellers will be stepping in soon...
Quick update on this idea from earlier in the week. As expected we got the move above 1.64 and then waiting for a 12hour signal on the TRFX indicator which occured so have entered the first position. As the pair still could go up to 1.65 where if this occurs I will enter again. First target for this position will be 1.60 where I expect some buying to come back...
As we surpass the 1.64 mark, I am preparing to establish a long-term short position. We have now entered a significant monthly supply/sell zone, with the price appearing to be attracted to the 1.65 level. This level also coincides with a robust monthly resistance area deeply situated within this monthly zone. There is a high likelihood that we are currently in a...
Quick update on Yesterday's idea as expected we got the push up and then the 12hour signal on the TRFX indicator. We have entered the position first target will be the green boxed area on the chart then a long-term hold towards 133
Huge potential for this trade to move down with well over 1,000 pips on the table for the long term swing. On the Monthly charts we are at a long term SUPPLY/SELL zone and the weekly charts is showing us that this area is getting respected with the sideways distribution period that has been in play most of this year indicating buyers are getting exhausted and...
Update on the SELL position from last week we have been dropping nicely everyday since the entry at 1.49. On Friday we got a nice drop down to the first easy target at 1.4650 which was the previous swing high in current weekly up leg So we have closed 50% of the position and moved the stop loss to 1.48
Quick update on this idea posted a couple of days ago as expected we got the move up to create the new high into the Weekly SELL/DEMAND inside the Monthly area above 1.48 and into the 1.49. As wrote in the last post that I would be looking for a 12hour or Daily signal on my TRFX king to enter the market which has just given the signal so in we go :) I will...
This pair has just popped a new HIGH on the Monthly charts and took out a previous MONTHLY SUPPLY SELL zone and looks like it has it's sights set on the 1.50 price level which sits nicely inside a MONTHLY SUPPLY/SELL zone which starts around 1.48 which is marked in red on the chart. Inside the Monthly level sits a nice WEEKLY SUPPLY/SELL also which is around the...
After reaching the 1.25 target from my previous analysis posts price has reacted well and the next likely path is down towards the 1.15 area and below. At this level we have a nice newly created weekly DEMAND/BUY zone which sits on top of a huge monthly zone also sitting bang in the middle of this weekly zone is the 2020 low at 1.14. I will be looking for long...
Quick update on the progression of this idea from last week as expected early last week we got the sell off at the strong WEEKLY resistance area with price currently trekking towards the breakout area at 0.925 which is also a weekly DEMAND/BUY area. The current sell position is up around 100 pips I have closed 50% of the position and moved stop loss to 0.938 will...
We have 2 ideas in one post here both a BUY and short term SELL postion after weeks of being in the accumulation stage (green box)we finally got the break out higher this week with the biggest move happening yesterday after the PCE US data. What normally happens after an accumulation breakout is you will get a pull back towards a newly formed DEMAND/BUY zone or...
Ok quick update on the idea posted last week as expected we got the move up to the 134 area and my TRFX indicator has just give a SELL signal giving us the green light to enter this position. Stop loss is well above 136 the target as explained is the 125 area as the position moves in our favor we will be taking part profits and using a trailing stop. This...
I've had to look at the 2 week chart for a clearer picture of the directional move for this pair as you can see on the chart there is a nice UNTESTED SUPPLY/SELL zone that starts at 134 which is also a resistance area. What I would expect to see next on this pair is for price to pop up towards the 134 zone and then SELL off so I will be looking for sell signals...
The news events this week finally give catalyst to hit the 1.10 mark as explained in my preious post this would likely be the area where buyers turned to sellers this exactly what occured. We got the pop up above 1.10 into the Weekly SUPPLY/SELL zone and then a SELL signale on the TRFX indicator to allow us to get into the trade the position is already up over...