CADJPY is moving lower as we anticipated in the weekend outlook. I like this pair more than the other Yen pairs because of the CAD in it. I expect a lot from the CAD this year and like to buy CADJPY once this consolidation is over. Nevertheless I will focus on what's in front of us. So far we see a bearish impulse within the correction of larger degree. If we see...
In my Yen update during the weekend (see link related ideas below) I mentioned that GBPJPY looked somewhat different than the other Yen pairs. However I also mentioned that Yen pairs hardly ever move in isolation. This resulted in two clear trades for GBPJPY on Monday. First the buy, second the sell before I decided to remain neutral. The reason is simple. I...
The market showed some great moves and structure. By means of this post I will show what I'm looking for regarding the Yen pairs in next weeks trading session. Keep in mind that Yen pairs are almost always moving together because of the inter market dynamic. So use it in your advantage, for example when managing your positions or focus on the lagging pairs when...
Yesterday we sold EURJPY successfully and today I'm looking at the Yen pairs once again. I like how the USDJPY is lining up. Keep in mind FOMC is on the agenda later today in the US trading session. This most likely increases volatility. So timing is key like always but even more in days like these. Note: this is a potential day trade based on short term structure.
This pair is moving phenomenal and as projected. Last year I was able to double the account by 2% risk trades when trading USDCAD. This year AUDNZD is the pair to trade for that target. I like to see a correction before buying again. This time the correction might be more significant but we will trade what we see. Updates will follow and targets are still the same.
Comparable to all other Yen pairs, the EURJPY has a decision to make as well. The corrections in the Yen crosses might be over but let's see whether structure confirms it. I will be watching for either a consolidation for a buy, or a reversal, consolidation and a sell. For my previous post regarding the EURJPY reversal see 'related ideas' below.
USDJPY presented a great buy opportunity yesterday. I wasn't able to post it in time but I expect more to come. It is unclear yet whether the correction ended at 111.60 or whether this was only a wave 'A'. Nevertheless we need another leg higher of lesser degree which started yesterday. IF we see a consolidation I like to buy the continuation towards at least 115...
GBPJPY looks really good for a buy after the impulse from 124.812 low. The market is fractal in nature and that's why I look for one of these three buy scenario's. I favor the third scenario in green but I will trade what I see. Updates will follow
I'm looking for a buy continuation trade in CADJPY. This pair likely tests 93 'zone' next.
USOil moved exactly as we anticipated. first the third corrective leg, second the impulse lower we were anticipating. Next I will focus on whether we see a correction or a sharp reversal. My previous post about this instrument can be found below as 'related idea'.
This pair is fulfilling are guidelines for a nice three wave correction. About 5 months ago I wrote about the next leg lower. Price is taking out the lows for a nice reversal once this bearish structure is complete. I showed high potential reversal zones price never reached. This was a perfect example of keeping an open mind. The analyses of what move was to be...
I'm looking for the next leg lower in US Oil. This could either be a wave C lower towards 50.0. But we have to look at it step by step and I will update this post regularly.
I'm looking for a bottom for EURCAD following USDCAD. We see two attempt of an impulse higher and I'm waiting for the continuation. If price breaks below the horizontal dotted trend line the buy continuation trade will be invalidated. Updates will follow
A month ago I wrote about my three scenario's for a bullish move 'towards what I determined to be fair value' @0.81. (see link below) There are two scenario's left for trading purposes. We either see a triangle correction for wave 'B'. Or wave 'c' is already in place and price is expected to correct in a wave 2. Short term I'm looking for a bearish move towards...
For today I'm looking to sell CADCHF IF we see the continuation lower for what I count to be a wave 'E' lower. However if price moves higher from here by means of a minor impulse I need to see it consolidate before considering a buy position in this pair.