The AUDNZD has always been one of my favorite pairs. Probably because they are both commodity pairs and I’d love to live in either place. It’s always struck me as an inner battle for supremacy. Luckily for us, its now a great setup. The main thing that stuck out to me was the recent double top. This will work in our favor. Also, there has been a series of lower...
Euro has been ripping lately against the USD. The pair has hit overbought territory on the RSI and is headed towards a strong resistance zone. I will be getting short on completion of the pattern. Stops and targets are on the chart.
Tested a trenline from July of 2014 and was rejected with force on Friday. There was a bearish engulfing pattern put in with Fridays candlestick. I will be going short with my first target at the most recent low and second target at the 1.27 fib extension.
Currently at the .382 retracement of the larger move which also is a former support turned resistance. We have also broken the trendline support. Im looking for a continuation of the overall trend here. Entry, Stop, and Targets are below. Good Luck.
Stop = .7058
Entry = .6999
Target 1 = .6914
Target 2 = .6840
Kudos to those of you on the short side of this trade. I was stopped out of my short two days before the big move and subsequently missed this wonderful trade. BOOO!!!! Fortunately for me, I think there is still time to get in on the short side. I expect a retracement probably at the beginning of next week. We could be setting up a Gartley pattern here. Keep an...
This pair has decimated the shorts over the past few weeks. I see more upside and will not look to short until the 1.55 level. This area coincides with a cup and handle completion and a bat pattern completion. Two charts are expected to complete at or just before 1.55. We may see a pullback soon but any good pullback should be bought up as I don't feel this is...
Continues to touch the resistance line and get rejected. Offering a good risk reward right now. GBP is stretched across the board vs all the other pairs so beware of an overall GBP bounce.
We have a setup that involves a perfect ABCD pattern setup. The "C" point comes in at almost exactly a .618 retracement. When this happens we look for a 1.618 projection of the "BC" leg (1.618 is the reciprocal of .618). This 1.618 projection is comes in a tight range with the AB=CD leg. To add to the harmonic setup, there is an area of structure to support...
EURUSD coming into a support area. Its already broken support on the RSI which leads me to believe we could break the wedge. If it bounces, I will sell the bounce. If it breaks, I will sell the break. Either way, it doesn't matter to me. I'm going to let the market tell me what it wants to do.
There are a lot of great setups to start the year and I honestly had a hard time choosing which one to use as the trade of the week. I have setups on the GBP/CAD, AUD/JPY, AUD/USD, GBP/NZD, and NZD/CAD to just name a few. Noticing a trend here, all the commodity currencies are the common link in all of my setups. With so much movement towards the end of the year,...
This pair has been in a downward channel for quite some time but recently saw a little pop. I'm going to be looking to buy the breakout of this small flag and trade it to the top of the channel. If countertrend is not your thing then sit on your hands and wait to see if we hit the top of the channel and short the pair with the prevailing trend. Both trades can...